International Financial Adjustment

" Globalisation , Adjustment and the Structural Transformation of African Economies ? : The Role of International Financial Institutions " Howard

Under the auspices of the World Bank and IMF, for almost two decades, sub-Saharan African countries have implemented structural adjustment, an orthodox package of economic reform measures. During this period there has been an unprecedented proliferation of technology investment and trade in the world economy. However sub-Saharan Africa has performed poorly under adjustment and has been largely ...

International Financial Markets

This dissertation consists of two essays: one looks at the cross-country variations in volume-price variability relationship and cultural and other country factors, and the other looks at cause and effects of large one-day price changes in commodity futures. The first essay presented in Chapter 1 investigates the effect of cultural and other country factors on the dynamic relation between marke...

Exchange Rate Adjustment in Financial Crises∗

In the 1990’s many economists criticized emerging market countries for their unwillingness to allow exchange rates to adjust. The ‘fear of floating’ was seen as severe distortion in the international monetary system, and a hindrance to good macroeconomic policy for these countries. In the worst case, a persistent defence of an exchange rate peg could lead to over -borrowing and precipitate curr...

Chapter 1 INTERNATIONAL FINANCIAL CONTAGION :

“Contagion: 1. a. Disease transmission by direct or indirect contact. b. A disease that is or may be transmitted by direct or indirect contact; a contagious disease. c. The direct cause, such as a bacterium or virus, of a communicable disease. 2. Psychology: The spread of a behavior pattern, attitude, or emotion from person to person or group to group through suggestion, propaganda, rumor, or i...

Reforming the international financial system