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Steve Davies Nikolaus Hammer Glynne Williams Rajeswari Raman Clair Siobhan Ruppert Lyudmyla Volynets 《Industrial Relations Journal》2011,42(2):124-138
This article investigates how fundamental labour rights specified in international framework agreements are implemented and monitored in subcontracting chains. It shows how labour's capacity for workplace‐based monitoring is influenced by factors such as ownership structures, the societal context, and, most importantly, the institutions and dynamics of local labour control. 相似文献
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In this paper we explore the ‘Mrs. Machlup's Wardrobe’ hypothesis to understand the growing trend of Latin American economies amassing large stocks of international reserves. Using annual data from 1980 to 2007, we examine the relevance of the argument that economies continue to add to their existing reserves stock in order to keep up with the Joneses. We find strong evidence of presence of the Joneses effect. The effect is robust to the inclusion of traditional determinants of reserve accumulation as well as region specific factors including commodity exports that set the Latin American economies apart from other emerging economies. 相似文献
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A key challenge facing most emerging market economies today is how to simultaneously maintain monetary independence, exchange rate stability and financial integration subject to the constraints imposed by the trilemma, in an era of widespread globalization. In this paper we review and contrast the trilemma policy choices and trade‐offs faced by the two key drivers of global economic growth: China and India. China's trilemma configurations are unique relative to other emerging markets in terms of the predominance of exchange rate stability, and in the failure of the trilemma regression to capture a consistently significant role for financial integration. In contrast, the trilemma configurations of India are in line with choices made by other emerging countries. Over time, India, like other emerging economies, has converged towards a middle ground among the three policy objectives, and has achieved comparable levels of exchange rate stability and financial integration buffered by sizeable international reserves. 相似文献
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Capital inflows to and outflows from emerging market economies (EME) have increased significantly since 2000. This rapid increase, accompanied by a sharp rise in volatility, has amplified the complexity of macroeconomic management in EME. While foreign capital provides additional financing for productive investment and offers avenues for risk diversification, unbridled flows exacerbate financial and macroeconomic instability. In this paper, we focus on the experience of six emerging Asian economies (EAE) in dealing with capital flows. Using quarterly data, we identify the waves of capital flows experienced by these EAE and the efficacy of the various policy measures taken. The policy choices include negotiating the trilemma (i.e. balancing the need for monetary policy autonomy, exchange rate flexibility and capital account openness), as per the demands of the macroeconomic situation. The paper also analyses the extent to which intervention in the foreign exchange market and imposition of short‐term capital flow management measures have aided countries to negotiate the trilemma. The efficacy of these responses have been varied across countries, implying that a judicious mix of these measures, along with improvement in financial and institutional development, is required to effectively counter the vagaries of capital flows. 相似文献
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Global Imbalances: Is Germany the New China? A Skeptical View 总被引:1,自引:1,他引:0
In this paper we evaluate the current account patterns of China and Germany. We point out that China’s current account surplus
as a share of global GDP in recent years resembles that of Germany’s. Yet, an important difference is that the Euro block’s
current account inclusive of Germany has overall been balanced, whereas emerging Asia’s current account inclusive of China
has mostly been characterized by sizable surpluses. We further find that both China and Germany’s current account surpluses
seem to be accounted for by common factors. However we have reasons to doubt the long run viability of these current account
trends in future decades. Demographic transitions in China and Germany are projected to reduce their surpluses, and this effect
is stronger for Germany. We also discuss plausible reasons to doubt the extent to which the Euro block will move towards significant
surplus in the coming years. 相似文献
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Review of World Economics - This paper examines the role of external debt financing (EDF) in shaping the credit cycles and the joint implications of EDF flows and credit growth for the output... 相似文献
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