National Bureau of Economic Research Conference Report

Sebastian Edwards, Márcio G. P. Garcia, Sebastian Edwards, Márcio G. P. Garcia

• Publisher: University of Chicago Press
• Year: 2008
• ISBN:
  9780226185040
• Topic: Betriebswirtschaft
• Subtopic: Business allgemein

Capital mobility is a double-edged sword for emerging economies, as governments must weigh the benefits of investment against the potential economic costs and political consequences of currency crises, devaluations, and instability. Financial Markets Volatility and Performance in Emerging Markets addresses the delicate balance between capital mobility and capital controls as developing countries navigate the convoluted global network of private investors, hedge funds, large corporations, and international institutions such as the International Monetary Fund.A group of experts here examine rapidly globalizing financial markets with regard to capital flows and crises, domestic credit, international financial integration, and economic policy. Featuring detailed analyses and cross-national comparisons of countries such as Brazil, Argentina, Uruguay, and Korea, this book will shape economists' and policymakers' understanding of the effectiveness of restrictions on capital mobility in the world's most fragile economies.  

Table of contents

• Contents
• Preface
• Introduction
• 1. Links between Trade and Finance: A Disaggregated Analysis
• 2. Ineffective Controls on Capital Inflows under Sophisticated Financial Markets: Brazil in the Nineties
• 3. Financial Openness, Currency Crises, and Output Losses
• 4. Capital Market Development: Whither Latin America?
• 5. Judicial Risk and Credit Market Performance: Micro Evidence from Brazilian Payroll Loans
• 6. Liquidity Insurance in a Financially Dollarized Economy
• 7. Sudden Stops and IMF-Supported Programs
• 8. Mutual Reinforcement: Economic Policy Reformand Financial Market Strength
• Contributors
• Author Index
• Subject Index