Página 1 dos resultados de 1717 itens digitais encontrados em 0.128 segundos
- FEUC. Grupo de Estudos Monetários e Financeiros
- Biblioteca Digital da Unicamp
- University of Rochester.
- Washington, DC
- World Bank, Washington, DC
- Biblioteca Digitais de Teses e Dissertações da USP
- Universidade Nacional da Austrália
- Universidad Militar Nueva Granada; Facultad de Ciencias Económicas; Especialización en Finanzas y Administración Pública
- MIT - Massachusetts Institute of Technology
- Universidade de São Paulo. Escola de Comunicações e Artes
- UNAM, Facultad de Economía
- Universidad Nacional Autónoma de México, Instituto de Investigaciones Económicas
- Mais Publicadores...
How well the balance-of-payments constraint approach explains the Portuguese growth performance. Empirical evidence for the 1965-2008 period
Fonte: FEUC. Grupo de Estudos Monetários e Financeiros
Publicador: FEUC. Grupo de Estudos Monetários e Financeiros
Tipo: Trabalho em Andamento
ENG
Relevância na Pesquisa
95.95%
#Balance-of-payments equilibrium growth rate#Income-elasticities with respect to trade#Overlapping periods#2SLS regressions
The present study aims to verify whether the balance-of-payments constrained growth approach is suitable for explaining the Portuguese growth performance during the last decades. For that, we adopt “Thirlwall’s Law” that predicts actual growth by the ratio of the exports growth relative to the income-elasticity of the demand for imports. The income-elasticity of imports, essential for the entire analysis, is obtained from the estimation of the imports function by 2SLS, assuming that domestic growth is endogenous.
To smooth cyclical variations, 15-year overlapping periods are considered in the computation of “Thirlwall’s Law”, assuming that income-elasticity with respect to imports is either constant or variable over time. It is found that the Law is a good instrument for predicting actual growth in Portugal and this result is reinforced by performing the McCombie test.
Our results reveal that Portugal grew slightly higher relatively to the OECD countries in the entire period and this is consistent with the income-elasticity of the demand for exports exceeding that of imports, as “Thirlwall’s Law” implies. Portugal also grew slightly faster than the rate consistent with the balance-of-payments equilibrium, accumulating external deficits over time. Dividing the sample in the pre and post-adhesion period to the EU...
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O modelo de crescimento liderado pelas exportações e restringido pelo balanço de pagamentos revisitado; The export-led and balance-of-payments constrained growth model revisited
Fonte: Biblioteca Digital da Unicamp
Publicador: Biblioteca Digital da Unicamp
Tipo: Dissertação de Mestrado
Formato: application/pdf
Publicado em 04/05/2012
PT
Relevância na Pesquisa
95.88%
#Desenvolvimento econômico#Balanço de pagamentos#Taxas de câmbio#Economic development#Balance of payments#Exchange rates
Este trabalho busca contribuir para a literatura teórica sobre crescimento e desenvolvimento econômico dentro da escola de pensamento keynesiana/kaldoriana por meio de uma estrutura analítica que procura reconciliar ambos os modelos, tanto o de crescimento liderado pelas exportações (Dixon & Thirlwall, 1975) quanto o de crescimento restringido pelo balanço de pagamentos (Thirlwall, 1979) em uma especificação matemática mais geral. Feito isso, partindo do modelo revisitado, faremos algumas considerações acerca do papel da taxa de câmbio como ferramenta de política macroeconômica por meio de simulações como experimento teórico.; This work attempts to contribute theoretically to the literature on growth and development within the Keynesian-Kaldorian school of thought by providing an analytical framework that seeks to reconciliate both the export-led (Dixon & Thirlwall, 1975) and the balance-of-payments constrained growth (Thirlwall, 1979) models into a further general mathematical specification. Provided the revisited model, we will assess the role played by the exchange rate as a macroeconomic policy tool by using computational simulation as a theoretical experiment.
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Um modelo tock-flow consistent (SFC) com crescimento restrito pelo balanço de pagamentos; A stock-flow consistent (SFC) model with growth constrained by the balance of payments
Fonte: Biblioteca Digital da Unicamp
Publicador: Biblioteca Digital da Unicamp
Tipo: Dissertação de Mestrado
Formato: application/pdf
Publicado em 25/02/2013
PT
Relevância na Pesquisa
95.95%
#Balanço de pagamentos#Crescimento econômico#Fluxo de capitais#Balance of payments#Economic growth#Capital flows
Este trabalho busca integrar dois importantes ramos da literatura pós-keynesiana: a chamada abordagem stock-flow consistent (SFC), cujas origens estão em trabalhos como Godley e Cripps (1983) e Godley (1997), entre outros; e a teoria do crescimento restrito pelo balanço de pagamentos (BPC), inaugurada no modelo seminal de Thirlwall (1979). Após uma breve revisão bibliográfica de ambas as literaturas, são construídas um modelo stock-flow consistent com crescimento e restrição externa. Utiliza-se o modelo para simular diferentes tipos de fluxos internacionais de capitais, que demonstram ter efeitos bastante distintos sobre a economia local.; The aim of this dissertation is the integration of two important branches of the Post Keynesian literature: the so called stock-flow consistent (SFC) approach, with origins that can be found in Godley and Cripps (1983) and Godley (1997), among others; and the theory of balance of payments constrained growth (BPC), initiated in the seminal model of Thirlwall (1979). After a brief review of both literatures, a stock-flow consistent model with growth and a balance of payments constraint is developed. The model is used to simulate international capital flows of various kinds, which demonstrate to have very different effects on the local economy.
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Essays in international finance
Fonte: University of Rochester.
Publicador: University of Rochester.
Tipo: Tese de Doutorado
Formato: Number of Pages:viii, 141 leaves
ENG
Relevância na Pesquisa
75.9%
#Trade balance#Exchange rate#Current account#Balance of payments#Labor contracts#Rybczynski theorem#Stolper-Samuelson theorem#Factor price equalization theorem
Thesis (Ph. D.)--University of Rochester. Dept. of Economics, 1982.
; Neoclassical general equilibrium models are employed in this thesis to analyze several questions of interest in international finance. In the first chapter of the thesis an intertemporal choice-theoretic model of the joint behavior of the exchange rate and the current account is constructed. The model yields a set of predictions about the relationship between movements in the exchange rate and the current account and important economic variables such as income, government spending, and the money supply. It turns out that the correlation between the exchange rate and the current account is theoretically ambiguous. In particular, the association between movements in these two variables depends in an essential manner on the nature of exogenous disturbances affecting them simultaneously. Finally, the role for an optimal monetary policy and the choice of exchange rate regime for a small open economy are discussed. In the second chapter the model employed in the first chapter is extended to allow for the inclusion of a nontraded goods sector. Also, the discussion in this chapter is focused on the balance of payments rather than the exchange rate, so as to highlight the fact that the model used in the first chapter is flexible enough to analyze either a fixed or flexible exchange rate system. This extension permits an investigation of the pattern of comovement between current account...
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Petroleum Product Markets in Sub-Saharan Africa : Comparative Efficiency Analysis of 12 Countries
Fonte: Washington, DC
Publicador: Washington, DC
Relevância na Pesquisa
75.8%
#ACCESS TO ELECTRICITY#ACCIDENTS#AIRPORT#ALTERNATIVE TRANSPORT#ALTERNATIVE TRANSPORT MODES#AVAILABILITY#AVIATION FUEL#BALANCE#BALANCE OF PAYMENTS#BARRIERS TO ENTRY#BOILERS
Petroleum products are used across the
entire economy in every country. Gasoline and diesel are the
primary fuels used in road transport. Oil is used in power
generation, accounting for eleven percent of total
electricity generated in Africa in 2007. Adequate and
reliable supply of transport services and electricity in
turn are essential for economic development. Households use
a variety of petroleum products: kerosene is used for
lighting, cooking, and heating; liquefied petroleum gas for
cooking and heating; and gasoline and diesel for private
vehicles as well as captive power generation. Prices users
pay for these petroleum products have macroeconomic and
microeconomic consequences. At the macroeconomic level, oil
price levels can affect the balance of payments, gross
domestic product (GDP), and, where fuel prices are
subsidized, government budgets, contingent liabilities, or
both. At the microeconomic level, higher oil prices lower
effective household income in three ways. First, households
pay more for petroleum products they consume directly.
Seventy percent of Sub-Saharan Africans are not yet
connected to electricity; most without access rely on
kerosene for lighting. Second...
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Political Economy of Antidumping and Safeguards in Argentina
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Relevância na Pesquisa
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#ADMINISTRATIVE PROCEDURES#AGGREGATE IMPORTS#ANTIDUMPING#ANTIDUMPING MEASURES#ANTIDUMPING PETITIONS#AVERAGE TARIFF#BALANCE OF PAYMENTS#BALANCE OF PAYMENTS CRISES#BILATERAL AGREEMENT#BUDGET CONSTRAINTS#CAPITAL FLOWS
Beginning in the late 1980s, Argentina implemented a series of reforms that were revolutionary in speed and scope, including trade liberalization. After the implementation of these policies, a record number of antidumping petitions came forward. Under a situation of high inflation, the government reinforced its fiscal and monetary policies by announcing that it would minimize the use of such measures. The flexible disciplines of the existing domestic antidumping regulations facilitated this objective. Later, when the GATT/WTO-sanctioned trade remedies were implemented, the government made a serious attempt to establish discipline by including liberal regulations and creating special institutional arrangements. A presumption built into the construction of the new mechanisms was that adhering to WTO requirements would strengthen the resistance against protection. This presumption turned out to be false. Changing circumstances, including severe peso overvaluation, had significant effects on the number and outcome of antidumping investigations. Regarding safeguards, the government followed the letter and the spirit of the WTO agreement. In relation to the number of petitions, few measures have been implemented. Rejections were based on a concern for consumer costs and on failure of the industry seeking protection to provide a convincing modernization plan. This...
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Federal Republic of Yugoslavia - Breaking with the Past : The Path to Stability and Growth
Fonte: Washington, DC
Publicador: Washington, DC
EN_US
Relevância na Pesquisa
75.81%
#ACCOUNTING#AGRICULTURAL SECTOR#AGRICULTURE#AUTHORITARIAN RULE#AUTHORITY#BANK RESTRUCTURING#BANKING SECTOR#BANKRUPTCY#BARRIERS TO ENTRY#BUDGET CONSTRAINTS#BUDGET MANAGEMENT
The study focuses on the renewed
transition to democracy, and a market economy in the Federal
Republic of Yugoslavia (FRY), within the context of
extremely difficult economic, and social conditions: poor
macroeconomic outcomes, with sharp drops in output, and
trade, and, very high inflation; severe enterprise,
financial, and infrastructure deterioration; and, worsened
social indicators, showing increased poverty levels.
Although the Federal authorities implemented reforms in
foreign trade policy, initiated customs administration
reforms, and developed a plan for bank restructuring, these
early successes were still on the path of difficult reforms,
and institutional strengthening. The Federal, and Republican
Governments, will require the adoption of transition
reforms, and investment priorities to meet three
inter-dependent challenges: restoring macroeconomic
stability, and external balance; stimulating growth, and
creating the basis for a sustainable supply response; and,
improving the social well-being of the most vulnerable...
Link permanente para citações:
High Consumption Volatility : The Impact of Natural Disasters?
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
75.76%
#AGRICULTURAL PRODUCTION#AGRICULTURE#ARABLE LAND#AVERAGE CONSUMPTION#AVERAGE GROWTH#BALANCE OF PAYMENTS#CONCEPTUAL FRAMEWORK#CONSUMPTION GROWTH#CONSUMPTION PER CAPITA#CONSUMPTION SMOOTHING#CONSUMPTION VOLATILITY
A history of repeated external and
domestic shocks has made economic insecurity a major concern
across the Caribbean region. Of particular concern to all
households, especially the poorest segments of the
population, is the exposure to shocks that are generated by
catastrophic events or natural disasters. The author shows
that despite high consumption growth, the Caribbean region
suffers from a high volatility of consumption that decreases
household welfare. After presenting some empirical evidence
that consumption volatility is higher in the Caribbean
region than in the rest of the world, he makes some
empirically testable inferences that help explain
consumption volatility. The author develops a conceptual
framework for analyzing the effects of catastrophic events
on household and aggregate welfare. According to this
framework, the volatility of consumption comes from
production shocks that are transformed into consumption
shocks mostly because of underdeveloped or ineffective
risk-management mechanisms. Auffret conducts an empirical
analysis of the impact of catastrophic events on 16
countries (6 from the Caribbean region and 10 from Latin
America) from 1970-99 and shows that catastrophic events
lead to: 1) A substantial decline in the growth of output.
2) A substantial decline in the growth of investment. 3) A
more moderate decline in consumption growth (most of the
decline is in private consumption...
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O Plano Real e o balanço de pagamentos do Brasil; The Real Plan and the Brazilian Balance of Payments
Fonte: Biblioteca Digitais de Teses e Dissertações da USP
Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Tese de Doutorado
Formato: application/pdf
Publicado em 09/06/2015
PT
Relevância na Pesquisa
95.87%
#Balança de pagamento (Brasil)#Balance of payments#Direito#Exchange rate#Foreign exchange reserves#Interest rate#Legal regime of foreign capital#Legal regime of public debt#liquidity#Plano real#Real Plan
Este trabalho tem como objetivo analisar o Plano Real e o Balanço de Pagamentos do Brasil. O que se pretende verificar é se o Plano Real é consentâneo ao sistema de Direito Brasileiro. Para tanto, a análise foi dividida em três blocos. No primeiro, que compreende os Capítulos I e II, foram apresentadas noções indispensáveis para a compreensão do assunto: de preço, poder de compra da moeda e taxa de câmbio. Na oportunidade, também se esclareceu que o Plano Real tinha como principal objetivo combater a inflação no país causada, segundo seus idealizadores, pela indexação da economia e pelo déficit público. A partir deste diagnóstico, o Plano Real é elaborado com base em três principais medidas: ajuste fiscal, criação da Unidade Real de Valor (URV) e adoção de uma âncora cambial. O segundo bloco deste trabalho, integrado pelos Capítulos III a V, vai esmiuçar esta última medida e seus efeitos, bem como as alterações legislativas provocadas pelo Plano Real (principalmente Emendas Constitucionais nº 5 a 9, todas de 1995, e Lei nº 9.069/1995). Aqui também se demonstrará como o Plano Real consagrou a ideologia preconizada pelo Consenso de Washington. No último bloco, composto pelo Capítulo VI, são analisados os efeitos provocados no nível de endividamento público decorrentes das medidas adotadas pelo Plano Real e a alteração das regras jurídicas que tratam da dívida pública que vieram ao encontro dele (principalmente Lei Complementar n° 101/2000). Neste ponto...
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National income and balance of payments of Fiji 1950-53
Fonte: Universidade Nacional da Austrália
Publicador: Universidade Nacional da Austrália
Tipo: Thesis (PhD); Doctor of Philosophy (PhD)
EN_AU
Relevância na Pesquisa
95.9%
In this thesis are presented the results of an investigation of the national income and balance of payments for the colony of Fiji during the period 1950-53. The two introductory chapters (I and II) include a background description of the Colony and discussion of national income methods and techniques employed. There follows an analysis of the National Income material (chapter III-VI) set out in output, income and expenditure form and sub-classified by industrial origin of output, distribution of incomes and directions of expenditure on consumption and investment. An account of the government sector and the incidence of taxation is included (chapter VII). The balance of payment analysed and presented (chapter VIII) with a discussion of the direction and composition of external trade. Two chapters of a subsidiary nature (IX and X) describe economic aspects of the life of Indians and Fijians respectively and are based on supplementary information collected during field surveys. A chapter of conclusions (XI) discusses economic aspects of some of the main statistical conclusions which emerge from the investigation modities.; This thesis has been made available through exception 200AB to the Copyright Act; Yes
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Promoting Intellectual Property Monetization in Developing Countries : A Review of Issues and Strategies to Support Knowledge-driven Growth
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
75.9%
#ACCESS TO CAPITAL#ACCESS TO TECHNOLOGY#ACCOUNTING#ACTIVE MARKETS#AMORTIZATION#ARBITRATION#ASSET CLASS#BALANCE OF PAYMENT#BALANCE OF PAYMENTS#BALANCE SHEETS#BANKRUPTCY
This paper outlines and evaluates
several intellectual property monetization strategies
available to patent holders in developing countries that
help generate domestic innovation and knowledge-driven
growth by promoting more active technology markets. Based on
a review of World Intellectual Property Report indicators,
the patent ownership gap between a sample of developed and
developing countries has narrowed gradually for more
technologically-sophisticated developing countries. However,
based on complementary International Monetary Fund Balance
of Payments data, the patent commercialization divide (as
indicated by licensing income) has been widening. The paper
argues that patents, and all forms of intellectual property,
are an enabling mechanism rather than a defensive right: an
intangible asset class that can be proactively nurtured and
managed for greater value extraction to stimulate
knowledge-based entrepreneurship and growth in developing
countries. The paper presents multiple case studies of
alternative monetization strategies to address the
commercialization divide. These strategies range from
private...
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Tajikistan Policy Note : Enhancing the Development Impact of Remittances
Fonte: Washington, DC
Publicador: Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
75.85%
#ACCOUNT TRANSFER#ACCOUNTING#AGRICULTURE#ASYLUM#BALANCE OF PAYMENT#BALANCE OF PAYMENTS#BANK ACCOUNTS#BANK TRANSFERS#BANKING SYSTEM#BASIC NEEDS#BUSINESS CYCLES
Remittances have played an important
role as one of the drivers of Tajikistan's robust
economic growth during the past several years. The volume of
official remittances has significantly increased since 2001
and now represent close to 12 percent of GDP (2004).
Remittances have become the most important source of
external financing for the balance of payments, have
increased incomes, and as a result helped reduce poverty.
Recognizing their importance, the Tajikistan authorities
have sought to sustain remittance flows. However, anecdotal
evidence indicates that migrants are not sufficiently
integrated into the Tajikistan financial system, much less
that of the destination countries (e.g. Russia). This Policy
Note has two main objectives: (1) to expand knowledge of the
size of remittances, their sending mechanisms (especially
through formal channels), and their use; and (2) to propose
policy recommendations to enhance the development impact of
remittances. The report is organized into six sections,
including an Introduction. The sections provide background
on migration and remittances related to Tajikistan; discuss
the estimation of remittance size and data issues; examine
the transfer channels of remittances (their cost...
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Opportunities for Mitigating the Environmental Impact of Energy Use in the Middle East and North Africa Region
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: ESMAP Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
75.83%
#AIR#AIR POLLUTANTS#AIR POLLUTION#APPROACH#ATMOSPHERIC CONDITIONS#BALANCE#BALANCE OF PAYMENTS#CARBON#CARBON INTENSITY#CLEAN FUELS#CO2
The main motivation for Middle East and
North Africa Region (MENA) governments to improve energy
efficiency is to address pressing domestic concerns, such as
urban air pollution, energy security, economic
competitiveness, the fiscal cost of energy subsidies and the
balance of payments. However, improved energy efficiency is
also seen as the most promising route for reducing the
region's green house gas (GHG) emissions. Therefore, as
part of the study on energy efficiency in MENA, this report
aims to describe and quantify the links between energy
efficiency and GHG emissions as well as urban air pollution
in MENA. More specifically, the objectives of the report is:
(i) to create scenarios of emissions of GHG and selected
urban air pollutants (specifically, particulate matter (PM))
under different assumptions of energy efficiency
improvements; (ii) to identify the country/sectors where
energy efficiency improvements are likely to have the
greatest impact upon GHG and PM emissions; and (iii) to
benchmark MENA against other regions in terms of energy
intensity and GHG emissions.
Link permanente para citações:
Foreign Aid, Conditionality and Ghost of the Financing Gap : A Forgotten Aspect of the Aid Debate
Fonte: World Bank, Washington, DC
Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
75.87%
#FOREIGN AID#DEVELOPMENT ASSISTANCE#CONDITIONALITY (FINANCE)#FINANCING OPTIONS#POLICY FRAMEWORK#QUALITATIVE DATA#FUNGIBILITY OF MONEY#QUANTITATIVE ANALYSIS#BALANCE OF PAYMENTS#GROWTH MODELS#GROWTH POLICY
Assessing Aid: What Works, What
Doesn't, and Why (The World Bank, 1998) generated a new
wave of controversy about foreign aid and policy
conditionality that had seen several decades of intense
debate. Much of the recent debate has focused on the
aid-growth relationship and the role of "good"
policies. While a great deal has been said about qualitative
aspects of aid effectiveness (that is, fungibility, among
other things), little attention has been paid so far to some
important quantitative aspects. The author draws attention
to this neglected aspect of the aid debate to show that the
level of aid requirements of a country is an equally
important and integral part of aid and aid effectiveness.
The author compares the World Bank/IMF approaches to
estimation of external assistance requirements of a country
in quantitative terms with an alternative model, the
"balance of payments constrained growth model"
(based on the Harrod trade multiplier). He finds that the
latter model is not a real alternative as it is an
incomplete model. More important...
Link permanente para citações:
Impacto de la deuda pública externa colombiana en la balanza de pagos 2007-2012; Impact of colombia´s foreign debt in the balance of payments for the period 2007-2012
Fonte: Universidad Militar Nueva Granada; Facultad de Ciencias Económicas; Especialización en Finanzas y Administración Pública
Publicador: Universidad Militar Nueva Granada; Facultad de Ciencias Económicas; Especialización en Finanzas y Administración Pública
Tipo: bachelorThesis; Trabajo de grado
Formato: pdf; pdf
SPA
Relevância na Pesquisa
96.03%
#Deuda Pública#Deuda Pública Externa#Bonos#Banca Multilateral#Balanza de Pagos#DEUDA EXTERNA - COLOMBIA#DEUDA PUBLICA#PLANES DE DESARROLLO - COLOMBIA#COLOMBIA - POLITICA ECONOMICA#DESARROLLO ECONOMICO#Public Debt
Este ensayo es resultado de una investigación documental sobre el impacto de la Deuda Pública Externa colombiana en la Balanza de Pagos para el periodo 2007 a 2012. En el marco de la situación actual del país, se seleccionó este tema debido a que la Deuda Pública Externa representa una de las fuentes más importantes de financiación del Gobierno Nacional determinado a cumplir las necesidades generadas en el país como la inversión y el desarrollo de las políticas y metas gubernamentales. Unido a esto, la Balanza de Pagos es un componente principal en el análisis económico en donde se puede determinar la necesidad de endeudamiento partiendo del déficit que se presente. Es así como existe cierta vulnerabilidad en la Balanza de Pagos debido al comportamiento de la Deuda Pública Externa, la cual ha venido presentado una tendencia creciente repercutiendo en los pasivos de la cuenta de capital en la Balanza de Pagos.; This essay is the result of an investigation documentary about the impact of Colombia's foreign debt in the Balance of Payments for the period 2007-2012. In the context of the current situation of the country, was selected this topic because the External Public Debt is one of the most important sources of financing Government determined to meet the needs arising in the country as investment for the development of the governmental policies and goals. Linked to this...
Link permanente para citações:
Learning to be Lean in an Emerging Economy: The Case of South Korea
Fonte: MIT - Massachusetts Institute of Technology
Publicador: MIT - Massachusetts Institute of Technology
Formato: 33830 bytes; application/pdf
EN_US
Relevância na Pesquisa
85.95%
Balance of payments considerations have driven the
automobile industry strategies of many late-industrializing
countries such as Thailand, Mexico, and Malaysia. These
countries do not intend to become leading suppliers in the
world automobile industry but rather, have designed (if only
by default) their assembly and parts operations with a view
towards protecting their balance of payments. Because an
automobile is a high-value import, and because demand for
automobiles rises steeply as per capita income rises, free
importation of automobiles often hurts a young economy's
balance of payments. Therefore, virtually all lateindustrializing
countries have some intention of developing a
production capability in autos in order to protect the supply
of and demand for foreign exchange.; First draft
Link permanente para citações:
Relações determinantes sobre as despesas e as receitas da conta de viagens internacionais do Balanço de Pagamentos brasileiro; Determinants in the credits and debits of international travel account from the Brazilian Balance of Payments
Fonte: Universidade de São Paulo. Escola de Comunicações e Artes
Publicador: Universidade de São Paulo. Escola de Comunicações e Artes
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; ; ; ; ; ;
Formato: application/pdf
Publicado em 01/08/2008
POR
Relevância na Pesquisa
95.87%
#economia do turismo#despesas de viagens internacionais#taxa de câmbio real.#tourism economy#international travel account of balance of payments#real exchange rate.
The present article looks for causal relations of the income and, especially, the exchange rate on the expenses of the Brazilians who travel abroad and on the revenues resulted from the foreign tourists who visit our country, these data measured in the account of tourism in the Brazilian Balance of Payments. Econometric tests indicate that the expenditure, on average, are affected by the real exchange rate, while the revenues are not. While analyzing this asymmetry it was possible to note another one, which proved that the number of tourists from bordering countries, taking the visitors of Argentina as an example, on average, are sensitive to the real exchange rate. On the other hand the visitors from countries of other continents, taking the number of visitors from the United States as a parameter, are not affected, on average, by the real exchange rate.; O presente artigo busca relações causais da renda e, principalmente, a taxa de câmbio sobre as despesas dos brasileiros que viajam ao exterior e sobre as receitas advindas dos turistas estrangeiros que visitam o nosso país, dados estes mensurados na conta de turismo no Balanço de Pagamentos do Brasil. Os testes econométricos indicam que as despesas, em média, são afetadas pela taxa de câmbio real...
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Growth and convergence/divergence in productivity under balance-of-payments constraint
Fonte: UNAM, Facultad de Economía
Publicador: UNAM, Facultad de Economía
Tipo: Artigo de Revista Científica
Formato: text/html
Publicado em 01/03/2011
EN
Relevância na Pesquisa
95.95%
This paper presents a model of convergence/divergence in productivity for two economies of different size and development building on Kaldor's cumulative causation and the technological gap approaches to growth. Both operate within the logic provided by a balance-of-payments constraint framework. The more developed and larger economy, the leader, is technologically more advanced with higher levels of productivity and issues the international reserve currency. The developing economy, the follower, is closely linked to the leader economy and is balance-of-payments-constrained (BPC). The paper argues that the growth of the leader has at the same time divergent and convergent effects on the productivity gap between both economies. The divergent effect (the Kaldor effect) works through a process of induced productivity and cumulative causation. The convergent effect (Thirlwall's Law) works through the BPC constraint. The model states that growth with convergence in productivity requires that the ratio of export to import income elasticities of the follower economy exceeds the ratio of the induced productivity of the leader economy to that of the follower economy. The paper then highlights the difficulty of achieving convergence under a BPC constraint and provides policy implications.
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Can balance-of-payments constrained economies pursue inflation targeting? A look at the case of Chile
Fonte: UNAM, Facultad de Economía
Publicador: UNAM, Facultad de Economía
Tipo: Artigo de Revista Científica
Formato: text/html
Publicado em 01/01/2009
EN
Relevância na Pesquisa
95.87%
#inflation targeting#balance-of-payments constrained economies#inflation#Chile#Latin America#Central Bank#monetary policy
The current international financial system is anchored on the United States dollar. Countries that do not issue the reserve currency must be able to acquire, and indeed accumulate, the currency they cannot issue to carry real and financial transactions. As a result, their external performance shapes and constrains to a significant extent their capacity to pursue domestic policies including fiscal and monetary policies. In this sense countries are said to be 'balance-of-payments' constrained. This paper examines, for the case of Chile, the limitations imposed by external conditions to the undertaking of a monetary policy strategy, inflation targeting, which focuses explicitly on a domestic objective, namely a low and stable rate of inflation. Chile adopted an inflation targeting strategy in 1991. Since, the adoption of the inflation targeting strategy followed two clear and distinct phases. The first one lasted from 1991 to 1999 and can be termed an Eclectic Inflation Targeting Regime (EIT). From 1999 to the present Chile switched to a Full Fledged Inflation Targeting Regime (FFIT). The analysis of both phases shows that pursuing inflation targeting under balance-of-payments constrained conditions ultimately leads to a conflict of interest between internal and external objectives...
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Manufacturing sector performance in Mexico, under balance of payments-constrained growth
Fonte: Universidad Nacional Autónoma de México, Instituto de Investigaciones Económicas
Publicador: Universidad Nacional Autónoma de México, Instituto de Investigaciones Económicas
Tipo: Artigo de Revista Científica
Formato: text/html
Publicado em 01/03/2008
EN
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95.88%
#trade liberalization#balance of payments-constrained capital productivity#maquiladora#forward and backward linkage#temporary imports for re-export
Between 1998 and 2006, the balance of payments-constrained capital productivity for maquiladoras increased significantly, while the same estimated for non-maquiladoras grew only slightly. The two sectors have not built forward and backward linkages, even though they have been constrained similarly by the foreign exchange gap. Trade liberalization policy, particularly the promotion of temporary imports for re-export, has not helped to bring about export-led growth in Mexico.
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