Author: Peter MontielPublisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 69
Book Description
Capital Mobility in Developing Countries
Author: Peter MontielPublisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 69
Book Description
Capital Mobility in Developing Countries
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1451941315
Category : Business & Economics
Languages : en
Pages : 16
Book Description
The degree of capital mobility in developing economies is seldom estimated, even though it is widely recognized to be an important element in determining the effects of stabilization policies. Instead, an economy is assumed to be open or closed mainly on grounds of analytical convenience. This paper develops a simple approach to modelling and measuring the degree of financial openness which is applicable to developing economies. Empirical estimation using data from a large number of developing countries suggests that the effective degree of capital mobility in such economies may be higher than is commonly assumed.
Capital Mobility and Exchange Market Intervention in Developing Countries
Author: Mr.Donald J. MathiesonPublisher: International Monetary Fund
ISBN: 1451855230
Category : Business & Economics
Languages : en
Pages : 46
Book Description
Official controls on interest rates and capital flows rule out the use of traditional interest rate parity conditions to measure changes in the degree of capital mobility confronting developing countries. This paper develops an alternative technique for measuring the cost of undertaking disguised capital flows when such official controls are present. This measure is derived from an intertemporal, optimizing model of an open economy incorporating the influence of the authorities’ foreign exchange market activities. The paper suggests that the real cost of undertaking disguised capital flows declined on average by nearly 70 percent between the early 1970s and the late 1980s.
Capital Mobility in Developing Countries
Author: Peter J. MontielPublisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 72
Book Description
It is rare for developing countries to be strongly integrated with financial markets, but most developing countries must be regarded as financially open, according to new estimates.
Savings-investment Correlations and Capital Mobility in Developing Countries
Author: Nlandu MamingiPublisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 34
Book Description
Social Mobility in Developing Countries
Author: Vegard IversenPublisher: Oxford University Press
ISBN: 0192650734
Category : Business & Economics
Languages : en
Pages : 506
Book Description
Social mobility is the hope of economic development and the mantra of a good society. There are disagreements about what constitutes social mobility, but there is broad agreement that people should have roughly equal chances of success regardless of their economic status at birth. Concerns about rising inequality have engendered a renewed interest in social mobility—especially in the developing world. However, efforts to construct the databases and meet the standards required for conventional analyses of social mobility are at a preliminary stage and need to be complemented by innovative, conceptual, and methodological advances. If forms of mobility have slowed in the West, then we might be entering an age of rigid stratification with defined boundaries between the always-haves and the never-haves-which does not augur well for social stability. Social mobility research is ongoing, with substantive findings in different disciplines—typically with researchers in isolation from each other. A key contribution of this book is the pulling together of the emerging streams of knowledge. Generating policy-relevant knowledge is a principal concern. Three basic questions frame the study of diverse aspects of social mobility in the book. How to assess the extent of social mobility in a given development context when the datasets by conventional measurement techniques are unavailable? How to identify drivers and inhibitors of social mobility in particular developing country contexts? How to acquire the knowledge required to design interventions to raise social mobility, either by increasing upward mobility or by lowering downward mobility?
Capital Mobility in Developing Countries
Author: Nadeem Ul HaqueDo Capital Flows Reflect Economic Fundamentals in Developing Countries?
Author: Mr.Atish R. GhoshPublisher: International Monetary Fund
ISBN: 1451978820
Category : Business & Economics
Languages : en
Pages : 46
Book Description
This paper proposes a methodology for testing whether capital flows to developing countries are determined by economic fundamentals or by purely speculative forces. We use the intertemporal optimizing approach to current account determination as our benchmark for judging the behavior of capital flows. According to this approach, capital flows should act as a buffer to smooth consumption in the face of temporary shocks to national cash flow, defined as output less investment less government expenditures. The results are encouraging. For a large sample of developing countries, economic fundamentals are indeed found to be the most important determinant of capital flows.
Capital Mobility and Exchange Market Intervention in Developing Countries
Author: Michael P. DooleyPublisher:
ISBN:
Category :
Languages : en
Pages : 62
Book Description
This paper develops a new technique for measuring changes in the degree of capital mobility confronting a developing country that has restrictions on capital flows and official ceilings on domestic interest rates. Because such official controls rule out the use of traditional interest rate parity conditions to measure changes in the degree of capital mobility, the analysis first examines an intertemporal model of an open economy. This model describes the linkages between the cost of undertaking disguised capital flows, the current account, capital controls, domestic and external financial market conditions, and the authorities' foreign exchange market interventions. The model suggests a means of measuring changes in the cost of undertaking disguised capital flows, based on the past history of differentials between external interest rates (adjusted for exchange rate changes) and domestic ceiling interest rates, provided that the authorities' foreign exchange market activities are incorporated into the analysis. Parameter estimates for Korea, Mexico, and the Philippines indicate that the real cost of undertaking disguised capital flows declined on average by nearly 70 percent between the early 1970s and the late 1980s.
Capital Mobility in Asia
Author: Juthathip JongwanichPublisher: Flipside Digital Content Company Inc.
ISBN: 981478608X
Category : Business & Economics
Languages : en
Pages : 180
Book Description
Ever since the East Asian financial crisis it has been recognized that emerging market economies are vulnerable to both excessive inflows of capital and sudden outflows. This book presents new research on the determinants and effects of capital flows as well as the effectiveness of capital control policies in dealing with volatile capital flows in emerging Asian countries. It examine three issues related to capital movements in Asia: (1) the key factors determining such mobility; (2) the impact of capital movements in a home country, especially on real exchange rates; and (3) the effectiveness of capital account policies.