Introduction: macroeconomic implications of capital flows in a global economy
نویسندگان
چکیده
The papers in this volume address issues raised by the wave of financial crises that hit emerging markets since the mid 1990s. Several of the papers examine the role that different credit market frictions may have played in triggering the crises, or in determining the effects of policies aimed at containing them. Other papers ask more general questions about the implications of international financial integration for business cycles, risk sharing, and sovereign lending. © 2004 Elsevier Inc. All rights reserved. JEL classification: E1; E5; F3; F4
منابع مشابه
Macroeconomic Effects of International Capital Flows: Lessons from Japan’s Foreign Reserve Investment
The large increases in foreign capital flows into the U.S. caused by foreign central banks or oil-exporting countries have stimulated research as to their effect on U.S. interest rates. My thesis seeks to shed light on this topic by examining the relationship between Japan’s foreign reserve investment, which was propelled by its world record intervention, and U.S. interest rates. Additionally, ...
متن کاملOil Shocks and Macroeconomic Adjustment: a DSGE modeling approach for the Case of Libya, 1970â2007
Libya experienced a substantial increase in oil revenue as a result of increased oil prices during the period of the late 1970s and early 1980s, and again after 2000. Recent increases in oil production and the price of oil, and their positive and negative macroeconomic impacts upon key macroeconomic variables, are of considerable contemporary importance to an oil dependent economy such as that...
متن کامل(Measuring System Entropy Generation in a Complex Economic Network (The Case of Iran
An economic system is comprised of different primary flows that can be captured in macroeconomic models with complex network relations. Theoretically and empirically in this system, weak substitution or complementarity of environmental materials, like energy and other production factors such as capital, is undeniable. This is an effective critique on neoclassical economics. In this paper, we vi...
متن کاملOxford OX 1 3 LA Working Paper Number 8 Short - Term Capital Flows , The Real Economy And Income Distribution In Developing Countries
The volatility of short-term capital flows (or ‘capital surges’) is now recognized as a major problem for macroeconomic management in developing countries; but the consequences for the ‘real’ economy that is, the behaviour of government, firms and households which subsequently translates into investment, growth, employment and welfare is less well understood. Short-term capital flow instability...
متن کاملOutput Loss from Sudden Stop of FDI and the Role of Macroeconomic Policies
Generally, international flows of capital and foreign direct investment attraction are challengeable issues in the literature of economic growth and development in emerging market countries. However, the fluctuations in foreign direct investment, including sudden flood and stop, will affect emerging markets' output and macroeconomic variables. Using an econometric model with unbalanced panel da...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید
ثبت ناماگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید
ورودعنوان ژورنال:
- J. Economic Theory
دوره 119 شماره
صفحات -
تاریخ انتشار 2004