Showing 1 - 10 of 19
Using empirical analysis, complemented with case studies, this paper studies under which circumstances IMF programs manage to catalyze private capital flows into the countries concerned. While we found no catalysis in general, the situation differs very much depending on the type of capital flow...
Persistent link: https://www.econbiz.de/10012733136
Se examina la integración Norte-Sur en el continente norteamericano, entre los países del Tratado de Libre Comercio (méxico, Estados Unidos y Canadá) y Argentina. Por lo que respecta a la integración comercial, analizaremos los efectos teóricos previsibles sobre algunas variables y...
Persistent link: https://www.econbiz.de/10005057497
Empirical evidence shows that fixed exchange rates do not provide more fiscal discipline than flexible regimes, despite the fact that, in priciple, fixing the exchange rate imposes important restrictions on seignoriage revenues. A more detailed analysis of seignoriage allows to explain the...
Persistent link: https://www.econbiz.de/10005618386
This paper explores the impact of actual exchange rate regimes on fiscal discipline, which we purportedly link to the effect of announcing the peg and to the availability of external funds. To stress this point, the focus of the analysis is emerging markets spanning from the beginning of the...
Persistent link: https://www.econbiz.de/10005408144
Changes in sovereign ratings are strongly asymmetric, as downgrades tend to be deeper and faster than upgrades. In other words, once a country loses its initial status it takes a long time to recover it. Using S&P data, we characterise “rating cycles” in terms of their duration and...
Persistent link: https://www.econbiz.de/10011096906
Workers' remittances have become a major source of financing for developing countries and are especially important in Latin America and the Caribbean, which is at the top of the ranking of remittance receiving regions in the world. While there has been a recent surge in analytical work on the...
Persistent link: https://www.econbiz.de/10010772434
In this paper we compare the determinants of loan dollarisation in two emerging market regions, namely Central, Eastern and Southeastern Europe (CESEE) and Latin America, by means of a meta-analysis of 32 studies that provide around 1,200 estimated coefficients for six drivers of foreign...
Persistent link: https://www.econbiz.de/10010862261
Persistent link: https://www.econbiz.de/10010932848
In this paper we compare the determinants of loan dollarization in two emerging market regions, namely Central, Eastern and Southeastern Europe (CESEE) and Latin America, through a meta-analysis of 32 studies that provide around 1,200 estimated coefficients for six drivers of foreign currency...
Persistent link: https://www.econbiz.de/10011015341
Workers' remittances have become a major source of financing for developing countries and are especially important in Latin America and the Caribbean, which is at the top of the ranking of remittance receiving regions in the world. While there has been a recent surge in analytical work on the...
Persistent link: https://www.econbiz.de/10010943505