Download or read book External Finance and Adjustment written by Karel Jansen and published by Springer. This book was released on 1997-12-13 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the impact of different sources of external finance on growth and development in different country contexts. An important finding of the study is that 'success' or 'failure' in the productive use of external and domestic financial resources cannot be explained on the basis of single factors such as external shocks or 'bad' versus 'sound' policies. Rather, they are outcomes of complex interactions between changes in exogenous factors (such as fluctuations in external finance and trade shocks), existing economic structures and the responses to shocks by domestic public and private sector agents. This finding also implies that there are no recipes in economic policy-making which are generally applicable; the 'best' policy has to be designed specifically for each country.
Download or read book External Adjustment written by Maurice Obstfeld and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the current account balance increasingly inadequate as a summary of the change in a country's net foreign assets. Nonetheless, unusually large current account imbalances, especially deficits, should remain high on policymakers' list of concerns, even for the richer and less credit-constrained countries. Extreme imbalances signal the need for large and perhaps abrupt real exchange rate changes in the future, changes that might have undesired political and financial consequences given the incompleteness of domestic and international asset markets. Furthermore, of the two sources of the change in net foreign assets -- the current account and the capital gain on the net foreign asset position -- the former is better understood and more amenable to policy influence. Systematic government attempts to manipulate international asset values in order to change the net foreign asset position could have a destabilizing effect on market expectations"--NBER website
Download or read book External Financing and Balance of Payments Adjustment in Developing Countries written by Graham R. Bird and published by . This book was released on 1996 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public finance in adjustment programs written by Ajay Chhibber and published by World Bank Publications. This book was released on 1988 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book External Financing and Balance of Payments Adjustment in Developing Countries written by Graham Bird and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Debt And Disorder written by John Loxley and published by Routledge. This book was released on 2019-03-13 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most important and controversial challenges feeing the international financial and trading system is the need for developing countries to meet their high and rapidly growing external debt obligations and foreign exchange requirements. Developing countries have suffered major shocks in the form of global recession, high real interest rates, weakened terms of trade, and rising protectionism against their exports. The International Monetary Fund, the World Bank, Western central banks, and private financial institutions are seeking to avoid a collapse of the international financial system, and developing countries are seeking to grow through increased trade and access to external financing. Yet the fragility of current international trade and monetary systems seriously threatens the achievement of both sets of objectives. Professor Loxley integrates the structural adjustment experience of Third World countries with the policies, practices, and relationships of external financial agents in his discussion of options for reforming policy and of the limitations inherent in implementing these reforms.
Download or read book Adjustment Programs and Bank Support written by Vittorio Corbo and published by World Bank Publications. This book was released on 1991 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adjustment should begin with policy and institutional reforms to deal with the ultimate causes of any macroeconomic crisis a country is experiencing. Only when progress has been made in reducing inflation and fiscal and balance of payment deficits should other structural reforms begin - of the public sector, trade and competition, the financial sector, and the labor market.
Download or read book External Finance and Policy Adjustment in Africa written by and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Debt and Adjustment in the World Economy written by Rob Vos and published by Palgrave Macmillan. This book was released on 2014-01-14 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dismal experience of many developing countries with the use of large inflows of commercial bank loans and official development assistance in the 1970s and 1980s has manifested the continuous external vulnerability of their economies. This study provides a rigorous theoretical and empirical analysis of the international aspects of development finance, Credit-rationing rules set by bank managers and donor governments, together with uncoordinated macroeconomic policies in the industrialized world, tend to create unstable and inadequate external financing conditions for the developing world. This study not only makes overly clear that a global framework is needed to assess the contribution of external financial resources for development, it provides one as well.
Download or read book The Balance Between Adjustment and Financing written by Jeffrey A. Frankel and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When inflows change to outflows, a country often has less than a year in which to take steps to adjust. Adjustment is via some combination of expenditure-switching policies, such as devaluation, and expenditure-reducing policies, such as higher interest rates. Recent experience suggests that if the country chooses to finance rather than adjust, then it is likely to find that the crisis is much worse when it comes. Specifically, the country may then find that there does not exist any combination of policies that preserves internal balance -- i.e., avoids a recession -- while simultaneously meeting the external financing constraint.
Download or read book External Finance in Thailand s Development written by Karel Jansen and published by Springer. This book was released on 2016-07-27 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1987 and 1990 Thailand experienced double-digit growth, fed by high capital inflows. This made Thailand one of the first developing countries to recover from the recession of the 1980s. Since 1990 growth and capital inflows have continued at a high level. The book makes a detailed study of the macroeconomic impact of capital inflows during recent years and during an earlier period when growth, and capital inflows, were high, in the late 1970s. It is shown that the results of the recent period are more sustainable than those of the earlier period, due to the differences in the nature of capital inflows, in external conditions, and in economic policies.
Download or read book External Finance Growth and Adjustment written by Luis Carlos Jemio and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book External Sector Report July 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-07-17 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF’s 2019 External Sector Report shows that global current account balances stand at about 3 percent of global GDP. Of this, about 35–45 percent are now deemed excessive. Meanwhile, net credit and debtor positions are at historical peaks and about four times larger than in the early 1990s. Short-term financing risks from the current configuration of external imbalances are generally contained, as debtor positions are concentrated in reserve-currency-issuing advanced economies. An intensification of trade tensions or a disorderly Brexit outcome—with further repercussions for global growth and risk aversion—could, however, affect other economies that are highly dependent on foreign demand and external financing. With output near potential in most systemic economies, a well-calibrated macroeconomic and structural policy mix is necessary to support rebalancing. Recent trade policy actions are weighing on global trade flows, investment, and growth, including through confidence effects and the disruption of global supply chains, with no discernible impact on external imbalances thus far.
Download or read book World Finance and Adjustment written by Graham Bird and published by Springer. This book was released on 1985-09-02 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Adjustment Policies and External Finance written by Elie Canetti and published by . This book was released on 1988 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Finance and The Developing Economies written by G. Bird and published by Springer. This book was released on 2003-12-19 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many challenges facing the economies of developing countries. Capital volatility, financial crises, aid, debt and the IMF are all issues that have received a great deal of attention over recent years. In International Finance and The Developing Economies , Graham Bird provides an essentially non-technical discussion of these issues, examining the underlying political economy and discussing the policy alternatives that are available.
Download or read book Fiscal Adjustment and Deficit Financing During the Debt Crisis written by and published by World Bank Publications. This book was released on with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt:
