Showing 1 - 10 of 89
This paper explores the interaction between labor market deregulation, monetary union and unemployment. Monetary policy autonomy and monetary union are compared in their influence on the optimal level of labor market deregulation consented to and wages demanded by labor unions. EMU leads to...
Persistent link: https://www.econbiz.de/10010840818
This article provides a general and robust empirical examination of speculative pressure on various exchange rate regimes using an unusually large panel of monthly data for developed countries, analysed within the framework of Limited- Dependent Variable (LDV) models with various innovations and...
Persistent link: https://www.econbiz.de/10009391983
This paper examines whether individual countries’ data show that FDI inflows facilitate capital flight and whether capital flight occurs due to poor domestic investment climate or is it due to discriminatory treatment against residents’ investment. Three capital flight measures are used....
Persistent link: https://www.econbiz.de/10010840783
Why are some currency crises followed by economic contractions while others are not? This paper is an attempt at answering this query. In particular, we investigate two closely related questions. First, we explore whether there is a difference in the output effects of a devaluation during...
Persistent link: https://www.econbiz.de/10009391981
The main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability...
Persistent link: https://www.econbiz.de/10009392045
The paper studies the effects of regional integration on the incentives of mem - bers and non-members to undertake multilateral trade liberalization. Using a three- country political economy model with imperfect competion, it shows how regionalism can undermine support for multilateralism....
Persistent link: https://www.econbiz.de/10010840678
Traditional economic integration theory states that the formation of and economic union will effect both the member and non-member countries. This paper adds to traditional theory on economic integration by studying how non-member countries carry out their monetary policy in order tp counter...
Persistent link: https://www.econbiz.de/10010840693
Theory is ambiguous as to how globalization influences the relative performances of rich and poor countries. This paper surveys some recent literature on the historical links between international commodity and factor market integration and convergence. Focussing on the late 19th century, a...
Persistent link: https://www.econbiz.de/10010840715
I. Background : Trilateral cooperation goes back 12 years ago, when the leaders of the three countries had an informal breakfast meeting on the occasion of the ASEAN+3 in November 1999. This was the first meeting among the heads of governments of these three countries in modern times....
Persistent link: https://www.econbiz.de/10010840733
Non-transparency is a term given in this paper to a set of government policies that increase the risk and uncertainty faced by economic actors (foreign investors). The higher in risk and uncertainty stem from the presence of bribery and corruption, unstable economic policies, weak and poorly...
Persistent link: https://www.econbiz.de/10010840736