Download or read book The Turning Tide How Vulnerable are Asian Corporates written by Bo Jiang and published by International Monetary Fund. This book was released on 2019-05-06 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new firm-level dataset with comprehensive information on Asian firms’ FX liabilities, we show that Asia’s nonfinancial corporate sector is vulnerable to a tightening of global financial conditions. Higher global interest rates and exchange rate depreciation increase the probability of default of Asian firms. A 30 percent currency depreciation is associated with a two-notch downgrade in the corporate credit rating (e.g., from A to BBB+), resulting in 7 percent of Asian firms falling into bankruptcy. But the impact is nonlinear—as the firms’ FX liability increases, the balance sheet channel of exchange rate offsets, then dominates, the competitiveness channel. The balance sheet channel offsets the competitiveness channel when the share of U.S. dollar debt is between 10 and 20 percent. We also find that currency depreciation increases firm-level investment on average, but for firms with the share of FX liabilities above 20 percent, investment contracts with depreciation.
Download or read book The Turning Tide How Vulnerable are Asian Corporates written by Bo Jiang and published by International Monetary Fund. This book was released on 2019-05-06 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new firm-level dataset with comprehensive information on Asian firms’ FX liabilities, we show that Asia’s nonfinancial corporate sector is vulnerable to a tightening of global financial conditions. Higher global interest rates and exchange rate depreciation increase the probability of default of Asian firms. A 30 percent currency depreciation is associated with a two-notch downgrade in the corporate credit rating (e.g., from A to BBB+), resulting in 7 percent of Asian firms falling into bankruptcy. But the impact is nonlinear—as the firms’ FX liability increases, the balance sheet channel of exchange rate offsets, then dominates, the competitiveness channel. The balance sheet channel offsets the competitiveness channel when the share of U.S. dollar debt is between 10 and 20 percent. We also find that currency depreciation increases firm-level investment on average, but for firms with the share of FX liabilities above 20 percent, investment contracts with depreciation.
Download or read book Facing the Tides written by Mr.Harald Finger and published by International Monetary Fund. This book was released on 2019-10-22 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper looks empirically at some economic effects of volatile exchange rates and financial conditions and examines policy responses for managing such volatility. It also sheds light on some economic costs that stem from volatile capital flows and exchange rates and analyzes how countries deploy their policy toolkits in response. The data-driven analysis should contribute to ongoing reflections about how to manage volatile capital flows and exchange rates both in Asian EMEs and more broadly.
Download or read book Financial Development Exchange Rate Fluctuations and Debt Dollarization A Firm Level Evidence written by Minsuk Kim and published by International Monetary Fund. This book was released on 2019-08-02 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how financial development influences the debt dollarization of nonfinancial firms in a sample of emerging market economies (EMEs). The macroeconomic channels are identified from an optimal portfolio allocation model and assessed empirically using the accounting information of nonfinancial firms from 21 EMEs during 2009–2017. The results show that financial development, measured by the private credit-to-GDP ratio, mainly reduces the influence of exchange rate volatility in determining a firm's debt currency composition, among other channels. Furthermore, the effect of exchange rate volatility becomes statistically insignificant beyond an estimated threshold credit-to-GDP ratio of 100 percent.
Download or read book SHOCKS AND CAPITAL FLOWS written by GASTON. SAHAY GELOS (RATNA.) and published by International Monetary Fund. This book was released on 2023 with total page 2040 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Economic Outlook May 2009 Asia and Pacific written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2009-05-05 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asia has been hard hit by the global financial crisis. Despite strong fundamentals, its pervasive linkages to the rest of the world have exposed it to the collapse of demand and credit in advanced countries. Exports and industrial production have fallen sharply, capital has started to flow out of the region, and leading indicators suggest further weakness ahead. Against this background, the May 2009 APD REO will discuss the latest developments in Asia, examine the prospects for the period ahead, and consider the policy steps needed to revive economic activity and restore corporate and financial sector health.
Download or read book Multinational Corporations and United States Foreign Policy Hearings Ninety third Congress Ninety fourth Congress Second Session written by United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on Multinational Corporations and published by . This book was released on 1973 with total page 2410 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Economic Prospects June 2018 written by World Bank Group and published by World Bank Publications. This book was released on 2018-06-18 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth has eased but remains robust and is projected to reach 3.1 percent in 2018. It is expected to edge down in the next two years, to 2.9 percent by 2020, as global slack dissipates, trade and investment moderate, and financing conditions tighten. Growth in advanced economies is predicted to decelerate toward potential rates as monetary policy normalizes and the effects of U.S. fiscal stimulus wane. In emerging market and developing economies (EMDEs), growth in commodity importers will remain robust, while the rebound in commodity exporters is projected to mature during the next two years. Progress in per capita income growth will be uneven, however, remaining particularly subdued in Sub-Saharan Africa. Risks to the outlook remain tilted to the downside. The possibilities of escalating trade protectionism and disorderly financial market movements have increased substantially in recent months, and the risk of heightened geopolitical tensions continues to cloud the outlook. EMDE policymakers need to rebuild monetary and fiscal policy buffers and be prepared for rising global interest rates and possible episodes of financial market turbulence. In the longer run, EMDEs need to tackle ongoing structural challenges and boost potential growth, by promoting competitiveness, adaptability to technological change, and trade openness. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
Download or read book China Asia and the New World Economy written by Barry Eichengreen and published by Oxford University Press on Demand. This book was released on 2008-02-21 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely collection of fifteen essays by leading economists explores how rapid economic growth in China and elsewhere in Asia is reshaping the world economy.
Download or read book Global Economic Prospects written by and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Asia written by and published by . This book was released on 1992 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Weekly report to managers of Asia/Pacific operations.
Download or read book Perspectives on Taiwan written by Bonnie S. Glaser and published by Rowman & Littlefield. This book was released on 2019-05-02 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The CSIS Taiwan-U.S. Policy Program (TUPP) program provides a much-needed opportunity for future leaders to gain a better understanding of Taiwan through first-hand exposure to its politics, culture, and history. The papers in this compendium were written by the 10 members of the 2018 TUPP delegation. TUPP provides a much-needed opportunity for future leaders to gain a better understanding of Taiwan through first-hand exposure to its politics, culture, and history. Each participant was asked to reflect on his or her in-country experience and produce a short article analyzing a policy issue related to Taiwan. These papers are a testament to the powerful impact that follows first-hand exposure to Taiwan.
Download or read book Sustainable Development in India and South East Asia written by Ishwar C. Dhingra and published by Taylor & Francis. This book was released on 2023-06-02 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: India and the South-East Asia are typical case studies of interest for students of development economics. These countries have served as role models for most of the emerging economies. Sustainable Development in India and South-East Asia attempts to explore and analyse the nature of economic relationship between India and the South-East Asia. It assesses the prospects for this relationship to grow and flourish. Finally, it makes suggestions to strengthen and carry forward this relationship. Print edition not for sale in South Asia (India, Sri Lanka, Nepal, Bangladesh, Pakistan and Bhutan)
Download or read book Technology Application in Tourism in Asia written by Azizul Hassan and published by Springer Nature. This book was released on 2022-03-02 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book very specifically focuses on technology application in tourism in Asia. The book contains twenty-seven chapters in four sections (i.e., theories, innovations, practices, and future research directions), based on the intriguing qualities and importance of technology applications in the Asian tourism business. This book, a blend of comprehensive and extensive efforts by the contributors and editor, is designed to extensively cover technology applications in tourism in Asia, including distinct topics such as mobile computing, new product designs, innovative technology usages in tourism promotion, technology-driven sustainable tourism development, location-based apps, mobility, accessibility, the post crisis situation of COVID-19, etc. This book is a significant contribution towards the very limited knowledge of technology applications in tourism, with selected examples of Asian countries. The importance of technology in Asian tourism is rapidly increasing, and has led to a rise in luxury, allowing citizens to enjoy leisure travel over both long and short distances. The rise of low-cost airlines and the region’s growing, affluent middle class have changed the tourism environment dramatically. More tourists are booking their holidays online as a result of technological advancements. Online travel is the most important and well-established aspect of Asia's Internet economy. Considering the ongoing trend of technology applications in the tourism industry in Asia, more research attempts like this book need to be made aiming towards exploring diverse aspects. As tourism is an expanding area, this book can serve as a reading companion for tourism students, policy planners and industry professionals. This book is expected to be appreciated by expatriate researchers and researchers having a keen interest in the Asian tourism industry.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Environmental Social and Governance Perspectives on Economic Development in Asia written by William A. Barnett and published by Emerald Group Publishing. This book was released on 2021-11-08 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of the International Symposia in Economic Theory and Econometrics explores the latest economic and financial developments in Asia.
Download or read book The Public Company Transformed written by Brian Cheffins and published by Oxford University Press. This book was released on 2018-09-28 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: For decades, the public company has played a dominant role in the American economy. Since the middle of the 20th century, the nature of the public company has changed considerably. The transformation has been a fascinating one, marked by scandals, political controversy, wide swings in investor and public sentiment, mismanagement, entrepreneurial verve, noisy corporate "raiders" and various other larger-than-life personalities. Nevertheless, amidst a voluminous literature on corporations, a systematic historical analysis of the changes that have occurred is lacking. The Public Company Transformed correspondingly analyzes how the public company has been recast from the mid-20th century through to the present day, with particular emphasis on senior corporate executives and the constraints affecting the choices available to them. The chronological point of departure is the managerial capitalism era, which prevailed in large American corporations following World War II. The book explores managerial capitalism's rise, its 1950s and 1960s heyday, and its fall in the 1970s and 1980s. It describes the American public companies and executives that enjoyed prosperity during the 1990s, and the reversal of fortunes in the 2000s precipitated by corporate scandals and the financial crisis of 2008. The book also considers the regulation of public companies in detail, and discusses developments in shareholder activism, company boards, chief executives, and concerns about oligopoly. The volume concludes by offering conjectures on the future of the public corporation, and suggests that predictions of the demise of the public company have been exaggerated.
