Download or read book Liberalization of the Capital Account written by Mr.Donald J. Mathieson and published by International Monetary Fund. This book was released on 1992-06-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of capital controls diminishes, examines the medium-term benefits and costs of an open capital account, and analyzes the policy measures that could help sustain capital account convertibility. As the effectiveness of capital controls eroded more rapidly in the 1980s than in earlier periods, new constraints were placed on the formulation of stabilization and structural reform programs. However, experience suggests that certain macroeconomic, financial, and risk management policies would allow countries to attain the benefits of capital account convertibility and reduce the financial risks created by an open capital account.

Download or read book Short and Long run Integration written by Graciela Laura Kaminsky and published by World Bank Publications. This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do controls on capital flows persistently isolate domestic markets from international markets? Or is the insulation they provide just ephemeral?

Download or read book Controls on Capital Inflows and External Shocks written by Antonio C. David and published by World Bank Publications. This book was released on 2007 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author attempts to analyze whether price-based controls on capital inflows are successful in insulating economies against external shocks. He presents results from vector auto regressive (VAR) models that indicate that Chile and Colombia, countries that adopted controls on capital inflows, seem to have been relatively well insulated against external disturbances. Subsequently, he uses the auto regressive distributed lag (ARDL) approach to co-integration to isolate the effects of the capital controls on the pass-through of external disturbances to domestic interest rates in those economies. The author concludes that there is evidence that the capital controls allowed for greater policy autonomy.

Download or read book Collateral Damage written by Mr.Zhiwei Zhang and published by International Monetary Fund. This book was released on 2007-01-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To minimize evasion of controls, countries often intensify inspections at the border and increase documentation requirements. Thus, the cost of conducting trade rises. The paper finds that a one standard-deviation increase in the controls on trade payment has the same negative effect on trade as an increase in tariff by about 14 percentage points. A one standard-deviation increase in the controls on FX transactions reduces trade by the same amount as a rise in tariff by 11 percentage points. Therefore, the collateral damage in terms of foregone trade is sizable.

Download or read book Are Price based Capital Account Regulations Effective in Developing Countries written by Antonio C. David and published by World Bank Publications. This book was released on 2007 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded.

Download or read book Capital Exports to Less Developed Countries written by W. Guth and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is little need today for an author publishing a work on less developed countries to emphasise the importance of this question. In view of the large and increasing number of publications on this subject - and in fairness to the reader - it seems appropriate, however, to outline briefly what the book sets out to describe. As the title conveys, I have concentrated on the financial side of the problem without neglecting altogether the important political, social and human aspects. I have primarily dealt with the problems of capital formation, capital transfer, capital employment and the associated balance of payments considerations. The attempt is made to set out in an integrat ed analysis the problems of capital exports to less developed countries both from the point of view of the creditor and of the debtor, be they countries or individuals. This method appeared all the more appropriate since the provision oflong term funds for capital exports and the question of their employment in the capital importing countries are so closely interconnected that they could hardly be treated separately.

Download or read book Pick Your Poison written by Mr.Shigeru Iwata and published by International Monetary Fund. This book was released on 2003-05-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We characterize a country's exchange rate regime by how its central bank channels a capital account shock across three variables: exchange depreciation, interest rates, and international reserve flows. Structural vector autoregression estimates for Brazil, Mexico, and Turkey reveal such responses, both contemporaneously and over time. Capital account shocks are further shown to affect output growth and inflation. The nature and magnitude of these effects may depend on the exchange rate regime.

Download or read book Liberalization of the Capital Account written by Donald J. Mathieson and published by . This book was released on 1992 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Effects of Financial Globalization on Developing Countries Some Empirical Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-12-02 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book Effects of Financial Globalization on Developing Countries written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2003-09-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.

Download or read book Die Dritte Welt written by and published by . This book was released on 1975 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Intermediation Beyond the Debt Crisis written by Donald R. Lessard and published by . This book was released on 1985 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Management of Capital Flows written by United Nations Conference on Trade and Development and published by United Nations Publications. This book was released on 2003 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication contains seven papers presented at a workshop jointly organised by UNCTAD and the Government of Egypt, held in Cairo on 20-21 March 2001. Subjects discussed include: corporate governance in emerging markets; the OECD experience with capital account liberalisation; capital account management in India and Malaysia; the Chinese economy, financial sector restructuring and international investment; post-crisis financial reforms in South Korea; public debt and macroeconomic management in sub-Saharan Africa; capital flows, capital accounts and foreign exchange regimes in Africa.

Download or read book Postwar Transfer of Resources Abroad by Latin America written by United Nations. Economic Commission for Latin America and the Caribbean and published by New York : United Nations. This book was released on 1992 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Equities and Emerging Stock markets written by Davide Taliente and published by . This book was released on 1995 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text seeks to quantify the potential benefits to investors of judicious investment in emerging markets through a portfolio simulation analysis in order to illustrate the beneficial effect of these capital flows in simulating developing economies in a historical context, and to identify the steps that emerging market policymakers should take in order to simulate OECD portfolio investment through an econometric analysis of investor polls.

Download or read book Insurance of Bank Lending to Developing Countries written by Henry Christopher Wallich and published by . This book was released on 1984 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book United States Interest Rates and the Interest Rate Dilemma for the Developing World written by J. Pierre V. Benoît and published by Greenwood. This book was released on 1986 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major economic dilemma for the developing world--how to achieve interest rate levels that are not inflationary but are high enough to encourage saving and domestic development--is brought into sharp focus by a leading economist with over twenty-five years experience working with third world governments. In this comprehensive analysis of the causes and international consequences of high US interest rates, Benoit thoughtfully considers many factors. Contrasting Islamic and Western banking practices; describing the real causes of the international debt crisis; revealing the strategies of creditor banks, debtor countries and others; and focusing particularly on Third World dependence on US economic health, the author offers an honest appraisal of the extent to which developing countries are responsible for their own predicament. He questions the basic premises underlying US and other aid policies and calls for increased efficiency, honesty, and self-reliance on the part of developing countries.