Now showing items 1-4 of 4
East Asia and Global Imbalances: Saving, Investment, and Financial Development
The paper investigates the role of budget balances, financial development and openness in the evolution of global imbalances. The authors examinine the effect of different types and aspects of financial development using ...
A New Measure of Financial Openness
In creating an index that measures the extent of openness in capital account transactions, the authors address the lack of proper ways of measuring the extent of the openness in cross-border financial transactions. The ...
Price-based Measurement of Financial Globalization: A Cross-Country Study of Interest Rate Parity
The authors characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans developed and emerging market economies. The measured ex post uncovered ...
Global Current Account Imbalances: American Fiscal Policy versus East Asian Savings
The authors consider the origins of global current account imbalances and find that for industrial countries, the government budget balance is an important determinant of the current account balance. Their estimates lead ...