Sharp Reductions in Current Account Deficits

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Publisher : International Monetary Fund
ISBN 13 : 1451858221
Total Pages : 17 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Sharp Reductions in Current Account Deficits by : Mr.Gian Milesi-Ferretti

Download or read book Sharp Reductions in Current Account Deficits written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1997-12-01 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors explain how costly reversals are? It finds that both domestic variables, such as the current account balance, openness to trade, and the level of reserves, and external variables, such as terms of trade shocks, U.S. real interest rates, and growth in industrial countries, seem to play important roles in explaining reversals in current account imbalances. It also finds some evidence that countries with a less appreciated real exchange rate, higher investment, and more openness before the reversal tend to grow faster after a reversal occurs.

Sharp Reductions in Current Account Deficits

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Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Sharp Reductions in Current Account Deficits by : Gian Maria Milesi-Ferretti

Download or read book Sharp Reductions in Current Account Deficits written by Gian Maria Milesi-Ferretti and published by . This book was released on 2006 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors explain how costly reversals are? It finds that both domestic variables, such as the current account balance, openness to trade, and the level of reserves, and external variables, such as terms of trade shocks, U.S. real interest rates, and growth in industrial countries, seem to play important roles in explaining reversals in current account imbalances. It also finds some evidence that countries with a less appreciated real exchange rate, higher investment, and more openness before the reversal tend to grow faster after a reversal occurs.

Current Account Reversals and Currency Crises

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Publisher : International Monetary Fund
ISBN 13 : 1451952422
Total Pages : 45 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Current Account Reversals and Currency Crises by : Mr.Gian Milesi-Ferretti

Download or read book Current Account Reversals and Currency Crises written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1998-06-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies large reductions in current account deficits and exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. Both domestic factors, such as the low reserves, and external factors, such as unfavorable terms of trade, are found to trigger reversals and currency crises. The two types of events are, however, distinct; an exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversals there is no systematic evidence of a growth slowdown.

Preventing Currency Crises in Emerging Markets

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Publisher : University of Chicago Press
ISBN 13 : 0226185052
Total Pages : 783 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis Preventing Currency Crises in Emerging Markets by : Sebastian Edwards

Download or read book Preventing Currency Crises in Emerging Markets written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2009-02-15 with total page 783 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.

Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies

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Publisher : Springer Science & Business Media
ISBN 13 : 0585313466
Total Pages : 501 pages
Book Rating : 4.5/5 (853 download)

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Book Synopsis Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies by : Mario I. Blejer

Download or read book Balance of Payments, Exchange Rates, and Competitiveness in Transition Economies written by Mario I. Blejer and published by Springer Science & Business Media. This book was released on 2007-08-23 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: Integrating transition economies into the global commercial and trade market system is a prolonged and risky process. This book is a collection of studies dealing with the different issues related to the liberalization of external relations in economies moving from a socialist to a market-based system The focus is on external sector developments, and the topics deal with balance of payments conditions, exchange rate policies and regimes, international competitiveness, international capital flows, trade, and other matters related to the integration of transition economies into the world economy. An understanding of the principles involved and of the experiences of both transition and advanced economies during this process is crucial to ensure its ultimate success. Written by internationally recognized scholars, the chapters cover these issues in a systematic manner. The first section treats current account developments, capital flows, and exchange rate policies in transition countries, the second section deals with specific issues related to international trade, and the final section consists of six specific country experiences. In this final section, a chapter dealing with the Russian Federation discusses the collapse of the ruble in August 1998.

Currency Crises

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Publisher : University of Chicago Press
ISBN 13 : 0226454649
Total Pages : 367 pages
Book Rating : 4.2/5 (264 download)

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Book Synopsis Currency Crises by : Paul Krugman

Download or read book Currency Crises written by Paul Krugman and published by University of Chicago Press. This book was released on 2007-12-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no universally accepted definition of a currency crisis, but most would agree that they all involve one key element: investors fleeing a currency en masse out of fear that it might be devalued, in turn fueling the very devaluation they anticipated. Although such crises—the Latin American debt crisis of the 1980s, the speculations on European currencies in the early 1990s, and the ensuing Mexican, South American, and Asian crises—have played a central role in world affairs and continue to occur at an alarming rate, many questions about their causes and effects remain to be answered. In this wide-ranging volume, some of the best minds in economics focus on the historical and theoretical aspects of currency crises to investigate three fundamental issues: What drives currency crises? How should government behavior be modeled? And what are the actual consequences to the real economy? Reflecting the latest thinking on the subject, this offering from the NBER will serve as a useful basis for further debate on the theory and practice of speculative attacks, as well as a valuable resource as new crises loom.

Disinflation in Transition Economies

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Publisher : Central European University Press
ISBN 13 : 9789639241299
Total Pages : 424 pages
Book Rating : 4.2/5 (412 download)

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Book Synopsis Disinflation in Transition Economies by : Marek D?browski

Download or read book Disinflation in Transition Economies written by Marek D?browski and published by Central European University Press. This book was released on 2003-01-01 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors analyze the dynamics of in Central and Eastern Europe. The volume covers all the key factors of disinflation in transition economies: changes in money supply and money demand; exchange rate policy; currency crisis; fiscal policy; legal status of central banks; monetary policy strategy; changes in relative prices and changes in nominal and real wages.

G7 Current Account Imbalances

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Publisher : University of Chicago Press
ISBN 13 : 0226107280
Total Pages : 519 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis G7 Current Account Imbalances by : Richard H. Clarida

Download or read book G7 Current Account Imbalances written by Richard H. Clarida and published by University of Chicago Press. This book was released on 2007-11-01 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current account deficit of the United States is more than six percent of its gross domestic product—an all-time high. And the rest of the world, including other G7 countries such as Japan and Germany, must collectively run current account surpluses to finance this deficit. How long can such unevenness between imports and exports be sustained, and what form might their eventual reconciliation take? Putting forth scenarios ranging from a gradual correction to a crash landing for the dollar, G7 Current Account Imbalances brings together economists from around the globe to consider the origins, status, and future of those disparities. An esteemed group of collaborators here examines the role of the bursting of the dot-com bubble, the history of previous episodes of current account adjustments, and the possibility of the Euro surpassing the dollar as the leading international reserve currency. Though there are areas of broad agreement—that the imbalances will ultimately decline and that currency revaluations will be part of the solution—many areas of contention remain regarding both the dangers of imbalances and the possible forms of adjustment. This volume will be of tremendous value to economists, politicians, and business leaders alike as they look to the future of the G7 economies.

Growth Following Investment and Consumption-Driven Current Account Crises

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Publisher : International Monetary Fund
ISBN 13 : 1484321898
Total Pages : 23 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Growth Following Investment and Consumption-Driven Current Account Crises by : Mr.Alexander Klemm

Download or read book Growth Following Investment and Consumption-Driven Current Account Crises written by Mr.Alexander Klemm and published by International Monetary Fund. This book was released on 2013-10-23 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade account surpluses. To run such surpluses without a fall in consumption, capital inflows should be used to increase future output. This paper tentatively finds that current account deficits reversals that follow investment booms are marked by better growth performance than those following consumption booms. It also shows that many recent large current account deficits have been predominantly the result of consumption or non-productive investment booms.

Labor, Capital, and Finance

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Publisher : Cambridge University Press
ISBN 13 : 9780521785570
Total Pages : 198 pages
Book Rating : 4.7/5 (855 download)

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Book Synopsis Labor, Capital, and Finance by : Assaf Razin

Download or read book Labor, Capital, and Finance written by Assaf Razin and published by Cambridge University Press. This book was released on 2001-08-27 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This treatment offers a model of globalization by examining international labor, finance, and capital flows.

Experience with Large Fiscal Adjustments

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Publisher : International Monetary Fund
ISBN 13 : 9781589064584
Total Pages : 56 pages
Book Rating : 4.0/5 (645 download)

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Book Synopsis Experience with Large Fiscal Adjustments by : Mr.Mark A. Horton

Download or read book Experience with Large Fiscal Adjustments written by Mr.Mark A. Horton and published by International Monetary Fund. This book was released on 2006-06-14 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment best designed and implemented? What will be its impact on the economy? This Occasional Paper addresses these questions by describing the experience of countries that have undertaken large fiscal adjustments in the last three decades. It provides operational guidance to policymakers by identifying preconditions, common policy approaches, and institutional arrangements underlying successful and unsuccessful adjustment episodes.

Sustainable Development in Mineral Economies

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Publisher : Clarendon Press
ISBN 13 : 9780198294870
Total Pages : 312 pages
Book Rating : 4.2/5 (948 download)

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Book Synopsis Sustainable Development in Mineral Economies by : Richard M. Auty

Download or read book Sustainable Development in Mineral Economies written by Richard M. Auty and published by Clarendon Press. This book was released on 1998 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses mineral economies in Botswana, Chile, Colombia, Indonesia, Jamaica, Namibia, Papua New Guinea, Peru, and Trinidad and Tobago.

Treasury Report on Exchange Rates and International Monetary Policy

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Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Treasury Report on Exchange Rates and International Monetary Policy by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy

Download or read book Treasury Report on Exchange Rates and International Monetary Policy written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy and published by . This book was released on 1992 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Managing The Euro Area Debt Crisis

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Publisher : Columbia University Press
ISBN 13 : 0881326887
Total Pages : 218 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis Managing The Euro Area Debt Crisis by : William R Cline

Download or read book Managing The Euro Area Debt Crisis written by William R Cline and published by Columbia University Press. This book was released on 2016-04-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: First came the financial and debt crisis in Greece, then government financing difficulties and rescue programs in Ireland in 2010 and Portugal in 2011. Before long, Italy and Spain were engulfed by financial contagion as well. Finally in 2012, the European Central Bank pledged to do "whatever it takes" to preserve the euro area with purchases of government bonds, a step that achieved impressive results, according to William R. Cline in this important new book. One of the world's leading experts on fiscal and debt issues, Cline mobilizes meticulously researched and forceful arguments to trace the history of the euro area debt crisis and makes projections of future debt sustainability. He argues that euro area leaders made the right decision to keep the euro from breaking apart but warns against complacency about the future. Cline contends that troubled European economies should continue their fiscal consolidation but that further debt restructurings for most countries are not called for. Greece is a special case and may need some further debt relief contingent on continued progress on fiscal and structural reform, however. In this landmark study, Cline offers a detailed analysis of the mistakes, successes, and options for Europe as it struggles to overcome its worst economic disaster since World War II.

Economic Survey of Latin America 1979

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Publisher : United Nations
ISBN 13 : 9210583434
Total Pages : 540 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis Economic Survey of Latin America 1979 by : United Nations Economic Commission for Latin America and the Caribbean

Download or read book Economic Survey of Latin America 1979 written by United Nations Economic Commission for Latin America and the Caribbean and published by United Nations. This book was released on 1979-12-31 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.

Transpacific Rebalancing

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Publisher : Brookings Institution Press
ISBN 13 : 0815722613
Total Pages : 283 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Transpacific Rebalancing by : Barry P. Bosworth

Download or read book Transpacific Rebalancing written by Barry P. Bosworth and published by Brookings Institution Press. This book was released on 2015-01-20 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Asian Development Bank Institute publication Persistently large external imbalances in the world economy contributed to the outbreak of the recent financial crisis. The current account imbalances were particularly severe among the economies that border on the Pacific—the United States ran large deficits, with offsetting surpluses in East Asia. The depth and breadth of the global recession also demonstrated the need for a coordination of national policies to achieve a sustained recovery. While the magnitude of global-trade disruption led to some reduction in the size of the imbalances, closer examination suggests that the progress may prove temporary. On the other hand, significant changes in the underlying patterns of saving and investment suggest that some of the recent rebalancing may prove to be more permanent. Are such imbalances really a problem? If so, why and for whom? What should be done about them—if anything—and what does the future likely hold for transpacific trade relations? In this timely book, Asian and American economists explore those important questions. Copublished with the Asian Development Bank Institute, Transpacific Rebalancing is coedited by Barry Bosworth—long one of the Brookings Institution's leading economic analysts—and Masahiro Kawai, dean of the ADBI. They brought together leading economists from either side of the Pacific to analyze such issues as: • The impact of exchange rates • The policy choices facing the "Asian tigers" • The specifics and effects of trade imbalances in specific countries including the United States, South Korea, Thailand, India, and China Contributors include Hwee Kwan Chow, Susan M. Collins, Barry Eichengreen, Joonkyung Ha, Yping Huang, Ginalyn Komoto, Jong-Wha Lee, Rajiv Kumar, Deunden Nikomborirak, Gisela Rua, Lea Sumulong, Chalongphob Sussankam, Kunyu Tao, Willem Thorbecke, and Pankaj Vashisht.

IMF Survey

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Author :
Publisher :
ISBN 13 :
Total Pages : 468 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis IMF Survey by : International Monetary Fund

Download or read book IMF Survey written by International Monetary Fund and published by . This book was released on 1998 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: