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Rising Income Inequality : Technology, or Trade and Financial Globalization?

Papageorgiou, Chris - 2008

We examine the relationship between trade and financial globalization and the rise in inequality in most countries in … recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited … overall impact of globalization reflects two offsetting tendencies: whereas trade globalization is associated with a reduction …

Persistent link: https://www.econbiz.de/10014409050

Global Contagion of Financial Reforms

Li, Nan - 2024

We construct an extensive database of domestic financial reforms spanning 90 countries from 1973 to 2014. Utilizing this dataset, we estimate a structural model that incorporates various factors identified in the existing literature to explain the global contagion of financial reforms. Our...

Persistent link: https://www.econbiz.de/10015328259

Economic Transformation, Population Growth, and the Long-Run World Income Distribution.

Chamon, Marcos - 2006

Persistent link: https://www.econbiz.de/10012691055

An Anatomy of Credit Booms : Evidence From Macro Aggregates and Micro Data

Terrones, Marco E. - 2008

We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...

Persistent link: https://www.econbiz.de/10014409056

Monetization in low- and middle-income countries

McLoughlin, Cameron; Kinoshita, Noriaki - 2012

The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...

Persistent link: https://www.econbiz.de/10009618525

An Anatomy of Credit Booms

Terrones, Marco E. - 2008

Persistent link: https://www.econbiz.de/10012677365

Emerging Economy Responses to the Global Financial Crisis of 2007-09

Yehoue, Etienne B. - 2009

This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by many emerging market economies. It offers an empirical analysis of the key determinants affecting the decision to undertake these measures over the period September 2008-March...

Persistent link: https://www.econbiz.de/10012677511

Financial Spillovers to Emerging Markets during the Global Financial Crisis

Frank, Nathaniel - 2009

In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GARCH model is estimated in order to gauge the extent of co-movements of these...

Persistent link: https://www.econbiz.de/10012677776

The Transmission of Financial Stress from Advanced to Emerging Economies

Danninger, Stephan - 2009

This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system's ability to intermediate may be impaired. Previous financial...

Persistent link: https://www.econbiz.de/10012677798

How Effective is Fiscal Policy Response in Systemic Banking Crises?

Gupta, Sanjeev - 2009

This paper studies the effects of fiscal policy response in 118 episodes of systemic banking crisis in advanced and emerging market countries during 1980-2008. It finds that timely countercyclical fiscal measures contribute to shortening the length of crisis episodes by stimulating aggregate...

Persistent link: https://www.econbiz.de/10012677822