capital account liberalization and the imf

... to the Regulatory Regime in the Aftermath of the Liberalization of the Financial System and the Capital Account Financial sector liberalization and the opening of the capital account changed the business ... financial fragility, and a crisis. Examples of this are the U.S. in the mid-1980s, Sweden, Finland and Norway in the late 1980s and early 1990s, and Mexico in 1994–95. Nevertheless, Thailand’s crisis ... commercial banks and finance companies prior to financial sector liberalization and the opening of the capital account. As the table shows, the financial sector was still recovering from the 1983–87 crisis...

Ngày tải lên: 27/01/2014, 11:20

... enhance the stability of the financial system and thereby increase the efficiency of the economy. Although there may be a trade off between short-run efficiency and this stability, the costs ... the late 1980s/early 1990s; the US saving and loan debacle, 1984-91; and the recent Japanese bad loan problem 4 ), the frequency and scale of crises have, on the whole, been lower than in the ... and demand as in the neoclassical tradition. This is a `demand-determined' price sector. The other sector, which is dominant, is the `cost-determined' price sector, manufacturing and...

Ngày tải lên: 24/10/2012, 08:50

... of the BSP and given it the primary mandate of maintaining price stability. The law also provided for the BSP’s fiscal and administrative autonomy and, perhaps most importantly, limited the ... offset the strong upward pressure on the Nuevo Sol in the second half of 2004 and the first half of 2005, there is no evidence that the primacy of the inflation target was ever compromised. They ... Laxton and Pesenti (2003) use the same form of rule, but they fix the horizon of the inflation forecast to be one year ahead. INTERNATIONAL MONETARY FUND Inflation Targeting and the IMF ...

Ngày tải lên: 24/10/2012, 09:27

... at the conference and the World Bank and the IMF were created along U.S. lines. Unlike the U.N. also founded at the time, the World Bank and the IMF were controlled by one- dollar one-vote rather ... Hayter and Catherine Watson, Aid: Rhetoric and Reality, London, Pluto Press, 1985, p. 66; Hali- fax Initiative, The World Bank and the IMF: Walk- ing the Talk of the G7,” p. 3; Bernard Sanders, The International ... Sikazwe, director of the Zambian anti-poverty group “Women for Change,” asked: “What would they [the World Bank and the IMF] say if we took them to the World Court in The Hague and accused them of genocide?” 43 HIPC In...

Ngày tải lên: 16/02/2014, 11:20

... autocorrelation up to the xth lag. The first column for each market represents the pre -liberalization and the second the post -liberalization period. Malaysia Malaysia Thailand Thailand Pakistan Pakistan ... that following liberalization of the capital markets of the Latin American countries analyzed, the systematic component of deviations from UIRP increased. On the other hand, for the Asian countries ... and for the others the absolute magnitude of the negative values have declined. This implies that either the emerging market currencies have become more stable and appreciated relative to the...

Ngày tải lên: 06/03/2014, 14:20

Ngày tải lên: 11/06/2014, 10:40

Ngày tải lên: 03/11/2014, 17:35

... balancing of tough realism on the one hand, and idealism on the other. Of our understanding of the world as it is, and as it ought to be. The question, I think, is whether in recent years we have ... about themselves, their government and their country; but he believed they could only feel better in the knowledge that their govern- ment was doing right, and could only feel justiWed pride if they ... success. The Carter solution Carter had a remarkably clear sense of the loss of trust and the severing of power and virtue that Vietnam and Watergate had caused and thus of the damage done to the...

Ngày tải lên: 01/11/2013, 10:20

... accepted the severance of virtue and patriotic pride and thus the shattering of the essential myth. The clash on the streets, in universities and in homes, between the forces of the establishment and ... moral capital: one was the symbolic legacy of continuity and connection with the martyred president; the second was the legacy of the assassination itself and the general suspicion it aroused; and ... the Cold War and the actions of previous presidents in the light of it. The pivotal moral, political and symbolical role of the presi- dency made it the natural focus of the crisis of faith and...

Ngày tải lên: 01/11/2013, 10:20

... (www.dissentmagazine.or/archive/su99/wilentz.html). 250 Moral capital and the American presidency oYce in the land at the age of forty-eight. He was the Wrst baby-boomer president, and the Wrst to be elected in the post-Cold War era ... combination of ‘ the rightness of the cause and the swiftness of the victory.’’ 7 Pride and virtue, in other words, power and goodness, had at last been restored and reunited. Once the initial euphoria ... Despite the Gulf War, a remnant of the ‘‘Vietnam syndrome’’ still aVected citizens, Congressmen and the military (most notably in the case of sometime Chairman of the 244 Moral capital and the American...

Ngày tải lên: 01/11/2013, 10:20

... restructure the debate on financial liberalization and to articulate the arguments against the financial liberalization theory. It puts into focus some of the worries, criticisms and limitations of the ... envisaged by the theory of financial liberalization. The chapter begins by developing the conceptual framework for the whole study. This involves the examination of the theory of financial liberalization, ... investment. The model also allows the calculation of the net effect of the real interest rate on investment after taking into account the effect of the real interest rate on the provision of credit and...

Ngày tải lên: 17/12/2013, 05:15

Ngày tải lên: 18/02/2014, 11:20

... of the years of schooling of the head of the household, the years of schooling of the money manager and the average schooling of the heads of the village households are estimated. All of the ... discussed in the previous section and the education of the villagers and the bank managers are analyzed in Figures 1 - 6 and in tables 4A, B, and C. Figures 1, 3, and 5 describe how the likelihood ... of the village. The accuracy of financial statements, the nature of the savings and lending services that are offered and other bank policies may all depend on the skill and education of the...

Ngày tải lên: 06/03/2014, 10:20

... that the cost of capital of the firm depends on four factors: the risk free rate, the aggregate risk tolerance of the market, the expected cash flow of the firm, and the covariance of the firm’s ... ours, the nature of the cross-sectional impact on the covariance, and therefore the cost of capital, differs in their paper because of the different information structure assumed. When the information ... links the disclosure of accounting information to the cost of capital. Specifically, we examine whether and how the quality of a firm’s accounting information manifests in its cost of capital, ...

Ngày tải lên: 06/03/2014, 21:20

... in the alluvial deposition with a rapid rate. This, on the one hand can enlarge natural land, it also affects hydrodynamic regime and flood drainage capacity on the other. Moreover, the ... removed and the coastal fisheries could disappear. The temporal mangrove areas surrounding these pools may be affected and no longer suitable for agricultural production. The diversity of the ... year. The issue of sediment transport and changes in morphology of rivers, estuaries and coastal areas is still a difficult problem both in theory and practice. This study applied the MIKE...

Ngày tải lên: 10/03/2014, 18:20

Ngày tải lên: 15/03/2014, 09:20

Ngày tải lên: 23/03/2014, 05:23

Ngày tải lên: 19/06/2014, 18:20