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International Financial Integration and Economic Growth
Edison, Hali J.; Levine, Ross; Ricci, Luca A.; Sløk, … - 2005
integration on economic growth and also to assess whether this relationship depends on the level of economic development … to reject the null hypothesis that international financial integration does not accelerate economic growth even when …
Persistent link: https://www.econbiz.de/10014115117
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International Financial Integration and Economic Growth
Edison, Hali J.; Levine, Ross; Ricci, Luca A.; Sløk, … - 2021
integration on economic growth and also to assess whether this relationship depends on the level of economic development … to reject the null hypothesis that international financial integration does not accelerate economic growth even when …
Persistent link: https://www.econbiz.de/10013317840
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Chapter 65. Financial Globalization and Economic Policies
Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - In: Handbook of development economics : volume 5, (pp. 4283-4359). 2010
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality, and trade openness appear to help...
Persistent link: https://www.econbiz.de/10014025737
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Foreign Capital and Economic Growth
Prasad, Eswar S.; Rajan, Raghuram G.; Subramanian, Arvind - 2021
whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find … that there is a positive correlation between current account balances and growth among nonindustrial countries, implying … that a reduced reliance on foreign capital is associated with higher growth. This result is weaker when we use panel data …
Persistent link: https://www.econbiz.de/10013316680
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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
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Globalization and Monetary Policy : An Introduction
Martínez-García, Enrique - 2009
Greater openness has become an almost universal feature of modern, developed economies. This paper develops a workhorse international model, and explores the role of standard monetary policy rules applied to an open economy. For this purpose, I build a two-country DSGE model with monopolistic...
Persistent link: https://www.econbiz.de/10012720386
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Global Value Chains and Effective Exchange Rates at the Country-Sector Level
Patel, Nikhil - 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/10012956518
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Trade and Capital Flows : A Financial Frictions Perspective
Antras, Pol; Caballero, Ricardo J. - 2008
The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this paper we show that in a world with heterogeneous financial development, the...
Persistent link: https://www.econbiz.de/10014219454
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Trade and Income Convergence : Sorting Out the Causality
Liu, Xuepeng - 2009
This paper studies the linkage between international trade and income convergence across countries. Different theories offer conflicting predictions regarding how they might affect each other. In the existing empirical literature estimating the trade impact on income convergence, a long-lasting...
Persistent link: https://www.econbiz.de/10012765297
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Factor Mobility and Income Growth : Two Convergence Hypotheses
Yuen, Chi-Wa; Razin, Assaf - 2001
While technologies and policy fundamentals are presumably different internationally, inducing differences in growth … rates, capital mobility can be a powerful force in equalizing output growth rates across countries. We provide some indirect … evidence in support of this effect. In the context of regional growth, however, labor mobility can equalize income levels …
Persistent link: https://www.econbiz.de/10014088839