Download or read book Potential Output Growth in Emerging Market Countries written by Mr.Jorge Roldos and published by International Monetary Fund. This book was released on 1997-09-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates potential output and the sources of growth in Chile during 1970-96. Actual output is cointegrated with the quality-adjusted measures of capital and labor, and constant returns to scale cannot be rejected. The estimates of potential output show a positive output gap in the years when the Chilean economy was deemed to be overheated. In 1986-90, the quality-adjusted labor variable explains close to 60 percent of the growth rate of GDP, while during 1991-95 capital formation plays a dominant role. The contribution of TFP growth in Chile is relatively small, but, based on a comparison with European and East Asian experiences, it is expected to increase in the medium term.
Download or read book Chilean Banking Crisis of the 1980s written by Gonzalo Ismael Sanhueza and published by . This book was released on 2001 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Great Depressions of the Twentieth Century written by Timothy Jerome Kehoe and published by . This book was released on 2007 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide Great Depression of the 1930s was a watershed for both economic thought and economic policymaking. It led to the belief that market economies are inherently unstable and to the revolutionary work of John Maynard Keynes. Its impact on popular economic wisdom is still apparent today. Great Depressions of the Twentieth Century, which uses a common framework to study sixteen depressions from the interwar period in Europe and America, as well as from more recent times in Japan and Latin America, challenges the Keynesian theory of depressions. It develops and uses a methodology for studying depressions that relies on growth accounting and the general equilibrium growth model. Different chapters in this book analyze the depressions in Canada, France, Germany, Italy, the United Kingdom, and the United States in the 1930s, the depressions in Argentina, Brazil, Chile, and Mexico in the 1980s, and recent depressions in Argentina, Finland, Japan, New Zealand, and Switzerland. Besides the editors themselves, the contributors are Pedro Amaral, Paul Beaudry, Raphael Bergoeing, Mirta Bugarin, Harold Cole, Juan Carlos Conesa, Mario Crucini, Roberto Ellery, Victor Gomes, Jonas Fisher, Fumio Hayashi, Andreas Hornstein, James Kahn, Patrick Kehoe, Finn Kydland, James MacGee, Lee Ohanian, Fabrizio Perri, Franck Portier, Vincenzo Quadrini, Kim Ruhl, Raimundo Soto, Arilton Teixeira, and Carlos Zarazaga.
Download or read book This Time Is Different written by Carmen M. Reinhart and published by Princeton University Press. This book was released on 2011-08-07 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical investigation of financial crises during the last 800 years.
Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Download or read book Prevention and Resolution of Sovereign Debt Crises written by Ms.Julianne Ams and published by INTERNATIONAL MONETARY FUND. This book was released on 2018-09-13 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The IMF’s Role in the Prevention and Resolution of Sovereign Debt Crises” provides a guided narrative to the IMF’s policy papers on sovereign debt produced over the last 40 years. The papers are divided into chapters, tracking four historical phases: the 1980s debt crisis; the Mexican crisis and the design of policies to ensure adequate private sector involvement (“creditor bail-in”); the Argentine crisis and the search for a durable crisis resolution framework; and finally, the global financial crisis, the Eurozone crisis, and their aftermaths.
Download or read book The Effects of Protectionism on a Small Country written by Michael Bahaamonde Connolly and published by World Bank Publications. This book was released on 1994-01-01 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Competently executed series of studies on the distorted trade regime of Uruguay until the late 1980s and the effect of protectionism on a variety of economic outcomes. Topics covered range from the political economy of trade distortions to the sectoral impact of specific regulations. Worth reading"--Handbook of Latin American Studies, v. 57.
Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Download or read book Authoritarianism and the Elite Origins of Democracy written by Michael Albertus and published by Cambridge University Press. This book was released on 2018-01-25 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that - in terms of institutional design, the allocation of power and privilege, and the lived experiences of citizens - democracy often does not restart the political game after displacing authoritarianism. Democratic institutions are frequently designed by the outgoing authoritarian regime to shield incumbent elites from the rule of law and give them an unfair advantage over politics and the economy after democratization. Authoritarianism and the Elite Origins of Democracy systematically documents and analyzes the constitutional tools that outgoing authoritarian elites use to accomplish these ends, such as electoral system design, legislative appointments, federalism, legal immunities, constitutional tribunal design, and supermajority thresholds for change. The study provides wide-ranging evidence for these claims using data that spans the globe and dates from 1800 to the present. Albertus and Menaldo also conduct detailed case studies of Chile and Sweden. In doing so, they explain why some democracies successfully overhaul their elite-biased constitutions for more egalitarian social contracts.
Download or read book Economic Reforms in Chile written by R. Ffrench-Davis and published by Springer. This book was released on 2015-12-04 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of neo-liberal and progressive economic reforms and policies implemented in Chile since the Pinochet dictatorship. The core thesis of the book is that there is not just 'one Chilean economic model', but that several have been in force since the coup of 1973.
Download or read book The IMF and the Silent Revolution written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 2000-09-11 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This pamphlet is adapted from Chapter 1 of Silent Revolution: The International Monetary Fund, 1979-89, by the same author. That book is full of history of the evolution of the Fund during 11 years in which the institution truly came of age as a participant in the international financial system.
Download or read book Debt Equity Swaps written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the development of debt/equity swaps in the years following the emergence of the international debt crisis. It discusses some of the possible advantages and disadvantages offered by such swaps to three groups of participants--the commercial banks, the investing companies, and the indebted countries. It also provides an analysis of how these swaps are treated in the balance of payments accounts of an indebted country and discusses their possible effects on that country’s money supply, foreign exchange rate and economic growth. The paper concludes that debt/equity swaps can help to make a country’s debt burden more manageable and can contribute to economic growth, but only to a limited extent.
Download or read book Banking Crises in Latin America written by Ricardo Hausmann and published by IDB. This book was released on 1996 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking crises occur in both industrial and developing countries, but in Latin America they last longer, affect a larger segment of the banking industry and cost the public more. In Banking Crises in Latin America, distinguished policymakers, academicians and bankers examine the main causes of such crises, how governments can manage them more effectively, and how they can be prevented. The six sections of the book focus on the salient features of Latin American banking systems, the macroeconomic causes of banking crises, the microeconomic factors leading to bank difficulties, and the particular constraints that make the management of banking crises more complicated in Latin America than in industrial countries. Policy recommendations at both the macro- and microeconomic level aim to improve the resilience of banking systems to unanticipated shocks. The last section of the book turns the focus to experiences of individual countries. Contributors include Eduardo Aninat, Guillermo Calvo, Michel Camdessus, Sebastian Edwards, Enrique Iglesias, Lawrence Summers and Paul Volcker.
Download or read book Passing the Buck written by Philip A. Wellons and published by Harvard Business Review Press. This book was released on 1987 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Chile and the Neoliberal Trap written by Andrés Solimano and published by Cambridge University Press. This book was released on 2012-04-30 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes Chile's political economy and its attempt to build a market society in a highly inegalitarian country.
