排序方式: 共有16条查询结果,搜索用时 46 毫秒
1.
Could external restraint and internal balance in Mexico havebeen reconciled at levels of savings and investment that allowedsatisfactory growth in output without the 198990 restructuringof debt? What are the likely implications of Mexico's "Bradydeal" on economic growth? What are the macroeconomic effectsof debt-equity swaps? This article develops and estimates amodel to address these issues. The analysis concludes that the198990 agreement in Mexico will contribute materiallyto macroeconomic stability and the restoration of economic growth. 相似文献
2.
Developing countries have witnessed an increase in foreign bank participation during the last decade. Using bank level data for the period 1991–2001, we examine the influence of foreign banks on the financing of small firms in Tanzania. Despite dominating the banking sector, results suggest that the financing of small firms by foreign banks is insignificant compared to domestic banks. Clearly, there is a need for a new approach to policy that will encourage significant foreign bank lending to small firms. 相似文献
3.
Enterprise reform in Eastern Europe 总被引:3,自引:0,他引:3
4.
Sweder van Wijnbergen 《Review of World Economics》1984,120(3):460-480
Zusammenfassung ?lpreisschocks und Leistungsbilanz: Eine Analyse der kurzfristigen AnpassungsmaΒnahmen. — Der Aufsatz befa?t sich mit einer
groΒen Gruppe von Entwicklungsl?ndern, die kein Roh?l f?rdern und die zur Finanzierung ihrer Leistungsbilanzdefizite haupts?chlich
auf internationale Beh?rden oder eigene Reserven angewiesen sind. Unglücklicherweise hatten viele dieser L?nder bereits eine
schwache Reserveposition, als die letzte Welle von ?lpreiserh?hungen begann, was auf den ?lpreisschock von 1973/74 und die
anschlieΒende weltweite Rezession zurückzuführen ist. Deshalb verwenden wir hier ein Modell, in dem keine Kapitalmobilit?t,
aber feste Wechselkurse vorausgesetzt werden. AuΒerdem wird angenommen, daΒ das betreffende Land für importierte Fertigwaren
Preisnehmer ist, dagegen auf seinem Exportmarkt eine gewisse Monopolstellung besitzt. Untersucht werden die Auswirkungen eines
?lpreisschocks auf Produktion, Preise, Investitionen und Leistungsbilanz, auΒerdem verschiedene MaΒnahmen zur Anpassung der
Leistungsbilanz (Geld-, Wechselkurs- und Handelspolitik) sowohl unter der Annahme flexibler als auch starrer Reall?hne.
Résumé Chocs de prix pétrolier et la balance des paiements courants: une analyse des mesures d’ajustements à court terme. — L’article s’occupe d’un grand nombre des PVD non-pétrole qui principalement dépendent d’agences officielles ou de leurs réserves comme source de financer des déficits dans leurs balances des paiements courants. Malheureusement, beaucoup de ces pays avaient eu peu de réserves au commencement de la période récente des chocs de prix pétrolier comme résultat des événements de 1973/74 et de la suivante récession mondiale. En conséquence, l’auteur ne suppose aucune mobilité de capital, mais un régime des taux de change fixes. Il suppose de plus que le pays ne peut pas influencer le prix pour les produits finis importés, mais qu’il a quelque pouvoir de monopole sur ses marchés d’exportations. Les conséquences directes d’un choc de prix pétrolier sur la production, les prix, l’investissement et la balance des paiements courants sont analysés aussi bien que plusieurs mesures d’ajuster cette balance (la politique monétaire et commerciale et la politique du taux de change) en supposant que des salaires réels soient flexibles ou rigides.
Resumen Shocks de precios del petroleo y la cuenta corriente: un análisis de medidas de ajuste de corto plazo. — El artfculo se ocupa de un amplio grupo de paises en desarrollo no productores de petróleo que dependen de agencias oficiales o rèservas propias como fuente de financiamiento para dèficits de cuenta corriente. Desafortunadamente, muchos de estos paises ingresaron al periodo corriente de shocks del petroleo con una dèbil posici?n de rèservas, como resultado de los acontecimientos de 1973/74 y la recesión mundial sobreviniente. Por lo tanto, en el modelo nosotros suponemos que no hay movilidad de capital, pero un règimen cambiario fijo, y que el pais adopta los precios en el mercado de bienes finales importados, pero tiene algún poder monopólico en su mercado de exportación. Se analizan los efectos de impacto de un shock del petróleo sobre el producto, precios, inversiones y cuenta corriente como tambièn varias medidas de ajuste de cuenta corriente (politica monetaria, politica cambiaria y polftica comercial) bajo el supuesto de salarios reaies flexibles y rigidos.相似文献
5.
Tax holidays for foreign multinational firms are tax concessions or straight subsidies granted for a limited period after entry. Such phenomena occur widely. We apply a sequential bargaining framework to a problem of ex post bilateral monopoly characterized by the presence of a host-country government and a foreign multinational firm. We show formally how a tax holiday can arise due to irreversible outlays and outside options. 相似文献
6.
This case study of fiscal sustainability in Turkey after thecrisis in 2001 reviews and extends quantitative approaches tofiscal sustainability analysis and brings them together in auser-friendly tool applicable in a data-sparse environment.It combines a dynamic simulations approach with a steady-stateconsistency approach. It also incorporates user-defined stresstests and stochastic simulations to deal with uncertainty. Andit derives the future distribution of debt-output ratios, evaluatingthe fiscal adjustment required to stabilize them. Value at Riskanalysis shows that considerable risks remain unless explicitfeedback rules from debt surprises to the primary surplus areimplemented. 相似文献
7.
8.
When debt levels approach critical levels, tax payers may revolt against the associated debt service burden. Funding problems may arise in capital markets when lenders anticipate such revolts and refuse to participate in debt auctions. We provide a stochastic framework to assess whether such problems may arise and argue that the key to fiscal sustainability in a stochastic environment is a feedback rule from debt level shocks back to corresponding adjustments in the primary surplus. We show that such feedback rules narrow future distributions of debt–output ratios and so reduce crisis probabilities. We apply the methodology to Dutch debt and deficit data spanning two centuries. Our results strongly argue for the incorporation of rules stipulating tightening fiscal policy whenever debt stocks exceed previously agreed upon targets (like in the original Eurozone Stability pact). 相似文献
9.
Using a comprehensive data set on issuances and holdings of contingent convertible debt instruments (CoCos) issued by European banks, we investigate who invests in European CoCos. The results indicate that most European CoCos are not directly held by euro area investors. Foreign investors outside the euro area and investment funds located in Ireland and Luxembourg hold the large majority. Euro area banks, insurers and pension funds only have very limited direct exposures. Households in the euro area hold almost no direct positions in European CoCos, although there could be indirect holdings through non-euro area entities and euro area investment funds. Concerns for contagion through cross-holdings of CoCos by banks seem to be unwarranted. 相似文献
10.