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Author: Alejandro López Publisher: World Bank Publications ISBN: Category : Languages : en Pages : 40
Book Description
January 1997 The sharp drop in private savings in the 1990s in Colombia can be attributed to a decline in private disposable income and, to a lesser extent, to growth in consumption. The sharp drop in private savings in the 1990s in Colombia can be attributed to a decline in private disposable income and, to a lesser extent, to growth in consumption. The permanent decline in private disposable income in Colombia between 1950 and 1990 is closely linked to tax increases. This trend was accentuated in the early 1990s by a reduction in corporations' gross operating surplus. Contrary to the usual hypothesis, López shows that in the 1990s private consumption had a relatively minor effect on national savings. He highlights two findings: * Private consumption's recent behavior can hardly be called a boom. It declined throughout the second half of the 1980s before finally showing an upturn in 1992 equivalent to 2 percent of gross national product. * Consumption of durable goods after trade reform cannot be blamed for the decline in private savings. In fact, savings began falling in 1988 and, until 1993, trade reform did not cause a stock adjustment of durable goods. This paper - a product of the Macroeconomics and Growth Division, Policy Research Department - is part of a larger effort in the department to assess the determinants of saving.
Author: Alejandro López Publisher: World Bank Publications ISBN: Category : Languages : en Pages : 40
Book Description
January 1997 The sharp drop in private savings in the 1990s in Colombia can be attributed to a decline in private disposable income and, to a lesser extent, to growth in consumption. The sharp drop in private savings in the 1990s in Colombia can be attributed to a decline in private disposable income and, to a lesser extent, to growth in consumption. The permanent decline in private disposable income in Colombia between 1950 and 1990 is closely linked to tax increases. This trend was accentuated in the early 1990s by a reduction in corporations' gross operating surplus. Contrary to the usual hypothesis, López shows that in the 1990s private consumption had a relatively minor effect on national savings. He highlights two findings: * Private consumption's recent behavior can hardly be called a boom. It declined throughout the second half of the 1980s before finally showing an upturn in 1992 equivalent to 2 percent of gross national product. * Consumption of durable goods after trade reform cannot be blamed for the decline in private savings. In fact, savings began falling in 1988 and, until 1993, trade reform did not cause a stock adjustment of durable goods. This paper - a product of the Macroeconomics and Growth Division, Policy Research Department - is part of a larger effort in the department to assess the determinants of saving.
Author: Mr.Alejandro Lopez Mejia Publisher: International Monetary Fund ISBN: 1451858477 Category : Business & Economics Languages : en Pages : 35
Book Description
This paper studies the main determinants of the sharp decline in Colombia’s private saving rate which accompanied the steep deterioration of the country’s external current account deficit in the 1990s. The paper rejects current arguments pointing to a consumption boom and corporate behavior as the main causes of the decline. It concludes that: private consumption, explained mainly by permanent income, has only increased moderately in the 1990s; household behavior—not corporate behavior—determines private saving; and tax increases do not entirely explain the fall of private saving. Thus, reliance on external saving could be reduced by increasing public saving.
Author: International Monetary Fund. Western Hemisphere Dept. Publisher: International Monetary Fund ISBN: 1484302192 Category : Business & Economics Languages : en Pages : 47
Author: John Williamson Publisher: Peterson Institute ISBN: 9780881322316 Category : Business & Economics Languages : en Pages : 204
Book Description
This study examines in detail the experiences of three countries that have in recent years operated exchange rate systems of "crawling bands," similar in spirit to the target zones that the author has recommended in the past. Williamson compares the succcessful experiences of 3 countries that have operated crawling bands with 15 similar countries and concludes that the crawling band exchange-rate policy has been an important element in their success. The study includes a manual for managing crawling bands.
Author: Mr.Francisco Roch Publisher: International Monetary Fund ISBN: 1484315111 Category : Business & Economics Languages : en Pages : 18
Book Description
Colombian house prices have increased significantly between 2005 and 2016. This paper estimates the extent of misalignments in house prices relative to fundamentals and evaluates the overall risk to the economy from the housing sector. The results suggest a moderate house price misalignment relative to fundamentals which is, however, mitigated by housing finance characteristics.
Author: Klaus Schmidt-Hebbel Publisher: World Bank Publications ISBN: 9780821335062 Category : Business & Economics Languages : en Pages : 92
Book Description
IFC Lessons of Experience No. 1F. This report reviews the experience of the International Finance Corporation (IFC) in its role as advisor and investor in privatization transactions during the past decade. In pursuit of its mandate to further economic development by encouraging the growth of productive private enterprise in developing countries, the IFC has naturally and increasingly been involved in supporting this movement. The premise of the report is that privatization will always be partly based on political considerations, including expected redistribution of wealth and the resulting winners and losers. It discusses the IFC's experience from two perspectives: as an advisor involved before the sale, which illustrates how the IFC assists in the trade-off between political and economic goals to conclude a deal; and after privatization, which discusses the resulting economic benefits. The IFC asserts that its role in privatization is defined by the evolving frontiers of political commitment. Within those frontiers, it can help expand privatization possibilities by performing advisory assignments, providing necessary investments, and developing capital market institutions. The IFC demonstrates that privatization strategies can assume many forms with few set prescriptions. Other language editions: English (ISBN 0-8213-3447-6) Stock No. 13447 Russian -out of print-(ISBN 0-8213-3545-6) Stock No. 13545 Spanish -out of print-(ISBN 0-8213-3451-4) Stock No. 13451.
Author: Jeffrey J. Schott Publisher: Peterson Institute ISBN: 9780881323894 Category : Business & Economics Languages : en Pages : 248
Book Description
This volume analyzes the economic effects of a prospective free trade agreement between the United States and Colombia. The study uses the Global Trade Analysis Project (GTAP) model of world trade and economic activity to analyze the expected trade and other economic impacts of the prospective FTA and to examine bilateral trade and investment flows, bilateral trade frictions, and implications of the prospective accords for the bilateral, regional, and global trade relations of the two countries.
Author: Alejandro López
Author: Alejandro López
Author: Mr.Alejandro Lopez Mejia
Author: International Monetary Fund. Western Hemisphere Dept.
Author: John Williamson
Author: Mr.Francisco Roch
Author: Klaus Schmidt-Hebbel
Author: Jeffrey J. Schott
Author: Sergio Clavijo
Author: Alexander J. Yeats
Author: Lance Taylor