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Author: Ralf J. Leiteritz Publisher: VS Verlag für Sozialwissenschaften ISBN: 9783531190945 Category : Social Science Languages : en Pages : 0
Book Description
Why has capital account liberalization been a durable policy in some countries, but not in others? The book uses the contrast between the path pursued by Peru and Colombia regarding capital account policy during the last twenty years in order to identify two critical factors to account for this puzzle. First, changes in domestic informal institutions are a necessary element of sustainable capital account policy choices. Second, sustainable capital account liberalization presupposes that business-government relations privilege the interests of economic sectors that depend on the unfettered flow of international capital and are largely unaffected by exchange-rate volatility over the interests of exporters of non-traditional goods worried about exchange-rate appreciation in the context of capital account openness.
Author: Ralf J. Leiteritz Publisher: VS Verlag für Sozialwissenschaften ISBN: 9783531190945 Category : Social Science Languages : en Pages : 0
Book Description
Why has capital account liberalization been a durable policy in some countries, but not in others? The book uses the contrast between the path pursued by Peru and Colombia regarding capital account policy during the last twenty years in order to identify two critical factors to account for this puzzle. First, changes in domestic informal institutions are a necessary element of sustainable capital account policy choices. Second, sustainable capital account liberalization presupposes that business-government relations privilege the interests of economic sectors that depend on the unfettered flow of international capital and are largely unaffected by exchange-rate volatility over the interests of exporters of non-traditional goods worried about exchange-rate appreciation in the context of capital account openness.
Author: Ralf J. Leiteritz Publisher: VS Verlag für Sozialwissenschaften ISBN: 9783531185286 Category : Social Science Languages : en Pages : 0
Book Description
Why has capital account liberalization been a durable policy in some countries, but not in others? The book uses the contrast between the path pursued by Peru and Colombia regarding capital account policy during the last twenty years in order to identify two critical factors to account for this puzzle. First, changes in domestic informal institutions are a necessary element of sustainable capital account policy choices. Second, sustainable capital account liberalization presupposes that business-government relations privilege the interests of economic sectors that depend on the unfettered flow of international capital and are largely unaffected by exchange-rate volatility over the interests of exporters of non-traditional goods worried about exchange-rate appreciation in the context of capital account openness.
Author: Martin Feldstein Publisher: University of Chicago Press ISBN: 0226241807 Category : Business & Economics Languages : en Pages : 500
Book Description
Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Author: Ben Ross Schneider Publisher: Oxford University Press ISBN: 0190462884 Category : Business & Economics Languages : en Pages : 329
Book Description
Ben Ross Schneider's volume, New Order and Progress takes a thorough look at the political economy of Brazil. The distinctive perspective of the 11 chapters is historical, comparative, and theoretical. Collectively, the chapters offer sobering insight into why Brazil has not been the rising economic star of the BRIC that many predicted it would be, but also documents the gains that Brazil has made toward greater equality and stability. The book is grouped into four parts covering Brazil's development strategy, governance, social change, and political representation. The authors -18 leading experts from Brazil and the United States - analyze core issues in Brazil's evolving political economy, including falling inequality, the new middle class, equalizing federalism, the politicization of the federal bureaucracy, resurgent state capitalism, labor market discrimination, survival of political dynasties, the expansion of suffrage, oil and the resource curse, exchange rates and capital controls, protest movements, and the frayed social contract.
Author: Kevin P. Gallagher Publisher: Cornell University Press ISBN: 0801454611 Category : Business & Economics Languages : en Pages : 248
Book Description
In Ruling Capital, Kevin P. Gallagher demonstrates how several emerging market and developing countries (EMDs) managed to reregulate cross-border financial flows in the wake of the global financial crisis, despite the political and economic difficulty of doing so at the national level. Gallagher also shows that some EMDs, particularly the BRICS coalition, were able to maintain or expand their sovereignty to regulate cross-border finance under global economic governance institutions. Gallagher combines econometric analysis with in-depth interviews with officials and interest groups in select emerging markets and policymakers at the International Monetary Fund, the World Trade Organization, and the G-20 to explain key characteristics of the global economy. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can counter domestic and international opposition to the regulation of cross-border finance. Although many countries were able to exert countervailing monetary power in the wake of the crisis, such power was not sufficient to stem the magnitude of unstable financial flows that continue to plague the world economy. Drawing on this theory, Gallagher outlines the significant opportunities and obstacles to regulating cross-border finance in the twenty-first century.
Author: Benjamin J. Cohen Publisher: University of Chicago Press ISBN: 022658786X Category : Business & Economics Languages : en Pages : 208
Book Description
At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play. In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.
Author: National Academies of Sciences, Engineering, and Medicine Publisher: National Academies Press ISBN: 0309680816 Category : Social Science Languages : en Pages : 437
Book Description
The increase in prevalence and visibility of sexually gender diverse (SGD) populations illuminates the need for greater understanding of the ways in which current laws, systems, and programs affect their well-being. Individuals who identify as lesbian, gay, bisexual, asexual, transgender, non-binary, queer, or intersex, as well as those who express same-sex or -gender attractions or behaviors, will have experiences across their life course that differ from those of cisgender and heterosexual individuals. Characteristics such as age, race and ethnicity, and geographic location intersect to play a distinct role in the challenges and opportunities SGD people face. Understanding the Well-Being of LGBTQI+ Populations reviews the available evidence and identifies future research needs related to the well-being of SDG populations across the life course. This report focuses on eight domains of well-being; the effects of various laws and the legal system on SGD populations; the effects of various public policies and structural stigma; community and civic engagement; families and social relationships; education, including school climate and level of attainment; economic experiences (e.g., employment, compensation, and housing); physical and mental health; and health care access and gender-affirming interventions. The recommendations of Understanding the Well-Being of LGBTQI+ Populations aim to identify opportunities to advance understanding of how individuals experience sexuality and gender and how sexual orientation, gender identity, and intersex status affect SGD people over the life course.
Author: Ralf J. Leiteritz
Author: Ralf J. Leiteritz
Author: Ralf J. Leiteritz
Author: Martin Feldstein
Author: Allan H. Young
Author: Maurice Obstfeld
Author: Ben Ross Schneider
Author: 
Author: Kevin P. Gallagher
Author: Benjamin J. Cohen
Author: National Academies of Sciences, Engineering, and Medicine