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Under What Circumstances Are Domestic Financial Liberalisation And Financial Integration With The Rest Of The World Good For Growth
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Book Synopsis Under What Circumstances are Domestic Financial Liberalisation and Financial Integration with the Rest of the World Good for Growth by : Alexander Boni
Download or read book Under What Circumstances are Domestic Financial Liberalisation and Financial Integration with the Rest of the World Good for Growth written by Alexander Boni and published by GRIN Verlag. This book was released on 2011-03-07 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2010 in the subject Economics - Economic Cycle and Growth, grade: 84, University of Exeter (Business School), course: Economics - Growth & Development, language: English, abstract: An examination of neoclassical and endogenous growth theories and their theoretical implications on pursuing policies of domestic financial liberalisation and global financial harmonisation. This essay determines what circumstances are required or are desirable when opening up a national economy to liberalise its domestic financial industry and integrate that industry with the rest of the world.
Book Synopsis Reaping the Benefits of Financial Globalization by : Mr.Ayhan Kose
Download or read book Reaping the Benefits of Financial Globalization written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2008-12-16 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as institutional quality and domestic financial development. Although, in principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster economic growth, in practice its effects are less clear-cut. This paper envisages a gradual and orderly sequencing of external financial liberalization and complementary reforms in macroeconomic policy framework as essential components of a successful liberalization strategy.
Book Synopsis Financial Liberalization and Economic Performance in Emerging Countries by : Philip Arestis
Download or read book Financial Liberalization and Economic Performance in Emerging Countries written by Philip Arestis and published by Palgrave MacMillan. This book was released on 2008-07-24 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Empirical research has shown that there is little relationship between financial liberalization and economic growth in emerging countries. Although international financial integration should, in principle, help countries to reduce macroeconomic instability and enhance economic growth, the available evidence suggests that developing countries have not always reaped these potential benefits. This volume discusses the relationship between financial liberalisation, financial deepening and economic performance from both a theoretical and a policy perspective, comparing several 'big' emerging countries - Argentina, Brazil, China, India, Russia and South Africa - as well as presenting case studies. Its main contribution is to analyse issues that are related to financial liberalisation in emerging countries focusing on recent experiences, with a particular focus on the policy dimension of financial liberalisation: the degree of autonomy of domestic economic policy, and the different policy responses by countries to deal with issues caused by the international financial integration. This volume includes contributions from a wide range of experts on finance liberalisation and the economics of developing countries, and will be of great interest to scholars and policymakers in these crucial areas."--Book cover.
Book Synopsis The Gains and Pains of Financial Integration and Trade Liberalization by : Rajib Bhattacharyya
Download or read book The Gains and Pains of Financial Integration and Trade Liberalization written by Rajib Bhattacharyya and published by Emerald Group Publishing. This book was released on 2019-11-26 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Geared towards policy makers, researchers, academics, and business and management professionals, The Gains and Pains of Financial Integration and Trade Liberalization helps readers develop new theories and models for analysing the future trends in finance and trade-related issues.
Book Synopsis International Financial Liberalisation and Economic Growth by : Ben McLean
Download or read book International Financial Liberalisation and Economic Growth written by Ben McLean and published by . This book was released on 2002 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the link between international financial integration and economic growth. In particular, we ask the following questions. What are the theoretical links between financial integration and growth? Is there any empirical evidence that an increase in financial integration is associated with higher economic growth at a cross-country level? Do different types of capital flows have different implications for growth? Existing empirical evidence suggests that the link between financial openness and economic growth is weak at best. While there is some evidence that financial liberalisation positively affects growth, this relationship is not robust. There is also some evidence that the positive impact of foreign investment on growth is conditional upon the existence of relatively developed domestic institutions and sound macroeconomic policy. This result is also not very robust and is sensitive to the measures employed to capture institutional development and the policy environment. To complement the existing research, we examine this issue with a particular emphasis on the composition of capital flows. Consistent with conventional wisdom, we find that both foreign direct investment and portfolio inflows enhance economic growth. By contrast, the effect of bank inflows is found to be mostly negative.
Book Synopsis Financial Liberalization and Economic Performance by : Luiz Fernando de Paula
Download or read book Financial Liberalization and Economic Performance written by Luiz Fernando de Paula and published by Routledge. This book was released on 2012-07-26 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the beginning of the 1990s, Brazil has followed a pattern of economic development inspired by Washington Consensus. This framework includes a set of liberalising and market friendly policies such as privatisation, trade liberalization, stimulus to foreign direct investment, tax reform, and social security reforms. This book assesses the determinants and impacts of financial liberalisation in Brazil considering its two dimensions: the opening up of the balance of payments capital account, and the penetration by foreign bank of the domestic banking sector. The author combines theoretical and empirical analyses. Some make use of mathematical models and/or statistical techniques; however, they are only used when they are strictly necessary to the analysis.
Book Synopsis Financial Development and Economic Growth by : C. Goodhart
Download or read book Financial Development and Economic Growth written by C. Goodhart and published by Springer. This book was released on 2004-06-13 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.
Book Synopsis The Great Financial Crisis in Finland and Sweden by : Lars Jonung
Download or read book The Great Financial Crisis in Finland and Sweden written by Lars Jonung and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nordic financial crisis had it all: a botched liberalization, a huge boom followed by an even bigger bust, massive taxpayer-financed bailouts and, finally, deep long-run gains. The first-class team of scholars mobilized in this book convincingly tell a story that should be carefully studied by economists, bankers and policymakers. After this book, no one should be able to say: If we only knew ! Charles Wyplosz, Graduate Institute of International Studies, Geneva, Switzerland The financial crisis in Scandinavia in the early 1990s was a forerunner of the later world-wide crisis in 2007/8. Although the initial causation was different, the impact on their banks, though more localised, was just as severe. So we can benefit, and already policymakers have done so, from learning the lessons in this book on how to restore shattered banking systems to health. For this we owe a debt of gratitude to the editors, who have put together a series of key papers that emerged from a much larger exercise on the crisis that was earlier reported in four volumes in Swedish and Finnish. Amongst the many studies on current and past financial crises, this is a classic must-read . Charles A.E. Goodhart, London School of Economics, UK The Nordic experience with financial crisis resolution could not be more timely. Everyone cites it as an example of how it should be done , but rarely does one find careful and detailed analysis. Now policymakers and others searching for guidance will know where to look. Barry Eichengreen, University of California, Berkeley, US Following World War II, Nordic countries were commonly regarded as successful and stable economies. This perception was, however, shattered in the early 1990s when Finland and Sweden encountered severe financial crises. Here, the authors explore the symptoms of financial crisis decreasing real income, soaring unemployment and exploding public deficits and their devastating effects. The book compares and contrasts the experiences of Finland and Sweden, then adopts an international perspective, encompassing the experiences of Asia, Latin America, Denmark and Norway. Lessons from the 1990s crisis are drawn, and possible solutions prescribed. The conclusion is that long-term effects of financial crises financial liberalization and integration are not as dramatic as the short-term effects, but may prove to be of greater importance over time. Only the future will show whether these long-term benefits will balance or even outweigh the enormous short-term costs of the crises. Highly relevant to the current international financial crisis currently afflicting the world economy, this timely book will prove invaluable to economists and other social scientists with a general interest in financial crises, and to those with a more specific interest in the evolution and models of Scandinavian economies.
Book Synopsis Challenges of Growth and Globalization in the Middle East and North Africa by : Mr.Hamid R Davoodi
Download or read book Challenges of Growth and Globalization in the Middle East and North Africa written by Mr.Hamid R Davoodi and published by International Monetary Fund. This book was released on 2003-09-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Book Synopsis Financial Deregulation and Integration in East Asia by : Takatoshi Ito
Download or read book Financial Deregulation and Integration in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased mobility and volume of international capital flows is a striking trend in international finance. While countries worldwide have engaged in financial deregulation, nowhere is this pattern more pronounced than in East Asia, where it has affected in unanticipated ways the behavior of exchange rates, interest rates, and capital flows. In these thirteen essays, American and Asian scholars analyze the effects of financial deregulation and integration on East Asian markets. Topics covered include the roles of the United States and Japan in trading with Asian countries, macroeconomic policy implications of export-led growth in Korea and Taiwan, the effects of foreign direct investment in China, and the impact of financial liberalization in Japan, Korea, and Singapore. Demonstrating the complexity of financial deregulation and the challenges it poses for policy makers, this volume provides an excellent picture of the overall status of East Asian financial markets for scholars in international finance and Asian economic development.
Book Synopsis Financial Integration in East Asia by : Gordon de Brouwer
Download or read book Financial Integration in East Asia written by Gordon de Brouwer and published by Cambridge University Press. This book was released on 1999-10-21 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Integration in East Asia, first published in 1999, examines the degree of domestic and financial openness in ten Asian countries (Japan, Australia, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand) and the effect financial openness has on the structure of the macroeconomy. After examining the reasons behind the 1997/98 financial crisis, Dr de Brouwer puts these in context by summarising the literature on the costs and benefits of financial reform. He then assesses the information that interest rate parity conditions have for financial openness, and sets out theoretical and empirical models to explore the link between market interest rates and intermediated interest rates on deposits and loans. Financial Integration in East Asia also contains reviews of the literature and regional developments, with clear policy analysis throughout.
Book Synopsis An Assessment of the Global Impact of the Financial Crisis by : P. Arestis
Download or read book An Assessment of the Global Impact of the Financial Crisis written by P. Arestis and published by Springer. This book was released on 2010-12-14 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This topical volume analyzes the impact of the 2008 financial crisis. It considers the origins and explanations of the current crisis, examines the regulatory implications and, with specific focus on developing countries, it provides a strategy for economic growth that can guarantee financial stability in the future.
Book Synopsis Finance, Financial Sector Policies, and Long-run Growth by : Asli Demirguc-Kunt
Download or read book Finance, Financial Sector Policies, and Long-run Growth written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2008 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.
Book Synopsis China and India Learning from Each Other by : Mr.Steven Vincent Dunaway
Download or read book China and India Learning from Each Other written by Mr.Steven Vincent Dunaway and published by International Monetary Fund. This book was released on 2006-09-28 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication contains 13 papers presented at an international seminar, held in Beijing in October 2005, which was jointly organised by the IMF, the China Society for Finance and Banking, and the Stanford Center for International Development. The papers set out the analysis of high-level policymakers and advisors in China and India about the structural economic reforms being implemented in their respective countries, and the challenges and lessons to be learned from their experiences in order to achieve long-term sustainable development. The papers focus on the following issues: banking sector reform, securities market development, domestic financial liberalisation and international financial integration, fiscal dimensions of sustaining high growth, Sino-Indian economic co-operation, and the implications of the emergence of China and India for the regional and international financial system.
Book Synopsis Capital Account Liberalization by : Christoph Yew
Download or read book Capital Account Liberalization written by Christoph Yew and published by GRIN Verlag. This book was released on 2010-07-02 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2008 in the subject Business economics - Economic Policy, grade: 2.0, University of Osnabrück (Fachbereich Außenwirtschaft), language: English, abstract: During the recent decades, many countries decided to get access to international financial markets by liberalizing their capital accounts. As we will see in this paper, the issues of liberalization are very complex. Many different areas like, for example, growth, inflation or the labor market are affected by it. For some areas, empirical research supports theory and delivers sustainable and significant results. For others, theory is inconsistent or not supported by evidence from the real world. Some special ones, like for instance welfare or productivity, even show that it is important to split up the results to see whose welfare is increased or which's branch productivity is affected. Another interesting point is the connection between crises and capital account liberalization. Due to the financial crises that occurred in the aftermath of liberalization the concept has been controversially debated by academics for a long time. The real connection between these two issues is not yet clear. The structure of this paper is as follows. Section 2 will give short case studies of countries that liberalized their capital account. Section 3 is meant to endow the reader with some basic tools that will be important for the understanding of the concepts that will be presented later on in this paper. This includes definitions and conceptual ideas about measuring capital account liberalization. Section 4 focuses on the theory and empirical findings. In that section, the effects of liberalization on various macroeconomic variables will be presented. Section 5 follows the thoughts of the prior one by having a look at the implications that can be concluded from the theoretical and empirical findings that have been presented in the prior chapter. Section 6 discusses capital account liberalization with r
Book Synopsis South-South Globalization by : S. Mansoob Murshed
Download or read book South-South Globalization written by S. Mansoob Murshed and published by Routledge. This book was released on 2011-06-16 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two prominent features of the current global economy are the world-wide recession brought about by the recent financial crisis, and the emergence of major economic powers from within the developing world such as Brazil, China and India. The former represents the failure of global regulatory policies and macroeconomic imbalances between surplus and deficit countries; the latter is symptomatic of a partial shift in economic power towards developing nations, who are often collectively labelled the global South. The macroeconomic imbalances are unsustainable in the longer run as they mean greater absorption relative to income in deficit nations; they require corrective action and international policy coordination. Reducing imbalances also requires large developing countries to raise their domestic consumption and also imports from the rest of the world and international financial institutions to operate as a lender of last resort. Furthermore, the engines of global growth, especially for developing countries, may no longer lie solely in the traditional developed country markets in the USA, Europe and Japan, known collectively as the global North. Rather South-South trade is growing rapidly, and that could be an engine of growth for the global economy, including both developed and developing countries. The various chapters in this edited volume address issues surrounding global imbalances and the prospects for growth in developing countries propelled by South-South interaction. This book should be of interest to students and researchers focussing on political economics, international economics, globalization, global imbalance and the world-wide recession after 2008.
Book Synopsis Global Crises, Global Solutions by : Bjørn Lomborg
Download or read book Global Crises, Global Solutions written by Bjørn Lomborg and published by Cambridge University Press. This book was released on 2004-10-25 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description
