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In recent years, many developing countries have intervened in foreign exchange markets to offset to some extent the effect on their economies of large capital flows. Often, changes in reserve requirements were used to mitigate the impact of that intervention on domestic money supplies. Because...
Persistent link: https://www.econbiz.de/10005623257
It is widely known that Muslim society inherited an interest based financial intermediation system from others instead of developing their own banking system. However, Muslim Economists and scholars around the world made efforts to have and develop their own financial intermediation since there...
Persistent link: https://www.econbiz.de/10005623332
After a decade of high growth, the Russian econoomy is experiencing a slowdown in the wake of the global financial crisis. While Russia's strong short-term macroeconomic fundamentals make it better than many emerging economies to deal with the crisis, its underlying structural weaknesses and...
Persistent link: https://www.econbiz.de/10005789739
Since 1990 capital has flowed from industrial countries to developing regions like Latin America, and parts of Asia. Reentry into international capital markets is a welcome turn of events for most countries. However, capital inflows are often associated with inflationary pressures, a real...
Persistent link: https://www.econbiz.de/10005789868
Given all the ambiguities about the outcomes of the financial liberalization process, it is relevant to ask what the systematic, cross-country evidence reveals on several questions, including: What happens to key macroeconomic and variables following domestic and external financial...
Persistent link: https://www.econbiz.de/10005616649
This paper discusses that a lot of the debate on selecting an exchange rate regime misses the time. It begins explaining the standard theory of choice between exchange rate regimes, and then explores the fragilities in this theory, specifically when this is applied to emerging economies. Next...
Persistent link: https://www.econbiz.de/10005619696
Globalization and strengthening of integration processes have, among other things, also influenced some solutions relating to monetary sovereignty of particular countries. A great number of transition countries as well as some other underdeveloped countries are facing both inefficiency in their...
Persistent link: https://www.econbiz.de/10005620044
This paper provides a cross country analysis of surges on capital inflows. Specifically, we examine the broad range of policies that countries have adopted to cope the challenges posed by large and volatile capital flows. We take stock of developments of exchange rate and monetary policy,...
Persistent link: https://www.econbiz.de/10005621836
This is the 2007 Edition of the only book in print in the world about the Single Global Currency, and is the only book in the world priced in 143 currencies (down from 147 in the 2006 edition.).This number is significant, as it's the number of currencies required among the 192 U.N. members to...
Persistent link: https://www.econbiz.de/10005621973
Using annual data for Colombia over the last thirty years and a new battery of econometric techniques, we test opposing theories that explain macroeconomic fluctuations: The neoclassical synthesis, which posits that, in the presence of temporary price rigidity, an unanticipated monetary...
Persistent link: https://www.econbiz.de/10005836168