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Thresholds in the process of international financial integration

Kose, M. Ayhan; Prasad, Eswar S.; Taylor, Ashley D. - 2009

; capital account liberalization ; growth ; threshold conditions ; financial development ; institutions ; macroeconomic policies … for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the … presumed growth benefits of financial integration. Indeed, a new literature proposes that the indirect benefits of financial …

Persistent link: https://www.econbiz.de/10003831857

Global value chains and effective exchange rates at the country-sector level

Patel, Nikhil; Wang, Zhi; Wei, Shang-jin - 2017

The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...

Persistent link: https://www.econbiz.de/10011772161

Diversification of banks' international portfolios : evidence and policy lessons

Buch, Claudia M.; Neugebauer, Katja - 2009

Over the past decades, banks have significantly increased their cross-border asset positions. The ongoing crisis on international financial markets has raised the question whether this increase in cross-border activities has allowed banks to diversify risks and to what extent it has increased...

Persistent link: https://www.econbiz.de/10011387108

The role of monetary policy in Turkey during the global financial crisis

Alp, Harun; Elekdağ, Selim - 2011

simulations indicate that rather than the actual contraction of 4.8 percent, the growth outturn would have been 6.2 percent if the … instead in place, then the counterfactual simulations indicate a growth rate of 8.0 percent in 2009. In other words, the …

Persistent link: https://www.econbiz.de/10009157464

Capitals controls and macroprudential measures : what are they good for?

Forbes, Kristin; Fratzschner, Marcel; Straub, Roland - 2013

Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...

Persistent link: https://www.econbiz.de/10010221772