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The Effects Of Capital Outflows From Neighboring Countries On A Home Countrys Terms Of Trade And Real Exchange Rate
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Book Synopsis The Effects of Capital Outflows from Neighboring Countries on a Home Country's Terms of Trade and Real Exchange Rate by : Sam-mo Kang
Download or read book The Effects of Capital Outflows from Neighboring Countries on a Home Country's Terms of Trade and Real Exchange Rate written by Sam-mo Kang and published by KIEP. This book was released on 2003 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Capital Outflows from Neighboring Countries on a Home Country's Terms of Trade and Real Exchange Rate by : Sammo Kang
Download or read book The Effects of Capital Outflows from Neighboring Countries on a Home Country's Terms of Trade and Real Exchange Rate written by Sammo Kang and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: While there is an extensive body of empirical analyses showing that currency crises tend to be regionally concentrated to specific areas and contagious to countries with high levels of trade, there has been insufficient research on the mechanisms underlying such tendencies. Using a two country model, we investigate the possibility of deterioration in the terms of trade and a rise in the real exchange rate of a home country in the case of capital outflows from its trade partner. In addition, an empirical analysis of East Asian countries conclusively shows that some countries conform to the model.Generally, neighboring countries trade extensively with one another for reasons like low logistics costs. This paper finds that such patterns of trade can be one reason for a currency crisis being regional.
Book Synopsis Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate by : Mr.Tidiane Kinda
Download or read book Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate written by Mr.Tidiane Kinda and published by International Monetary Fund. This book was released on 2011-01-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of capital inflows and exchange rate flexibility on the real exchange rate in developing countries based on panel cointegration techniques. The results show that public and private flows are associated with a real exchange rate appreciation. Among private flows, portfolio investment has the highest appreciation effect-almost seven times that of foreign direct investment or bank loans-and private transfers have the lowest effect. Using a de facto measure of exchange rate flexibility, we find that a more flexible exchange rate helps to dampen appreciation of the real exchange rate stemming from capital inflows.
Book Synopsis Terms of Trade Disturbances, Real Exchange Rates, and Welfare by : International Monetary Fund
Download or read book Terms of Trade Disturbances, Real Exchange Rates, and Welfare written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-03-14 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many arguments that have been advanced in favor of maintaining capital controls within the EC have not paid sufficient attention to the welfare consequences of this type of market intervention. Our paper provides a simple, optimizing framework in which the welfare consequences of capital controls can be assessed. Two main issues are considered. First, how do capital controls affect the adjustment of macroeconomic variables to real disturbances? Second, what is the nature of second best arguments for maintaining capital controls given that certain distortions will remain after the European single market is in place in 1992?
Book Synopsis Exchange Rate Overvaluation and Trade Protection by : Howard J. Shatz
Download or read book Exchange Rate Overvaluation and Trade Protection written by Howard J. Shatz and published by World Bank Publications. This book was released on 2000 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Lessons from world experience about the consequences of exchange rate overvaluation (the frequent cause of trade crises), the consequences of trying to defend an overvalued exchange rate, and the most appropriate policies for resolving an overvaluation"--Cover.
Book Synopsis The Transfer Problem Revisited by : Mr.Gian Milesi-Ferretti
Download or read book The Transfer Problem Revisited written by Mr.Gian Milesi-Ferretti and published by INTERNATIONAL MONETARY FUND. This book was released on 2000-07-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between international payments and the real exchange rate—the “transfer problem”—is a classic question in international economics. We use new data on countries’ net external positions together with real exchange rate data to shed light on this question. We present a model yielding testable implications on the long-run co-movements of real exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods.
Book Synopsis Some Multi-country Evidence on the Effects of Real Exchange Rates on Output by : Steven Kamin
Download or read book Some Multi-country Evidence on the Effects of Real Exchange Rates on Output written by Steven Kamin and published by . This book was released on 1997 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Unveiling the Effects of Foreign Exchange Intervention by : Gustavo Adler
Download or read book Unveiling the Effects of Foreign Exchange Intervention written by Gustavo Adler and published by International Monetary Fund. This book was released on 2015-06-23 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of foreign exchange intervention on the exchange rate relying on an instrumental-variables panel approach. We find robust evidence that intervention affects the level of the exchange rate in an economically meaningful way. A purchase of foreign currency of 1 percentage point of GDP causes a depreciation of the nominal and real exchange rates in the ranges of [1.7-2.0] percent and [1.4-1.7] percent respectively. The effects are found to be quite persistent. The paper also explores possible asymmetric effects, and whether effectiveness depends on the depth of domestic financial markets.
Book Synopsis Trade Liberalization and Real Exchange Rate Movement by : Ms.Xiangming Li
Download or read book Trade Liberalization and Real Exchange Rate Movement written by Ms.Xiangming Li and published by International Monetary Fund. This book was released on 2003-06-01 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although theory suggests that the real exchange rate should depreciate after a credible trade liberalization but could appreciate temporarily with a noncredible one, little empirical evidence exists. Unlike existing studies that use either indirect tests or unreliable openness measures, this paper uses an event study based on carefully documented trade liberalization in 45 countries. The result shows that real exchange rates depreciate after countries open their economies to trade. In countries with multiple liberalization episodes, however, real exchange rates appreciate during early episodes, suggesting that partial or noncredible trade liberalizations are associated with real appreciation.
Book Synopsis The Transfer Problem Revisited by : Philip R. Lane
Download or read book The Transfer Problem Revisited written by Philip R. Lane and published by . This book was released on 2007 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between international payments and the real exchange rate--the transfer problem--is a classic question in international economics. We use new data on countries' net external positions together with real exchange rate data to shed light on this question. We present a model yielding testable implications on the long-run co-movements of real exchange rates, external positions, relative GDP and terms of trade, and cross-country and time-series evidence on the subject. Countries with net external liabilities are found to have more depreciated real exchange rates, with the main channel of transmission working through the relative price of nontraded goods.
Book Synopsis Effective Exchange Rate Changes and Their Impact on the Trade Balance by : D. S. Wijesinghe
Download or read book Effective Exchange Rate Changes and Their Impact on the Trade Balance written by D. S. Wijesinghe and published by . This book was released on 1988 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews various indices of effective exchanges rates, highlighting their uses and limitation. Presents the multilateral trade model appropriate to primary commodity exporting countries.
Book Synopsis International Capital Flows by : Martin Feldstein
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Book Synopsis Country-specific Factors and the Pattern of Intra-industry Trade in China's Manufacturing by : Zhaoyong Zhang
Download or read book Country-specific Factors and the Pattern of Intra-industry Trade in China's Manufacturing written by Zhaoyong Zhang and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Stanley W. Black Publisher :Princeton, N.J. : International Finance Section, Department of Economics, Princeton University ISBN 13 : Total Pages :60 pages Book Rating :4.4/5 (91 download)
Book Synopsis Exchange Policies for Less Developed Countries in a World of Floating Rates by : Stanley W. Black
Download or read book Exchange Policies for Less Developed Countries in a World of Floating Rates written by Stanley W. Black and published by Princeton, N.J. : International Finance Section, Department of Economics, Princeton University. This book was released on 1976 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Uncertainty and Free Trade Agreement Between Japan and Korea by : Kwanho Shin
Download or read book Exchange Rate Uncertainty and Free Trade Agreement Between Japan and Korea written by Kwanho Shin and published by 대외경제정책연구원. This book was released on 2003 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A New Look at Exchange Rate Volatility and Trade Flows by : Mr. Peter B. Clark
Download or read book A New Look at Exchange Rate Volatility and Trade Flows written by Mr. Peter B. Clark and published by International Monetary Fund. This book was released on 2004-09-30 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s and increasing cross-border capital flows, may have exacerbated exchange rate volatility, while others, such as a deepening of the market in foreign exchange hedging instruments, may have reduced the impact of volatility on trade flows. Using recent advances in the economic theories on trade and in statistical methodologies, this paper revisits this important issue by taking into account these new developments and examining their effects on developing and transition economies, as well as on developed countries.
Book Synopsis Real Exchange Rate Dynamics in the Presence of Nontraded Goods and Transaction Costs by : Inkoo Lee
Download or read book Real Exchange Rate Dynamics in the Presence of Nontraded Goods and Transaction Costs written by Inkoo Lee and published by . This book was released on 2008 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
