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Working Paper
Trends in International Cooperation and Net Resource Transfers to Developing Countries
Blog
Wealth Distribution, the Financial Crisis and EntrepreneurshipWim Naudé and James C. MacGee Globally, wealth is very unequally distributed, both within countries and between countries. The UNU-WIDER project on...
Working Paper
The Benefits and Costs of Group AffiliationThis paper investigates the benefits and associated agency costs of using internal capital markets through affiliating with groups using data of two thousand firms from nine East Asian economies between 1994-6. We find that mature and slow-growing...
Working Paper
Bank Lending to Emerging MarketsThis paper has two aims. The first is to provide some explanation for the extraordinary collapse in cross-border bank lending to developing countries which has taken place since 1997. The second is to argue that it might be too simplistic to...
Working Paper
Stock Market Development and Economic GrowthSince the 1990s economists have devoted considerable attention to the study of the relationship between financial markets development and economic growth. In particular, the emergence of stock markets with economic development is an intriguing and...
Working Paper
Financial Reform and the Mobilization of Domestic SavingsUsing a vector error-correction model, I explore the short-run dynamics and long-run linkages between financial reform and the mobilization of domestic saving in Morocco. In the short run, financial depth (volume of intermediation) is shown to have a...
Working Paper
International Finance and the Developing WorldMuch has changed in international finance in the twenty years since UNU-WIDER was founded. This paper identifies five broad contours of what we might expect in the next twenty years: the flow of capital from ageing societies to the more youthful...
Working Paper
International Risk Tolerance, Capital Market Failure and Capital Flows to Emerging MarketsThe level, tenor and instability of capital flows from global financial markets towards developing countries are a major source of concern for macroeconomic managers, while their causes remain largely unexplained by economic theory. Country...
Blog
Domestic Resource Mobilization and Financial Development: Looking at the MDGs from a Different Angle?
George Mavrotas While recent years have witnessed new interest in the finance–growth nexus, the relationship between domestic resource mobilization...
Working Paper
Dual Exchange Markets and InterventionIt is argued that the theoretical literature on dual exchange markets has completely neglected the form of central bank intervention emphasized by the "classics". They advocated neutral intervention where the central bank sells in the capital market...
Working Paper
Liberalization of Capital Movements and TradeA two-period, two-sector optimizing model is used to study the effects of liberalization of trade and capital movements on the real exchange rate, unemployment, and welfare. The mechanism creating unemployment is assumed to be real wage rigidity...
Working Paper
Capital Flows, Exchange Rate Regime, and Macroeconomic Performance in MexicoThis paper analyzes the short-term effects of foreign capital flows on aggregate demand in Mexico: their magnitude, transmission channels, and the possible influence of the country’s choice of exchange rate regime. The study is motivated by the...
Working Paper
The Asian Currency CrisisWhat started in the summer of 1997 as a regional economic and financial crisis in East and Southeast Asia had developed into a global financial crisis within the span of a year. This crisis followed the crisis in the European Monetary System in 1992...
Displaying 16 of 63 results