This paper studies the effects of global and domestic inflation shocks on core price inflation in 105 countries between 1970 and 2016, by using a heterogeneous panel vector-autoregressive model. The methodology...
The view that policies directed at the real exchange rate can have an important effect on economic growth has been gaining adherents in recent years. Unlike the traditional 'misalignment' view that temporary...
The view that policies directed at the real exchange rate can have an important effect on economic growth has been gaining adherents in recent years. Unlike the traditional "misalignment" view that temporary...
Over the 1990s macroeconomic policies improved in most developing countries, but the growth dividend from this improvement fell short of expectations, and a policy agenda focused on stability turned out...
Recent research suggests that management of the public sector debt can have important effects on a country macroeconomic performance. This Public debt management and macroeconomic stability article provides...
This issue includes the following: globalization, poverty, and inequality since 1980 by David Dollar; data and dogma: the great Indian poverty debate by Angus Deaton and Valerie Kozel; insights on development...
1990年代,大多数发展中国家的宏观经济政策都有所改善,但这种改善所带来的增长效益却没有满足人们的期望,而强调稳定的政策议程最终竟带来了各种金融危机。Montiel和Servén回顾了1990年代宏观经济改革议程的内容和实施情况。他们回顾了发展中国家通过财政、货币和汇率政策取得的进步,以及变化的政策框架在促进稳定和增长中所发挥的有效作用。主要的经验教训是,增长速度减慢和频繁的危机大多是由1990年代改革议程的缺陷造成。这些缺陷主要与以下问题有关,即宏观经济改革议程的深度和广度、它对宏观经济脆弱性的重视、以及宏观经济领域之外的辅助性改革。
Critics of the tight monetary policies pursued by some of the countries hurt by the 1997 Asian financial crisis have questioned the presumption that tight money can help sustain the value of a currency...
Tight money in a post-crisis defense of the exchange rate : what have we learned?, by Peter J. Montiel. Foreign bank entry : experience, implications for developing economies, and agenda for further research...
Consumption booms have been common in both industrial and developing countries, and several explanations have been offered for their occurrence. These include economy wide wealth effects associated with...
This report provides a broad overview of the recent capital inflows to developing countries caused by large amounts of foreign capital arriving in the form of syndicated bank loans directed almost exclusively...
After years of poor economic performance, many Latin American countries undertook ambitious programs of macroeconomic stabilization and structural reform in recent years. This change in policy created...
How important to India's poor is the sectoral composition of economic growth? Martin Ravallion and Gaurav Datt Is debt crisis history? Recent private capital inflows to developing countries. Michael Dooley...
After being excluded from world capital markets during the debt crisis, many developing countries have experienced large capital inflows during the past five years. The challenges that these inflows pose...
After being excluded from world capital markets during the debt crisis, many developing countries have experienced large capital inflows in the past five years. The challenges these inflows pose for domestice...
Capital mobility in developing countries: some measurement issues and empirical estimates. The political economy of growth: a critical survey of the recent literature. A presumptive Pigovian tax: complementing...
A fundamental determinant of the macroeconomic properties of an economy is its degree of financial integration with the outside world. Yet very little is known about this characteristic of many developing...
An economy's financial integration with the outside world (the extent of capital mobility across its borders) is a key determinant of some of its most important macroeconomic properties. Yet little is...
The causes and implications of the developing country debt crisis - as well as its solution - all have an important fiscal dimension. The crisis was triggered by the widespread perception that the public...
Several authors have argued that the appropriate monetary policy variable in Barro-type reduced-form output equations for small open economies is domestic credit. The rationale for this view is that in...