Book Description
This collection explores how financial factors have become of key importance for stabilization and growth in developing and transforming economies.
Author : Mario I. Blejer
Publisher : Cambridge University Press
Page : 290 pages
File Size : 15,5 MB
Release : 1996-06-13
Category : Business & Economics
ISBN : 9780521480505
This collection explores how financial factors have become of key importance for stabilization and growth in developing and transforming economies.
Author : Guillermo E. Perry
Publisher : World Bank Publications
Page : 354 pages
File Size : 32,1 MB
Release : 2007-10-19
Category : Business & Economics
ISBN : 0821370855
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
Author : A. K. Cairncross
Publisher : Routledge
Page : 349 pages
File Size : 13,9 MB
Release : 2013-12-13
Category : Business & Economics
ISBN : 1136878378
First published in 1961, this work is a compendium of essays written by esteemed economist Sir Alexander Cairncross, pertaining to the theme of economic development. A wide cross-section of factors are taken into account in this extensive collection of articles, amongst which are the importance of investment and technical progress; trade; administration and planning; and the role of education.
Author : Rudiger Dornbusch
Publisher :
Page : 56 pages
File Size : 38,41 MB
Release : 1989
Category : Capital movements
ISBN :
Financial factors have been assigned strategic importance in economic development. But very different factors have been isolated in the respective experiences: in Asia unrepressed financial markets in mobilizing saving and allocating investment have been given prominence. In Latin America the central question is the role of inflationary finance, the scope for deficits to enhance growth and, increasingly, the feedback from high and unstable inflation to poor economic performance. This paper reviews and contrasts the two approaches and concludes that the strong claims for the benefits of financial liberalization are not supported by evidence. Financial factors are important, but probably only when financial instability becomes a dominant force. The scope for inflationary finance is small and the risks are larger than commonly accepted. When hyperinflation takes over and foreign exchange crises disrupt the price system, and shorten the economic horizon to a week or a month, normal economic development is suspended. Moreover, difficult to reverse capital flight puts savings outside the home economy. Attention should focus on these extreme cases and explore deeper the thresholds at which financial factors become dominant and the channels through which this occurs. Superior growth performance, in this perspective, may be more a reflection of adaptability than financial deepening.
Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization
Publisher :
Page : 120 pages
File Size : 48,2 MB
Release : 1983
Category : Economic stabilization
ISBN :
Author :
Publisher :
Page : pages
File Size : 27,73 MB
Release : 1989
Category :
ISBN :
Author : James Laurenceson
Publisher : Edward Elgar Publishing
Page : 188 pages
File Size : 44,14 MB
Release : 2003-01-01
Category : Business & Economics
ISBN : 9781843767190
China's prospects of successfully completing the transition to a market economy and becoming the world's largest economy during the 21st Century depend on the future sustainability of high rates of economic growth. This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact of financial reform on economic development in China during the reform period. This volume will facilitate a more accurate assessment of the Chinese approach to financial reform, and will therefore allow more informed future policy choices for both China and other developing and transitional countries.
Author : Ross Levine
Publisher : World Bank Publications
Page : 84 pages
File Size : 17,3 MB
Release :
Category :
ISBN :
The International Monetary Fund (IMF) presents the full text of the December 2000 paper entitled "Financial Development and Economic Growth: An Overview," prepared by Mohsin S. Khan and Abdelhak S. Senhadji. The text is available in PDF format and the paper is part of the IMF's Working Paper series. This paper provides a review of literature on financial markets and discusses the relationship between financial development and economic growth.
Author : Muhammad Shahbaz
Publisher : Springer Nature
Page : 245 pages
File Size : 37,36 MB
Release : 2021-09-21
Category : Business & Economics
ISBN : 3030790037
This book looks into the relationship between financial development, economic growth, and the possibility of a potential capital flight in the transmission process. It also examines the important role that financial institutions, financial markets, and country-level institutional factors play in economic growth and their impact on capital flight in emerging economies. By presenting new theoretical insights and empirical country studies as well as econometric approaches, the authors focus on the relationship between financial development and economic growth with capital flight in the era of financial crisis. Therefore, this book is a must-read for researchers, scholars, and policy-makers, interested in a better understanding of economic growth and financial development of emerging economies alike.
Author : Juan Fernández de Guevara Radoselovics
Publisher : Springer
Page : 249 pages
File Size : 48,81 MB
Release : 2012-11-29
Category : Business & Economics
ISBN : 1137001836
This book presents an in-depth appreciation of key topics related to the behaviour of financial institutions in the crisis and stresses areas of major research interest. It covers a selection of papers specialising ranging from the analysis of bank and stock market performance in the crisis, to other areas such as microinsurance and social lending.