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Why Have Economic Reforms in Mexico Not Generated Growth?

Kehoe, Timothy J. - 2010

best, particularly in comparison with that of China. Comparing these countries and reviewing the literature, we conclude … gained from trade, and by some measures, more so than China. We sketch out a theory in which developing countries can grow … continuing reforms, Chinese growth is likely to slow down sharply, perhaps leaving China at a level less than Mexico's real GDP …

Persistent link: https://www.econbiz.de/10012462077

The Transformation and Performance of Emerging Market Economies Across the Great Divide of the Global Financial Crisis

Bordo, Michael D. - 2019

The process of central bank (CB) evolution by emerging market economies (EMEs), including central bank independence (CBI) and transparency (CBT), converged towards that of the advanced economies (AEs) before the Global Financial Crisis (GFC) of 2007-2008. It was greatly aided by the adoption of...

Persistent link: https://www.econbiz.de/10012480286

Fiscal Policy and Financial Depth

Caballero, Ricardo J. - 2004

Most economists and observers place the lack of fiscal discipline at the core of the recent Argentine crisis. This begs the question of how countries like Belgium or Italy (pre-Maastricht) could run large fiscal deficits and accumulate debts far beyond those of Argentina, without experiencing...

Persistent link: https://www.econbiz.de/10012468161

Business Cycles in Emerging Economies : The Role of Interest Rates

Neumeyer, Pablo A. - 2004

We find that in a sample of emerging economies business cycles are more volatile than in developed ones, real interest rates are countercyclical and lead the cycle, consumption is more volatile than output and net exports are strongly countercyclical. We present a model of a small open economy,...

Persistent link: https://www.econbiz.de/10012468306

Debt Intolerance

Reinhart, Carmen M. - 2003

This paper introduces the concept of debt intolerance,' which manifests itself in the extreme duress many emerging markets experience at debt levels that would seem manageable by advanced country standards. We argue that safe' external debt-to-GNP thresholds for debt intolerant countries are...

Persistent link: https://www.econbiz.de/10012468789

A Currency of One's Own? An Empirical Investigation on Dollarization and Independent Currency Unions

Edwards, Sebastian - 2003

In this paper we analyze whether common currency' countries that is, dollarized and independent currency union countries have outperformed countries that have a currency of their own. The paper is empirical and estimates jointly the probability of being a common currency country and outcome'...

Persistent link: https://www.econbiz.de/10012469189

A Distant Mirror of Debt, Default, and Relief

Reinhart, Carmen M. - 2014

We take a first pass at quantifying the magnitudes of debt relief achieved through default and restructuring in two distinct samples: 1979-2010, focusing on credit events in emerging markets, and 1920-1939, documenting the official debt hangover in advanced economies that was created by World...

Persistent link: https://www.econbiz.de/10012458088

How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms

Mullins, William - 2013

Using a survey of 800 CEOs in 22 emerging economies we show that CEOs' management styles and philosophy vary with the control rights and involvement of the owning family and founder: CEOs of firms with greater family involvement have more hierarchical management, and feel more accountable to...

Persistent link: https://www.econbiz.de/10012459265

Fiscal Procyclicality in Commodity Exporting Countries : How Much Does it Pour and Why?

Arroyo Marioli, Francisco; Végh, Carlos A. - National Bureau of Economic Research - 2023

A large literature has documented that fiscal policy is procyclical in emerging markets and developing economies and acyclical/countercyclical in advanced economies. This paper analyzes fiscal procyclicality in commodity-exporting countries. It first shows that the degree of fiscal...

Persistent link: https://www.econbiz.de/10014322818

Five Facts about the UIP Premium

Kalemli-Ozcan, Sebnem; Varela, Liliana - National Bureau of Economic Research - 2021

We document five novel facts about Uncovered Interest Parity (UIP) deviations vis-à-vis the U.S. dollar for 34 currencies of advanced economies and emerging markets, using survey data on expected exchange rate. First, the UIP premium co-moves with global risk perception (VIX) for all...

Persistent link: https://www.econbiz.de/10012585407