Author: Paul D. McNelis
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 62

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Author: Michael Parkin
Publisher: Manchester University Press
ISBN: 9780719007125
Category : Business & Economics
Languages : en
Pages : 316

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Author: Paul D. McNelis
Publisher: World Bank Publications
ISBN:
Category : Apertura economica - Chile
Languages : en
Pages : 47

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Book Description
Data for Chile (1975-82) indicate that liberalizing the capital accounts does not eliminate variations in the domestic interest rate but shifts them to the real exchange rate.

Author: Sebastian Edwards
Publisher: University of Chicago Press
ISBN: 9780226184890
Category : Business & Economics
Languages : en
Pages : 274

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Book Description
The successes and failures of free market policy in Chile, implemented in 1973 under the guidance of economists trained at the University of Chicago, are clearly explained in this well-written study. The authors argue that it was a combination of misjudgments, including important policy errors, that led to the collapse of the Chilean economy. "The Edwards's book is an indispensable guide to the policy reforms and mistakes that have taken the [Chilean] economy to its present state."—Philip L. Brock, Money, Credit, and Banking "This book is a 'must' for anybody interested in development economies and the problems of liberalization."—Hansjorg Blochliger, Journal of International Economics

Author: Felipe Morandé
Publisher:
ISBN:
Category : Chile
Languages : en
Pages : 82

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Author: Jorge Quiroz
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 68

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Author: Rebecca Driver
Publisher: Routledge
ISBN: 1134261985
Category : Business & Economics
Languages : en
Pages : 436

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Book Description
Combining thorough scholarship with illuminating real-world examples, this edited collection provides insights on the causes and consequences of movements in both exchange rates and external assets and has a strong focus on the policy implications of operating in an open economy, particularly the choice of exchange rate and monetary policy, exchange rate intervention and policies on capital mobility.

Author: Mr.Nicolas E. Magud
Publisher: International Monetary Fund
ISBN: 1484353463
Category : Business & Economics
Languages : en
Pages : 30

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Book Description
We document the behavior of macro and credit variables during episodes of capital inflows reversals in economies with different degrees of exchange rate flexibility. We find that exchange rate flexibility is associated with milder credit growth during the boom but, even though smaller than in more rigid regimes, it cannot shield the economy from a credit reversal. Furthermore, we observe what we dub as a recovery puzzle: credit growth in economies with more flexible exchange rate regimes remains tepid well after the capital flow reversal takes place. This results stress the complementarity of macro-prudential policies with the exchange rate regime. More flexible regimes could help smoothing the credit cycle through capital surchages and dynamic provisioning that build buffers to counteract the credit recovery puzzle. In contrast, more rigid exchange rate regimes would benefit the most from measures to contain excessive credit growth during booms, such as reserve requirements, loan-to-income ratios, and debt-to-income and debt-service-to-income limits.

Author: Stephany Griffith-Jones
Publisher: OUP Oxford
ISBN: 0191589144
Category : Business & Economics
Languages : en
Pages : 325

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Book Description
The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994 - and their high development costs - raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term international capital. Written by senior policy-makers and academics, the contributions to this volume examine in depth the macroeconomic and other policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital movements, especially in the period before the outbreak of these crises. The studies are based on comparative case studies of key emerging economies. Valuable insights are also derived from contrasts between the East Asian, Latin American, African, and European experiences, between the financial and real effects of financial flows, and between private and public responsibilities in managing financial markets. The great value of the chapters in this volume is that they analytically identify the weaknesses in both domestic and international capital market regimes. The recommendations derived from this analysis apply to the development of financial markets in developing countries, the monitoring and regulation of mutual funds in source countries, and the future development of international capital markets. They will make an important contribution both to the discussion of national policies and of a new international financial architechture.

Author: Felipe Morandé
Publisher:
ISBN:
Category : Debt equity conversion
Languages : en
Pages : 78

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