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Author: Mr.Serhan Cevik Publisher: International Monetary Fund ISBN: 1475546645 Category : Business & Economics Languages : en Pages : 35
Book Description
Standard models—based exclusively on macro-financial variables—have made little progress in explaining the behavior of exchange rates. In this paper, we introduce a neglected set of “soft power” factors capturing a country’s demographic, institutional, political and social underpinnings to uncover the “missing” determinants of exchange rate volatility over time and across countries. Based on a balanced panel dataset comprising 115 countries during the period 1996–2011, the empirical results are generally robust across different estimation methodologies and show a high degree of persistence in exchange rate volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the “soft power” variables—such as an index of voice and accountability, life expectancy, educational attainment, the z-score of banks, and the share of agriculture relative to services—have a statistically significant influence on the level of exchange rate volatility across countries.
Author: Mr.Serhan Cevik Publisher: International Monetary Fund ISBN: 1475546645 Category : Business & Economics Languages : en Pages : 35
Book Description
Standard models—based exclusively on macro-financial variables—have made little progress in explaining the behavior of exchange rates. In this paper, we introduce a neglected set of “soft power” factors capturing a country’s demographic, institutional, political and social underpinnings to uncover the “missing” determinants of exchange rate volatility over time and across countries. Based on a balanced panel dataset comprising 115 countries during the period 1996–2011, the empirical results are generally robust across different estimation methodologies and show a high degree of persistence in exchange rate volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the “soft power” variables—such as an index of voice and accountability, life expectancy, educational attainment, the z-score of banks, and the share of agriculture relative to services—have a statistically significant influence on the level of exchange rate volatility across countries.
Author: Mr. Serhan Cevik Publisher: International Monetary Fund ISBN: Category : Languages : en Pages : 24
Book Description
Soft power is difficult to measure directly, and existing indicators—mostly subjective and not always transparent—fail to take into account the multidimensional nature of soft power. In this paper, we introduce a new comprehensive Global Soft Power Index (GSPI) composed of six dimensions for a broad sample of countries over a long span of time. The proposed framework allows for comparisons not only at the “headline” level of the GSPI, but also at the level of the sub-indices, which in turn helps identify and study how countries differ at a granular level of soft power. In a final step of the analysis, we present a possible macro-financial application to investigate the relationship between soft power and exchange rates. The results indicate that some dimensions of the GSPI play an important role in explaining exchange rate volatility. Overall, the composite GSPI presented in this paper provides a systematic approach to measure soft power along its multiple dimensions. By capturing the matrix of soft power characteristics, the GSPI offers significant advantages in comparative analysis of soft power across countries and over time.
Author: Mr.Serhan Cevik Publisher: International Monetary Fund ISBN: 1475530528 Category : Business & Economics Languages : en Pages : 35
Book Description
Standard models—based exclusively on macro-financial variables—have made little progress in explaining the behavior of exchange rates. In this paper, we introduce a neglected set of “soft power” factors capturing a country’s demographic, institutional, political and social underpinnings to uncover the “missing” determinants of exchange rate volatility over time and across countries. Based on a balanced panel dataset comprising 115 countries during the period 1996–2011, the empirical results are generally robust across different estimation methodologies and show a high degree of persistence in exchange rate volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the “soft power” variables—such as an index of voice and accountability, life expectancy, educational attainment, the z-score of banks, and the share of agriculture relative to services—have a statistically significant influence on the level of exchange rate volatility across countries.
Author: Kankaew, Kannapat Publisher: IGI Global ISBN: Category : Business & Economics Languages : en Pages : 559
Book Description
Global Perspectives on Soft Power Management in Business provides a comprehensive exploration of the impactful role of soft power in influencing socio-economic dynamics. In today's interconnected world, soft power drives economic growth through the dissemination of beliefs, cultures, shared norms, and popular trends, creating a country's brand image. This edited volume brings together scholars from diverse academic backgrounds to objectively discuss and analyze the sustainable management, design thinking, and integration of soft power. The book delves into the pros and cons of soft power impact, explores soft power knowledge management in different industries, examines soft power marketing and presentation strategies, and investigates the relationship between technology and soft power. Moreover, it emphasizes that success in the global marketplace is not solely reliant on technological advancements, but also on the added value of products through sophisticated services—a concept encompassed by soft power. This book proves invaluable to undergraduate and graduate students studying business, cultural, and hospitality management, as well as professionals in public and private organizations, universities, professors and lecturers, policy makers, and those in the film and music industry.
Author: Naren Chitty Publisher: Taylor & Francis ISBN: 1000904105 Category : Political Science Languages : en Pages : 520
Book Description
The Routledge Handbook of Soft Power (2nd Edition) offers a comprehensive, detailed, and ground-breaking examination of soft power – a key factor in cultural diplomacy, cultural relations, and public diplomacy. Interrogating soft power as influence, the handbook examines manifestations in media, public mind, policy, and theory – in a fraught geopolitical climate, one demanding reconceptualization of soft power’s role in state and civic society behaviour. Part I provides important new conceptualization and critical analysis of soft power from international relations, philosophical, and other social theoretical perspectives; analyses multiple methods of soft power measurement and makes proposals; and connects soft power innovatively with other concepts Part II addresses soft power and contemporary issues by examining new technology and soft power intentions, soft power and states’ performance during the global pandemic, and soft power and values Part III investigates cases from China, France, Greece, Israel, Japan, Kazhakstan, Poland, Russia, South Korea, Spain, Türkiye, and the United States – some in combination. This innovative handbook is a definitive resource for inquirers into soft power desiring to familiarize themselves with cutting-edge debates and research. It will be of interest and value to students, researchers, and policy makers working in cultural relations, international communication, international relations, public diplomacy, and contiguous fields.
Author: International Monetary Fund. Research Dept. Publisher: International Monetary Fund ISBN: 1513503979 Category : Business & Economics Languages : en Pages : 15
Book Description
In the June 2015 issue, the Research Summaries review "Migration: An Attractive Insurance Option in African Countries" (Ahmat Jidoud) and "Investment in Emerging Markets" (Nicolas E. Magud and Sebastian Sosa). The Q&A looks at "Seven Questions on Islamic Finance” (Inutu Lukonga). The Bulletin also includes its regular listings of recent IMF Working Papers and Staff Discussion Notes, as well as information on the "IMF Economic Review." A new IMF eLibrary discussion site on energy and climate change is highlighted, along with new recommendations from IMF Publications.
Author: Mr.Sonali Das Publisher: International Monetary Fund ISBN: 1498302025 Category : Business & Economics Languages : en Pages : 31
Book Description
China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Author: Joseph E. Gagnon Publisher: Peterson Institute ISBN: 0881326356 Category : Business & Economics Languages : en Pages : 301
Book Description
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Author: Jeffry A. Frieden Publisher: Princeton University Press ISBN: 1400865344 Category : Business & Economics Languages : en Pages : 318
Book Description
The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
Author: Mr.Serhan Cevik
Author: Mr.Serhan Cevik
Author: Mr. Serhan Cevik
Author: Mr.Serhan Cevik
Author: Kankaew, Kannapat
Author: Naren Chitty
Author: International Monetary Fund. Research Dept.
Author: 
Author: Mr.Sonali Das
Author: Joseph E. Gagnon
Author: Jeffry A. Frieden