Now showing items 1-7 of 7
What Matters for Financial Development? Capital Controls, Institutions, and Interactions
The authors examine links between capital account liberalization, legal and institutional development and financial development. They explore financial opening and equity market development, whether opening the goods ...
Assessing the Emerging Global Financial Architecture: Measuring the Trilemma’s Configurations over Time
The authors develop a methodology to characterize in an intuitive manner the choices countries have made with respect to the trilemma during the post Bretton-Woods period.
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 ...
Current Account Balances, Financial Development and Institutions: Assaying the World Savings Glut
Through investigation of the medium-term determinants of the current account the authors find that for industrial countries, the government budget balance is an important determinant of the current account balance. ...
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 ...