Download or read book Exchange Rate Policy and Empirical Research Concerning Economic Growth written by Heimer Björkqvist and published by . This book was released on 1968 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange rate Regime and Economic Growth a Review of the Theoretical and Empirical Literature written by Marjan Petreski and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Changes in Exchange Rates in Rapidly Developing Countries written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-12-01 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.

Download or read book When and Why Worry About Real Exchange Rate Appreciation The Missing Link Between Dutch Disease and Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-12-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and net exports. We also observe that real exchange rate misalignment due to overvaluation and higher volatility of the real exchange rate lower growth. Regarding the effect of undervaluation of the exchange rate on economic growth, the evidence is mixed and inconclusive. However, there is no evidence in the literature that Dutch disease reduces overall economic growth. Policy responses should aim at adequately managing the boom and the risks associated with it.

Download or read book Impact Estimation Of Exchange Rates On Exports And Annual Update Of Competitiveness Analysis For 34 Greater China Economies written by Khee Giap Tan and published by World Scientific. This book was released on 2019-11-15 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese economy has been playing an increasingly significant role on the global stage. This book is the sixth annual project of Asia Competitiveness Institute studying competitiveness at the sub-national level of Greater China. ACI's flagship competitiveness study not only adopts a comprehensive framework to measure competitiveness by incorporating 102 indicators under four environments and 11 sub-environments, but is also undertaken at the sub-national level to account for the considerable disparities within a large economy like Greater China. The comparative strengths and weaknesses based on the scores and rankings as well as the what-if simulation analysis can be used to formulate development strategies that are specific and of practical value for each sub-national economy and region.The Shapley methodology adopted by ACI introduces a novel approach for the assignment of weights to the various indicators that constitute competitiveness. This concept has introduced an element of objectivity in terms of the assignment of weights. The findings using the Shapley value also tend to validate the robustness of results obtained from the competitiveness studies over the past years.Moreover, the empirical research featured in this book attempts to understand the drivers of exports of Mainland China provinces, with a specific focus on real effective exchange rate movements and volatility. Nowadays with the international flows of goods and capital becoming ubiquitous and comprising an important aspect of national competitiveness, the role of exchange rate is drawing much more policy attention. In view of this, the research findings presented in this book make an important academic and policy contribution by empirically examining the relationship between exports and exchange rate.Finally, the timing of this publication makes it indispensable to include some dedicated discussions of the trade disputes between the US and China. Several topics would be discussed in this book, including China's protection on Intellectual Property Rights, its violation of World Trade Organisation rules, challenges to its economic growth, the development of its three regional megalopolises, and how to mitigate the impact and ramification of its trade war against the US. This book attempts to identify the growing concerns in the US-China trade tension and provide suggestions for China's development in the future.

Download or read book Openness and Development written by Franz P. Lang and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Openness and development are key words of central importance in describing the dynamism within the present world economy. Openness denotes the entire process of internationalization and liberalization now underway in the commodity markets, factor markets and financial mar kets. Today there is hardly anational economy or company left which can afIord to ignore international dependencies. In the broadest sense of the word, development encompasses an those dynamic endogenous economic processes which create prosperity and a high standard of living via inno vation and structural change. Modem economic research has shown that both of these fields of economic causalities - which are themselves afIected by a wide variety of interdependencies - detennine the economic destiny of the national economies and of their actors in the industrial, newly industrializing, transitional and developing countries. The present volume focuses on the significance of these two key words while conveying, at the same time, an impression of the broad spectrum of related issues. It contains papers written by economists working at uni versities and research institutes as well as papers submitted by "economic practitioners"; the latter, in particular, provide valuable insights on current issues by taking account of theoretical and practical considerations. Whereas the papers printed in Part I analyze their subjects from a general perspective, the emphasis in Part TI is on specific regional aspects. Part I begins with a theoretical-empirical study on the development of foreign trade.

Download or read book Trade Investment and Economic Growth written by Pooja Lakhanpal and published by Springer Nature. This book was released on 2021-05-10 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book contributes to the growing literature pertaining to empirical and policy issues in international trade, foreign capital flows and issues in finance, implications for India and emerging economies related to trade and development interface, and analysis of sector level growth and development in India. Further, the focus is on the policy aspects of these themes and their role in fostering economic development in the context of India and other emerging market economies. The discourse focuses mainly on empirical work and econometric details. The relevant issues are investigated using state of the art techniques such as gravity models, panel co-integration, generalized hyperbolic distributions, SEM, FMOLS and Probit models. In addition, detailed literature survey, discussions on data availability, issues related to statistical estimation techniques and a theoretical background, ensure that each chapter significantly contributes to the ever-growing literature on international trade and capital flows. The readers shall find an engaging dialogue on the crucial role played by policy and the trade-capital flows-growth experience of emerging economies. The book is relevant for those who are interested in contemporary issues in trade, growth and finance as well as for students of advanced econometrics who may benefit from the analytical and econometric exposition. The empirical evidences provided here could serve as ready reference for academicians, researchers and policy makers, particularly in emerging economies facing similar challenges.

Download or read book Exchange Rate Economics written by Peter Isard and published by Cambridge University Press. This book was released on 1995-09-28 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key issues that policymakers confront in deciding whether, and how, to try to stabilize exchange rates. The treatment of most topics is reasonably compact, with extensive references to the literature for those desiring to pursue individual topics further. The level of exposition is relatively easy to comprehend; the historical and institutional material (part I) and the discussion of policy issues (part III) contain no equations or technical notation, while the chapters on models of exchange rate behavior (part II) are written at a level intelligible to first-year graduate students or advanced undergraduates. The book will enlighten both students and policymakers, and should also serve as a valuable reference for many research economists.

Download or read book Exchange Rate Regimes written by Atish R. Ghosh and published by MIT Press. This book was released on 2002 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.

Download or read book Exchange Rate Economics written by Mr.Mark P. Taylor and published by International Monetary Fund. This book was released on 1991-06-01 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: We survey the literature on the two main views of exchange rate determination that have evolved since the early 1970s: the monetary approach to the exchange rate (in flex-price, sticky-price and real interest differential formulations) and the portfolio balance approach. We then go on to discuss the extant empirical evidence on these models and conclude by discussing how the future research strategy in the area of exchange rate determination is likely to develop. We also discuss the literature on foreign exchange market efficiency, on exchange rates and ‘news’ and on international parity conditions.

Download or read book Economic Stagnation Fixed Factors and Policy Thresholds written by William Russell Easterly and published by World Bank Publications. This book was released on 1991 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic policies, not initial conditions, determine whether countries stagnate. The black market premium on foreign exchange is an important factor in stagnation.

Download or read book Exchange Rate Parity for Trade and Development written by Pan A. Yotopoulos and published by Cambridge University Press. This book was released on 1996 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extends recent theories of incomplete markets to investigate empirically the appropriate balance between the market and the state in the trade relations between developed and developing countries. The conclusion is that in an ideal world government intervention in foreign exchange and trade is necessary in developing countries in the early stages and inevitably decreases as development occurs. Rationing of foreign exchange prevents a 'soft currency distortion' that commonly afflicts developing countries and can turn comparative advantage trade into competitive devaluation trade, with severe losses of income and welfare. Yotopoulos finds that the level of underdevelopment narrowly circumscribes and conditions the extent to which free-market, free-trade, laissez-faire can be beneficial, contrary to the mainstream policy paradigm as currently applied. The analysis and tests draw on empirical research from seventy countries and four extended country studies to confirm the usefulness and validity of the theoretical framework.

Download or read book The Economics of Adjustment and Growth written by Pierre-Richard Agénor and published by Academic Press. This book was released on 2000 with total page 752 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Adjustment and Growth moves the study of macroeconomics for developing economies away from the traditional static approach and toward a more dynamic, growth-oriented framework. Pierre-Richard Agénor presents an analysis of policy issues involved in designing economic adjustment programs in developing countries and structural reform policies aimed at fostering economic growth. Emphasizing the need to take into account the structural features of these countries, his work dwells on the considerable body of analytical research and empirical evidence of the past two decades in academic circles and international organizations. It provides cutting-edge analysis of many current real-world issues, such as financial crises and the role of trade integration in fostering economic growth. Overall the book offers an impressive overview of the macroeconomic and structural adjustment issues facing developing economies today.

Download or read book How Do National Policies Affect Long run Growth written by and published by World Bank Publications. This book was released on 1992 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book 2017 Impact Estimation Of Exchange Rate On Foreign Direct Investment Inflows And Annual Update Of Competitiveness Analysis For 34 Greater China Economies written by Khee Giap Tan and published by World Scientific. This book was released on 2018-11-30 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the fifth annual project of the Asia Competitiveness Institute studying competitiveness at the sub-national level of Greater China. ACI's flagship competitiveness study adopts a comprehensive framework to measure competitiveness by incorporating 102 indicators under four environments and 11 sub-environments. By undertaking the study at the sub-national level, it accounts for the considerable disparities within a large economy like Greater China. The study's unique methodology incorporates comparative strengths and weaknesses, and what-if policy simulations aimed at policy suggestions for each sub-national economy and region.A new feature of this competitiveness study introduces the concept of Shapley value for the assignment of weights to the various indicators that constitute competitiveness. This methodological innovation not only adds an element of objectivity in terms of the assignment of weights, but also validates the robustness of results obtained from the competitiveness studies over the past years.Moreover, the empirical research featured in this book attempts to understand the drivers of FDI inflows to Mainland China, with a specific focus on exchange rate movements and volatility. Nowadays with the international flows of goods and capital becoming ubiquitous and comprising an important aspect of national competitiveness, the role of exchange rate is drawing much more policy attention. In view of this, the research findings presented in this book make an important academic and policy contribution by empirically examining the relationship between FDI inflows and exchange rate.Finally, the timing of this publication makes it indispensable to include the interpretation and reconciliation of policy development of China after the 19th National Congress of the Communist Party of China held in October 2017. With the growing prosperity of its people and the improvement of its international status, China would 'realise the Chinese Dream of national rejuvenation and see the people realise their aspirations for a better life.' As such, China has achieved the transformation from regaining dignity to becoming prosperous and growing strong to be a great modern socialist country visualised by President Xi Jinping. This book attempts to investigate the vision of 'growing strong to be a great modern socialist country' from different aspects.

Download or read book A Survey of Empirical Research on Nominal Exchange Rates written by Jeffrey A. Frankel and published by . This book was released on 1994 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: We survey the empirical literature on floating nominal exchange rates over the past decade. Exchange rates are difficult to forecast at short- to medium-term horizons. There is a bit of explanatory power to monetary models such as the Dornbusch 'overshooting' theory, in the form of reaction to 'news' and in forecasts at long-run horizons. Nevertheless, at short horizons, a driftless random walk characterizes exchange rates better than standard models based on observable macroeconomic fundamentals. Unexplained large shocks to floating rates must then, logically, be due either to innovations in unobservable fundamentals, or to non-fundamental factors such as speculative bubbles. The observed difference in exchange rate and macroeconomic volatility under different nominal exchange rate regimes makes us skeptical of the first view. The theory and evidence on speculative bubbles, however, is not conclusive. We conclude with the hope that promising new studies of the microstructure of the foreign exchange market might eventually rise to insights into these phenomena.

Download or read book Parallel Exchange Rates in Developing Countries written by Miguel A. Kiguel and published by Springer. This book was released on 2016-07-27 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: '...the most definitive study of the subject, assembling an all-star cast to address the many outstanding questions and succeeding beyond expectations in combining elegant theory and state of the art econometrics to reach very sensible policy conclusions.' - Mohsin S. Khan, Deputy Director, Research Department, International Monetary Fund ' This book fills an important vacuum in the literature of the economic consequences of parallel markets and should prove of great value to students of economic development and to policy-makers in developing countries as they struggle to reform their exchange rate and trade incentive systems. Here they will find all that they need to know.' - Vittorio Corbo, Professor of Economics, Universidad Catolica de Chile 'A most comprehensive treatment of the relationships between parallel foreign exchange markets and macroeconomic policies, both across countries and over time. The book substantially enhances our understanding of how these systems work in practice and will be of great interest to policy-makers, researchers and graduate students of economic policy.' - Samuel M. Wangwe, Professor of Economics, University of Dar es Salaam and Executive Director, Economic and Social Research Foundation, Dar es Salaam, Tanzania This book examines extensive empirical evidence on the macroeconomic implications of parallel exchange rates in developing countries. Eight case-studies from Africa, Latin America, and Turkey provide detailed evidence on the emergence of parallel exchange rates, their impact on macroeconomic performance, and the criteria for successful exchange-rate unification. A chapter on European dual exchange rates summarizes the contrasting experience of industrial countries. An overview chapter lays out the analytical framework, assesses the evidence, and draws policy conclusions.