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Aaron Tornell

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Tornell, Aaron & Velasco, Andres, 2000. "Fixed versus flexible exchange rates: Which provides more fiscal discipline?," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 399-436, April.

    Mentioned in:

    1. Audizione informale alla Commissione Finanze: il mio discorso di fine anno
      by Alberto Bagnai in Goofynomics on 2014-01-01 01:29:00
    2. Lessons from the crisis
      by Alberto Bagnai in Goofynomics on 2013-12-28 04:36:00
    3. Lezioni dalla crisi: perché il Parlamento dovrebbe sfiduciare la Commissione
      by Alberto Bagnai in Goofynomics on 2013-12-29 00:32:00
    4. Alberto vs. Alberto: la moralità di Maastricht...
      by Alberto Bagnai in Goofynomics on 2014-04-30 14:17:00
    5. Il dividendo dei coglioni (cit.): er Biretta e l'euro...
      by Alberto Bagnai in Goofynomics on 2015-08-23 21:48:00
  2. Aaron Tornell & Andres Velasco, 1995. "Fixed versus Flexible Exchange Rates: Which Provides More Fiscal Discipline?," NBER Working Papers 5108, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Audizione informale alla Commissione Finanze: il mio discorso di fine anno
      by Alberto Bagnai in Goofynomics on 2014-01-01 01:29:00
    2. Lessons from the crisis
      by Alberto Bagnai in Goofynomics on 2013-12-28 04:36:00
    3. Lezioni dalla crisi: perché il Parlamento dovrebbe sfiduciare la Commissione
      by Alberto Bagnai in Goofynomics on 2013-12-29 00:32:00
    4. Alberto vs. Alberto: la moralità di Maastricht...
      by Alberto Bagnai in Goofynomics on 2014-04-30 14:17:00
    5. Il dividendo dei coglioni (cit.): er Biretta e l'euro...
      by Alberto Bagnai in Goofynomics on 2015-08-23 21:48:00

Working papers

  1. Romain Ranciere & Aaron Tornell & Frank Westermann, 2006. "Decomposing the Effects of Financial Liberalization: Crises vs. Growth," NBER Working Papers 12806, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ano Sujithan, Kuhanathan, 2014. "Le système financier indien à l'épreuve de la crise," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/14810 edited by Avouyi-Dovi, Sanvi.
    2. Calice,Pietro & Diaz Kalan,Federico Alfonso & Masetti,Oliver, 2020. "Interest Rate Repression : A New Database," Policy Research Working Paper Series 9457, The World Bank.
    3. Hasan,Iftekhar & Horvath,Roman & Mares,Jan, 2016. "What type of finance matters for growth ? Bayesian model averaging evidence," Policy Research Working Paper Series 7645, The World Bank.
    4. Jarrett, Uchechukwu & Mohaddes, Kamiar & Mohtadi, Hamid, 2019. "Oil price volatility, financial institutions and economic growth," Energy Policy, Elsevier, vol. 126(C), pages 131-144.
    5. Norman Loayza & Amine Ouazad & Romain Ranciere, 2017. "Financial Development, Growth, and Crisis: Is There a Trade-Off?," Working Papers 114, Peruvian Economic Association.
    6. Alessandra Bonfiglioli, 2007. "Financial Integration, Productivity and Capital Accumulation," Working Papers 326, Barcelona School of Economics.
    7. Tanna, Sailesh & Luo, Yun & De Vita, Glauco, 2017. "What is the net effect of financial liberalization on bank productivity? A decomposition analysis of bank total factor productivity growth," Journal of Financial Stability, Elsevier, vol. 30(C), pages 67-78.
    8. Saktinil Roy & David M. Kemme, 2022. "Are capital inflow bonanzas a common precursor to banking crises? A categorical data analysis," The World Economy, Wiley Blackwell, vol. 45(10), pages 3192-3223, October.
    9. Eduardo Cavallo & Barry Eichengreen & Ugo Panizza, 2018. "Can countries rely on foreign saving for investment and economic development?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(2), pages 277-306, May.
    10. Comlanvi Jude EGGOH, 2009. "Développement financier, instabilité financière et croissance économique : un réexamen de la relation," LEO Working Papers / DR LEO 444, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    11. Thomas Grjebine & Fabien Tripier, 2015. "Excess Finance and Growth: Don't Lose Sight of Expansions !," Working Papers 2015-31, CEPII research center.
    12. Schularick, Moritz, 2012. "Public debt and financial crises in the twentieth century," Discussion Papers 2012/1, Free University Berlin, School of Business & Economics.
    13. Verberi, Can & Yasar, Sema & Sugozu, Ibrahim Halil, 2023. "Capital liberalization, growth and moral hazard: Lessons from the global financial crisis," International Review of Financial Analysis, Elsevier, vol. 90(C).
    14. Thomas Grjebine & Fabien Tripier, 2016. "Finance and Growth: From the Business Cycle to the Long Run," Working Papers 2016-28, CEPII research center.
    15. Chen, Sophia & Ranciere, Romain, 2019. "Financial information and macroeconomic forecasts," International Journal of Forecasting, Elsevier, vol. 35(3), pages 1160-1174.
    16. Mai, Nhat Chi, 2015. "Efficiency of the banking system in Vietnam under financial liberalization," OSF Preprints qsf6d, Center for Open Science.
    17. Hallerberg, Mark & Scartascini, Carlos, 2011. "Economic Crisis and Fiscal Reforms in Latin America," IDB Publications (Working Papers) 3092, Inter-American Development Bank.
    18. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    19. Puspa Amri & Apanard P. Angkinand & Clas Wihlborg, 2011. "International comparisons of bank regulation, liberalization, and banking crises," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 3(4), pages 322-339, November.
    20. Barbara Meller, 2013. "The two-sided effect of financial globalization on output volatility," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(3), pages 477-504, September.
    21. Trabelsi, Mohamed & Cherif, Mondher, 2017. "Capital account liberalization and financial deepening: Does the private sector matter?," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 141-151.
    22. David Hillier & Tiago Loncan, 2019. "Stock market integration, cost of equity capital, and corporate investment: Evidence from Brazil," European Financial Management, European Financial Management Association, vol. 25(1), pages 181-206, January.
    23. Agudelo, Diego A. & Múnera, Daimer J., 2023. "Who are the vectors of contagion? Evidence from emerging markets," International Review of Financial Analysis, Elsevier, vol. 87(C).
    24. Jesus Ferreiro & Eugenia Correa & Carmen Gomez, 2008. "Has Capital Account Liberalization in Latin American Countries Led to Higher and More Stable Capital Inflows?," International Journal of Political Economy, Taylor & Francis Journals, vol. 37(4), pages 31-63.
    25. Mirakhor, Abbas, 2007. "Islamic Finance and Globalization: A Convergence?," MPRA Paper 56026, University Library of Munich, Germany.
    26. Haddad, Mona E. & Lim, Jamus Jerome & Saborowski, Christian, 2010. "Trade openness reduces growth volatility when countries are well diversified," Policy Research Working Paper Series 5222, The World Bank.
    27. Perugini, Cristiano & Hölscher, Jens & Collie, Simon, 2013. "Inequality, credit expansion and financial crises," MPRA Paper 51336, University Library of Munich, Germany.
    28. Sudarat Ananchotikul & Barry Eichengreen, 2009. "Corporate Governance Reform in Emerging Markets: How Much, Why, and with What Effects?," NBER Chapters, in: Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR, National Bureau of Economic Research, Inc.
    29. Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Revue d’économie du développement, De Boeck Université, vol. 22(3), pages 27-68.
    30. Ms. Valerie Cerra & Ms. Sweta Chaman Saxena, 2017. "Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications," IMF Working Papers 2017/250, International Monetary Fund.
    31. Lee, Chien-Chiang & Lin, Chun-Wei & Zeng, Jhih-Hong, 2016. "Financial liberalization, insurance market, and the likelihood of financial crises," Journal of International Money and Finance, Elsevier, vol. 62(C), pages 25-51.
    32. Feldmann, Horst, 2012. "Banking deregulation around the world, 1970s to 2000s: The impact on unemployment," International Review of Economics & Finance, Elsevier, vol. 24(C), pages 26-42.
    33. Hamdaoui, Mekki, 2017. "Financial liberalization and systemic banking crises: A meta-analysis," International Economics, Elsevier, vol. 152(C), pages 26-54.
    34. Liew, Ping-Xin & Lim, Kian-Ping & Goh, Kim-Leng, 2018. "Foreign equity flows: Boon or bane to the liquidity of Malaysian stock market?," The North American Journal of Economics and Finance, Elsevier, vol. 45(C), pages 161-181.
    35. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126.
    36. Maimbo, Samuel Munzele & Melecky, Martin, 2014. "Financial sector policy in practice : benchmarking financial sector strategies around the world," Policy Research Working Paper Series 6746, The World Bank.
    37. Gagari Chakrabarti, 2022. "Openness and Potential Fragility of the Global Banking System," India Studies in Business and Economics, in: Supravat Bagli & Gagari Chakrabarti & Prithviraj Guha (ed.), Persistent and Emerging Challenges to Development, chapter 0, pages 351-370, Springer.
    38. Peter Haiss & Hannes Juvan & Bernhard Mahlberg, 2016. "The Impact of Financial Crises on the Finance–Growth Relationship: A European Perspective," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 45(3), pages 423-444, November.
    39. Spyridon Boikos & Theodore Panagiotidis & Georgios Voucharas, 2021. "Financial Development, Reforms and Growth," Bank of Lithuania Working Paper Series 98, Bank of Lithuania.
    40. Aida Caldera Sánchez & Alain de Serres & Filippo Gori & Mikkel Hermansen & Oliver Röhn, 2017. "Strengthening economic resilience: Insights from the post-1970 record of severe recessions and financial crises," OECD Economic Policy Papers 20, OECD Publishing.
    41. Uchechukwu Jarrett & Hamid Mohtadi, 2023. "Understanding the globalization‐crisis linkage: A “differenced” approach," Review of International Economics, Wiley Blackwell, vol. 31(5), pages 1616-1640, November.
    42. Zhao, Yuyang & Xiang, Cheng & Cai, Wenwu, 2021. "Stock market liberalization and institutional herding: Evidence from the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connects," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    43. Kauko, Karlo, 2014. "How to foresee banking crises? A survey of the empirical literature," Economic Systems, Elsevier, vol. 38(3), pages 289-308.
    44. Galindo, Arturo & Izquierdo, Alejandro & Rojas-Suárez, Liliana, 2010. "Financial Integration and Foreign Banks in Latin America: How Do They Impact the Transmission of External Financial Shocks?," IDB Publications (Working Papers) 1689, Inter-American Development Bank.
    45. Mr. Kenichi Ueda & Robert M. Townsend, 2007. "Welfare Gains from Financial Liberalization," IMF Working Papers 2007/154, International Monetary Fund.
    46. Ahmed, Abdullahi D., 2013. "Effects of financial liberalization on financial market development and economic performance of the SSA region: An empirical assessment," Economic Modelling, Elsevier, vol. 30(C), pages 261-273.
    47. Mekki Hamdaoui & Saif Eddine Ayouni & Samir Maktouf, 2022. "Capital Account Liberalization, Political Stability, and Economic Growth," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(1), pages 723-772, March.
    48. Xiuping Hua & Anders C. Johansson & Xun Wang, 2017. "National and regional financial openness in China," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 15(2), pages 127-140, April.
    49. Mekki Hamdaoui, 2017. "RETRACTED ARTICLE: Liberalization, Regulatory Delays and Vulnerability to Systemic Banking Crisis," International Economic Journal, Taylor & Francis Journals, vol. 31(4), pages 490-534, October.
    50. Thorsten Beck & Tao Chen & Chen Lin & Frank M. Song, 2012. "Financial Innovation: The Bright and the Dark Sides," Working Papers 052012, Hong Kong Institute for Monetary Research.
    51. Chris Meissner & Michael Bordo & David Stuckler, 2009. "Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View," Working Papers 291, University of California, Davis, Department of Economics.
    52. Estrada, Gemma & Erce, Aitor & Park, Donghyun & Rojas , Juan, 2018. "Skewed Credit and Growth Dynamics after the Global Financial Crisis," ADB Economics Working Paper Series 562, Asian Development Bank.
    53. Aida Caldera Sánchez & Filippo Gori, 2016. "Can Reforms Promoting Growth Increase Financial Fragility?: An Empirical Assessment," OECD Economics Department Working Papers 1340, OECD Publishing.
    54. Mansour Ishrakieh, Layal & Dagher, Leila & El Hariri, Sadika, 2018. "The Institute of Financial Economics Financial Stress Index (IFEFSI) for Lebanon," MPRA Paper 116054, University Library of Munich, Germany.
    55. Konstantinos Loizos, 2018. "The Financial Repression†Liberalization Debate: Taking Stock, Looking For A Synthesis," Journal of Economic Surveys, Wiley Blackwell, vol. 32(2), pages 440-468, April.
    56. Rachel Cho & Rodolphe Desbordes & Markus Eberhardt, 2022. "The causal effects of the darker side of financial development," Discussion Papers 2022-04, University of Nottingham, GEP.
    57. Valentin F. Lang & Ms. Marina Mendes Tavares, 2018. "The Distribution of Gains from Globalization," IMF Working Papers 2018/054, International Monetary Fund.
    58. Beck, T.H.L., 2011. "The Role of Finance in Economic Development : Benefits, Risks, and Politics," Other publications TiSEM f9c81fe6-f2cd-4fa7-b598-e, Tilburg University, School of Economics and Management.
    59. Hsinrong P. WEI, 2014. "Does Financial Openness Affect Economic Growth in Asian Economies? A Case Study in Selected Asian Economies, 1980-2010," Journal of Economics and Political Economy, KSP Journals, vol. 1(2), pages 253-301, December.
    60. Yilmaz Bayar, 2016. "Impact of Openness and Economic Freedom on Economic Growth in the Transition Economies of the European Union," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 14(1), pages 7-19.
    61. Agnello, Luca & Castro, Vitor & Jalles, João Tovar & Sousa, Ricardo M., 2015. "What determines the likelihood of structural reforms?," European Journal of Political Economy, Elsevier, vol. 37(C), pages 129-145.
    62. Bordo, Michael D. & Cavallo, Alberto F. & Meissner, Christopher M., 2010. "Sudden stops: Determinants and output effects in the first era of globalization, 1880-1913," Journal of Development Economics, Elsevier, vol. 91(2), pages 227-241, March.
    63. Makram El-Shagi, 2012. "Protect and survive? Did capital controls help shield emerging markets from the crisis?," Economics Bulletin, AccessEcon, vol. 32(1), pages 1-6.
    64. Nahed Zghidi & Zouheir Abida, 2014. "Financial Development, Trade Openness and Economic Growth in North African Countries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 17(53), pages 91-120, September.
    65. Munasib Abdul & Roy Devesh & Chen Xing, 2014. "Financial Reforms and International Trade," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 14(4), pages 1237-1281, October.
    66. Zorobabel Bicaba & Zuzana Brixiova & Mthuli Ncube, 2015. "Working Paper - 217 - Capital Account Policies, IMF Programs and Growth in Developing Regions," Working Paper Series 2155, African Development Bank.
    67. Layal MansourIshrakieh & Leila Dagher & Sadika El Hariri, 2020. "A financial stress index for a highly dollarized developing country : The case of Lebanon," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 20(2), pages 43-52.
    68. Pels, 2010. "Capital Inflows and Investment," The Institute for International Integration Studies Discussion Paper Series iiisdp330, IIIS.
    69. Ekkehard Ernst, 2019. "Finance and Jobs: How Financial Markets and Prudential Regulation Shape Unemployment Dynamics," JRFM, MDPI, vol. 12(1), pages 1-30, January.
    70. Ramzi Farhani & Ghrissi Mhamdi & Abdelkader Aguir & Mounir Smida, 2015. "Effect of Financial Liberalization on the Probability of Occurrence of Banking Crises," Post-Print halshs-01138430, HAL.
    71. Honig, Adam, 2008. "Do improvements in government quality necessarily reduce the incidence of costly sudden stops?," Journal of Banking & Finance, Elsevier, vol. 32(3), pages 360-373, March.
    72. Dong, Gang Nathan & Gu, Ming & He, Hua, 2020. "Invisible hand and helping hand: Private placement of public equity in China," Journal of Corporate Finance, Elsevier, vol. 61(C).
    73. Aymen Ben Rejeb & Adel Boughrara, 2015. "Financial integration in emerging market economies: Effects on volatility transmission and contagion," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 15(3), pages 161-179, September.
    74. Iancu, Aurel, 2011. "Financial System Fragility Models," Working Papers of National Institute for Economic Research 110211, Institutul National de Cercetari Economice (INCE).
    75. Beck, Thorsten, 2010. "Regulatory Reform After the Crisis: Opportunities and Pitfalls," CEPR Discussion Papers 7733, C.E.P.R. Discussion Papers.
    76. Vithessonthi, Chaiporn, 2014. "Financial markets development and bank risk: Experience from Thailand during 1990–2012," Journal of Multinational Financial Management, Elsevier, vol. 27(C), pages 67-88.
    77. Mr. Etibar Jafarov & Mr. Rodolfo Maino & Mr. Marco Pani, 2019. "Financial Repression is Knocking at the Door, Again," IMF Working Papers 2019/211, International Monetary Fund.
    78. Ross P. Buckley & Douglas W. Arner & Michael Panton, 2014. "Financial innovation and development in East Asia: balancing risks and opportunities," Chapters, in: Iwan J. Azis & Hyun S. Shin (ed.), Global Shock, Risks, and Asian Financial Reform, chapter 7, pages 246-283, Edward Elgar Publishing.
    79. Jingzhu Chen & Yuemei Ji, 2022. "Is Finance Good for Growth? New Evidence from China," CESifo Working Paper Series 9882, CESifo.
    80. Joyce, Joseph P. & Nabar, Malhar, 2009. "Sudden stops, banking crises and investment collapses in emerging markets," Journal of Development Economics, Elsevier, vol. 90(2), pages 314-322, November.
    81. Huang, Yiping & Ji, Yang, 2017. "How will financial liberalization change the Chinese economy? Lessons from middle-income countries," Journal of Asian Economics, Elsevier, vol. 50(C), pages 27-45.
    82. Beck, Thorsten, 2008. "Bank competition and financial stability : friends or foes ?," Policy Research Working Paper Series 4656, The World Bank.
    83. Andrés Mauricio Vargas P., 2008. "Flujos de capitales, restricciones de liquidez y paradas súbitas: lecciones de países emergentes," Coyuntura Económica, Fedesarrollo, December.
    84. Shahid Ebrahim, M. & Hussain, Sikandar, 2010. "Financial development and asset valuation: The special case of real estate," Journal of Banking & Finance, Elsevier, vol. 34(1), pages 150-162, January.
    85. Sumei Luo & Yuxi Zhang & Guangyou Zhou, 2018. "Financial Structure and Financing Constraints: Evidence on Small- and Medium-Sized Enterprises in China," Sustainability, MDPI, vol. 10(6), pages 1-20, May.
    86. Abida Zouheir & Imen Mohamed Sghaier, 2014. "Remittances, Financial Development and Economic Growth: The Case of North African Countries," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 17(51), pages 137-170, March.
    87. Persakis, Anthony & Iatridis, George Emmanuel, 2015. "Cost of capital, audit and earnings quality under financial crisis: A global empirical investigation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 38(C), pages 3-24.
    88. Huang, Chai Liang & Chang, Yu Ching, 2022. "Growth impact of equity market crises: A global perspective," International Review of Economics & Finance, Elsevier, vol. 78(C), pages 153-176.
    89. Filippo Gori & Etienne Lepers & Caroline Mehigan, 2024. "Capital flow deflection under the magnifying glass," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3758-3778, July.
    90. Saief Eddine, Ayouni & Fakhri, Issaoui & Salem, Brahim, 2014. "Financial liberalization, Foreign Direct investment (FDI) and Economic Growth: A Panel Dynamic Data Validation," MPRA Paper 56386, University Library of Munich, Germany.
    91. Rodriguez, Cesar M., 2017. "The growth effects of financial openness and exchange rates," International Review of Economics & Finance, Elsevier, vol. 48(C), pages 492-512.
    92. Abdullahi D. Ahmed, 2010. "Financial liberalization, financial development and growth linkages in Sub‐Saharan African countries," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 27(4), pages 314-339, October.
    93. Misati, Roseline Nyakerario & Nyamongo, Esman Morekwa, 2012. "Financial liberalization, financial fragility and economic growth in Sub-Saharan Africa," Journal of Financial Stability, Elsevier, vol. 8(3), pages 150-160.
    94. Leo F. Goodstadt, 2009. "The Global Crisis: Why Regulators Resist Reforms," Working Papers 322009, Hong Kong Institute for Monetary Research.
    95. Fabrizio Coricelli & Zorobabel Bicaba, 2015. "Learning to open up: Capital account liberalizations in the post-Bretton Woods era," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01267264, HAL.
    96. Aida Kammoun & Abdelwahed Trabelsi & Chokri Mamoghli, 2011. "Financial Liberalisation and Financial Market Development: The Case of Tunisia," Review of Economics & Finance, Better Advances Press, Canada, vol. 1, pages 57-70, November.
    97. Ben Rejeb, Aymen & Boughrara, Adel, 2013. "Financial liberalization and stock markets efficiency: New evidence from emerging economies," Emerging Markets Review, Elsevier, vol. 17(C), pages 186-208.
    98. Giovanni Calice & Yong Kyu Gam, 2023. "US National Banks and Local Economic Fragility," Journal of Financial Services Research, Springer;Western Finance Association, vol. 63(3), pages 313-338, June.
    99. Wei, Hsinrong P., 2014. "Does Financial Openness Affect Economic Growth in Asian Economies? A Case Study in Selected Asian Economies, 1980-2010," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 1(2), pages 254-301.
    100. Andreas Steiner, 2010. "Contagious Policies: An Analysis of Spatial Interactions Among Countries’ Capital Account Policies," IEER Working Papers 80, Institute of Empirical Economic Research, Osnabrueck University.
    101. Jac Heckelman & Sandeep Mazumder, 2013. "Are we there yet? On the convergence of financial reforms," Economics of Governance, Springer, vol. 14(4), pages 385-409, November.
    102. Braun, Matías & Marcet, Francisco & Raddatz, Claudio, 2024. "The good, the bad, and the not-so-ugly of credit booms?: capital allocation and financial constraints," Journal of Banking & Finance, Elsevier, vol. 161(C).
    103. Mekki Hamdaoui & Samir Maktouf, 2019. "Overall effects of financial liberalization: financial crisis versus economic growth," International Review of Applied Economics, Taylor & Francis Journals, vol. 33(4), pages 568-595, July.
    104. Erler, Alexander & Bauer, Christian & Herz, Bernhard, 2014. "Defending against speculative attacks – It is risky, but it can pay off," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 309-330.
    105. Chen, Pei-Fen & Lin, Chun-Wei & Lee, Chien-Chiang, 2019. "Financial crises, globalization, and insurer performance: Some international evidence," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 835-856.
    106. Bicaba, Zorobabel & Brixiova Schwidrowski, Zuzana & Ncube, Mthuli, 2015. "Capital Account Policies, IMF Programs and Growth in Developing Regions," IZA Discussion Papers 8774, Institute of Labor Economics (IZA).
    107. Basma Majerbi & Houssem Rachdi, 2014. "Systemic Banking Crises, Financial Liberalization and Governance," Multinational Finance Journal, Multinational Finance Journal, vol. 18(3-4), pages 281-336, September.
    108. Pasali, Selahattin Selsah, 2013. "Where is the cheese ? synthesizing a giant literature on causes and consequences of financial sector development," Policy Research Working Paper Series 6655, The World Bank.
    109. Campos, Nauro F. & De Grauwe, Paul & Ji, Yuemei, 2023. "Structural reforms and economic performance: the experience of advanced economies," LSE Research Online Documents on Economics 120870, London School of Economics and Political Science, LSE Library.
    110. Ali, Amjad, 2022. "Financial Liberalization, Institutional Quality and Economic Growth Nexus: Panel Analysis of African Countries," MPRA Paper 116329, University Library of Munich, Germany, revised 2022.
    111. Inkoo Lee & Jonghyup Shin, 2007. "Financial Liberalisation, Crises, and Economic Growth," Finance Working Papers 22030, East Asian Bureau of Economic Research.
    112. Sayyed Mahdi Ziaei, 2017. "Effects of Financial Soundness and Openness on Financial Development," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 20(04), pages 1-14, December.
    113. Abdul Rahman & Muhammad Arshad Khan & Lanouar Charfeddine, 2020. "Does Financial Sector Promote Economic Growth in Pakistan? Empirical Evidences From Markov Switching Model," SAGE Open, , vol. 10(4), pages 21582440209, October.
    114. Zouheir Abida & Imen Mohamed Sghaier & Nahed Zghidi, 2015. "Financial Development and Economic Growth: Evidence from North African Countries," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 17-33, April.
    115. Aymen Ben Rejeb, 2013. "Volatility spillovers and contagion: an empirical analysis of structural changes in emerging market volatility," Economics Bulletin, AccessEcon, vol. 33(1), pages 56-71.
    116. Cavallo, Eduardo A. & Serebrisky, Tomás & Frisancho, Verónica & Karver, Jonathan & Powell, Andrew & Margot, Diego & Suárez-Alemán, Ancor & Fernández-Arias, Eduardo & Marzani, Matías & Berstein, Solang, 2016. "Saving for Development: How Latin America and the Caribbean Can Save More and Better," IDB Publications (Books), Inter-American Development Bank, number 7677, November.
    117. Nolungelo Cele & Kapingura FM, 2018. "Financial Sector Liberalization and Financial Instability: Case of Selected Southern African Development Community Member Countries," Journal of Economics and Behavioral Studies, AMH International, vol. 10(6), pages 42-49.
    118. Eng, Yoke-Kee & Wong, Chin-Yoong, 2016. "Asymmetric growth effect of capital flows: Evidence and quantitative theory," Economic Systems, Elsevier, vol. 40(1), pages 64-81.
    119. Narayan, Seema & Doytch, Nadia & Nguyen, Tri Tung & Kluegel, Karl, 2016. "Trade of goods and services and risk sharing ability in international equity markets: Are these substitutes or complements?," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 485-503.
    120. Iancu, Aurel, 2011. "Models of Financial System Fragility," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 230-256, March.
    121. Mansour-Ichrakieh, Layal & Zeaiter, Hussein, 2019. "The role of geopolitical risks on the Turkish economy opportunity or threat," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    122. Hichem Saidi, 2020. "Threshold effect of institutions on finance-growth nexus in MENA region: New evidence from panel simultaneous equation model," Economics Bulletin, AccessEcon, vol. 40(1), pages 699-715.
    123. Rashid Ameer, 2013. "Financial liberalization and firms’ capital structure adjustments evidence from Southeast Asia and South America," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(1), pages 1-32, January.
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    Cited by:

    1. Cavallaro, Eleonora & Maggi, Bernardo & Mulino, Marcella, 2011. "The macrodynamics of financial fragility within a hard peg arrangement," Economic Modelling, Elsevier, vol. 28(5), pages 2164-2173, September.
    2. Dobromil Serwa, 2008. "Larger crises cost more: impact of banking sector instability on output growth," Working Papers 25, Department of Applied Econometrics, Warsaw School of Economics.
    3. Mr. Paolo Mauro & Mr. Torbjorn I. Becker, 2006. "Output Drops and the Shocks That Matter," IMF Working Papers 2006/172, International Monetary Fund.
    4. Beck, T.H.L., 2006. "Creating an efficient financial system : Challenges in a global economy," Other publications TiSEM fa839175-173f-4972-a0e7-e, Tilburg University, School of Economics and Management.
    5. Ahmet Atil Asici, 2009. "Exchange Rate Regime Choice and Currency Crises," Working Papers 498, Economic Research Forum, revised Aug 2009.
    6. Lane, Philip & Schmukler, Sergio, 2006. "The International Financial Integration of China and India," CEPR Discussion Papers 5852, C.E.P.R. Discussion Papers.
    7. Geert Bekaert & Campbell R. Harvey & Christian Lundblad, 2004. "Growth Volatility and Financial Liberalization," NBER Working Papers 10560, National Bureau of Economic Research, Inc.
    8. Ahmet Atil Asici, 2007. "Parametric and Non-parametric Approaches to Exits from Fixed Exchange Rate Regimes," IHEID Working Papers 14-2007, Economics Section, The Graduate Institute of International Studies.
    9. William R. Cline, 2010. "Financial Globalization, Economic Growth, and the Crisis of 2007-09," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 499, April.

  3. Romain Ranciere & Aaron Tornell & Frank Westermann, 2005. "Systemic Crises and Growth," CESifo Working Paper Series 1451, CESifo.

    Cited by:

    1. Fabio Castiglionesi & Fabio Feriozzi & Guido Lorenzoni, 2019. "Financial Integration and Liquidity Crises," Management Science, INFORMS, vol. 65(3), pages 955-975, March.
    2. Beck, Roland & Berganza, Juan Carlos & Brüggemann, Axel & Cezar, Rafael & Eijking, Carlijn & Eller, Markus & Fuentes, Alberto & Alves, Joel Graça & Kreitz, Lilian & Marsilli, Clement & Moder, Isabella, 2023. "Recent advances in the literature on capital flow management," Occasional Paper Series 317, European Central Bank.
    3. Chen, Guojin & Liu, Yanzhen & Zhang, Yu, 2020. "Can systemic risk measures predict economic shocks? Evidence from China," China Economic Review, Elsevier, vol. 64(C).
    4. Michał Brzozowski, 2012. "Wpływ wahań produkcji i wielkości kredytu na wartość dodaną w polskim przemyśle przetwórczym," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 57-77.
    5. Philip R. Lane IIIS, Trinity College Dublin and CEPR, 2009. "Innovation and Financial Globalisation," The Institute for International Integration Studies Discussion Paper Series iiisdp299, IIIS.
    6. Farhi, Emmanuel & Tirole, Jean, 2009. "Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts," TSE Working Papers 09-052, Toulouse School of Economics (TSE), revised Oct 2010.
    7. Norman Loayza & Amine Ouazad & Romain Ranciere, 2017. "Financial Development, Growth, and Crisis: Is There a Trade-Off?," Working Papers 114, Peruvian Economic Association.
    8. Alessandra Bonfiglioli, 2007. "Financial Integration, Productivity and Capital Accumulation," Working Papers 326, Barcelona School of Economics.
    9. Gary Gorton & Guillermo Ordo?ez, 2014. "Collateral Crises," American Economic Review, American Economic Association, vol. 104(2), pages 343-378, February.
    10. Tanna, Sailesh & Luo, Yun & De Vita, Glauco, 2017. "What is the net effect of financial liberalization on bank productivity? A decomposition analysis of bank total factor productivity growth," Journal of Financial Stability, Elsevier, vol. 30(C), pages 67-78.
    11. Cavallaro, Eleonora & Maggi, Bernardo & Mulino, Marcella, 2011. "The macrodynamics of financial fragility within a hard peg arrangement," Economic Modelling, Elsevier, vol. 28(5), pages 2164-2173, September.
    12. Alessi, Lucia & Detken, Carsten, 2011. "Quasi real time early warning indicators for costly asset price boom/bust cycles: A role for global liquidity," European Journal of Political Economy, Elsevier, vol. 27(3), pages 520-533, September.
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    17. Pierre-Olivier Gourinchas & Thomas Philippon & Dimitri Vayanos, 2016. "The Analytics of the Greek Crisis," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 100, Hellenic Observatory, LSE.
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    36. Beck, T.H.L., 2006. "Creating an efficient financial system : Challenges in a global economy," Other publications TiSEM fa839175-173f-4972-a0e7-e, Tilburg University, School of Economics and Management.
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    44. Ahmet Atil Asici, 2009. "Exchange Rate Regime Choice and Currency Crises," Working Papers 498, Economic Research Forum, revised Aug 2009.
    45. Serdar Kabaca, 2011. "Labor Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing," Koç University-TUSIAD Economic Research Forum Working Papers 1122, Koc University-TUSIAD Economic Research Forum.
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    188. Buchholz, Manuel & Tonzer, Lena & Berner, Julian, 2016. "Asymmetric Investment Responses to Firm-Specific Uncertainty," VfS Annual Conference 2016 (Augsburg): Demographic Change 145563, Verein für Socialpolitik / German Economic Association.
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  4. Romain Ranciere & Aaron Tornell & Frank Westermann, 2004. "Crises and Growth: A Re-Evaluation," CESifo Working Paper Series 1160, CESifo.

    Cited by:

    1. Aizenman, Joshua, 2007. "International reserves management and the current account," Santa Cruz Department of Economics, Working Paper Series qt22q271t2, Department of Economics, UC Santa Cruz.
    2. Aaron Tornell & Frank Westermann & Lorenza Martinez, 2004. "The Positive Link Between Financial Liberalization, Growth and Crises," NBER Working Papers 10293, National Bureau of Economic Research, Inc.
    3. M. Ayhan Kose & Eswar S. Prasad & Marco E. Terrones, 2004. "How do trade and financial integration affect the relationship between growth and volatility?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    4. Yannick Kalantzis, 2005. "Financial fragility in emerging market countries: Firm balance sheets and the productive structure," PSE Working Papers halshs-00590808, HAL.
    5. Lavinia Cristescu, 2009. "The Effect of Capital Market Liberalization in Eastern Europe: Economic Growth or Financial Crisis," Advances in Economic and Financial Research - DOFIN Working Paper Series 30, Bucharest University of Economics, Center for Advanced Research in Finance and Banking - CARFIB.
    6. Franklin Allen & Jun & Chenying Zhang & Mengxin Zhao, 2012. "China's Financial System: Opportunities and Challenges," NBER Chapters, in: Capitalizing China, pages 63-143, National Bureau of Economic Research, Inc.
    7. Allen, Franklin & Zhang, Chenying & Qian, Jun & Zhao, Mengxin, 2011. "China's Financial System: Opportunities and Challenges," Working Papers 11-54, University of Pennsylvania, Wharton School, Weiss Center.
    8. Guido Lorenzoni, 2007. "Inefficient Credit Booms," NBER Working Papers 13639, National Bureau of Economic Research, Inc.
    9. Cole, Rebel A. & Moshirian, Fariborz & Wu, Qiongbing, 2008. "Bank stock returns and economic growth," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 995-1007, June.
    10. Imran, Kashif & Nishat, Mohammed, 2013. "Determinants of bank credit in Pakistan: A supply side approach," Economic Modelling, Elsevier, vol. 35(C), pages 384-390.
    11. Ahmet Faruk Aysan, 2006. "The Effects of Volatility on Growth and Financial Development through Capital Market Imperfections," Working Papers 2006/12, Bogazici University, Department of Economics.
    12. Aaron Tornell, 2005. "Systemic Crises and Growth (September 2006)," UCLA Economics Online Papers 359, UCLA Department of Economics.
    13. Romain Ranciere & Aaron Tornell & Frank Westermann, 2006. "Decomposing the Effects of Financial Liberalization: Crises vs. Growth," NBER Working Papers 12806, National Bureau of Economic Research, Inc.
    14. Marcin Kolasa, 2021. "Equilibrium Foreign Currency Mortgages," IMF Working Papers 2021/084, International Monetary Fund.
    15. Toni Ahnert & Christoph Bertsch, 2022. "A Wake-Up Call Theory of Contagion [Asymmetric business cycles: theory and time-series evidence]," Review of Finance, European Finance Association, vol. 26(4), pages 829-854.
    16. Romain Rancière & Aaron Tornell & Frank Westermann, 2008. "Systemic Crises and Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(1), pages 359-406.
    17. Aaron Tornell, "undated". "Decomposing the Effects of Financial Liberalization: Crises vs. Growth (March 2006)," UCLA Economics Online Papers 408, UCLA Department of Economics.
    18. Blejer, Mario I., 2006. "Economic growth and the stability and efficiency of the financial sector," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3429-3432, December.
    19. Fratzscher, Marcel & Bussière, Matthieu & Koeniger, Winfried, 2004. "Currency mismatch, uncertainty and debt maturity structure," Working Paper Series 409, European Central Bank.
    20. Winfried Koeniger & Matthieu Bussiere & Marcel Fratzscher, 2004. "Currency Mismatch, Uncertainty and Debt Structure," Econometric Society 2004 North American Summer Meetings 181, Econometric Society.
    21. Agustín S. Bénétrix and Sébastien Wälti, 2008. "Indicators of regional financial integration," The Institute for International Integration Studies Discussion Paper Series iiisdp243, IIIS.
    22. Alimi, Nabil, 2016. "Volatility and growth in developing countries: An asymmetric effect," The Journal of Economic Asymmetries, Elsevier, vol. 14(PB), pages 179-188.
    23. Pathak, Parag A. & Tirole, Jean, 2006. "Speculative Attacks and Risk Management," IDEI Working Papers 438, Institut d'Économie Industrielle (IDEI), Toulouse.
    24. Iancu, Aurel, 2011. "Financial System Fragility Models," Working Papers of National Institute for Economic Research 110211, Institutul National de Cercetari Economice (INCE).
    25. Mr. Tito Cordella & Mr. Eduardo Levy Yeyati, 2005. "A (New) Country Insurance Facility," IMF Working Papers 2005/023, International Monetary Fund.
    26. Aaron Tornell & Frank Westermann & Lorenza Martinez, 2003. "Liberalization, Growth, and Financial Crises: Lessons from Mexico and the Developing World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 1-112.
    27. Yaroslava Babych, 2011. "Financial Crises and Economic Growth - A Long Run Perspective," Working Papers 003-11, International School of Economics at TSU, Tbilisi, Republic of Georgia.
    28. Chee-Keong Choong, 2012. "Does domestic financial development enhance the linkages between foreign direct investment and economic growth?," Empirical Economics, Springer, vol. 42(3), pages 819-834, June.
    29. Iustina Alina BOITAN & Nicolae DARDAC, 2010. "Banking Crises’ Triggering Factors – Lessons from Past Experience," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-33.
    30. Mr. Ashoka Mody, 2004. "What is An Emerging Market?," IMF Working Papers 2004/177, International Monetary Fund.
    31. Mr. Romain Ranciere & Mr. Olivier D Jeanne, 2006. "The Optimal Level of International Reserves for Emerging Market Countries: Formulas and Applications," IMF Working Papers 2006/229, International Monetary Fund.
    32. Wayne Nafziger, 2006. "From Seers to Sen: The Meaning of Economic Development," WIDER Working Paper Series RP2006-20, World Institute for Development Economic Research (UNU-WIDER).
    33. Agustinus, Prasetyantoko & Luhur, Fajar-Marta, 2008. "Indonesia’s Ponzi Economy: Does Financial Crisis Give a Lesson," MPRA Paper 6776, University Library of Munich, Germany.
    34. Evan Kraft, 2006. "How Competitive Is Croatia's Banking System?," Working Papers 14, The Croatian National Bank, Croatia.
    35. Khattab Ahmed & Mpabe Bodjongo Mathieu Juliot & Ihadiyan Abid, 2015. "Financial Development, Financial Instability and Economic Growth: The Case of Maghreb Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 5(4), pages 1043-1054.
    36. Gunther Schnabl, 2007. "Exchange Rate Volatility and Growth in Emerging Europe and East Asia," CESifo Working Paper Series 2023, CESifo.
    37. Aaron Tornell, 2003. "Liberalization, Growth and Financial Crises (October 2003)," UCLA Economics Online Papers 276, UCLA Department of Economics.
    38. Iancu, Aurel, 2011. "Models of Financial System Fragility," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 230-256, March.
    39. Andres Blancas, 2007. "Financial Fragility Dynamics in Developing Countries, the Mexican Case," EcoMod2007 23900008, EcoMod.

  5. Aaron Tornell & Frank Westermann & Lorenza Martínez, 2004. "NAFTA and Mexico's Economic Performance," CESifo Working Paper Series 1155, CESifo.

    Cited by:

    1. Aghion, Edouard, 2011. "NAFTA and its Impact on Mexico," MPRA Paper 36529, University Library of Munich, Germany.
    2. Javier Santiso, 2007. "Latin America's Political Economy of the Possible: Beyond Good Revolutionaries and Free-Marketeers," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262693593, December.
    3. Pablo Mejía-Reyes & Reyna Vergara-González, 2017. "Are More Severe Recessions Followed by Stronger Early Expansions of Employment in the Mexican States?," The Review of Regional Studies, Southern Regional Science Association, vol. 47(3), pages 243-269, Fall.
    4. Stephanou, Constantinos & Munoz, Emanuel Salinas, 2007. "Financing of the private sector in Mexico, 2000-05 : evolution, composition, and determinants," Policy Research Working Paper Series 4264, The World Bank.
    5. Pablo Mejía-Reyes & Reyna Vergara-González, 2015. "Are more severe recessions followed by stronger recoveries? Evidence from the Mexican states employment," ERSA conference papers ersa15p1223, European Regional Science Association.

  6. Aaron Tornell & Frank Westermann & Lorenza Martínez, 2004. "The Positive Link Between Financial Liberalization, Growth, and Crises," CESifo Working Paper Series 1164, CESifo.

    Cited by:

    1. M. Ayhan Kose & Eswar S. Prasad & Marco E. Terrones, 2004. "How do trade and financial integration affect the relationship between growth and volatility?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    2. Samouel BEJI, 2007. "Financial Openness and Financial Development in the South Mediterranean Sea Countries: Institutional Approach and Calculation ofm Development Thresholds," European Research Studies Journal, European Research Studies Journal, vol. 0(3-4), pages 107-107.
    3. Norman Loayza & Amine Ouazad & Romain Ranciere, 2017. "Financial Development, Growth, and Crisis: Is There a Trade-Off?," Working Papers 114, Peruvian Economic Association.
    4. M. Ayhan Kose & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," NBER Working Papers 12484, National Bureau of Economic Research, Inc.
    5. Frederic Mishkin, 2005. "Is Financial Globalization Beneficial?," NBER Working Papers 11891, National Bureau of Economic Research, Inc.
    6. Betty C. Daniel & John Bailey Jones, 2001. "Financial liberalization and banking crises in emerging economies," Pacific Basin Working Paper Series 2001-03, Federal Reserve Bank of San Francisco.
    7. Thomas Goda, 2013. "The role of income inequality in crisis theories and in the subprime crisis," Working Papers PKWP1305, Post Keynesian Economics Society (PKES).
    8. Assaf Razin & Yona Rubinstein, 2006. "Evaluation of currency regimes: the unique role of sudden stops [‘Gravity with gravitas: A solution to the border puzzle’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 21(45), pages 120-152.
    9. Samia Nasreen & Sofia Anwar, 2020. "Financial Stability And The Role Of Economic And Financial Integration In South Asia: Evidence From Time-Series Data," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(02), pages 303-333, March.
    10. Safdari Mehdi, 2011. "The Relationship betweenFinancial Repression and Financial Depth (Case study of Iran)," Journal of Economics and Behavioral Studies, AMH International, vol. 3(3), pages 177-184.
    11. Mirakhor, Abbas, 2007. "Islamic Finance and Globalization: A Convergence?," MPRA Paper 56026, University Library of Munich, Germany.
    12. Dong-Hyeon Kim & Shu-Chin Lin & Yu-Bo Suen, 2012. "The simultaneous evolution of economic growth, financial development, and trade openness," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 21(4), pages 513-537, May.
    13. Dong, Fang, 2014. "The impact of economic openness on standard of living and income inequality in eight countries," Emerging Markets Review, Elsevier, vol. 21(C), pages 234-264.
    14. Eichacker, Nina, 2015. "Financial liberalization and the onset of financial crisis in Western European states between 1983 and 2011: An econometric investigation," The North American Journal of Economics and Finance, Elsevier, vol. 34(C), pages 323-343.
    15. Hiro Ito & Masahiro Kawai, 2014. "Determinants of the Trilemma Policy Combination," Macroeconomics Working Papers 23967, East Asian Bureau of Economic Research.
    16. Helmi Hamdi & Nabila Boukef Jlassi, 2014. "Financial liberalization, disaggregated capital flows and banking crisis: Evidence from developing countries," Post-Print halshs-01902770, HAL.
    17. Frederic S. Mishkin, 2007. "Is Financial Globalization Beneficial?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(2‐3), pages 259-294, March.
    18. Bonfiglioli, Alessandra & Mendicino, Caterina, 2004. "Financial Liberalization, Banking Crises and Growth: Assessing the Links," SSE/EFI Working Paper Series in Economics and Finance 567, Stockholm School of Economics.
    19. Ahmed, Abdullahi D., 2013. "Effects of financial liberalization on financial market development and economic performance of the SSA region: An empirical assessment," Economic Modelling, Elsevier, vol. 30(C), pages 261-273.
    20. Enowbi Batuo & Simplice Asongu, 2017. "Linkages between financial development, financial instability, financial liberalisation and economic growth in Africa," Working Papers of the African Governance and Development Institute. 17/030, African Governance and Development Institute..
    21. Rogoff, Kenneth & Wei, Shang-Jin & Prasad, Eswar & Kose, M. Ayhan, 2009. "Financial Globalization and Economic Policies," CEPR Discussion Papers 7117, C.E.P.R. Discussion Papers.
    22. Agustinus Prasetyantoko, 2006. "Financing Constraint and Firm Investment Following a Financial Crisis in Indonesia," Post-Print halshs-00133964, HAL.
    23. Demirguc-Kunt, Asli & Kane, Edward J. & Laeven, Luc, 2006. "Determinants of deposit-insurance adoption and design," Policy Research Working Paper Series 3849, The World Bank.
    24. Massimiliano Pisani, 2011. "Financial Openness and Macroeconomic Instability in Emerging Market Economies," Open Economies Review, Springer, vol. 22(3), pages 501-532, July.
    25. Assaf Razin & Yona Rubinstein, 2005. "Evaluation of Exchange-Rate, Capital-Market, and Dollarization Regimes in the Presence of Sudden Stops," Working Papers 042005, Hong Kong Institute for Monetary Research.
    26. Jesus Munoz, 2011. "Orthodox versus Heterodox (Minskyan) Perspectives of Financial Crises: Explosion in the 1990s versus Implosion in the 2000s," Economics Working Paper Archive wp_695, Levy Economics Institute.
    27. Yuan, Shenguo & Wu, Zhouheng & Liu, Lanfeng, 2022. "The effects of financial openness and financial efficiency on Chinese macroeconomic volatilities," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    28. Batuo Enowbi, Michael & Kupukile, Mlambo, 2012. "Financial instability, financial openness and economic growth in african countries," MPRA Paper 43340, University Library of Munich, Germany.
    29. Menzie D. Chinn & Hiro Ito, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," NBER Working Papers 11370, National Bureau of Economic Research, Inc.
    30. Dilli Raj Khanal, 2007. "Services Trade in Developing Asia:A Case Study of the Banking and Insurance Sector in Nepal," Working Papers 3907, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
    31. Betty C. Daniel, 2012. "Private Sector Risk and Financial Crises in Emerging Markets," Economic Journal, Royal Economic Society, vol. 122(561), pages 825-847, June.
    32. Chun-Peng Zhang & Rong Kang & Chen Feng, 2016. "Financial Vulnerability, Capital Shocks and Economic Growth: Evidence from China (2005-2014)," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 2(1), pages 23-31.
    33. Bumann, Silke & Hermes, Niels & Lensink, Robert, 2013. "Financial liberalization and economic growth: A meta-analysis," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 255-281.
    34. Michel Beine & Elisabetta Lodigiani & Robert Vermuelen, 2010. "Remittances and Financial Openness," Development Working Papers 299, Centro Studi Luca d'Agliano, University of Milano.
    35. Assaf Razin & Yona Rubinstein, 2004. "Growth Effects of the Exchange-Rate Regime and the Capital-Account Openness in A Crisis-Prone World Market: A Nuanced View," NBER Working Papers 10555, National Bureau of Economic Research, Inc.
    36. Alessandra Bonfiglioli & Caterina Mendicino, 2005. "Financial Liberalization, Bank Crises and Growth: Assessing the links," Departmental Working Papers of Economics - University 'Roma Tre' 0044, Department of Economics - University Roma Tre.
    37. Enowbi Batuo, Michael & Mlambo, Kupukile, 2012. "Financial liberalisation, Banking Crises and Economic Growth in African Countries," MPRA Paper 41524, University Library of Munich, Germany.
    38. Horst Feldmann, 2006. "Credit Market Regulation and Labor Market Performance Around the World," Kyklos, Wiley Blackwell, vol. 59(4), pages 497-525, November.
    39. Edgar Demetrio Tovar, 2011. "Globalización financiera y sus efectos sobre el desarrollo financiero," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 29(66), pages 80-127, December.
    40. Mr. Etibar Jafarov & Mr. Rodolfo Maino & Mr. Marco Pani, 2019. "Financial Repression is Knocking at the Door, Again," IMF Working Papers 2019/211, International Monetary Fund.
    41. Campos, Nauro F. & Karanasos, Menelaos G. & Tan, Bin, 2009. "From Riches to Rags, and Back? Explaining the Growth Trajectory of Argentina since the 1890s," Proceedings of the German Development Economics Conference, Frankfurt a.M. 2009 37, Verein für Socialpolitik, Research Committee Development Economics.
    42. Kharroubi, E., 2006. "Illiquidity, Financial Development and the Growth-Volatility Relationship Illiquidity, Financial Development and the Growth-Volatility Relationship," Working papers 139, Banque de France.
    43. Moritz Cruz & Bernard Walters, 2008. "Is the accumulation of international reserves good for development?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(5), pages 665-681, September.
    44. Kim, Dong-Hyeon & Lin, Shu-Chin & Suen, Yu-Bo, 2010. "Dynamic effects of trade openness on financial development," Economic Modelling, Elsevier, vol. 27(1), pages 254-261, January.
    45. Edgar Demetrio Tovar García, 2007. "Globalización del capital y desarrollo institucional del sistema financiero," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 9(17), pages 75-107, July-Dece.
    46. Teimouri, Sheida & Zietz, Joachim, 2018. "The impact of surges in net private capital inflows on manufacturing, investment, and unemployment," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 158-170.
    47. Ito, Hiro, 2006. "Financial development and financial liberalization in Asia: Thresholds, institutions and the sequence of liberalization," The North American Journal of Economics and Finance, Elsevier, vol. 17(3), pages 303-327, December.
    48. Qazi Muhammad Adnan Hye & Shahida Wizarat, 2011. "Impact of financial liberalization on agricultural growth: a case study of Pakistan," China Agricultural Economic Review, Emerald Group Publishing Limited, vol. 3(2), pages 191-209, May.
    49. Guven, Cahit, 2016. "Financial integration: The role of tradable and non-tradable goods," Economic Modelling, Elsevier, vol. 53(C), pages 345-353.
    50. Mohamed Ilyes Gritli & Fatma Marrakchi Charfi, 2016. "Capital Account, Institutional Quality, And Economic Growth In Mena Countries: A Gmm Approach," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 11(04), pages 1-23, December.
    51. Sinem Pınar Gürel & Aykut Lenger, 2016. "The Nonlinear Analysis of External Dynamics on Economic Growth: The Case of Turkey," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 9(1), pages 57-68, April.
    52. Navaz Naghavi & Muhammad Shujaat Mubarik & Devinder Kaur, 2018. "Financial Liberalization And Stock Market Efficiency: Measuring The Threshold Effects Of Governance," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 13(04), pages 1-24, December.
    53. Mekki Hamdaoui & Samir Maktouf, 2019. "Overall effects of financial liberalization: financial crisis versus economic growth," International Review of Applied Economics, Taylor & Francis Journals, vol. 33(4), pages 568-595, July.
    54. Frederic S Mishkin, 2009. "Why We Shouldn't Turn Our Backs on Financial Globalization," IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 139-170, April.
    55. Basma Majerbi & Houssem Rachdi, 2014. "Systemic Banking Crises, Financial Liberalization and Governance," Multinational Finance Journal, Multinational Finance Journal, vol. 18(3-4), pages 281-336, September.
    56. Pasali, Selahattin Selsah, 2013. "Where is the cheese ? synthesizing a giant literature on causes and consequences of financial sector development," Policy Research Working Paper Series 6655, The World Bank.
    57. Charles Wyplosz, 2007. "Is East Asia Safe from Financial Crises?," IHEID Working Papers 02-2007, Economics Section, The Graduate Institute of International Studies.
    58. William R. Cline, 2010. "Financial Globalization, Economic Growth, and the Crisis of 2007-09," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 499, April.
    59. Thomas Goda, 2017. "A comparative review of the role of income inequality in economic crisis theories and its contribution to the financial crisis of 2007-2009," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 9(1), pages 151-174, February.
    60. Dal Colle, Alessandra, 2018. "The mechanics of commercial banking liberalization and growth," Journal of Banking & Finance, Elsevier, vol. 86(C), pages 194-203.
    61. De Gregorio, José & Loayza, Norman V., 2008. "Comments," LSE Research Online Documents on Economics 123268, London School of Economics and Political Science, LSE Library.
    62. Babajide Fowowe, 2008. "Financial Liberalization Policies and Economic Growth: Panel Data Evidence from Sub‐Saharan Africa," African Development Review, African Development Bank, vol. 20(3), pages 549-574.

  7. Aaron Tornell & Frank Westermann & Lorenzo Martinez, 2004. "Nafta and Mexico Less-than-Steller Performance," UCLA Economics Working Papers 833, UCLA Department of Economics.

    Cited by:

    1. von Furstenberg, George M., 2006. "Mexico versus Canada: Stability benefits from making common currency with USD?," The North American Journal of Economics and Finance, Elsevier, vol. 17(1), pages 65-78, March.
    2. Pratap, Sangeeta & Urrutia, Carlos, 2004. "Firm dynamics, investment and debt portfolio: balance sheet effects of the Mexican crisis of 1994," Journal of Development Economics, Elsevier, vol. 75(2), pages 535-563, December.
    3. Fuentes, Miguel & Ibarrarán, Pablo, 2009. "Firm Dynamics and Real Exchange Rate Fluctuations: Does Trade Openness Matter? Evidence from Mexico’s Manufacturing Sector," IZA Discussion Papers 4494, Institute of Labor Economics (IZA).
    4. Meza, Felipe & Urrutia, Carlos, 2011. "Financial liberalization, structural change, and real exchange rate appreciations," Journal of International Economics, Elsevier, vol. 85(2), pages 317-328.
    5. Octavio Romano Escobar Gamboa, 2013. "Foreign direct investment (FDI) determinants and spatial spillovers across Mexico's states," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 22(7), pages 993-1012, October.
    6. Escobar Gamboa, Octavio Romano, 2009. "IDE entrants, exportations et productivité manufacturière : les différentes performances des régions mexicaines," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/3850 edited by Guillochon, Bernard.
    7. Rachdi, Houssem & Hakimi, Abdelaziz & Hamdi, Helmi, 2018. "Liberalization, crisis and growth in MENA region: Do institutions matter?," Journal of Policy Modeling, Elsevier, vol. 40(4), pages 810-826.
    8. Luis Carranza & José Enrique Galdón Sánchez & Javier Gómez Biscarri, 2008. "The relationship between investment and large exchange rate depreciations in dollarized economies," Faculty Working Papers 01/08, School of Economics and Business Administration, University of Navarra.
    9. de Carvalho Filho, Irineu & Chamon, Marcos, 2011. "The myth of post-reform income stagnation: Evidence from Brazil and Mexico," MPRA Paper 28532, University Library of Munich, Germany.
    10. Kaplan, David S. & Gonzalez, Gabriel Martinez & Robertson, Raymond, 2007. "Mexican employment dynamics : evidence from matched firm-worker data," Policy Research Working Paper Series 4433, The World Bank.
    11. Robertson, Raymond, 2004. "Defining North American Economic Integration," 2004 NAAMIC Workshop I: North American Agrifood Market Integration: Current Situation and Perspectives 163856, North American Agrifood Market Integration Consortium (NAAMIC).
    12. Gordon H. Hanson, 2010. "Why Isn't Mexico Rich?," Journal of Economic Literature, American Economic Association, vol. 48(4), pages 987-1004, December.
    13. Ibarra, Carlos Alberto, 2008. "Mexico's slow growth paradox," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    14. Patrick Artus, 2006. "Intégration commerciale avec des pays émergents ayant des ressources importantes en main-d'œuvre qualifiée. Quels effets pour les pays européens ?," Revue économique, Presses de Sciences-Po, vol. 57(4), pages 673-704.
    15. Octavio Escobar, 2011. "The location pattern of FDI in Mexico after NAFTA," ERSA conference papers ersa10p804, European Regional Science Association.
    16. Tugores, Juan, 2008. "Regional integration and public policy. Evaluation of the European experience and possible implications for Latin American integration," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 4879, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    17. Stephanou, Constantinos & Munoz, Emanuel Salinas, 2007. "Financing of the private sector in Mexico, 2000-05 : evolution, composition, and determinants," Policy Research Working Paper Series 4264, The World Bank.

  8. Aaron Tornell & Frank Westermann, 2003. "The Credit Channel in Middle Income Countries," CESifo Working Paper Series 832, CESifo.

    Cited by:

    1. Leblebicioglu, AslI, 2009. "Financial integration, credit market imperfections and consumption smoothing," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 377-393, February.
    2. Aaron Tornell & Frank Westermann, 2003. "Credit Market Imperfections in Middle Income Countries," NBER Working Papers 9737, National Bureau of Economic Research, Inc.
    3. Bunda, Irina & Ca' Zorzi, Michele, 2009. "Signals from housing and lending booms," Working Paper Series 1094, European Central Bank.
    4. Hutchison, Michael M. & Noy, Ilan & Wang, Lidan, 2010. "Fiscal and monetary policies and the cost of sudden stops," Journal of International Money and Finance, Elsevier, vol. 29(6), pages 973-987, October.
    5. Balázs Égert & Ronald MacDonald, 2009. "Monetary Transmission Mechanism In Central And Eastern Europe: Surveying The Surveyable," Journal of Economic Surveys, Wiley Blackwell, vol. 23(2), pages 277-327, April.
    6. Yong Sarah Zhou, 2008. "Capital Flows and Economic Fluctuations: The Role of Commercial Banks in Transmitting Shocks," IMF Working Papers 2008/012, International Monetary Fund.
    7. Michael M. Hutchison & Ilan Noy, 2002. "Sudden stops and the Mexican wave: currency crises, capital flow reversals and output loss in emerging markets," Pacific Basin Working Paper Series 2002-03, Federal Reserve Bank of San Francisco.
    8. Flora Bellone & Patrick Musso & Lionel Nesta & Stefano Schiavo, 2008. "Financial Constraints and Firm Export Behavior," Department of Economics Working Papers 0816, Department of Economics, University of Trento, Italia.
    9. Brei, Michael & Buzaushina, Almira, 2015. "International financial shocks in emerging markets," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 51-74.
    10. Bahadir, Berrak & Gumus, Inci, 2016. "Credit decomposition and business cycles in emerging market economies," Journal of International Economics, Elsevier, vol. 103(C), pages 250-262.
    11. Fabrizio Coricelli & Balázs Égert & Ronald MacDonald, 2006. "Monetary Transmission in Central and Eastern Europe: Gliding on a Wind of Change," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 44-87.
    12. Marco Ortiz & Gerardo Herrera, 2020. "Heterogeneous Credit Constraints and Optimal Monetary Policy," Working Papers 164, Peruvian Economic Association.
    13. Massimiliano Pisani, 2011. "Financial Openness and Macroeconomic Instability in Emerging Market Economies," Open Economies Review, Springer, vol. 22(3), pages 501-532, July.
    14. Bryan Hardy, 2018. "Foreign currency borrowing, balance sheet shocks and real outcomes," BIS Working Papers 758, Bank for International Settlements.
    15. Kornkarun Cheewatrakoolpong & Somprawin Manprasert, 2012. "Trade concentration and crisis spillover: Case study of transmission of the supprime crisis to Thailand," Working Papers 11212, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
    16. Armando Silva, 2011. "Financial Constraints and Exports: Evidence from Portuguese Manufacturing Firms," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 4(3), pages 7-19, December.
    17. Detragiache, Enrica & Rajan, Raghuram & Dell'Ariccia, Giovanni, 2005. "The Real Effect of Banking Crises," CEPR Discussion Papers 5088, C.E.P.R. Discussion Papers.
    18. Sangyup Choi, 2018. "The Impact of US Financial Uncertainty Shocks on Emerging Market Economies: An International Credit Channel," Open Economies Review, Springer, vol. 29(1), pages 89-118, February.
    19. Balazs Egert & Ronald MacDonald, 2006. "Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable," CESifo Working Paper Series 1739, CESifo.
    20. Mr. Adolfo Barajas & Mr. Armando Méndez Morales, 2003. "Dollarization of Liabilities: Beyond the Usual Suspects," IMF Working Papers 2003/011, International Monetary Fund.
    21. World Bank, 2004. "Peru - Microeconomic Constraints to Growth: The Evidence from the Manufacturing Sector," World Bank Publications - Reports 14426, The World Bank Group.
    22. Berrak Bahadir & Inci Gumus, 2021. "House Prices, Collateral Effects and Sectoral Output Dynamics in Emerging Market Economies," Working Papers 2105, Florida International University, Department of Economics.
    23. Alvaro Aguirre & César Calderón, 2005. "Financial Frictions and Real Devaluations," Working Papers Central Bank of Chile 318, Central Bank of Chile.
    24. Madhavi Bokil, 2005. "Fear of Floating: An optimal discretionary monetary policy analysis," International Finance 0510002, University Library of Munich, Germany.
    25. Nicolas Magud, 2002. "Currency Mismatch, Openness and Exchange Rate Regime Choice," University of Oregon Economics Department Working Papers 2004-14, University of Oregon Economics Department, revised 01 Sep 2004.
    26. Fabrizio Coricelli & Bal??zs ??gert & Ronald MacDonald, 2006. "Monetary Transmission Mechanism in Central & Eastern Europe: Gliding on a Wind of Change," William Davidson Institute Working Papers Series wp850, William Davidson Institute at the University of Michigan.
    27. Bahadir, Berrak & Gumus, Inci, 2022. "House prices, collateral effects and sectoral output dynamics in emerging market economies," Journal of International Money and Finance, Elsevier, vol. 129(C).

  9. Aaron Tornell, 2003. "Crises and Growth: A Re-evaluation (September 2003)," UCLA Economics Online Papers 264, UCLA Department of Economics.

    Cited by:

    1. Aizenman, Joshua, 2007. "International reserves management and the current account," Santa Cruz Department of Economics, Working Paper Series qt22q271t2, Department of Economics, UC Santa Cruz.
    2. M. Ayhan Kose & Eswar S. Prasad & Marco E. Terrones, 2004. "How do trade and financial integration affect the relationship between growth and volatility?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    3. Yannick Kalantzis, 2005. "Financial fragility in emerging market countries: Firm balance sheets and the productive structure," PSE Working Papers halshs-00590808, HAL.
    4. Cole, Rebel A. & Moshirian, Fariborz & Wu, Qiongbing, 2008. "Bank stock returns and economic growth," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 995-1007, June.
    5. Imran, Kashif & Nishat, Mohammed, 2013. "Determinants of bank credit in Pakistan: A supply side approach," Economic Modelling, Elsevier, vol. 35(C), pages 384-390.
    6. Romain Ranciere & Aaron Tornell & Frank Westermann, 2006. "Decomposing the Effects of Financial Liberalization: Crises vs. Growth," NBER Working Papers 12806, National Bureau of Economic Research, Inc.
    7. Alimi, Nabil, 2016. "Volatility and growth in developing countries: An asymmetric effect," The Journal of Economic Asymmetries, Elsevier, vol. 14(PB), pages 179-188.
    8. Aaron Tornell & Frank Westermann & Lorenza Martinez, 2003. "Liberalization, Growth, and Financial Crises: Lessons from Mexico and the Developing World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 1-112.
    9. Evan Kraft, 2006. "How Competitive Is Croatia's Banking System?," Working Papers 14, The Croatian National Bank, Croatia.

  10. Aaron Tornell, 2003. "Liberalization, Growth and Financial Crises (October 2003)," UCLA Economics Online Papers 276, UCLA Department of Economics.

    Cited by:

    1. Braun, Matias & Raddatz, Claudio, 2007. "Trade liberalization, capital account liberalization and the real effects of financial development," Journal of International Money and Finance, Elsevier, vol. 26(5), pages 730-761, September.

  11. Aaron Tornell, 2003. "Balance Sheet Effects, Bailout Guarantees and Financial Crises (Review of Economic Studies)," UCLA Economics Online Papers 277, UCLA Department of Economics.

    Cited by:

    1. Luis Felipe Cespedes & Roberto Chang & Andres Velasco, 2000. "Balance Sheets and Exchange Rate Policy," NBER Working Papers 7840, National Bureau of Economic Research, Inc.
    2. Júnior, José L. R., 2008. "Exchange Rate Exposure, Foreign Currency Debt and the Use of Derivatives: Evidence from Brazil," Insper Working Papers wpe_141, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    3. Júnior, José L. R., 2008. "Corporate Financial Policies and the Exchange Rate Regime: Evidence from Brazil," Insper Working Papers wpe_144, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    4. Romaine Ranciere & Aaron Tornell & Frank Westermann, 2003. "Crises and Growth: A Re-Evaluation," NBER Working Papers 10073, National Bureau of Economic Research, Inc.
    5. Rossi Jr, José Luiz, 2009. "Corporate financial policies and the exchange rate regime: Evidence from Brazil," Emerging Markets Review, Elsevier, vol. 10(4), pages 279-295, December.
    6. Graciela L. Kaminsky, 2003. "Varieties of Currency Crises," NBER Working Papers 10193, National Bureau of Economic Research, Inc.
    7. Fujiki, Hiroshi & Watanabe, Kiyoshi, 2003. "Effects of External Debt on Domestic Resource Allocation in a Small Open Economy with Limited Access to the World Capital Market," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 21(4), pages 21-56, December.

  12. Aaron Tornell, 2003. "Credit Market Imperfections in Middle Income Countries (January 2003)," UCLA Economics Online Papers 244, UCLA Department of Economics.

    Cited by:

    1. Yu, Ziliang & Tong, Jiadong, 2020. "Financing benefit from exporting: An indirect identification approach," Journal of Multinational Financial Management, Elsevier, vol. 57.
    2. Pozo, Jorge, 2023. "Sectoral credit reallocation: An excessive bank risk-taking explanation," Emerging Markets Review, Elsevier, vol. 54(C).
    3. Flora Bellone & Patrick Musso & Lionel Nesta & Stefano Schiavo, 2008. "Financial Constraints and Firm Export Behavior," Department of Economics Working Papers 0816, Department of Economics, University of Trento, Italia.
    4. Flora Bellone & Patrick Musso & Lionel Nesta & Stefano Schiavo, 2008. "Financial constraints as a barrier to export participation," Working Papers hal-00973112, HAL.
    5. Bahadir, Berrak & Gumus, Inci, 2016. "Credit decomposition and business cycles in emerging market economies," Journal of International Economics, Elsevier, vol. 103(C), pages 250-262.
    6. Nicolas Berman & Antoine Berthou, 2009. "Financial Market Imperfections and the Impact of Exchange Rate Movements on Exports," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00650665, HAL.
    7. David Archer, 2006. "Implications of recent changes in banking for the conduct of monetary policy," BIS Papers chapters, in: Bank for International Settlements (ed.), The banking system in emerging economies: how much progress has been made?, volume 28, pages 123-51, Bank for International Settlements.
    8. Berrak Bahadir & Inci Gumus, 2021. "House Prices, Collateral Effects and Sectoral Output Dynamics in Emerging Market Economies," Working Papers 2105, Florida International University, Department of Economics.
    9. Xi, Yanle & Zhang, Liang & Zhou, Yuxin & Wu, Lamei, 2024. "Trade policy uncertainty and firm-level pollution emissions: Evidence from China's accession to the WTO," Finance Research Letters, Elsevier, vol. 59(C).
    10. Li, Jie & Ouyang, Zhigang & Zhang, Naixin, 2023. "Processing trade and credit constraints," Journal of Corporate Finance, Elsevier, vol. 83(C).
    11. Nolungelo Cele & Kapingura FM, 2018. "Financial Sector Liberalization and Financial Instability: Case of Selected Southern African Development Community Member Countries," Journal of Economics and Behavioral Studies, AMH International, vol. 10(6), pages 42-49.

  13. Aaron Tornell & Frank Westermann, 2003. "Credit Market Imperfections in Middle Income Countries," CESifo Working Paper Series 960, CESifo.

    Cited by:

    1. Aaron Tornell & Frank Westermann & Lorenza Martinez, 2004. "The Positive Link Between Financial Liberalization, Growth and Crises," NBER Working Papers 10293, National Bureau of Economic Research, Inc.
    2. Leblebicioglu, AslI, 2009. "Financial integration, credit market imperfections and consumption smoothing," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 377-393, February.
    3. Yu, Ziliang & Tong, Jiadong, 2020. "Financing benefit from exporting: An indirect identification approach," Journal of Multinational Financial Management, Elsevier, vol. 57.
    4. Pozo, Jorge, 2023. "Sectoral credit reallocation: An excessive bank risk-taking explanation," Emerging Markets Review, Elsevier, vol. 54(C).
    5. Flora Bellone & Patrick Musso & Lionel Nesta & Stefano Schiavo, 2008. "Financial Constraints and Firm Export Behavior," Department of Economics Working Papers 0816, Department of Economics, University of Trento, Italia.
    6. Flora Bellone & Patrick Musso & Lionel Nesta & Stefano Schiavo, 2008. "Financial constraints as a barrier to export participation," Working Papers hal-00973112, HAL.
    7. Guillermo Calvo & Fabrizio Coricelli & Pablo Ottonello, 2013. "Jobless Recoveries During Financial Crises: Is Inflation the Way Out?," NBER Working Papers 19683, National Bureau of Economic Research, Inc.
    8. Bahadir, Berrak & Gumus, Inci, 2016. "Credit decomposition and business cycles in emerging market economies," Journal of International Economics, Elsevier, vol. 103(C), pages 250-262.
    9. Rodrigo Canales & Ramana Nanda, 2008. "A Darker Side to Decentralized Banks: Market Power and Credit Rationing in SME Lending," Harvard Business School Working Papers 08-101, Harvard Business School, revised Aug 2011.
    10. Pierre Salmon, 2003. "The Assignment of Powers in an Open-ended European Union," CESifo Working Paper Series 993, CESifo.
    11. Nakhoda, Aadil, 2012. "The influence of industry financial composition on export flow: A case study of a developing financial market," MPRA Paper 43792, University Library of Munich, Germany.
    12. Dekle, Robert & Kletzer, Kenneth, 2003. "The Japanese Banking Crisis and Economic Growth: Theoretical and Empirical Implications of Deposit Guarantees and Weak Financial Regulation," Santa Cruz Department of Economics, Working Paper Series qt0t6321ds, Department of Economics, UC Santa Cruz.
    13. Fernando Tenjo & Enrique Lopez, 2003. "Credit bubble and stagnation in Colombia, 1990-2001," Colombian Economic Journal, Academia Colombiana de Ciencias Economicas, Colegio Mayor de Nuestra Senora del Rosario, Pontificia Universidad Javeriana, Universidad de Antioquia, Universidad de los Andes, Universidad del Valle, Universidad Externado de Colombia, Universidad Nacional de Colombia, vol. 1(1), pages 151-191, December.
    14. Espanol, Paula, 2006. "Why exporters can be financially constrained in a recently liberalised economy? A puzzle based on Argentinean firms during the 1990s," Proceedings of the German Development Economics Conference, Berlin 2006 7, Verein für Socialpolitik, Research Committee Development Economics.
    15. Romaine Ranciere & Aaron Tornell & Frank Westermann, 2003. "Crises and Growth: A Re-Evaluation," NBER Working Papers 10073, National Bureau of Economic Research, Inc.
    16. Senderski, Marcin, 2011. "Justifiable Thrift or Feverish Animal Spirits: What Stirred the Corporate Credit Crunch in Poland?," MPRA Paper 43674, University Library of Munich, Germany.
    17. Sengupta, Rajdeep, 2007. "Foreign entry and bank competition," Journal of Financial Economics, Elsevier, vol. 84(2), pages 502-528, May.
    18. Massimiliano Pisani, 2011. "Financial Openness and Macroeconomic Instability in Emerging Market Economies," Open Economies Review, Springer, vol. 22(3), pages 501-532, July.
    19. Pierre-Richard Agénor & Peter J. Montiel, 2006. "Credit Market Imperfections and the Monetary Transmission Mechanism Part I: Fixed Exchange Rates," Economics Discussion Paper Series 0628, Economics, The University of Manchester.
    20. n.a.m, Naseem & abu hassan shaari mohd, Nor & tamat, Sarmidi & noor aini, khalifah, 2013. "Exports and Exchange Rate Movements: The Role of Credit Market Imperfections," MPRA Paper 52395, University Library of Munich, Germany.
    21. Aaron Tornell & Frank Westermann & Lorenzo Martinez, 2004. "Nafta and Mexico Less-than-Steller Performance," UCLA Economics Working Papers 833, UCLA Department of Economics.
    22. Nicolas Berman & Antoine Berthou, 2009. "Financial Market Imperfections and the Impact of Exchange Rate Movements on Exports," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00650665, HAL.
    23. F. Kemal Kýzýlca, 2008. "Capital Flows and the Non-Tradables in the Turkish Economy after Capital Account Liberalization," Papers of the Annual IUE-SUNY Cortland Conference in Economics, in: Oguz Esen & Ayla Ogus (ed.), Proceedings of the Conference on Emerging Economic Issues in a Globalizing World, pages 108-118, Izmir University of Economics.
    24. Ms. Yuanyan S Zhang, 2011. "Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle," IMF Working Papers 2011/118, International Monetary Fund.
    25. Sandra M. Leitner & Robert Stehrer, 2013. "Access to finance and funding composition during the crisis: A firm-level analysis of Latin American countries," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 50(1), pages 1-47, May.
    26. Nicolas Berman & Antoine Berthou, 2006. "Financial market imperfections and the impact of exchange rate movements," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00118834, HAL.
    27. David Archer, 2006. "Implications of recent changes in banking for the conduct of monetary policy," BIS Papers chapters, in: Bank for International Settlements (ed.), The banking system in emerging economies: how much progress has been made?, volume 28, pages 123-51, Bank for International Settlements.
    28. Berrak Bahadir & Inci Gumus, 2021. "House Prices, Collateral Effects and Sectoral Output Dynamics in Emerging Market Economies," Working Papers 2105, Florida International University, Department of Economics.
    29. Yong Sarah Zhou, 2013. "Explaining ASEAN-3’s Investment Puzzle A Tale of Two Sectors," IMF Working Papers 2013/013, International Monetary Fund.
    30. Patrick Artus, 2006. "Intégration commerciale avec des pays émergents ayant des ressources importantes en main-d'œuvre qualifiée. Quels effets pour les pays européens ?," Revue économique, Presses de Sciences-Po, vol. 57(4), pages 673-704.
    31. Xi, Yanle & Zhang, Liang & Zhou, Yuxin & Wu, Lamei, 2024. "Trade policy uncertainty and firm-level pollution emissions: Evidence from China's accession to the WTO," Finance Research Letters, Elsevier, vol. 59(C).
    32. Grace Denny Doku & Joyce Mamle Mawusi Obubuafo & Margaret Aba Sam Hagan, 2020. "Access to Credit by Smallholder Female Farmers in Ho Municipality, Ghana," World Journal of Business and Management, Macrothink Institute, vol. 6(1), pages 17-37, June.
    33. Li, Jie & Ouyang, Zhigang & Zhang, Naixin, 2023. "Processing trade and credit constraints," Journal of Corporate Finance, Elsevier, vol. 83(C).
    34. Aaron Tornell & Frank Westermann & Lorenza Martínez, 2004. "NAFTA and Mexico's Economic Performance," CESifo Working Paper Series 1155, CESifo.
    35. Nolungelo Cele & Kapingura FM, 2018. "Financial Sector Liberalization and Financial Instability: Case of Selected Southern African Development Community Member Countries," Journal of Economics and Behavioral Studies, AMH International, vol. 10(6), pages 42-49.
    36. Aaron Tornell, 2003. "Liberalization, Growth and Financial Crises (October 2003)," UCLA Economics Online Papers 276, UCLA Department of Economics.

  14. Aaron Tornell, 2003. "Exchange Rate Anomalies Under Model Misspecification: A Mixed Optimal/Robust Approach (January 2003)," UCLA Economics Online Papers 266, UCLA Department of Economics.

    Cited by:

    1. Cosmin Ilut, 2009. "Ambiguity Aversion: Implications For The Uncovered Interest Rate Parity Puzzle," 2009 Meeting Papers 328, Society for Economic Dynamics.

  15. Aaron Tornell, 2002. "The Credit Channel in Middle Income Countries (October 2002), with Frank Westermann," UCLA Economics Online Papers 216, UCLA Department of Economics.

    Cited by:

    1. Hutchison, Michael M. & Noy, Ilan & Wang, Lidan, 2010. "Fiscal and monetary policies and the cost of sudden stops," Journal of International Money and Finance, Elsevier, vol. 29(6), pages 973-987, October.
    2. Balázs Égert & Ronald MacDonald, 2009. "Monetary Transmission Mechanism In Central And Eastern Europe: Surveying The Surveyable," Journal of Economic Surveys, Wiley Blackwell, vol. 23(2), pages 277-327, April.
    3. Yong Sarah Zhou, 2008. "Capital Flows and Economic Fluctuations: The Role of Commercial Banks in Transmitting Shocks," IMF Working Papers 2008/012, International Monetary Fund.
    4. Brei, Michael & Buzaushina, Almira, 2015. "International financial shocks in emerging markets," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 51-74.
    5. Bahadir, Berrak & Gumus, Inci, 2016. "Credit decomposition and business cycles in emerging market economies," Journal of International Economics, Elsevier, vol. 103(C), pages 250-262.
    6. Marco Ortiz & Gerardo Herrera, 2020. "Heterogeneous Credit Constraints and Optimal Monetary Policy," Working Papers 164, Peruvian Economic Association.
    7. Bryan Hardy, 2018. "Foreign currency borrowing, balance sheet shocks and real outcomes," BIS Working Papers 758, Bank for International Settlements.
    8. Sangyup Choi, 2018. "The Impact of US Financial Uncertainty Shocks on Emerging Market Economies: An International Credit Channel," Open Economies Review, Springer, vol. 29(1), pages 89-118, February.
    9. Fabrizio Coricelli & Bal??zs ??gert & Ronald MacDonald, 2006. "Monetary Transmission Mechanism in Central & Eastern Europe: Gliding on a Wind of Change," William Davidson Institute Working Papers Series wp850, William Davidson Institute at the University of Michigan.
    10. Bahadir, Berrak & Gumus, Inci, 2022. "House prices, collateral effects and sectoral output dynamics in emerging market economies," Journal of International Money and Finance, Elsevier, vol. 129(C).

  16. Aaron Tornell & Frank Westermann, 2002. "Boom-Bust Cycles in Middle Income Countries: Facts and Explanation," NBER Working Papers 9219, National Bureau of Economic Research, Inc.

    Cited by:

    1. Mora, Nada & Neaime, Simon & Aintablian, Sebouh, 2013. "Foreign currency borrowing by small firms in emerging markets: When domestic banks intermediate dollars," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 1093-1107.
    2. Nanno Mulder & Anne-Laure Baldi, 2004. "The Impact of Exchange Rate Regimes on Real Exchange Rates: ABC and Mexico in the 1990s," Econometric Society 2004 Latin American Meetings 45, Econometric Society.
    3. Yannick Kalantzis, 2005. "Financial fragility in emerging market countries: Firm balance sheets and the productive structure," PSE Working Papers halshs-00590808, HAL.
    4. Mr. Ari Aisen & Michael Franken, 2010. "Bank Credit During the 2008 Financial Crisis: A Cross-Country Comparison," IMF Working Papers 2010/047, International Monetary Fund.
    5. Julia Darby & Anton Muscatelli & Graeme Roy, 2004. "Fiscal Federalism, Fiscal Consolidations and Cuts in Central Government Grants: Evidence from an Event Study," CESifo Working Paper Series 1305, CESifo.
    6. Aaron Tornell & Frank Westermann, 2003. "Credit Market Imperfections in Middle Income Countries," NBER Working Papers 9737, National Bureau of Economic Research, Inc.
    7. Eduardo Cavallo & Barry Eichengreen & Ugo Panizza, 2018. "Can countries rely on foreign saving for investment and economic development?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(2), pages 277-306, May.
    8. Pozo, Jorge, 2023. "Sectoral credit reallocation: An excessive bank risk-taking explanation," Emerging Markets Review, Elsevier, vol. 54(C).
    9. Guido Lorenzoni, 2007. "Inefficient Credit Booms," NBER Working Papers 13639, National Bureau of Economic Research, Inc.
    10. Calderón, César & Kubota, Megumi, 2019. "Ride the Wild Surf: An investigation of the drivers of surges in capital inflows," Journal of International Money and Finance, Elsevier, vol. 92(C), pages 112-136.
    11. Vogel, Ursula & Winkler, Adalbert, 2010. "Foreign banks and financial stability in emerging markets: Evidence from the global financial crisis," Frankfurt School - Working Paper Series 149, Frankfurt School of Finance and Management.
    12. Vítor Castro & Rodrigo Martins, 2021. "What drives the duration of credit booms?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1531-1549, January.
    13. Vítor Castro & Rodrigo Martins, 2021. "Why are credit booms sometimes sweet and sometimes sour?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 3054-3074, April.
    14. Mr. Marco Arena & Serpil Bouza & Ms. Era Dabla-Norris & Mrs. Kerstin Gerling & Lamin Njie, 2015. "Credit Booms and Macroeconomic Dynamics: Stylized Facts and Lessons for Low-Income Countries," IMF Working Papers 2015/011, International Monetary Fund.
    15. Bacchetta, Philippe & Aghion, Philippe & Banerjee, Abhijit, 2004. "Financial Development and the Instability of Open Economies," Scholarly Articles 4554209, Harvard University Department of Economics.
    16. Gu, Xian & Kowalewski, Oskar, 2016. "Creditor rights and the corporate bond market," Journal of International Money and Finance, Elsevier, vol. 67(C), pages 215-238.
    17. Pratap, Sangeeta & Quintin, Erwan, 2011. "Financial crises and labor market turbulence," Journal of Monetary Economics, Elsevier, vol. 58(6), pages 601-615.
    18. Varlik Serdar & Berument M. Hakan, 2016. "Credit channel and capital flows: a macroprudential policy tool? Evidence from Turkey," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(1), pages 145-170, January.
    19. Virginie Coudert & Cyril Pouvelle, 2010. "Assessing the Sustainability of Credit Growth: The case of Central and Eastern European Countries," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 7(1), pages 87-120, June.
    20. Robert Dekle & Hyeok Jeong & Heajin H. Ryoo, 2016. "Firm-Level Heterogeneity and the Aggregate Exchange Rate Effect on Exports," The Economic Record, The Economic Society of Australia, vol. 92(298), pages 435-447, September.
    21. Luca Fornaro, 2014. "Financial crises and exchange rate policy," Economics Working Papers 1431, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2014.
    22. Degryse, Hans & Carbó Valverde, Santiago & Rodriguez-Fernandez, Francisco, 2012. "Lending relationships and credit rationing: the impact of securitization," CEPR Discussion Papers 9138, C.E.P.R. Discussion Papers.
    23. Aysan, Ahmet Faruk, 2006. "Distributional Effects of Boom-Bust Cycles in Developing Countries with Financial Frictions," MPRA Paper 5484, University Library of Munich, Germany.
    24. Gianluca Benigno & Luca Fornaro, 2014. "The Financial Resource Curse," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 58-86, January.
    25. Vítor Castro & Rodrigo Martins, 2018. "Economic and political drivers of the duration of credit booms," NIPE Working Papers 15/2018, NIPE - Universidade do Minho.
    26. Carbo-Valverde, Santiago & Degryse, Hans & Rodríguez-Fernández, Francisco, 2015. "The impact of securitization on credit rationing: Empirical evidence," Journal of Financial Stability, Elsevier, vol. 20(C), pages 36-50.
    27. Ahmet Atil Asici, 2009. "Exchange Rate Regime Choice and Currency Crises," Working Papers 498, Economic Research Forum, revised Aug 2009.
    28. Binici, Mahir & Köksal, Bülent, 2012. "Türkiye'de Aşırı Kredi Genişlemeleri ve Belirleyicileri [Determinants of Credit Booms in Turkey]," MPRA Paper 38032, University Library of Munich, Germany.
    29. Kehoe, Timothy J. & Ruhl, Kim J., 2009. "Sudden stops, sectoral reallocations, and the real exchange rate," Journal of Development Economics, Elsevier, vol. 89(2), pages 235-249, July.
    30. Espanol, Paula, 2006. "Why exporters can be financially constrained in a recently liberalised economy? A puzzle based on Argentinean firms during the 1990s," Proceedings of the German Development Economics Conference, Berlin 2006 7, Verein für Socialpolitik, Research Committee Development Economics.
    31. Gianluca Benigno & Nathan Converse & Luca Fornaro, 2015. "Large Capital Inflows, Sectoral Allocation, and Economic Performance," Discussion Papers 1511, Centre for Macroeconomics (CFM).
    32. Ari Aisen & Michael Franken, 2009. "Bank Credit and the 2008 Financial Crisis: A cross-country Comparison," Working Papers Central Bank of Chile 532, Central Bank of Chile.
    33. Mr. Prakash Kannan, 2010. "Credit Conditions and Recoveries from Recessions Associated with Financial Crises," IMF Working Papers 2010/083, International Monetary Fund.
    34. Nikolas A. Müller-Plantenberg, 2017. "Boom-and-bust Cycles, External Imbalances and the Real Exchange Rate," The World Economy, Wiley Blackwell, vol. 40(1), pages 56-87, January.
    35. Yener Altunbas & Leonardo Gambacorta & David Marques-Ibanez, 2014. "Does Monetary Policy Affect Bank Risk?," International Journal of Central Banking, International Journal of Central Banking, vol. 10(1), pages 95-136, March.
    36. Thierry Tressel & Thierry Verdier, 2011. "Financial Globalization and the Governance of Domestic Financial Intermediaries," Post-Print halshs-00754560, HAL.
    37. International Monetary Fund, 2006. "Thailand: Selected Issues," IMF Staff Country Reports 2006/019, International Monetary Fund.
    38. Juan Carlos Cuestas & Nicolas Reigl & Yannick Lucotte, 2019. "The evolution and heterogeneity of credit procyclicality in Central and Eastern Europe," Bank of Estonia Working Papers wp2019-03, Bank of Estonia, revised 01 Nov 2019.
    39. Calderón, César & Fuentes, J. Rodrigo, 2014. "Have business cycles changed over the last two decades? An empirical investigation," Journal of Development Economics, Elsevier, vol. 109(C), pages 98-123.
    40. Channarith Meng & Roberto Leon-Gonzalez, 2016. "Credit Booms in Developing Countries: Are They Different from Those in Advanced and Emerging Market Countries?," GRIPS Discussion Papers 15-22, National Graduate Institute for Policy Studies.
    41. Akhilesh K. Verma & Rajeswari Sengupta, 2021. "Interlinkages between external debt financing, credit cycles and output fluctuations in emerging market economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(4), pages 965-1001, November.
    42. Paul Maarek & Elsa Orgiazzi, 2011. "Which factor bears the cost of currency crises?," Economics Working Paper Archive (University of Rennes & University of Caen) 201101, Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS.
    43. Yannick Kalantzis, 2015. "Financial Fragility in Small Open Economies: Firm Balance Sheets and the Sectoral Structure," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(3), pages 1194-1222.
    44. Wagner, Charlotte & Winkler, Adalbert, 2013. "The Vulnerability of Microfinance to Financial Turmoil – Evidence from the Global Financial Crisis," World Development, Elsevier, vol. 51(C), pages 71-90.
    45. Wagner, Charlotte, 2010. "From boom to bust: how different has microfinance been from traditional banking?," Frankfurt School - Working Paper Series 156, Frankfurt School of Finance and Management.
    46. Yener Altunbas & Simone Manganelli & David Marques-Ibanez, 2015. "Realized Bank Risk during the Great Recession," International Finance Discussion Papers 1140, Board of Governors of the Federal Reserve System (U.S.).
    47. Abiad, Abdul & Bluedorn, John & Guajardo, Jaime & Topalova, Petia, 2015. "The Rising Resilience of Emerging Market and Developing Economies," World Development, Elsevier, vol. 72(C), pages 1-26.
    48. Oliver Hülsewig & Timo Wollmershäuser, 2006. "Makroökonomische Bedeutung von Vermögenspreisblase: Eine Event-Studie für die G4-Länder," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 59(19), pages 13-33, October.
    49. Fratzscher, Marcel & Bussière, Matthieu & Koeniger, Winfried, 2004. "Currency mismatch, uncertainty and debt maturity structure," Working Paper Series 409, European Central Bank.
    50. Thornton, John & Vasilakis, Chrysovalantis, 2023. "Bank regulations and surges and stops in credit: Panel evidence," Journal of Financial Stability, Elsevier, vol. 67(C).
    51. Eduardo Olaberría, 2014. "Capital Inflows and Booms in Asset Prices: Evidence from a Panel of Countries," Central Banking, Analysis, and Economic Policies Book Series, in: Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart (ed.),Capital Mobility and Monetary Policy, edition 1, volume 18, chapter 8, pages 255-290, Central Bank of Chile.
    52. Li, Suxiao & de Haan, Jakob & Scholtens, Bert, 2018. "Surges of international fund flows," Journal of International Money and Finance, Elsevier, vol. 82(C), pages 97-119.
    53. Vazquez, Francisco, 2020. "Credit Reversals," MPRA Paper 104869, University Library of Munich, Germany.
    54. Jaime C. Guajardo, 2008. "Financial Frictions and Business Cycles in Middle-Income Countries," Central Banking, Analysis, and Economic Policies Book Series, in: Kevin Cowan & Sebastián Edwards & Rodrigo O. Valdés & Norman Loayza (Series Editor) & Klaus Schmidt- (ed.),Current Account and External Financing, edition 1, volume 12, chapter 8, pages 279-344, Central Bank of Chile.
    55. Adalbert Winkler, 2010. "The Financial Crisis : A Wake-Up Call for Strengthening Regional Monitoring of Financial Markets and Regional Coordination of Financial Sector Policies?," Finance Working Papers 22022, East Asian Bureau of Economic Research.
    56. Braun, Matias & Raddatz, Claudio, 2007. "Trade liberalization, capital account liberalization and the real effects of financial development," Journal of International Money and Finance, Elsevier, vol. 26(5), pages 730-761, September.
    57. Winfried Koeniger & Matthieu Bussiere & Marcel Fratzscher, 2004. "Currency Mismatch, Uncertainty and Debt Structure," Econometric Society 2004 North American Summer Meetings 181, Econometric Society.
    58. Aaron Tornell, 2002. "The Credit Channel in Middle Income Countries (October 2002), with Frank Westermann," UCLA Economics Online Papers 216, UCLA Department of Economics.
    59. Calderon, Cesar & Kubota, Megumi, 2012. "Gross inflows gone wild : gross capital inflows, credit booms and crises," Policy Research Working Paper Series 6270, The World Bank.
    60. Mara, Mirza Yuniar Isnaeni & Purwanto, Nur M.Adhi & Kurniati, Ina Nurmalia & Fauziah, Nanda Rizki & Aqmaliyah, Euis, 2021. "Capital flow and banking credit in Indonesia," Economic Modelling, Elsevier, vol. 95(C), pages 298-310.
    61. Dobromił Serwa, 2013. "Measuring Non-Performing Loans During (and After) Credit Booms," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 5(3), pages 163-183, September.
    62. Brei, Michael & Charpe, Matthieu, 2012. "Currency depreciations, financial transfers, and firm heterogeneity," Emerging Markets Review, Elsevier, vol. 13(1), pages 26-41.
    63. Kannan, Prakash, 2012. "Credit conditions and recoveries from financial crises," Journal of International Money and Finance, Elsevier, vol. 31(5), pages 930-947.
    64. Julia Darby & Anton Muscatelli & Graeme Roy, 2006. "Asymmetries in the Responses of Sub-Central Governments to Changes in Grants: Evidence From an Event Study," ERSA conference papers ersa06p508, European Regional Science Association.
    65. Dobromil Serwa, 2011. "Identifying multiple regimes in the model of credit to households," NBP Working Papers 99, Narodowy Bank Polski.
    66. Wolfgang Nierhaus & Timo Wollmershäuser, 2016. "ifo Konjunkturumfragen und Konjunkturanalyse: Band II," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 72, July.
    67. Vitor Castro & Megumi Kubota, 2013. "Duration dependence and change-points in the likelihood of credit booms ending," GEMF Working Papers 2013-17, GEMF, Faculty of Economics, University of Coimbra.
    68. István Kónya & Miklós Váry, 2023. "Which Sectors Go On When There Is a Sudden Stop? An Empirical Analysis," CERS-IE WORKING PAPERS 2311, Institute of Economics, Centre for Economic and Regional Studies.
    69. Hristov, Nikolay & Hülsewig, Oliver, 2017. "Unexpected loan losses and bank capital in an estimated DSGE model of the euro area," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 161-186.
    70. Sarah Lynne Salvador Daway-Ducanes & Maria Socorro Gochoco-Bautista, 2019. "Manufacturing and Services Growth in Developing Economies: ‘Too Little’ Finance?," Progress in Development Studies, , vol. 19(1), pages 55-82, January.
    71. Detragiache, Enrica & Rajan, Raghuram & Dell'Ariccia, Giovanni, 2005. "The Real Effect of Banking Crises," CEPR Discussion Papers 5088, C.E.P.R. Discussion Papers.
    72. Coudert, V. & Pouvelle, C., 2008. "Is credit growth in central and eastern European countries excessive?," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 13, pages 63-102, Autumn.
    73. Ahmet Atil Asici, 2007. "Parametric and Non-parametric Approaches to Exits from Fixed Exchange Rate Regimes," IHEID Working Papers 14-2007, Economics Section, The Graduate Institute of International Studies.
    74. Paul Maarek & Elsa Orgiazzi, 2013. "Currency Crises and the Labour Share," Economica, London School of Economics and Political Science, vol. 80(319), pages 566-588, July.
    75. Lahura, Erick & Chang, Giancarlo & Salazar, Oscar, 2013. "Identificación de Episodios de Auge Crediticio: Una propuesta Metodológica con Fundamentos Económicos," Working Papers 2013-011, Banco Central de Reserva del Perú.
    76. Vítor Castro & Rodrigo Martins, 2019. "Political and Institutional Determinants of Credit Booms," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 81(5), pages 1144-1178, October.
    77. Weerachart Kilenthong & Robert Townsend, 2016. "A Market Based Solution for Fire Sales and Other Pecuniary Externalities," PIER Discussion Papers 23, Puey Ungphakorn Institute for Economic Research.
    78. Branimir Jovanovic & Egzona Hani & Ljupka Georgievska, 2017. "Post-crisis credit slowdown in South-East Europe: return to normality?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(4), pages 733-780, November.
    79. Gabriela Cugat, 2019. "Emerging markets, household heterogeneity, and exchange rate policy," 2019 Meeting Papers 526, Society for Economic Dynamics.
    80. Soyoung Kim & Sunghyun H. Kim, 2013. "International Capital Flows, Boom-Bust Cycles, And Business Cycle Synchronization In The Asia Pacific Region," Contemporary Economic Policy, Western Economic Association International, vol. 31(1), pages 191-211, January.
    81. Yener Altunbas & Simone Manganelli & David Marques-Ibanez, 2012. "Bank Risk during the Financial Crisis: Do business models matter?," Working Papers 12003, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    82. Aaron Tornell & Frank Westermann, 2002. "The Credit Channel in Middle Income Countries," NBER Working Papers 9355, National Bureau of Economic Research, Inc.
    83. Elena Naumovska & Mihail Petkovski & Iskra Stanceva - Gigov, 2015. "Estimation Of The "Normal" Credit Growth In The Republic Of Macedonia With Regards To The Economic Fundamentals," Journal Articles, Center For Economic Analyses, pages 47-56, June.
    84. Elekdag, Selim & Han, Fei, 2015. "What drives credit growth in emerging Asia?," Journal of Asian Economics, Elsevier, vol. 38(C), pages 1-13.
    85. Zorobabel Bicaba & Daniel Kapp & Francesco Molteni, 2011. "Stability periods between financial crises : The role of macroeconomic fundamentals and crises management policies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00639869, HAL.
    86. Carbó-Valverde, Santiago & Marques-Ibanez, David & Rodríguez-Fernández, Francisco, 2012. "Securitization, risk-transferring and financial instability: The case of Spain," Journal of International Money and Finance, Elsevier, vol. 31(1), pages 80-101.
    87. Gergely Kiss & Márton Nagy & Balázs Vonnák, 2006. "Credit Growth in Central and Eastern Europe: Convergence or Boom?," MNB Working Papers 2006/10, Magyar Nemzeti Bank (Central Bank of Hungary).
    88. Aaron Tornell, 2003. "Balance Sheet Effects, Bailout Guarantees and Financial Crises (Review of Economic Studies)," UCLA Economics Online Papers 277, UCLA Department of Economics.
    89. Selim Elekdag & Yiqun Wu, 2013. "Rapid Credit Growth in Emerging Markets: Boon or Boom-Bust?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 49(5), pages 45-62, September.
    90. Ravi Kashyap, 2016. "Financial Services, Economic Growth and Well-Being: A Four-Pronged Study," Papers 1603.00991, arXiv.org, revised May 2017.
    91. Mr. Jaime Guajardo, 2008. "Financial Frictions and Business Cycles in Middle-Income Countries," IMF Working Papers 2008/020, International Monetary Fund.
    92. Mr. Selim A Elekdag & Mr. Yiqun Wu, 2011. "Rapid Credit Growth: Boon or Boom-Bust?," IMF Working Papers 2011/241, International Monetary Fund.
    93. Brzoza-Brzezina, Michał, 2005. "Lending booms in the new EU Member States: will euro adoption matter?," Working Paper Series 543, European Central Bank.
    94. Henry Kim & Soyoung Kim & Yunjong Wang, 2005. "International Capital Flows and Boom-Bust Cycles in the Asia Pacific Region," Discussion Papers Series, Department of Economics, Tufts University 0506, Department of Economics, Tufts University.
    95. Müller-Plantenberg, Nikolas, 2012. "Boom-and-bust cycles marked by capital inflows, current account deterioration and a rise and fall of the real exchange rate," Working Papers in Economic Theory 2012/10, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    96. Lars Calmfors & Giancarlo Corsetti & Seppo Honkapohja & John Kay & Willi Leibfritz & Gilles Saint-Paul & Hans-Werner Sinn & Xavier Vives, 2004. "EEAG European Economic Advisory Group at CESifo: Report on the European Economy 2004," EEAG Report on the European Economy, CESifo, vol. 0, pages 1-148, October.
    97. Giuliana Birindelli & Paola Ferretti & Marco Savioli, 2016. "Basel 3: Does One Size Really Fit All Banks' Business Models?," Working Paper series 16-20, Rimini Centre for Economic Analysis.
    98. Nannette Lindenberg & Frank Westermann, 2012. "How strong is the case for dollarization in Central America? An empirical analysis of business cycles, credit market imperfections and the exchange rate," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(2), pages 147-166, April.
    99. Julia Darby & V. Anton Muscatelli & Graeme Roy, "undated". "How do Sub-Central Government react to cuts in grants received from Central Governments Evidence from a Panel of 15 OECD Countries," Working Papers 2005_18, Business School - Economics, University of Glasgow, revised Jun 2005.
    100. Peter Ignatiev, 2004. "Theoretical Models of Financial Crises," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 110-130.
    101. Aylin Soydan & Serap Bedir Kara, 2020. "Implications of Capital Flows for Domestic Credit Growth: Evidence from Panel Data Analysis," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 8(4), pages 231-245.
    102. M S Mohanty & Gert Schnabel & Pablo Garcia-Luna, 2006. "Banks and aggregate credit: what is new?," BIS Papers chapters, in: Bank for International Settlements (ed.), The banking system in emerging economies: how much progress has been made?, volume 28, pages 11-39, Bank for International Settlements.
    103. Ugurlu, Esra Nur, 2023. "Sectoral implications of policy induced household credit expansions," Structural Change and Economic Dynamics, Elsevier, vol. 67(C), pages 14-31.
    104. Jaime C. Guajardo, 2007. "Financial Frections and Business Cycles in Middle Income Countries," Working Papers Central Bank of Chile 444, Central Bank of Chile.
    105. Van Assche, Kristof & Gruezmacher, Monica & Deacon, Leith, 2020. "Land use tools for tempering boom and bust: Strategy and capacity building in governance," Land Use Policy, Elsevier, vol. 93(C).
    106. Julia Darby & V. Anton Muscatelli & Graeme Roy, "undated". "Fiscal Federalism and Fiscal Consolidation: Evidence from an Event Study," Working Papers 2005_21, Business School - Economics, University of Glasgow, revised Jun 2005.
    107. Aaron Tornell, 2003. "Credit Market Imperfections in Middle Income Countries (January 2003)," UCLA Economics Online Papers 244, UCLA Department of Economics.
    108. Rodrigo Barbone Gonzalez & Joaquim Lima & Leonardo Marinho, 2015. "Countercyclical Capital Buffers: bayesian estimates and alternatives focusing on credit growth," Working Papers Series 384, Central Bank of Brazil, Research Department.

  17. Pierre-Olivier Gourinchas & Aaron Tornell, 2000. "Exchange Rate Dynamics, Learning and Misperception," Econometric Society World Congress 2000 Contributed Papers 0795, Econometric Society.

    Cited by:

    1. Pierre-Olivier Gourinchas & Hélène Rey, 2007. "International Financial Adjustment," Journal of Political Economy, University of Chicago Press, vol. 115(4), pages 665-703, August.
    2. Juan José Echavarría & Luis Fernando Melo Velandia & Santiago Téllez & Mauricio Villamizar, 2013. "The Impact of Pre-announced Day-to-day Interventions on the Colombian Exchange Rate," Borradores de Economia 10767, Banco de la Republica.
    3. Emine Boz, 2006. "Can Miracles Lead to Crises? An Informational Frictions Explanation of Emerging Markets Crises," Computing in Economics and Finance 2006 19, Society for Computational Economics.
    4. Mr. Jacques A Miniane, 2004. "Productivity Shocks, Learning, and Open Economy Dynamics," IMF Working Papers 2004/088, International Monetary Fund.
    5. Philippe Bacchetta & Eric van Wincoop, 2003. "Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?," Working Papers 03.02, Swiss National Bank, Study Center Gerzensee.
    6. Derviz, Alexis, 2004. "Asset return dynamics and the FX risk premium in a decentralized dealer market," European Economic Review, Elsevier, vol. 48(4), pages 747-784, August.
    7. Emine Boz, 2009. "Can Miracles Lead to Crises? The Role of Optimism in Emerging Markets Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(6), pages 1189-1215, September.
    8. Andersen, Torben M. & Beier, Niels C., 2005. "International transmission of transitory and persistent monetary shocks under imperfect information," Journal of International Economics, Elsevier, vol. 66(2), pages 485-507, July.
    9. Scholl, Almuth & Uhlig, Harald, 2008. "New evidence on the puzzles: Results from agnostic identification on monetary policy and exchange rates," Journal of International Economics, Elsevier, vol. 76(1), pages 1-13, September.
    10. Mikael Bask, 2003. "Technical Trading at the Currency Market Increases the Overshooting Effect," Finnish Economic Papers, Finnish Economic Association, vol. 16(2), pages 72-80, Autumn.
    11. Gourinchas, P O & Tornell, A, 2004. "Exchange rate puzzles and distorted beliefs," Department of Economics, Working Paper Series qt63m3f61w, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    12. Ken West, 2003. "Monetary policy and the volatility of real exchange rates in New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2003/09, Reserve Bank of New Zealand.
    13. Rehim Kılıç, 2023. "Uncovered interest rate, overshooting, and predictability reversal puzzles in an emerging economy," Finance and Economics Discussion Series 2023-074, Board of Governors of the Federal Reserve System (U.S.).
    14. Monika Piazzesi & Martin Schneider, 2008. "Bond positions, expectations, and the yield curve," FRB Atlanta Working Paper 2008-02, Federal Reserve Bank of Atlanta.
    15. Divino, Jose Angelo, 2009. "Optimal monetary policy for a small open economy," Economic Modelling, Elsevier, vol. 26(2), pages 352-358, March.
    16. Guerrazzi, Marco, 2012. "On involuntary unemployment: notes on efficiency-wage competition," MPRA Paper 38140, University Library of Munich, Germany.
    17. Aaron Tornell, 2000. "Robust-H-infinity Forecasting and Asset Pricing Anomalies," NBER Working Papers 7753, National Bureau of Economic Research, Inc.
    18. Jonathan Kearns, 2007. "Commodity Currencies: Why Are Exchange Rate Futures Biased if Commodity Futures Are Not?," The Economic Record, The Economic Society of Australia, vol. 83(260), pages 60-73, March.
    19. Jan Brùha & Alexis Derviz, 2006. "Macroeconomic Factors and the Balanced Value of the Czech Koruna/Euro Exchange Rate (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 56(7-8), pages 318-343, July.
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    217. Juliane Begenau, 2015. "Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model," 2015 Meeting Papers 687, Society for Economic Dynamics.
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    219. Kilinc, Mustafa & Neyapti, Bilin, 2012. "Bank regulation and supervision and its welfare implications," Economic Modelling, Elsevier, vol. 29(2), pages 132-141.
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    221. Ho, Sin-Yu & Njindan Iyke, Bernard, 2018. "The Determinants of Economic Growth in Ghana: New Empirical Evidence," MPRA Paper 87123, University Library of Munich, Germany.
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    226. Graciela L. Kaminsky, 2003. "Varieties of Currency Crises," NBER Working Papers 10193, National Bureau of Economic Research, Inc.
    227. Jeanne, Olivier, 2003. "Why Do Emerging Economies Borrow in Foreign Currency?," CEPR Discussion Papers 4030, C.E.P.R. Discussion Papers.
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    229. Fujiki, Hiroshi & Watanabe, Kiyoshi, 2003. "Effects of External Debt on Domestic Resource Allocation in a Small Open Economy with Limited Access to the World Capital Market," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 21(4), pages 21-56, December.
    230. Juthathip Jongwanich, 2006. "Exchange Rate Regimes, Capital Account Opening and Real Exchange Rates: Evidence from Thailand," Departmental Working Papers 2006-01, The Australian National University, Arndt-Corden Department of Economics.
    231. Lorenzoni, Guido, 2014. "International Financial Crises," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 689-740, Elsevier.
    232. Si Thu Han & Sazzadul Arefin & Khin Myo Swe, 2018. "The Impact of Service Sectors on Kazakhstan¡¯s Economy," Business and Economic Research, Macrothink Institute, vol. 8(4), pages 45-51, December.
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    234. Priyank Gandhi & Hanno Lustig, 2010. "Size Anomalies in U.S. Bank Stock Returns: A Fiscal Explanation," NBER Working Papers 16553, National Bureau of Economic Research, Inc.
    235. Jürgen Antony & D. Broer, 2015. "Euro area financial shocks and economic activity in The Netherlands," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(3), pages 571-595, August.
    236. Hoyt Bleakley & Kevin Cowan, 2005. "Deuda empresarial denominada en dólares y depreciación: ¿mucho ruido y pocas nueces?," Research Department Publications 4412, Inter-American Development Bank, Research Department.
    237. Nannette Lindenberg & Frank Westermann, 2012. "How strong is the case for dollarization in Central America? An empirical analysis of business cycles, credit market imperfections and the exchange rate," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(2), pages 147-166, April.
    238. Palma Filep-Mosberger & Lorant Kaszab & Zhou Ren, 2024. "Spillover Effects of Foreign Currency Loans: the Role of the Bank Lending Channel," MNB Working Papers 2024/2, Magyar Nemzeti Bank (Central Bank of Hungary).
    239. Cowan, Kevin & Raddatz, Claudio, 2011. "Sudden stops and financial frictions : evidence from industry level data," Policy Research Working Paper Series 5605, The World Bank.
    240. Peter Ignatiev, 2004. "Theoretical Models of Financial Crises," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 110-130.
    241. Nakata, Takeshi, 2010. "Interdependent bank runs under a collapsing fixed exchange rate regime," Journal of the Japanese and International Economies, Elsevier, vol. 24(4), pages 603-623, December.
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    244. Monal Abdel-Baki, 2011. "The efficacy of the Egyptian bank reform plan in mitigating the impact of the global financial crisis," Economic Change and Restructuring, Springer, vol. 44(3), pages 221-241, August.
    245. Gelos, R. Gaston & Werner, Alejandro M., 2002. "Financial liberalization, credit constraints, and collateral: investment in the Mexican manufacturing sector," Journal of Development Economics, Elsevier, vol. 67(1), pages 1-27, February.
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    247. Mr. Luc E. Leruth & Mr. Yougesh Khatri & Ms. J. Piesse, 2002. "Corporate Performance and Governance in Malaysia," IMF Working Papers 2002/152, International Monetary Fund.
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  19. Aaron Tornell, 2000. "Robust-H-infinity Forecasting and Asset Pricing Anomalies," NBER Working Papers 7753, National Bureau of Economic Research, Inc.

    Cited by:

    1. Söderlind, Paul, 2005. "C-CAPM Without Ex Post Data," CEPR Discussion Papers 5407, C.E.P.R. Discussion Papers.
    2. Giordani, Paolo & Söderlind, Paul, 2002. "Solution of Macromodels with Hansen-Sargent Robust Policies: Some Extensions," SSE/EFI Working Paper Series in Economics and Finance 499, Stockholm School of Economics, revised 15 May 2003.
    3. Kilponen, Juha, 2004. "Robust expectations and uncertain models: a robust contol approach with application to the new Keynesian economy," Bank of Finland Research Discussion Papers 5/2004, Bank of Finland.
    4. Giordani, Paolo & Soderlind, Paul, 2006. "Is there evidence of pessimism and doubt in subjective distributions? Implications for the equity premium puzzle," Journal of Economic Dynamics and Control, Elsevier, vol. 30(6), pages 1027-1043, June.
    5. David Hudgins & Patrick M. Crowley, 2019. "Stress-Testing U.S. Macroeconomic Policy: A Computational Approach Using Stochastic and Robust Designs in a Wavelet-Based Optimal Control Framework," Computational Economics, Springer;Society for Computational Economics, vol. 53(4), pages 1509-1546, April.
    6. David Hudgins & Patrick M. Crowley, 2023. "Resilient Control for Macroeconomic Models," Computational Economics, Springer;Society for Computational Economics, vol. 61(4), pages 1403-1431, April.
    7. Söderlind, Paul & Giordani, Paolo, 2003. "Is There Evidence of Pessimism and Doubt in Subjective Distributions? A Comment on Abel," CEPR Discussion Papers 4068, C.E.P.R. Discussion Papers.

  20. Aaron Tornell, 1999. "Privatizing The Privatized," Harvard Institute of Economic Research Working Papers 1869, Harvard - Institute of Economic Research.

    Cited by:

    1. Kornai, János & Maskin, Eric & Roland, Gérard, 2022. "A puha költségvetési korlát - II [The soft budget constraint II]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 94-132.
    2. Vahabi, Mehrdad, 2003. "La contrainte budgétaire lâche et la théorie économique [Soft Budget Constraint and Economic Theory]," MPRA Paper 17651, University Library of Munich, Germany.
    3. Rodolfo Apreda, 2004. "Corporate Rent-Seeking and the managerial soft-budget constraint," CEMA Working Papers: Serie Documentos de Trabajo. 283, Universidad del CEMA.
    4. Sybil Rhodes, 2012. "Political communication and economic reform: the use of consumerist frames in Brazil, 1985-2005," CEMA Working Papers: Serie Documentos de Trabajo. 482, Universidad del CEMA.
    5. J. Kornai & E. Maskin & G. Roland, 2004. "Understanding the Soft Budget Constraint," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 11.

  21. Aaron Tornell, 1999. "Common Fundamentals in the Tequila and Asian Crises," NBER Working Papers 7139, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ricardo Mora & Georges Siotis, 2000. "External Factors in Emerging Market Recoveries: An Empirical Investigation," Econometric Society World Congress 2000 Contributed Papers 1415, Econometric Society.
    2. Khan, Saleheen & Islam, Faridul, 2008. "Was China the first domino? Revisiting the Asian currency crisis," Economics Letters, Elsevier, vol. 98(3), pages 275-281, March.
    3. Allegret, Jean-Pierre & Sandretto, René, 2000. "La nouvelle architecture du système monétaire international," L'Actualité Economique, Société Canadienne de Science Economique, vol. 76(3), pages 437-456, septembre.
    4. Frankel, Jeffrey A. & Saravelos, George, 2012. "Can Leading Indicators Assess Country Vulnerability? Evidence from the 2008-09 Global Financial Crisis," Scholarly Articles 9642637, Harvard Kennedy School of Government.
    5. Aaron Tornell, 2004. "Banks, Bailout Guarantees, and Risky Debt," NBER Chapters, in: Governance, Regulation, and Privatization in the Asia-Pacific Region, pages 425-453, National Bureau of Economic Research, Inc.
    6. Paolo Pesenti & Cédric Tille, 2000. "The economics of currency crises and contagion: an introduction," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 3-16.
    7. Petr Hájek & Michal Střižík & Pavel Praks & Petr Kadeřábek, 2009. "Možnosti využití přístupu latentní sémantiky při předpovídání finančních krizí [Possibilities of Financial Crises Forecasting with Latent Semantic Indexing]," Politická ekonomie, Prague University of Economics and Business, vol. 2009(6), pages 754-768.
    8. Pavel Trunin & M. Kamenskih, 2007. "Monitoring Financial Stability In Developing Economies (Case of Russia)," Research Paper Series, Gaidar Institute for Economic Policy, issue 111.
    9. J L Ford & Bagus Santoso & N J Horsewood, 2007. "Asian Currency Crises: Do Fundamentals still Matter? A Markov-Switching Approach to Causes and Timing," Discussion Papers 07-07, Department of Economics, University of Birmingham.
    10. Noland, Marcus, 2001. "Peter C. Y. Chow and Bates Gill (Eds.), Weathering the Storm: Taiwan, Its Neighbors, and the Asian Financial Crisis," Journal of Comparative Economics, Elsevier, vol. 29(3), pages 588-590, September.
    11. Cevdet Denizer & Mustafa Dinc & Murat Tarimcilar, 2007. "Financial liberalization and banking efficiency: evidence from Turkey," Journal of Productivity Analysis, Springer, vol. 27(3), pages 177-195, June.
    12. Chowdhry, Bhagwan & Goyal, Amit, 2000. "Understanding the financial crisis in Asia," Pacific-Basin Finance Journal, Elsevier, vol. 8(2), pages 135-152, May.
    13. Aaron Tornell, "undated". "Concentrated Ownership and Bailout Guarantees (November 2005)," UCLA Economics Online Papers 407, UCLA Department of Economics.
    14. Aaron Tornell & Frank Westermann, 2005. "Boom-Bust Cycles and Financial Liberalization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262201593, December.
    15. Theo S. Eicher & Charis Christofides & Chris Papageorgiou, 2012. "Did Established Early Warning Signals Predict the 2008 Crises?," Working Papers UWEC-2012-05, University of Washington, Department of Economics.
    16. Monica Susanu, 2015. "Hidden Threats Behind Romania’S Congruous Borrowing – Case Study," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 377-387.
    17. Noland, Marcus, 2000. "The Philippines in the Asian Financial Crisis: How the Sick Man Avoided Pneumonia," MPRA Paper 55665, University Library of Munich, Germany.
    18. Mulder, Christian & Perrelli, Roberto & Rocha, Manuel Duarte, 2012. "External vulnerability, balance sheet effects, and the institutional framework — Lessons from the Asian crisis," International Review of Economics & Finance, Elsevier, vol. 21(1), pages 16-28.
    19. Jay Surti, 2004. "Rational Speculation, Financial Crises, and Optimal Policy Responses," IMF Working Papers 2004/025, International Monetary Fund.
    20. Kam-hon CHU & Bob Y. C. Chan & Chor-yiu Sin, 2000. "Contagion Effects, Informational Effects, and Economic Fundamentals: An Analysis of Exchange Rate Dynamics during the Asian Currency Crisis," Working Papers 022000, Hong Kong Institute for Monetary Research.
    21. Khan, Saleheen, 2004. "Contagious Asian Crisis: Bank Lending and Capital Inflows," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 19, pages 519-535.
    22. Matthieu Bussière, 2013. "Balance of payment crises in emerging markets: how early were the ‘early’ warning signals?," Applied Economics, Taylor & Francis Journals, vol. 45(12), pages 1601-1623, April.
    23. Mr. Zhiwei Zhang, 2001. "Speculative Attacks in the Asian Crisis," IMF Working Papers 2001/189, International Monetary Fund.
    24. Gerardo Esquivel & Felipe Larraín, 2003. "¿Qué Sabemos Realmente sobre las Crisis Cambiarias?," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(121), pages 656-667.
    25. Thomas D. Willett & Ekniti Nitithanprapas & Isriya Nitithanprapas & Sunil Rongala, 2004. "The Asian Crises Reexamined," Asian Economic Papers, MIT Press, vol. 3(3), pages 32-87.
    26. Martin Schneider & Aaron Tornell, 2004. "Balance Sheet Effects, Bailout Guarantees and Financial Crises," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(3), pages 883-913.
    27. Mohamed Ayadi & Wajih Khallouli & René Sandretto, 2006. "Les déterminants des crises financières récentes des pays émergents," Post-Print halshs-00137700, HAL.
    28. J Benson Durham, "undated". "A Survey of the Econometric Literature on the Real Effects of International Capital Flows in Lower Income Countries," QEH Working Papers qehwps50, Queen Elizabeth House, University of Oxford.
    29. Kristin Forbes, 2000. "The Asian Flu and Russian Virus: Firm-level Evidence on How Crises are Transmitted Internationally," NBER Working Papers 7807, National Bureau of Economic Research, Inc.
    30. Hali J. Edison, 2000. "Do indicators of financial crises work? an evaluation of an early warning system," International Finance Discussion Papers 675, Board of Governors of the Federal Reserve System (U.S.).
    31. Caramazza, Francesco & Ricci, Luca & Salgado, Ranil, 2004. "International financial contagion in currency crises," Journal of International Money and Finance, Elsevier, vol. 23(1), pages 51-70, February.
    32. Allard Bruinshoofd & Bertrand Candelon & Katharina Raabe, 2010. "Banking Sector Fragility and the Transmission of Currency Crises," Open Economies Review, Springer, vol. 21(2), pages 263-292, April.
    33. Joanna Siwinska-Gorzelak, 2000. "Currency Crises and Fiscal Imbalances. The Transition Countries Perspective," CASE Network Studies and Analyses 0219, CASE-Center for Social and Economic Research.
    34. Saubhik Deb, 2006. "Trade First and Trade Fast: A Duration Analysis of Recovery from Currency Crisis," Departmental Working Papers 200607, Rutgers University, Department of Economics.
    35. Aaron Tornell & Frank Westermann, 2002. "Boom-Bust Cycles in Middle Income Countries: Facts and Explanation," IMF Staff Papers, Palgrave Macmillan, vol. 49(Special i), pages 111-155.
    36. Carsten Hefeker, 2000. "Structural Reforms and the Enlargement of Monetary Union," CESifo Working Paper Series 270, CESifo.
    37. Block, Steven A., 2003. "Political conditions and currency crises in emerging markets," Emerging Markets Review, Elsevier, vol. 4(3), pages 287-309, September.
    38. Bertrand Candelon & Elena-Ivona Dumitrescu & Christophe Hurlin, 2012. "How to evaluate an Early Warning System ?," Working Papers halshs-00450050, HAL.
    39. Hong, Kiseok & Tornell, Aaron, 2005. "Recovery from a currency crisis: some stylized facts," Journal of Development Economics, Elsevier, vol. 76(1), pages 71-96, February.
    40. Pierre-Olivier Gourinchas & Rodrigo Valdes & Oscar Landerretche, 2001. "Lending Booms: Latin America and the World," NBER Working Papers 8249, National Bureau of Economic Research, Inc.
    41. Ramon Moreno & Bharat Trehan, 2000. "Common shocks and currency crises," Working Paper Series 2000-05, Federal Reserve Bank of San Francisco.
    42. Topi, Jukka & Vilmunen, Jouko, 2001. "Transmission of monetary policy shocks in Finland: evidence from bank level data on loans," Working Paper Series 100, European Central Bank.
    43. Rossi, Giovanni, 2005. "The New IMS Architecture and the Spirit of the Bretton Woods," MPRA Paper 89877, University Library of Munich, Germany.
    44. Celso Brunetti & Roberto S. Mariano & Chiara Scotti & Augustine H. H. Tan, 2007. "Markov switching GARCH models of currency turmoil in southeast Asia," International Finance Discussion Papers 889, Board of Governors of the Federal Reserve System (U.S.).
    45. Dongchul Cho & Kiseok Hong, 2001. "Currency Crisis of Korea: Internal Weakness or External Interdependence?," NBER Chapters, in: Regional and Global Capital Flows: Macroeconomic Causes and Consequences, pages 337-373, National Bureau of Economic Research, Inc.
    46. Ari, Ali, 2012. "Early warning systems for currency crises: The Turkish case," Economic Systems, Elsevier, vol. 36(3), pages 391-410.
    47. Dilip K. DAS, 2000. "Asian Crisis: Distilling Critical Lessons," UNCTAD Discussion Papers 152, United Nations Conference on Trade and Development.
    48. Bilge Erten & José Antonio Ocampo, 2017. "Macroeconomic Effects of Capital Account Regulations," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(2), pages 193-240, June.
    49. Zvika Neeman & Gerhard O. Orosel, 2001. "Credits, Crises, and Capital Controls: A Microeconomic Analysis," Vienna Economics Papers vie0103, University of Vienna, Department of Economics.
    50. Jie Li, 2007. "Examining the interactions of high reserves and weak fundamentals in currency crises," Applied Economics Letters, Taylor & Francis Journals, vol. 14(8), pages 617-621.
    51. Bussiere, Matthieu & Fratzscher, Marcel, 2006. "Towards a new early warning system of financial crises," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 953-973, October.
    52. Kristin J. Forbes, 1999. "How are shocks propagated internationally? Firm-level evidence from the Russian and East Asian crises," Proceedings, Federal Reserve Bank of San Francisco, issue Sep.
    53. Aaron Tornell, 2003. "Soft Landings (February 2000), with Martin Schneider," UCLA Economics Online Papers 241, UCLA Department of Economics.
    54. Andrew Berg & Catherine Pattillo, 1999. "Are Currency Crises Predictable? A Test," IMF Staff Papers, Palgrave Macmillan, vol. 46(2), pages 1-1.
    55. Rashmi Shankar, 2007. "Balance Sheet Effects, Growth, and Crises," Review of International Economics, Wiley Blackwell, vol. 15(4), pages 720-734, September.
    56. Beng, Gan Wee, 2000. "Exchange-rate policy in East Asia after the fall: how much have things changed?," Journal of Asian Economics, Elsevier, vol. 11(4), pages 403-430.
    57. Percival Pineda, 2017. "Financial liberalization and private sector borrowing in ASEAN 4 economies 1990–2012," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 7(2), pages 277-295, August.
    58. Mr. Abdul d Abiad, 2003. "Early Warning Systems: A Survey and a Regime-Switching Approach," IMF Working Papers 2003/032, International Monetary Fund.
    59. Marek Dabrowski, 2002. "Currency Crises in Emerging - Market Economis: Causes, Consequences and Policy Lessons," CASE Network Reports 0051, CASE-Center for Social and Economic Research.
    60. Khan, Saleheen, 2018. "Currency Crisis Transmission Through Trade Channel: Asian and Mexican Crises Revisited," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 33(4), pages 818-840.
    61. Mark Illing & Ying Liu, 2003. "An Index of Financial Stress for Canada," Staff Working Papers 03-14, Bank of Canada.
    62. Jeffrey A. Frankel & George Saravelos, 2010. "Are Leading Indicators of Financial Crises Useful for Assessing Country Vulnerability? Evidence from the 2008-09 Global Crisis," NBER Working Papers 16047, National Bureau of Economic Research, Inc.
    63. Hashimoto, Yuko, 2003. "An empirical test of likelihood and timing of speculative attacks: the case of Malaysia and Singapore," Japan and the World Economy, Elsevier, vol. 15(2), pages 245-259, April.

  22. Anne Krueger & Aaron Tornell, 1999. "The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98," NBER Working Papers 7042, National Bureau of Economic Research, Inc.

    Cited by:

    1. Talvi, Ernesto & Banerjee, Abhijit V., 2001. "Comments," LSE Research Online Documents on Economics 123255, London School of Economics and Political Science, LSE Library.
    2. Gabrisch, Hubert, 2014. "The binding constraint on growth in less developed Western Balkan countries," MPRA Paper 60018, University Library of Munich, Germany.
    3. Yuko Imura, 2014. "Credit Market Frictions and Sudden Stops," Staff Working Papers 14-49, Bank of Canada.
    4. Lukasz A. Drozd & Ricardo Serrano-Padial, 2018. "Financial Contracting with Enforcement Externalities," Working Papers 18-21, Federal Reserve Bank of Philadelphia.
    5. Akinola Ezekiel Morakinyo & Mabutho Sibanda, 2016. "The Determinants of Non-Performing Loans in the MINT Economies," Journal of Economics and Behavioral Studies, AMH International, vol. 8(5), pages 39-55.
    6. Michael P. Dooley & Sujata Verma, 2001. "Rescue Packages and Output Losses Following Crises," NBER Working Papers 8315, National Bureau of Economic Research, Inc.
    7. Gonzalo Castaneda, 2002. "Internal Capital Markets and Financing Choices of Mexican Firms Before and During the Financial Paralysis of 1995-2000," Research Department Publications 3146, Inter-American Development Bank, Research Department.
    8. Ashis Kumar Pradhan & Gourishankar S Hiremath, 2020. "Do external commercial borrowings and financial development affect exports?," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1796269-179, January.
    9. Aaron Tornell & Frank Westermann, 2005. "Boom-Bust Cycles and Financial Liberalization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262201593, December.
    10. Shajari , Parastoo & Shajari , Houshang, 2012. "Financial Soundness Indicators with Emphasis on Non-performing Loans in Iran's Banking System," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 6(3), pages 163-189, April.
    11. Carrasco, Vinicius & Salgado, Pablo, 2014. "Coordinated strategic defaults and financial fragility in a costly state verification model," Journal of Financial Intermediation, Elsevier, vol. 23(1), pages 129-139.
    12. Samaresh Bardhan & Rajesh Sharma & Vivekananda Mukherjee, 2019. "Threshold Effect of Bank-specific Determinants of Non-performing Assets: An Application in Indian Banking," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(1_suppl), pages 1-34, April.
    13. M. Ayhan Kose & Guy M. Meredith & Christopher M. Towe, 2005. "How Has NAFTA Affected the Mexican Economy? Review and Evidence," Springer Books, in: Rolf J. Langhammer & Lúcio Vinhas Souza (ed.), Monetary Policy and Macroeconomic Stabilization in Latin America, pages 35-81, Springer.
    14. Ambrosius, Christian, 2017. "What explains the speed of recovery from banking crises?," Journal of International Money and Finance, Elsevier, vol. 70(C), pages 257-287.
    15. Prema-chandra Athukorala & Juthathip Jongwanich, 2012. "How Effective are Capital Controls? Evidence from Malaysia," Departmental Working Papers 2012-16, The Australian National University, Arndt-Corden Department of Economics.
    16. Pierre-Olivier Gourinchas & Rodrigo Valdes & Oscar Landerretche, 2001. "Lending Booms: Latin America and the World," NBER Working Papers 8249, National Bureau of Economic Research, Inc.
    17. Jin, Jing & Liao, Rose C. & Loureiro, Gilberto, 2021. "The diverse effects of currency crises on multinational and local firms: The use of foreign currency debt," Journal of Multinational Financial Management, Elsevier, vol. 62(C).
    18. Aaron Tornell & Frank Westermann & Lorenza Martinez, 2003. "Liberalization, Growth, and Financial Crises: Lessons from Mexico and the Developing World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 1-112.
    19. Clemente Hernández Rodríguez, 2005. "Moral Hazard In Deposit Insurance: The Case Of Fobaproa," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 4(2), pages 101-113, Junio 200.
    20. Perez-Batres, Luis A. & Eden, Lorraine, 2008. "Is there a liability of localness? How emerging market firms respond to regulatory punctuations," Journal of International Management, Elsevier, vol. 14(3), pages 232-251, September.
    21. Timothy J. Kehoe & Kim J. Ruhl, 2010. "Why Have Economic Reforms in Mexico Not Generated Growth?," Journal of Economic Literature, American Economic Association, vol. 48(4), pages 1005-1027, December.
    22. Davide Furceri & Annabelle Mourougane, 2009. "Financial Crises: Past Lessons and Policy Implications," OECD Economics Department Working Papers 668, OECD Publishing.
    23. Mr. Magnus Saxegaard & Ms. Michaela Erbenova & Ms. Yan Liu, 2011. "Corporate and Household Debt Distress in Latvia: Strengthening the Incentives for Market-Based Approach to Debt Resolution," IMF Working Papers 2011/085, International Monetary Fund.
    24. Nannette Lindenberg & Frank Westermann, 2012. "How strong is the case for dollarization in Central America? An empirical analysis of business cycles, credit market imperfections and the exchange rate," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(2), pages 147-166, April.
    25. Stephen H. Haber & Aldo Musacchio, 2013. "These Are the Good Old Days: Foreign Entry and the Mexican Banking System," NBER Working Papers 18713, National Bureau of Economic Research, Inc.
    26. Atiti, Faith & Kimani, Stephanie & Agung, Raphael, 2022. "Macroeconomic shocks and cedit risk in the Kenyan banking sector," KBA Centre for Research on Financial Markets and Policy Working Paper Series 58, Kenya Bankers Association (KBA).
    27. Prema-chandra Athukorala, 2003. "FDI in Crisis and Recovery: Lessons from the 1997-98 Asian Crisis," Departmental Working Papers 2003-04, The Australian National University, Arndt-Corden Department of Economics.
    28. Mr. Marco Terrones & Mr. Luis Catão, 2000. "Determinants of Dollarization: The Banking Side," IMF Working Papers 2000/146, International Monetary Fund.

  23. Lane, Philip R. & Tornell, Aaron, 1998. "Voracity and Growth," CEPR Discussion Papers 2001, C.E.P.R. Discussion Papers.

    Cited by:

    1. Tornell, Aaron, 1999. "Voracity and growth in discrete time," Economics Letters, Elsevier, vol. 62(1), pages 139-145, January.
    2. Tsani, Stella, 2013. "Natural resources, governance and institutional quality: The role of resource funds," Resources Policy, Elsevier, vol. 38(2), pages 181-195.
    3. Konrad, Kai A., 2001. "Investment in the Absence of Property Rights: The Role of Incumbency Advantages," CEPR Discussion Papers 3050, C.E.P.R. Discussion Papers.
    4. Rodrik, Dani, 2000. "Institutions For High-Quality Growth: What They Are And How To Acquire Them," CEPR Discussion Papers 2370, C.E.P.R. Discussion Papers.
    5. Ghulam Shabbir & Mumtaz Anwar, 2007. "Determinants of Corruption in Developing Countries," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 751-764.
    6. Frankel, Jeffrey A., 2010. "Are Bilateral Remittances Countercyclical?," Scholarly Articles 4450131, Harvard Kennedy School of Government.
    7. Frankel, Jeffrey A., 2011. "A Comparison of Product Price Targeting and Other Monetary Anchor Options for Commodity Exporters in Latin America," Scholarly Articles 9642641, Harvard Kennedy School of Government.
    8. Lane, Philip R. & Tornell, Aaron, 1998. "Why aren't savings rates in Latin America procyclical?," Journal of Development Economics, Elsevier, vol. 57(1), pages 185-199, October.
    9. Tenryu, Yohei, 2013. "The Role of the Private Sector under Insecure Property Rights," MPRA Paper 74893, University Library of Munich, Germany, revised 27 Oct 2016.
    10. Alberto Alesina & Guido Tabellini, 2005. "Why is Fiscal Policy often Procyclical?," CESifo Working Paper Series 1556, CESifo.
    11. Singh, Rupinder & Laurila, Juhani, 1999. "Azerbaijan: Recent economic developments and policy issues in sustainability of growth," BOFIT Discussion Papers 5/1999, Bank of Finland Institute for Emerging Economies (BOFIT).
    12. Michael Gavin & Roberto Perotti, 1997. "Fiscal Policy in Latin America," NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 11-72, National Bureau of Economic Research, Inc.
    13. Aaron Tornell, 1999. "Privatizing the Privatized," NBER Working Papers 7206, National Bureau of Economic Research, Inc.
    14. Saracoglu, Durdane Sirin, 2003. "On The Size And The Evolution Of The Informal Sector In Developing Countries: The Case Of Turkey," 2003 Annual meeting, July 27-30, Montreal, Canada 22211, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Abidemi C. Adegboye & Joel Edafe & Samuel Iweriebor, 2016. "Budget And Political Institutions And Budgetary Performance," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 72-82, September.
    16. Javier J. Perez & Ana Lamo & Ludger Schuknecht, 2007. "The Cyclicality of Consumption, Wages and Employment of the Public Sector in the Euro Area," EcoMod2007 23900062, EcoMod.
    17. Ian W. McLean & Alan M. Taylor, 2001. "Australian growth: a California perspective," Pacific Basin Working Paper Series 2001-06, Federal Reserve Bank of San Francisco.
    18. Frankel, Jeffrey, 2010. "The Natural Resource Curse: A Survey," Working Paper Series rwp10-005, Harvard University, John F. Kennedy School of Government.
    19. Xavier Sala-i-Martin & Arvind Subramanian, 2003. "Addressing the Natural Resource Curse: An Illustration from Nigeria," NBER Working Papers 9804, National Bureau of Economic Research, Inc.
    20. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520, Elsevier.
    21. Israa A. El Husseiny, 2018. "On the Cyclical Behavior of Fiscal Policy in Egypt," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 12(1), March.
    22. Robert Lavigne, 2006. "The Institutional and Political Determinants of Fiscal Adjustment," Staff Working Papers 06-1, Bank of Canada.
    23. Jayoti Das & Cassandra DiRienzo, 2009. "The Nonlinear Impact Of Globalization On Corruption," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 3(2), pages 33-46.
    24. World Bank, 2003. "Nigeria - Policy Options for Growth and Stability : Volume 1. Main Report," World Bank Publications - Reports 14388, The World Bank Group.
    25. Asea, Patrick K. & Lahiri, Amartya, 1999. "The precious bane," Journal of Economic Dynamics and Control, Elsevier, vol. 23(5-6), pages 823-849, April.
    26. Jeffrey A. Frankel, 2010. "A Comparison of Monetary Anchor Options, Including Product Price Targeting, for Commodity-Exporters in Latin America," NBER Working Papers 16362, National Bureau of Economic Research, Inc.
    27. Tavares, José & Larrain B., Felipe, 2007. "Can Openness Deter Corruption? The Role of Foreign Direct Investment," CEPR Discussion Papers 6488, C.E.P.R. Discussion Papers.
    28. Ms. Katerina Kalcheva & Nienke Oomes, 2007. "Diagnosing Dutch Disease: Does Russia Have the Symptoms?," IMF Working Papers 2007/102, International Monetary Fund.
    29. Felipe Larraín & José Tavares, 2004. "Does Foreign Direct Investment Decrease Corruption?," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 41(123), pages 217-230.
    30. Carmignani, Fabrizio & Chowdhury, Abdur, 2010. "The Role of Primary Commodities in Economic Development: Sub-Saharan Africa versus Rest of the World," Working Papers and Research 2010-01, Marquette University, Center for Global and Economic Studies and Department of Economics.
    31. Tsani, Stella, 2015. "On the relationship between resource funds, governance and institutions: Evidence from quantile regression analysis," Resources Policy, Elsevier, vol. 44(C), pages 94-111.

  24. Tornell, A., 1998. "Reform from Within," Papers 650, Harvard - Institute for International Development.

    Cited by:

    1. M. Ayhan Kose & Eswar S. Prasad & Marco E. Terrones, 2004. "How do trade and financial integration affect the relationship between growth and volatility?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    2. Nauro Campos & Cheng Hsiao & Jeffrey Nugent, 2010. "Crises, What Crises? New Evidence on the Relative Roles of Political and Economic Crises in Begetting Reforms," Journal of Development Studies, Taylor & Francis Journals, vol. 46(10), pages 1670-1691.
    3. Bennani, Hamza, 2015. "Dissecting the brains of central bankers: the case of the ECB's Governing Council members on reforms," MPRA Paper 62371, University Library of Munich, Germany.
    4. Pushan Dutt & Devashish Mitra, 2008. "Inequality and the Instability of Polity and Policy," Economic Journal, Royal Economic Society, vol. 118(531), pages 1285-1314, August.
    5. Gabriella Montinola & Ramon Moreno, 2001. "The political economy of foreign bank entry and its impact: theory and a case study," Pacific Basin Working Paper Series 2001-11, Federal Reserve Bank of San Francisco.
    6. Campos, Nauro & Hsiao, Cheng & Nugent, Jeffrey B, 2006. "Crises, What Crises?," CEPR Discussion Papers 5805, C.E.P.R. Discussion Papers.
    7. Natasa Bilkic & Thomas Gries, 2014. "Uncertainty and Conflict Decision," Working Papers CIE 78, Paderborn University, CIE Center for International Economics.
    8. Romain Wacziarg & Karen Horn Welch, 2003. "Trade Liberalization and Growth: New Evidence," NBER Working Papers 10152, National Bureau of Economic Research, Inc.
    9. Mr. Ashoka Mody & Mr. Abdul d Abiad, 2005. "Financial Reform: What Shakes It? What Shapes It?," IMF Economic Issues 2005/004, International Monetary Fund.
    10. Rod Falvey & Neil Foster & David Greenaway, 2008. "Trade Liberalisation, Economic Crises and Growth," Discussion Papers 08/14, University of Nottingham, GEP.
    11. Bellak, Christian & Leibrecht, Markus, 2019. "The Association of Economic Crises and Investor-State Arbitration Cases," Department of Economics Working Paper Series 284, WU Vienna University of Economics and Business.
    12. Agnello, Luca & Castro, Vitor & Jalles, João Tovar & Sousa, Ricardo M., 2015. "What determines the likelihood of structural reforms?," European Journal of Political Economy, Elsevier, vol. 37(C), pages 129-145.
    13. Roy, Martin, 2010. "Endowments, power, and democracy: Political economy of multilateral commitments on trade in services," WTO Staff Working Papers ERSD-2010-11, World Trade Organization (WTO), Economic Research and Statistics Division.
    14. S. Brock Blomberg & Gregory D. Hess & Akila Weerapana, 2004. "An Economic Model of Terrorism," Conflict Management and Peace Science, Peace Science Society (International), vol. 21(1), pages 17-28, February.
    15. Witold J. Henisz & Bennet A. Zelner & Mauro F. Guillen, 2004. "International Coercion, Emulation and Policy Diffusion: Market-Oriented Infrastructure Reforms, 1977-1999," William Davidson Institute Working Papers Series 2004-713, William Davidson Institute at the University of Michigan.
    16. Mauro Caselli, 2008. "Does wealth inequality reduce the gains from trade?," CSAE Working Paper Series 2008-30, Centre for the Study of African Economies, University of Oxford.
    17. Veldkamp, Laura, 2009. "Learning about reform: Time-varying support for structural adjustment," International Review of Economics & Finance, Elsevier, vol. 18(2), pages 192-206, March.
    18. Renee Bowen & Vincent Anesi, 2018. "Policy Experimentation, Redistribution and Voting Rules," NBER Working Papers 25033, National Bureau of Economic Research, Inc.
    19. Wacziarg, Romain & Wallack, Jessica Seddon, 2004. "Trade liberalization and intersectoral labor movements," Journal of International Economics, Elsevier, vol. 64(2), pages 411-439, December.
    20. Kentaro Katayama, 2008. "Delay in Fiscal Reform," Microeconomics Working Papers 23075, East Asian Bureau of Economic Research.
    21. Drautzburg, Thorsten & Melnykovska, Inna & Schweickert, Rainer, 2008. "Which membership matters? External vs. internal determinants of institutional change in transition countries," Kiel Working Papers 1421, Kiel Institute for the World Economy (IfW Kiel).
    22. Bilkic, Natasa & Gries, Thomas, 2012. "When to Attack an Oppressive Government?," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62031, Verein für Socialpolitik / German Economic Association.
    23. Blomberg, S. Brock & Hess, Gregory D. & Weerapana, Akila, 2004. "Economic conditions and terrorism," European Journal of Political Economy, Elsevier, vol. 20(2), pages 463-478, June.
    24. Robert Yarbrough, 2006. "Book Review: Thrainn Eggertsson. 2005. Imperfect Institutions: Possibilities and Limits of Reform. The University of Michigan Press, Ann Arbor, MI. vi + 272 pp. Cloth: $65.00; Paper: $27.95," Journal of Bioeconomics, Springer, vol. 8(1), pages 85-90, April.
    25. Alam Khan & Mario Estrada & Zarinah Yusof, 2016. "How terrorism affects the economic performance? The case of Pakistan," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(2), pages 867-883, March.

  25. Lane, P.R. & Tornell, A., 1998. "Why Aren't Savings Rates in Latin America Procyclical?," Papers 642, Harvard - Institute for International Development.

    Cited by:

    1. Ernesto Talvi & Carlos A. Vegh, 2000. "Tax Base Variability and Procyclical Fiscal Policy," NBER Working Papers 7499, National Bureau of Economic Research, Inc.
    2. Aghion, Philippe & Marinescu, Ioana, 2007. "Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data?," Scholarly Articles 3350066, Harvard University Department of Economics.
    3. Sorensen, Bent E. & Wu, Lisa & Yosha, Oved, 2001. "Output fluctuations and fiscal policy: U.S. state and local governments 1978-1994," European Economic Review, Elsevier, vol. 45(7), pages 1271-1310.
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  29. Pierre-Olivier Gourinchas & Aaron Tornell, 1996. "Exchange Rate Dynamics and Learning," NBER Working Papers 5530, National Bureau of Economic Research, Inc.

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    1. Jon Faust & John H. Rogers, 1999. "Monetary policy's role in exchange rate behavior," International Finance Discussion Papers 652, Board of Governors of the Federal Reserve System (U.S.).
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    7. Aaron Tornell, 2003. "Robust-H_infinity Forecasting and Asset Pricing Anomalies (December 2001)," UCLA Economics Online Papers 237, UCLA Department of Economics.
    8. Øyvind Eitrheim & Jan Fredrik Qvigstad, 2024. "Norway’s Road to Inflation Targeting: Overcoming the Fear of Floating," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 66(3), pages 482-534, September.

  30. Aaron Tornell & Gerardo Esquivel, 1995. "The Political Economy of Mexico's Entry to NAFTA," NBER Working Papers 5322, National Bureau of Economic Research, Inc.

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    3. M. Ayhan Kose & Guy M. Meredith & Christopher M. Towe, 2005. "How Has NAFTA Affected the Mexican Economy? Review and Evidence," Springer Books, in: Rolf J. Langhammer & Lúcio Vinhas Souza (ed.), Monetary Policy and Macroeconomic Stabilization in Latin America, pages 35-81, Springer.
    4. Escobar Gamboa, Octavio Romano, 2009. "IDE entrants, exportations et productivité manufacturière : les différentes performances des régions mexicaines," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/3850 edited by Guillochon, Bernard.
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    7. Antonis Adam & Thomas Moutos, 2002. "The Political Economy of EU Enlargement: Or, Why Japan is not a Candidate Country?," CESifo Working Paper Series 704, CESifo.
    8. Aaron Tornell & Frank Westermann & Lorenzo Martinez, 2004. "Nafta and Mexico Less-than-Steller Performance," UCLA Economics Working Papers 833, UCLA Department of Economics.
    9. Iacovone, Leonardo, 2012. "The better you are the stronger it makes you: Evidence on the asymmetric impact of liberalization," Journal of Development Economics, Elsevier, vol. 99(2), pages 474-485.
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    11. Édgard Moncayo Jiménez, 2006. "Relaciones entre democracia y desarrollo en los países andinos. Una reflexión desde la economía política," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 8(14), pages 167-190, January-J.
    12. Atolia, Manoj & Yoshinori, Kurokawa, 2008. "Variety Trade and Skill Premium in a Calibrated General Equilibrium Model: The Case of Mexico," MPRA Paper 13698, University Library of Munich, Germany.
    13. Waldkirch, Andreas, 2006. "The ‘New Regionalism’: Integration as a Commitment Device for Developing Countries," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 21, pages 397-425.
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  31. Tornell, Aaron & Velasco, Andres, 1995. "Fixed Versus Flexible Exchange Rates: Which Provides More Fiscal Discipline," Working Papers 95-06, C.V. Starr Center for Applied Economics, New York University.

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    6. Yenner Altunbas & John Thornton, 2015. "Why do countries adopt fiscal rules?," Working Papers 15006, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
    7. Guillermo Javier Vúletin, 2002. "Regímenes Cambiarios y Performance Fiscal ¿Generan los Regímenes Fijos Mayor Disciplina que los Flexibles?," IIE, Working Papers 042, IIE, Universidad Nacional de La Plata.
    8. Jesper Rangvid, 2007. "The Effects of Temporary Exchange-Rate-Based Stabilizations when Money Serves a Productive Role," Open Economies Review, Springer, vol. 18(4), pages 453-477, September.
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    12. Graciela L Kaminsky, 2010. "Terms of Trade Shocks and Fiscal Cycles," RBA Annual Conference Volume (Discontinued), in: Renée Fry & Callum Jones & Christopher Kent (ed.),Inflation in an Era of Relative Price Shocks, Reserve Bank of Australia.
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    109. Alberto Bagnai & Christian Alexander Mongeau Ospina, 2014. "The impact of an exchange rate realignment on the trade balance: Euro vs. national currency - Some preliminary results with a/simmetrie model of the Italian economy," a/ Policy Briefs Series 1401, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    110. Ibrahim Elbadawi & Mohamed Goaied & Moez Ben Tahar, 2017. "Fiscal- Monetary Interdependence and Exchange Rate Regimes in Oil Dependent Arab Economies," Working Papers 1116, Economic Research Forum, revised 07 Jun 2017.
    111. Jocelyne Zoumenou, 2023. "On the impact of fiscal policy on inflation: The case of fiscal rules," EconomiX Working Papers 2023-21, University of Paris Nanterre, EconomiX.
    112. Andres Velasco, 1996. "When Are Fixed Exchange Rates Really Fixed?," NBER Working Papers 5842, National Bureau of Economic Research, Inc.
    113. Coulibaly, Issiaka & Davis, Junior, 2013. "Exchange rate regimes and economic performance: Does CFA zone membership benefit their economies?," MPRA Paper 54075, University Library of Munich, Germany.
    114. Sell, Friedrich L., 2004. "Währungspolitik im Dienste von Entwicklung: Immer noch ein Forschungsprogramm!," Working Papers in Economics 2004,2, Bundeswehr University Munich, Economic Research Group.
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    116. Blaise Gadanecz & Aaron Mehrotra, 2013. "The exchange rate, real economy and financial markets," BIS Papers chapters, in: Bank for International Settlements (ed.), Sovereign risk: a world without risk-free assets?, volume 73, pages 11-23, Bank for International Settlements.
    117. Atish R. Ghosh & Anne-Marie Gulde & Holger C. Wolf, 2003. "Exchange Rate Regimes: Choices and Consequences," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262072408, December.
    118. Velasco, Andres, 1997. "When are fixed exchange rates really fixed?," Journal of Development Economics, Elsevier, vol. 54(1), pages 5-25, October.
    119. Michael Kumhof & Irina Yakadina, 2017. "Government Debt Bias," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(4), pages 675-703, November.
    120. Philipp Paulus, 2004. "The fiscal stability impact of monetary unions - looking beneath the Stability Pact debate," Otto-Wolff-Institut Discussion Paper Series 05/2004, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.
    121. Minea, Alexandru & Tapsoba, René, 2014. "Does inflation targeting improve fiscal discipline?," Journal of International Money and Finance, Elsevier, vol. 40(C), pages 185-203.
    122. Guillermo J. Vuletin, 2004. "Exchange Rate Regimes And Fiscal Performance. Do Fixed Exchange Rate Regimes Generate More Discipline Than Flexible Ones?," Econometric Society 2004 North American Winter Meetings 474, Econometric Society.
    123. Ms. Janet Gale Stotsky & Mr. Manuk Ghazanchyan & Mr. Olumuyiwa S Adedeji & Mr. Nils O Maehle, 2012. "The Relationship Between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa," IMF Working Papers 2012/148, International Monetary Fund.
    124. Hochreiter, Eduard & Siklos, Pierre L., 2002. "Alternative exchange-rate regimes: The options for Latin America," The North American Journal of Economics and Finance, Elsevier, vol. 13(3), pages 195-211, December.
    125. Federico Sturzenegger, 2019. "Macri´s Macro: The meandering road to stability and growth," Working Papers 135, Universidad de San Andres, Departamento de Economia, revised Oct 2019.
    126. Mahvash S Qureshi & Mr. Atish R. Ghosh & Mr. Charalambos G Tsangarides, 2011. "Words vs. Deeds: What Really Matters?," IMF Working Papers 2011/112, International Monetary Fund.
    127. Kamleshan Pillay & Jorge E. Viñuales, 2016. "“Monetary” rules for a linked system of offset credits," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 16(6), pages 933-951, December.

  32. Philip R. Lane & Aaron Tornell, 1995. "Power Concentration and Growth," Harvard Institute of Economic Research Working Papers 1720, Harvard - Institute of Economic Research.

    Cited by:

    1. Cappelli, Federica & Carnazza, Giovanni & Vellucci, Pierluigi, 2023. "Crude oil, international trade and political stability: Do network relations matter?," Energy Policy, Elsevier, vol. 176(C).
    2. Ronald Fischer, 2001. "Trade Liberalization, Development and Government Policy in Chile," Documentos de Trabajo 102, Centro de Economía Aplicada, Universidad de Chile.
    3. Stijns, Jean-Philippe C., 2001. "Natural Resource Abundance And Economic Growth Revisited," Berkeley Economics Dissertations-in-Progress Series 25127, University of California, Berkeley, Department of Agricultural and Resource Economics.
    4. Usui, Norio, 1997. "Dutch disease and policy adjustments to the oil boom: a comparative study of Indonesia and Mexico," Resources Policy, Elsevier, vol. 23(4), pages 151-162, December.
    5. Jakob Svensson, 2000. "Foreign aid and rent-seeking," Springer Books, in: Roger D. Congleton & Kai A. Konrad & Arye L. Hillman (ed.), 40 Years of Research on Rent Seeking 2, pages 165-189, Springer.
    6. Mohsen Mehrara, Mohsen & Alhosseini, Seyedmohammadsadegh & Bahramirad, Duman, 2008. "Resource curse and institutional quality in oil countries," MPRA Paper 16456, University Library of Munich, Germany, revised Mar 2009.
    7. Mohammad Ali MORADI, 2009. "Oil Resource Abundance, Economic Growth,and Income Distribution in Iran," EcoMod2009 21500069, EcoMod.
    8. Stilwell, L. C. & Minnitt, R. C. A. & Monson, T. D. & Kuhn, G., 2000. "An input-output analysis of the impact of mining on the South African economy," Resources Policy, Elsevier, vol. 26(1), pages 17-30, March.
    9. Pessoa, Argentino, 2008. "Natural resources and institutions: the “natural resources curse” revisited," MPRA Paper 8640, University Library of Munich, Germany.
    10. Bibi, Samuele, 2024. "Oil revenues, FDI and balance of payment dynamics: The case of Kazakhstan between the supercycle commodity boom and financial subordination," Resources Policy, Elsevier, vol. 90(C).

  33. Tornell, Aaron & Velasco, Andres, 1995. "Money-Based Versus Exchange Rate-Based Stabilization with Endogenous Fiscal Policy," Working Papers 95-21, C.V. Starr Center for Applied Economics, New York University.

    Cited by:

    1. Juan Carlos Echeverry & Leopoldo Fergusson & Pablo Querubín, 2005. "Budget Inflexibility," Documentos CEDE 2070, Universidad de los Andes, Facultad de Economía, CEDE.
    2. Guillermo Javier Vúletin, 2002. "Regímenes Cambiarios y Performance Fiscal ¿Generan los Regímenes Fijos Mayor Disciplina que los Flexibles?," IIE, Working Papers 042, IIE, Universidad Nacional de La Plata.
    3. Juan Carlos Echeverry & Leopoldo Fergusson & Pablo Querubin, 2004. "La Batalla Política Por El Presupuesto De La Nación: Inflexibilidades O Supervivencia Fiscal," Documentos CEDE 2944, Universidad de los Andes, Facultad de Economía, CEDE.
    4. Mr. A. J Hamann & Mr. Alessandro Prati, 2002. "Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions," IMF Working Papers 2002/228, International Monetary Fund.
    5. Eugenio Diaz Bonilla & Hector E. Schamis, 1999. "The Political Economy of Exchange Rate Policies in Argentina," Research Department Publications 3078, Inter-American Development Bank, Research Department.
    6. Lucotte, Yannick, 2012. "Adoption of inflation targeting and tax revenue performance in emerging market economies: An empirical investigation," Economic Systems, Elsevier, vol. 36(4), pages 609-628.
    7. Dalia Grigonyté, 2003. "Impact of Currency Boards on Fiscal Policy in Central and Eastern European Countries," Economic Change and Restructuring, Springer, vol. 36(2), pages 111-133, June.
    8. Eugenio Diaz Bonilla & Hector E. Schamis, 1999. "La economía política de las políticas de cambio en Argentina," Research Department Publications 3079, Inter-American Development Bank, Research Department.
    9. Juan Carlos Echeverry & Jorge Alexander Bonilla & Andrés Moya, 2006. "Rigideces Institucionales Y Flexibilidad Presupuestaria: Los Casos De Argentina, Colombia, México Y Perú," Documentos CEDE 3475, Universidad de los Andes, Facultad de Economía, CEDE.
    10. Özlem Aytaç, 2017. "Exchange Rate-Based Stabilizations: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 815-830, July.
    11. Canavan, Chris & Tommasi, Mariano, 1997. "On the credibility of alternative exchange rate regimes," Journal of Development Economics, Elsevier, vol. 54(1), pages 101-122, October.
    12. Chris Canavan & Mariano Tommasi, 1997. "Visibility and Credibility in the Political Economy of Reform," Boston College Working Papers in Economics 346., Boston College Department of Economics.
    13. Tomás Marinozzi & Mariano Fernández, 2020. "Una breve revisón sobre la literatura de las metas de inflación," CEMA Working Papers: Serie Documentos de Trabajo. 755, Universidad del CEMA.
    14. Echeverry, Juan Carlos & Bonilla, Jorge Alexander & Moya, Andrés, 2006. "Rigideces Institucionales y Flexibilidad Presupuestaria: Origen, Motivación y Efectos sobre el Presupuesto," IDB Publications (Working Papers) 2303, Inter-American Development Bank.
    15. Andres Velasco, 1997. "Debts and Deficits with Fragmented Fiscal Policymaking," NBER Working Papers 6286, National Bureau of Economic Research, Inc.
    16. Guillermo J. Vuletin, 2004. "Exchange Rate Regimes And Fiscal Performance. Do Fixed Exchange Rate Regimes Generate More Discipline Than Flexible Ones?," Econometric Society 2004 North American Winter Meetings 474, Econometric Society.
    17. Mr. Vladimir Klyuev, 2001. "A Model of Exchange Rate Regime Choice in the Transitional Economies of Central and Eastern Europe," IMF Working Papers 2001/140, International Monetary Fund.
    18. Hanns-Dieter Jacobsen et. al, 2004. "Economic, Political, Institutional as well as Social Risks and Opportunities of EMU Enlargement," Eastward Enlargement of the Euro-zone Working Papers wp22, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Jun 2004.
    19. Christian H. Fahrholz, 2007. "Bargaining for Costs of Convergence in the Exchange-Rate Mechanism II," Journal of Theoretical Politics, , vol. 19(2), pages 193-214, April.

  34. Aaron Tornell, 1995. "Economic Growth and Decline with Endogenous Property Rights," Harvard Institute of Economic Research Working Papers 1739, Harvard - Institute of Economic Research.

    Cited by:

    1. Ngo Van Long & Gerhard Sorger, 2004. "Insecure Property Rights and Growth: The Roles of Appropriation Costs, Wealth Effects, and Heterogeneity," CESifo Working Paper Series 1253, CESifo.
    2. Falkinger, Josef & Grossmann, Volker, 2004. "Institutions and Development: The Interaction between Trade Regime and Political System," IZA Discussion Papers 1242, Institute of Labor Economics (IZA).
    3. Jan U. Auerbach & Costas Azariadis, 2015. "Property Rights, Governance, and Economic Development," Review of Development Economics, Wiley Blackwell, vol. 19(2), pages 210-220, May.
    4. Congdon Fors, Heather & Olsson, Ola, 2007. "Endogenous institutional change after independence," European Economic Review, Elsevier, vol. 51(8), pages 1896-1921, November.
    5. Persson, Torsten & Tabellini, Guido, 1997. "Political Economics and Macroeconomic Policy," CEPR Discussion Papers 1759, C.E.P.R. Discussion Papers.
    6. Hakobyan, Zaruhi & Koulovatianos, Christos, 2019. "Symmetric Markovian games of commons with potentially sustainable endogenous growth," CFS Working Paper Series 638, Center for Financial Studies (CFS).
    7. Tenryu, Yohei, 2013. "The Role of the Private Sector under Insecure Property Rights," MPRA Paper 74893, University Library of Munich, Germany, revised 27 Oct 2016.
    8. Andreas Irmen & Johanna Kuehnel, 2011. "Property Rights, Optimal Public Enforcement, and Growth," CESifo Working Paper Series 3668, CESifo.
    9. Mehrdad Vahabi, 2009. "A Critical Review of Strategic Conflict Theory and Socio-political Instability Models," Revue d'économie politique, Dalloz, vol. 119(6), pages 817-858.
    10. Gall, Thomas & Masella, Paolo, 2011. "Markets and Jungles," Proceedings of the German Development Economics Conference, Berlin 2011 30, Verein für Socialpolitik, Research Committee Development Economics.
    11. Joshua Ang & Jason C. Patalinghug, 2021. "Property rights and economic growth: A dynamic GMM analysis," Economics Bulletin, AccessEcon, vol. 41(3), pages 1387-1398.
    12. François Facchini & Elena Seghezza, 2018. "Public spending structure, minimal state and economic growth in France (1870–2010)," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01724097, HAL.
    13. Sylwester, Kevin, 2001. "A model of institutional formation within a rent seeking environment," Journal of Economic Behavior & Organization, Elsevier, vol. 44(2), pages 169-176, February.
    14. POPKOVA, Elena, 2014. "New Prospects Of Economic Growth In Context Of Underdevelopment Whirlpools Phenomena," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 14(1), pages 5-20.
    15. James Fenske, 2012. "Imachi Nkwu: Trade and the commons," CSAE Working Paper Series 2012-19, Centre for the Study of African Economies, University of Oxford.
    16. van der Ploeg, Frederick, 2018. "Political economy of dynamic resource wars," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 765-782.
    17. Diego Aboal, 2020. "Electoral systems and economic growth," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 37(3), pages 781-805, October.
    18. Paul J. Zak, 2002. "Institutions, Property Rights, and Growth," Recherches économiques de Louvain, De Boeck Université, vol. 68(1), pages 55-73.
    19. Van Long, Ngo, 2013. "The theory of contests: A unified model and review of the literature," European Journal of Political Economy, Elsevier, vol. 32(C), pages 161-181.
    20. Thomas Gall & Paolo Masella, 2007. "A Tale of Markets and Jungles in a Simple Model of Growth," JEPS Working Papers 07-004, JEPS.
    21. Turnbull, Geoffrey K., 2004. "Development moratoria," Journal of Housing Economics, Elsevier, vol. 13(3), pages 155-169, September.
    22. Chris Papageorgiou & Geoffrey K. Turnbull, 2005. "Economic Development and Property Rights: Time Limits on Land Ownership," Economic Development Quarterly, , vol. 19(3), pages 271-283, August.
    23. Bénabou, Roland, 1996. "Inequality and Growth," CEPR Discussion Papers 1450, C.E.P.R. Discussion Papers.
    24. Alejandro Diaz Bautista & Mauro Diaz Dominguez, 2004. "Capital Humano y Crecimiento Económico en México (1970-2000). Human Capital and Economic Growth in Mexico," Urban/Regional 0405008, University Library of Munich, Germany.
    25. Oguzhan Dincer & Christopher Ellis, 2005. "Predation, Protection, and Accumulation: Endogenous Property Rights in an Overlapping Generations Growth Model," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 12(4), pages 435-455, August.
    26. Frederick van der Ploeg, 2017. "Rapacious Oil Exploration in face of Regime Switches: Breakthrough Renewable Energy and Dynamic Resource Wars," Development Working Papers 415, Centro Studi Luca d'Agliano, University of Milano.
    27. Chang, Roberto, 1998. "Political party negotiations, income distribution, and endogenous growth," Journal of Monetary Economics, Elsevier, vol. 41(2), pages 227-255, April.
    28. Gradstein, Mark, 2003. "Governance and economic growth," Policy Research Working Paper Series 3098, The World Bank.
    29. Svensson, Jakob, 1997. "Collusion Among Interest Grops: Foreign Aid and Rent Dissipation," Seminar Papers 610, Stockholm University, Institute for International Economic Studies.
    30. Bharat Goel & Arijit Sen, 2019. "Appropriative Conflicts and the Evolution of Property Rights," Working Papers tax-mpg-rps-2019-06, Max Planck Institute for Tax Law and Public Finance.
    31. David Cuberes & Michał Jerzmanowski, 2009. "Democracy, Diversification and Growth Reversals," Economic Journal, Royal Economic Society, vol. 119(540), pages 1270-1302, October.
    32. Geoffrey K. Turnbull, 2002. "Land Development under the Threat of Taking," Southern Economic Journal, John Wiley & Sons, vol. 69(2), pages 290-308, October.
    33. Tjasa Redek & Uros Godnov, 2007. "The Impact of Governance Quality on Economic Growth," Management, University of Primorska, Faculty of Management Koper, vol. 2(2), pages 121-136.
    34. Ngo Van Long & Fabien Prieur & Klarizze Puzon & Mabel Tidball, 2013. "Markov Perfect Equilibria in Differential Games with Regime Switching Strategies," Working Papers 13-06, LAMETA, Universtiy of Montpellier, revised Jan 2014.
    35. Gradstein, Mark, 2004. "Governance and growth," Journal of Development Economics, Elsevier, vol. 73(2), pages 505-518, April.
    36. Eicher, Theo & García-Peñalosa, Cecilia, 2008. "Endogenous strength of intellectual property rights: Implications for economic development and growth," European Economic Review, Elsevier, vol. 52(2), pages 237-258, February.
    37. Roland Hodler, 2007. "Rent seeking and aid effectiveness," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 14(5), pages 525-541, October.
    38. Ceyhun Haydaroglu, 2015. "The Relationship between Property Rights and Economic Growth: an Analysis of OECD and EU Countries," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 4, pages 217-239, December.
    39. Zak, Paul J. & Feng, Yi, 2003. "A dynamic theory of the transition to democracy," Journal of Economic Behavior & Organization, Elsevier, vol. 52(1), pages 1-25, September.
    40. Yohei Tenryu, 2017. "The role of the private sector under insecure property rights," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 64(3), pages 285-311, September.
    41. Hamada, K. & Sakuragawa, M., 1993. "Capital Flight, North-South Lending, and Stages of economic Development," Papers 682, Yale - Economic Growth Center.
    42. Roland Hodler, 2004. "Redistribution to Rent Seekers, Foreign Aid and Economic Growth," Diskussionsschriften dp0406, Universitaet Bern, Departement Volkswirtschaft.
    43. Sakuragawa, Masaya & Hamada, Koichi, 2001. "Capital Flight, North-South Lending and Stages of Economic Development," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(1), pages 1-24, February.
    44. Saida Daly & Mohamed Frikha, 2016. "Banks and economic growth in developing countries: What about Islamic banks?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1168728-116, December.
    45. Long, Ngo Van & Prieur, Fabien & Tidball, Mabel & Puzon, Klarizze, 2017. "Piecewise closed-loop equilibria in differential games with regime switching strategies," Journal of Economic Dynamics and Control, Elsevier, vol. 76(C), pages 264-284.
    46. Paul J. ZAK, 2002. "Institutions, Property Rights and Growth," Discussion Papers (REL - Recherches Economiques de Louvain) 2002014, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    47. Gradstein, Mark, 2002. "Governance and Growth," CEPR Discussion Papers 3270, C.E.P.R. Discussion Papers.

  35. Sachs, Jeffrey & Tornell, Aaron & Velasco, Andres, 1995. "The Collapse of the Mexican Peso: What Have We Learned?," Working Papers 95-22, C.V. Starr Center for Applied Economics, New York University.

    Cited by:

    1. Herrera, Santiago, 2000. "Determinantes y composición del endeudamiento público en Colombia," IDB Publications (Working Papers) 2110, Inter-American Development Bank.
    2. Robinson, Sherman & Burfisher, Mary E. & Thierfelder, Karen, 1995. "The impact of the Mexican crisis on trade, agriculture, and migration:," TMD discussion papers 8, International Food Policy Research Institute (IFPRI).
    3. miller, Victoria, 2006. "Getting out from between a rock and a hard place: Can china use its foreign exchange reserves to save its banks?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 16(4), pages 345-354, October.
    4. Assaf Razin & Efraim Sadka, 1996. "Fiscal Balance During Inflation, Disinflation, and Immigration: Policy Lessons," IMF Working Papers 1996/033, International Monetary Fund.
    5. Magdalena Tomczynska, 2000. "Early Indicators of Currency Crises. Review of some literature," CASE Network Studies and Analyses 0208, CASE-Center for Social and Economic Research.
    6. Jeffrey Sachs & Andrew Warner, 1995. "Economic Reform and the Progress of Global Integration," Harvard Institute of Economic Research Working Papers 1733, Harvard - Institute of Economic Research.
    7. Sebastian Edwards & Domingo F. Cavallo & Arminio Fraga & Jacob Frenkel, 2003. "Exchange Rate Regimes," NBER Chapters, in: Economic and Financial Crises in Emerging Market Economies, pages 31-92, National Bureau of Economic Research, Inc.
    8. Eichengreen, Barry, 1997. "The Baring Crisis in a Mexican Mirror," Department of Economics, Working Paper Series qt81j7s02s, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    9. Dailami, Mansoor & Ul Haque, Nadeem, 1998. "What macroeconomic policies are"sound?"," Policy Research Working Paper Series 1995, The World Bank.
    10. Graham Bird, 2004. "How Important is Sound Domestic Macroeconomics in Attracting Capital Inflows to Developing Countries?," Palgrave Macmillan Books, in: International Finance and the Developing Economies, chapter 9, pages 141-168, Palgrave Macmillan.
    11. Barry Eichengreen., 1997. "Exchange Rate Stability and Financial Stability," Center for International and Development Economics Research (CIDER) Working Papers C97-092, University of California at Berkeley.
    12. Pazarbasioglu, Ceyla & Otker, Inci, 1997. "Likelihood versus timing of speculative attacks: A case study of Mexico," European Economic Review, Elsevier, vol. 41(3-5), pages 837-845, April.
    13. Bhattacharya, Rina, 1999. "Capital flight under uncertainty about domestic taxation and trade liberalization," Journal of Development Economics, Elsevier, vol. 59(2), pages 365-387, August.
    14. Ms. Inci Ötker & Ceyla Pazarbasioglu, 1995. "Speculative Attacks and Currency Crises: The Mexican Experience," IMF Working Papers 1995/112, International Monetary Fund.
    15. Barry Eichengreen & Andrew K. Rose, 1998. "Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises," NBER Working Papers 6370, National Bureau of Economic Research, Inc.
    16. Guillermo A. Calvo & Carlos A. Vegh, 1999. "Inflation Stabilization and BOP Crises in Developing Countries," NBER Working Papers 6925, National Bureau of Economic Research, Inc.
    17. Mr. Ilan Goldfajn & Mr. Rodrigo O. Valdes, 1997. "Capital Flows and the Twin Crises: The Role of Liquidity," IMF Working Papers 1997/087, International Monetary Fund.
    18. Gros, Daniel, 2012. "A simple model of multiple equilibria and sovereign default," CEPS Papers 7174, Centre for European Policy Studies.
    19. M. Ayhan Kose & Guy M. Meredith & Christopher M. Towe, 2005. "How Has NAFTA Affected the Mexican Economy? Review and Evidence," Springer Books, in: Rolf J. Langhammer & Lúcio Vinhas Souza (ed.), Monetary Policy and Macroeconomic Stabilization in Latin America, pages 35-81, Springer.
    20. Angelos A. Antzoulatos, 1998. "Arbitrage Opportunities on the Road to Stabilization and Reform," Working Papers 98-14, New York University, Leonard N. Stern School of Business, Department of Economics.
    21. Ahmed Shamiri & Zaidi Isa, 2010. "Volatility transmission: what do Asia‐Pacific markets expect?," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 27(4), pages 299-313, October.
    22. Angelos A. Antzoulatos, 1996. "Capital flows & current account deficits in the 1990s: why did Latin America & East Asian countries respond differently?," Research Paper 9610, Federal Reserve Bank of New York.
    23. Aaron Tornell & Andres Velasco, 1995. "Money-Based versus Exchange Rate-Based Stabilization with Endogenous Fiscal Policy," NBER Working Papers 5300, National Bureau of Economic Research, Inc.
    24. Joseph A. Whitt, 1996. "The Mexican peso crisis," Economic Review, Federal Reserve Bank of Atlanta, vol. 80(Jan), pages 1-20.
    25. Mr. Peter S. Heller, 1997. "Fiscal Policy Management in an Open Capital Regime," IMF Working Papers 1997/020, International Monetary Fund.
    26. Michael Lion & Ralf Zurbruegg, 2001. "Debt Market Regulation and the Impact of Thailand'S 1997 Economic Crisis," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 6(3), pages 386-402.
    27. Renato Filosa, 2007. "Stress testing of the stability of the Italian banking system: a VAR approach," Heterogeneity and monetary policy 0703, Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica.
    28. Sachs, Jeffrey & Tornell, Aaron & Velasco, Andres, 1996. "The Mexican peso crisis: Sudden death or death foretold?," Journal of International Economics, Elsevier, vol. 41(3-4), pages 265-283, November.
    29. Andrew Atkeson & José-Víctor Ríos-Rull, 1996. "The balance of payments and borrowing constraints: an alternative view of the Mexican crisis," Staff Report 212, Federal Reserve Bank of Minneapolis.
    30. Sebastian Edwards, 1997. "The Mexican Peso Crisis? How Much Did We Know? When Did We Know It?," NBER Working Papers 6334, National Bureau of Economic Research, Inc.
    31. Baer, Werner & Hargis, Kent, 1997. "Forms of external capital and economic development in Latin America: 1820-1997," World Development, Elsevier, vol. 25(11), pages 1805-1820, November.
    32. Joanna Siwinska-Gorzelak, 2000. "Currency Crises and Fiscal Imbalances. The Transition Countries Perspective," CASE Network Studies and Analyses 0219, CASE-Center for Social and Economic Research.
    33. Blejer, Mario I. & del Castillo, Graciana, 1998. ""Deja Vu all over again?": The Mexican crisis and the stabilization of Uruguay in the 1970s," World Development, Elsevier, vol. 26(3), pages 449-464, March.
    34. Michel Aglietta, 1996. "Financial Market Failures and Systemic Risk," Working Papers 1996-01, CEPII research center.
    35. Jianping Shi & Yu Gao, 2010. "A Study on KLR Financial Crisis Early-Warning Model," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 5(2), pages 254-275, June.
    36. Gros, Daniel, 2014. "The EMS Crisis of the 1990s: Parallels with the present crisis?," CEPS Papers 9119, Centre for European Policy Studies.
    37. Arafet Hamida, 2018. "Currency Crises and Growth," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(3), pages 83-92, March.
    38. Gros, Daniel, 2011. "Speculative Attacks within or outside a Monetary Union: Default versus Inflation (what to do today)," CEPS Papers 6359, Centre for European Policy Studies.
    39. Artus P., 2001. "What Exchange - Rate System For Emerging Countries?," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 27-60, January -.
    40. Bhattacharya, Rina, 1997. "Pace, sequencing and credibility of structural reforms," World Development, Elsevier, vol. 25(7), pages 1045-1061, July.
    41. Aaron Tornell & Gerardo Esquivel Hernández, 1997. "The Political Economy of Mexico's Entry into NAFTA," NBER Chapters, in: Regionalism versus Multilateral Trade Arrangements, pages 25-56, National Bureau of Economic Research, Inc.
    42. Angelos A. Antzoulatos, 1997. "On the determinants and resilience of bond flows to LDCs, 1990-1995: evidence from Argentina, Brazil and Mexico," Research Paper 9703, Federal Reserve Bank of New York.
    43. Marco A. Espinosa-Vega & Steven Russell, 1996. "The Mexican economic crisis: alternative views," Economic Review, Federal Reserve Bank of Atlanta, vol. 80(Jan), pages 21-44.
    44. Moreno-García, Elena, 2007. "Análisis y clasificación de las explicaciones a la crisis financiera mexicana de 1994," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(15), pages 29-52, tercer tr.
    45. Preslava Kovatchevska, 2000. "The Banking and Currency Crises in Bulgaria: 1996 - 1997," CASE Network Studies and Analyses 0204, CASE-Center for Social and Economic Research.
    46. Hussein, Khaled A. & de Mello, Luiz Jr., 2001. "Is foreign debt portfolio management efficient in emerging economies?," Journal of Development Economics, Elsevier, vol. 66(1), pages 317-335, October.
    47. Miller, Victoria, 2008. "Bank runs, foreign exchange reserves and credibility: When size does not matter," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 18(5), pages 557-565, December.
    48. Li, Larry & Sy, Malick & McMurray, Adela, 2015. "Insights into the IMF bailout debate: A review and research agenda," Journal of Policy Modeling, Elsevier, vol. 37(6), pages 891-914.
    49. Miller, Victoria, 2000. "Central bank reactions to banking crises in fixed exchange rate regimes," Journal of Development Economics, Elsevier, vol. 63(2), pages 451-472, December.
    50. Michael Chui & Simon Hall & Ashley Taylor, 2004. "Crisis spillovers in emerging market economies: interlinkages, vulnerabilities and investor behaviour," Bank of England working papers 212, Bank of England.
    51. Santiago Herrera, 2000. "Determinantes y Composición del Endeudamiento Público en Colombia," Research Department Publications 3105, Inter-American Development Bank, Research Department.
    52. Stephany Griffith-Jones, 1997. "Causes and Lessons of the Mexican Peso Crisis," WIDER Working Paper Series wp-1997-132, World Institute for Development Economic Research (UNU-WIDER).
    53. Andrew M. Warner, 1997. "Mexico's 1994 Exchange Rate Crisis Interpreted in Light of the Non-Traded Model," NBER Working Papers 6165, National Bureau of Economic Research, Inc.
    54. Kornai, János, 1996. "Kiigazítás recesszió nélkül. Esettanulmány a magyar stabilizációról [Adjustment without recession: A Case Study of Hungarian Stabilization]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 585-613.
    55. Diehl, Markus & Schweickert, Rainer, 1998. "Currency crises: Is Asia different?," Kiel Discussion Papers 309, Kiel Institute for the World Economy (IfW Kiel).
    56. Hiroya Akiba & Yonghui Jia, 2007. "Reassessment Of Currency Index By Fundamentals," Annals of Economics and Finance, Society for AEF, vol. 8(1), pages 65-93, May.
    57. Fausto Hernández Trillo & Alejandro Villagómez Amezcua, 2000. "La estructura de la deuda pública en México: Lecciones y perspectivas," Research Department Publications 3104, Inter-American Development Bank, Research Department.
    58. Jeffrey Sachs & Alvaro A. Zini Jr., 1996. "Brazilian Inflation and the Plano Real," The World Economy, Wiley Blackwell, vol. 19(1), pages 13-37, January.
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  36. Aaron Tornell & Philip Lane, 1994. "Are Windfalls a Curse? A Non-Representative Agent Model of the Current Account and Fiscal Policy," NBER Working Papers 4839, National Bureau of Economic Research, Inc.

    Cited by:

    1. Guillermo Javier Vúletin, 2002. "Regímenes Cambiarios y Performance Fiscal ¿Generan los Regímenes Fijos Mayor Disciplina que los Flexibles?," IIE, Working Papers 042, IIE, Universidad Nacional de La Plata.
    2. Ms. Luisa Zanforlin & Mr. César Calderón & Mr. Alberto Chong, 2001. "Are African Current Account Deficits Different? Stylized Facts, Transitory Shocks, and Decomposition Analysis," IMF Working Papers 2001/004, International Monetary Fund.
    3. Carlos Morales, 2011. "Variedades de recursos naturales y crecimiento económico," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, December.
    4. Eslava, Marcela, 2006. "The Political Economy of Fiscal Policy: Survey," IDB Publications (Working Papers) 3343, Inter-American Development Bank.
    5. Everhart, Stephen & Duval-Hernandez, Robert, 2001. "Management of oil windfalls in Mexico : historical experience and policy options for the future," Policy Research Working Paper Series 2592, The World Bank.
    6. Aleksander Aristovnik, 2006. "The Determinants & Excessiveness of Current Account Deficits in Eastern Europe & the Former Soviet Union," William Davidson Institute Working Papers Series wp827, William Davidson Institute at the University of Michigan.
    7. Guerguil, Martine & Mandon, Pierre & Tapsoba, René, 2017. "Flexible fiscal rules and countercyclical fiscal policy," Journal of Macroeconomics, Elsevier, vol. 52(C), pages 189-220.
    8. Aristovnik, Aleksander, 2007. "Short- and medium-term determinants of current account balances in Middle East and North Africa countries," MPRA Paper 1974, University Library of Munich, Germany.
    9. Angelo Antoci, 2005. "Environmental Resources Depletion and Interplay Between Negative and Positive Externalities in a Growth Model," Working Papers 2005.9, Fondazione Eni Enrico Mattei.
    10. Andersen, Lykke Eg & Faris, Robert, 2002. "Natural Gas and Income Distribution in Bolivia," Documentos de trabajo 1/2002, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.
    11. Perotti, Roberto, 1996. "Growth, Income Distribution, and Democracy: What the Data Say," Journal of Economic Growth, Springer, vol. 1(2), pages 149-187, June.
    12. Mr. Juan P Trevino, 2011. "Oil-Price Boom and Real Exchange Rate Appreciation: Is there Dutch Disease in the Cemac?," IMF Working Papers 2011/268, International Monetary Fund.
    13. Roberto Duncan, 2003. "The Harberger-Laursen-Metzler Effect Revisited: An Indirect-Utility-Function Approach," Working Papers Central Bank of Chile 250, Central Bank of Chile.
    14. World Bank, 2011. "Fiscal Responsibility Framework in Croatia : Lessons from the Past, Rules for the Future," World Bank Publications - Reports 12895, The World Bank Group.
    15. Guillermo Vuletin, 2013. "Exchange Rate Regimes And Fiscal Discipline: The Role Of Capital Controls," Economic Inquiry, Western Economic Association International, vol. 51(4), pages 2096-2109, October.
    16. Evgenia Anatolievna Kuklina & Xiaoging Zhu & Yuxiu Sun & Linlin Diyao, 0. "Resource Taxes in Russia and China: Pro et Contra," Administrative Consulting, Russian Presidential Academy of National Economy and Public Administration. North-West Institute of Management., issue 2.
    17. Adeel Malik, 2016. "The Political Economy of Macroeconomic Policy in Arab Resource-Rich Economies," Working Papers 1034, Economic Research Forum, revised Aug 2016.
    18. Adeel Malik, 2017. "The Political Economy of Macroeconomic Policy in Arab Resource- Rich Economies," Working Papers 1117, Economic Research Forum, revised 07 Jun 2017.
    19. Piotr Misztal, 2010. "The Harberger-Laursen-Metzler Effect. Theory and Practice in Poland," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 13(38), pages 129-146, December.
    20. Aleksander Aristovnik & Stanka Setnikar-Cankar, 2006. "How Excessive are External Imbalances in Selected Transition Countries?," Prague Economic Papers, Prague University of Economics and Business, vol. 2006(3), pages 243-267.
    21. Marañon, Matias & Kumral, Mustafa, 2021. "Empirical analysis of Chile's copper boom and the Dutch Disease through causality and cointegration tests," Resources Policy, Elsevier, vol. 70(C).
    22. Tayyaba Idrees & Saira Tufail, 2012. "The Harberger-Laursen-Metzler Effect: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 17(2), pages 87-110, July-Dec.
    23. Hjort, Jonas, 2006. "Citizen funds and Dutch Disease in developing countries," Resources Policy, Elsevier, vol. 31(3), pages 183-191, September.
    24. Guillermo J. Vuletin, 2004. "Exchange Rate Regimes And Fiscal Performance. Do Fixed Exchange Rate Regimes Generate More Discipline Than Flexible Ones?," Econometric Society 2004 North American Winter Meetings 474, Econometric Society.
    25. Gregory Thwaites, 2006. "Optimal emerging market fiscal policy when trend output growth is unobserved," Bank of England working papers 308, Bank of England.

Articles

  1. Ranciere, Romain & Tornell, Aaron & Westermann, Frank, 2006. "Decomposing the effects of financial liberalization: Crises vs. growth," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3331-3348, December.
    See citations under working paper version above.
  2. Hong, Kiseok & Tornell, Aaron, 2005. "Recovery from a currency crisis: some stylized facts," Journal of Development Economics, Elsevier, vol. 76(1), pages 71-96, February.

    Cited by:

    1. Saxena, Sweta C. & Bussière, Matthieu & Tovar, Camilo E., 2010. "Chronicle of currency collapses: re-examining the effects on output," Working Paper Series 1226, European Central Bank.
    2. Marcus Kappler & Helmut Reisen & Moritz Schularick & Edouard Turkisch, 2013. "The Macroeconomic Effects of Large Exchange Rate Appreciations," Open Economies Review, Springer, vol. 24(3), pages 471-494, July.
    3. Arabinda Basistha & Sheida Teimouri, 2015. "Currency Crises and Output Dynamics," Open Economies Review, Springer, vol. 26(1), pages 139-153, February.
    4. Esaka, Taro, 2010. "Exchange rate regimes, capital controls, and currency crises: Does the bipolar view hold?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(1), pages 91-108, February.
    5. Florian Morvillier, 2019. "Do currency undervaluations affect the impact of inflation on growth?," Post-Print hal-02138677, HAL.
    6. Nicolas Berman, 2009. "Financial Crises and International Trade: The Long Way to Recovery," Economics Working Papers ECO2009/23, European University Institute.
    7. Meixing Dai, 2012. "External Constraint and Financial Crises with Balance Sheet Effects," International Economic Journal, Taylor & Francis Journals, vol. 26(4), pages 567-585, March.
    8. Daude, Christian & Fernández-Arias, Eduardo & Blyde, Juan S., 2009. "Output Collapses and Productivity Destruction," IDB Publications (Working Papers) 1640, Inter-American Development Bank.
    9. Juan Carlos Castro Fernández & Juan Carlos Castro Fernández, 2022. "Financial Crises and Expectation-driven Recessions," Documentos de Trabajo UEC 20129, Universidad Externado de Colombia.
    10. Branimir Jovanovic, 2012. "How Policy Actions Affect Short-term Post-crisis Recovery?," CEIS Research Paper 253, Tor Vergata University, CEIS, revised 05 Oct 2012.
    11. Esaka, Taro, 2010. "De facto exchange rate regimes and currency crises: Are pegged regimes with capital account liberalization really more prone to speculative attacks?," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1109-1128, June.
    12. Morvillier, Florian, 2020. "Do currency undervaluations affect the impact of inflation on growth?," Economic Modelling, Elsevier, vol. 84(C), pages 275-292.
    13. Sebastian Edwards, 2007. "Capital Controls, Sudden Stops, and Current Account Reversals," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 73-120, National Bureau of Economic Research, Inc.
    14. Esaka, Taro, 2013. "Evaluating the effect of de facto pegs on currency crises," Journal of Policy Modeling, Elsevier, vol. 35(6), pages 943-963.
    15. Carlos Arteta & Galina Hale, 2007. "Currency crises and foreign credit in emerging markets: credit crunch or demand effect?," Working Paper Series 2007-02, Federal Reserve Bank of San Francisco.
    16. Sylvain Barthélemy & Marie-Estelle Binet & Jean-Sébastien Pentecôte, 2020. "Worldwide Economic Recoveries from Financial Crises Through the Decades," Post-Print hal-02555515, HAL.
    17. Ryota Nakatani, 2014. "The Effects of Financial and Real Shocks, Structural Vulnerability and Monetary Policy on Exchange Rates from the Perspective of Currency Crises Models," UTokyo Price Project Working Paper Series 043, University of Tokyo, Graduate School of Economics.
    18. Mehin Aslani Nia, Nassim & Salmani, Behzad & Fallahi, Firouz & Asgharpour, Hossein, 2020. "The effect of currency crisis on GDP dynamics: PGLS approach," Quarterly Journal of Applied Theories of Economics, Faculty of Economics, Management and Business, University of Tabriz, vol. 7(1), pages 185-210, May.
    19. Dhasmana, Anubha, 2013. "Operational Currency Mismatch and Firm Level Performance: Evidence from India," MPRA Paper 47935, University Library of Munich, Germany.
    20. Mr. Francesco Grigoli & Ms. Dalia S Hakura, 2010. "Recoveries in the Middle East, North Africa, and Pakistan: Have Macroeconomic Policies Been Effective?," IMF Working Papers 2010/122, International Monetary Fund.
    21. Tavakoli , Akbar & Kheradmand , Alireza, 2013. "Chronicle of Currency Collapses and the Effects on Output: Evidence from Six Asian Countries," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 8(2), pages 1-22, April.
    22. Sebastian Edwards, 2008. "Financial Openness, Currency Crises, and Output Losses," NBER Chapters, in: Financial Markets Volatility and Performance in Emerging Markets, pages 97-120, National Bureau of Economic Research, Inc.
    23. Huang, Xun & Zhang, Chengzhao, 2024. "What explains the recovery speed of financial markets from banking crises?," Research in International Business and Finance, Elsevier, vol. 70(PA).
    24. Samer Matta & Simon Appleton & Michael Bleaney, 2017. "The Economic Impact of Political Instability and Mass Civil Protest," Discussion Papers 2017-03, University of Nottingham, CREDIT.
    25. Pushan Dutt & V. Padmanabhan, 2011. "Crisis and Consumption Smoothing," Marketing Science, INFORMS, vol. 30(3), pages 491-512, 05-06.
    26. Florian Morvillier, 2018. "The role of exchange rate undervaluations on the inflation-growth nexus," Working Papers hal-04141804, HAL.
    27. Dhasmana, Anubha, 2013. "Real Effective Exchange Rate and Manufacturing Sector Performance: Evidence from Indian firms," MPRA Paper 47479, University Library of Munich, Germany.
    28. Teimouri, Sheida & Zietz, Joachim, 2017. "Economic costs of alternative monetary policy responses to speculative currency attacks," Journal of International Money and Finance, Elsevier, vol. 73(PB), pages 419-434.
    29. Ryota Nakatani, 2019. "Output Costs of Currency Crisis and Banking Crisis: Shocks, Policies and Cycles," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 61(1), pages 83-102, March.
    30. Alexander Erler & Steffen Sirries & Christian Bauer & Bernhard Herz, 2015. "Exchange Market Pressure and Monetary Policy in Emerging Market Economies: New Evidence from Treatment-effect Estimations," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 470-485, August.
    31. Shambaugh, George E. & Shen, Elaine B., 2018. "A clear advantage: The benefits of transparency to crisis recovery," European Journal of Political Economy, Elsevier, vol. 55(C), pages 391-416.
    32. Dimitras, Augustinos I. & Kyriakou, Maria I. & Iatridis, George, 2015. "Financial crisis, GDP variation and earnings management in Europe," Research in International Business and Finance, Elsevier, vol. 34(C), pages 338-354.
    33. Jin, Yuying & Luo, Mingjin & Wan, Chao, 2018. "Financial constraints, macro-financing environment and post-crisis recovery of firms," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 54-67.
    34. Erler, Alexander & Bauer, Christian & Herz, Bernhard, 2015. "To intervene, or not to intervene: Monetary policy and the costs of currency crises," Journal of International Money and Finance, Elsevier, vol. 51(C), pages 432-456.
    35. Chong Terence T. L. & He Qing & Hinich Melvin J, 2008. "The Nonlinear Dynamics of Foreign Reserves and Currency Crises," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 12(4), pages 1-18, December.
    36. Florian Morvillier, 2018. "The role of exchange rate undervaluations on the inflation-growth nexus," EconomiX Working Papers 2018-15, University of Paris Nanterre, EconomiX.
    37. Wolfgang Polasek, 2010. "Dating and Exploration of the Business Cycle in Iceland," Working Paper series 13_10, Rimini Centre for Economic Analysis.
    38. Platonov, Konstantin, 2024. "Confidence spillovers, financial contagion, and stagnation," Journal of International Money and Finance, Elsevier, vol. 148(C).
    39. Sheida Teimouri & Taggert J Brooks, 2015. "Output Recovery After Currency Crises," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 57(1), pages 75-102, March.
    40. Erler, Alexander & Bauer, Christian & Herz, Bernhard, 2014. "Defending against speculative attacks – It is risky, but it can pay off," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 309-330.
    41. Kaehler, Juergen & Weber, Christoph S., 2023. "Inflation in the aftermath of financial crises," Economic Modelling, Elsevier, vol. 128(C).
    42. Tatiana Evdokimova & Pavel Trunin & Andrei Zubarev, 2013. "The Impact of the Real Ruble Exchange Rate on the Economic Activity in Russia," Research Paper Series, Gaidar Institute for Economic Policy, issue 165P, pages 164-164.
    43. Hong, Kiseok & Tang, Hsiao Chink, 2012. "Crises in Asia: Recovery and policy responses," Journal of Asian Economics, Elsevier, vol. 23(6), pages 654-668.
    44. Hlaing, Su Wah & Kakinaka, Makoto, 2018. "Financial crisis and financial policy reform: Crisis origins and policy dimensions," European Journal of Political Economy, Elsevier, vol. 55(C), pages 224-243.
    45. Juan Carlos Castro Fernández & Juan Carlos Castro Fernández, 2022. "Big Recessions and Slow Recoveries," Documentos de Trabajo UEC 20128, Universidad Externado de Colombia.
    46. Esaka, Taro, 2014. "Are consistent pegs really more prone to currency crises?," Journal of International Money and Finance, Elsevier, vol. 44(C), pages 136-163.
    47. Victor Pontines & Reza Siregar, 2012. "Episodes of large exchange rate appreciations and reserves accumulations in selected Asian economies: Is fear of appreciations justified?," CAMA Working Papers 2012-31, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

  3. Gourinchas, Pierre-Olivier & Tornell, Aaron, 2004. "Exchange rate puzzles and distorted beliefs," Journal of International Economics, Elsevier, vol. 64(2), pages 303-333, December.

    Cited by:

    1. Giuseppe Ferrero & Andrea Nobili, 2009. "Futures Contract Rates as Monetary Policy Forecasts," International Journal of Central Banking, International Journal of Central Banking, vol. 5(2), pages 109-145, June.
    2. Stillwagon, Josh R., 2015. "Testing the expectations hypothesis with survey forecasts: The impacts of consumer sentiment and the zero lower bound in an I(2) CVAR," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 35(C), pages 85-101.
    3. Josh R. Stillwagon, 2014. "Non-Linear Exchange Rate Relationships: An Automated Model Selection Approach with Indicator Saturation," Working Papers 1405, Trinity College, Department of Economics.
    4. Müller, Gernot & Wolf, Martin & Hettig, Thomas, 2019. "Exchange Rate Undershooting: Evidence and Theory," CEPR Discussion Papers 13597, C.E.P.R. Discussion Papers.
    5. Paul Hubert & Giovanni Ricco, 2018. "Imperfect information in macroeconomics," Post-Print hal-03458122, HAL.
    6. Ramirez-Rondan, N.R. & Terrones, Marco E., 2019. "Uncertainty and the Uncovered Interest Parity Condition: How Are They Related?," MPRA Paper 97524, University Library of Munich, Germany.
    7. Ulrike Malmendier & Demian Pouzo & Victoria Vanasco, 2019. "Investor experiences and international capital flows," Economics Working Papers 1710, Department of Economics and Business, Universitat Pompeu Fabra.
    8. Menzies Gordon Douglas & Zizzo Daniel John, 2009. "Inferential Expectations," The B.E. Journal of Macroeconomics, De Gruyter, vol. 9(1), pages 1-27, December.
    9. Javier Bianchi & Saki Bigio & Charles Engel, 2022. "Scrambling for Dollars: International Liquidity, Banks and Exchange Rates," Working Papers 182, Peruvian Economic Association.
    10. Michael Jetter & Alex Nikolsko-Rzhevskyy, 2013. "Monetary Policy Shifts and the Forward Discount Puzzle," Documentos de Trabajo de Valor Público 10729, Universidad EAFIT.
    11. Moore, Michael J. & Roche, Maurice J., 2010. "Solving exchange rate puzzles with neither sticky prices nor trade costs," Journal of International Money and Finance, Elsevier, vol. 29(6), pages 1151-1170, October.
    12. Joseph P. Byrne & Dimitris Korobilis & Pinho J. Ribeiro, 2014. "Exchange Rate Predictability in a Changing World," Working Paper series 06_14, Rimini Centre for Economic Analysis.
    13. M. Utku Ozmen & Erdal Yilmaz, 2016. "Co-movement of Exchange Rates with Interest Rate Differential, Risk Premium and FED Policy in �Fragile Economies�," Working Papers 1621, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    14. Wellmann, Dennis & Trück, Stefan, 2018. "Factors of the term structure of sovereign yield spreads," Journal of International Money and Finance, Elsevier, vol. 81(C), pages 56-75.
    15. de Truchis, Gilles & Dell’Eva, Cyril & Keddad, Benjamin, 2017. "On exchange rate comovements: New evidence from a Taylor rule fundamentals model with adaptive learning," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 48(C), pages 82-98.
    16. Wolff, Christian & Straetmans, Stefan & Versteeg, Roald, 2008. "Are Capital Controls in the Foreign Exchange Market Effective?," CEPR Discussion Papers 6727, C.E.P.R. Discussion Papers.
    17. Varela, Liliana & Salomao, Juliana, 2018. "Exchange Rate Exposure and Firm Dynamics," CEPR Discussion Papers 12654, C.E.P.R. Discussion Papers.
    18. Tanya, Molodtsova & Nikolsko-Rzhevskyy, Alex & Papell, David, 2008. "Taylor Rules and the Euro," MPRA Paper 11348, University Library of Munich, Germany.
    19. Craig Burnside & Bing Han & David Hirshleifer & Tracy Yue Wang, 2011. "Investor Overconfidence and the Forward Premium Puzzle," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(2), pages 523-558.
    20. Ryan Chahrour & Vito Cormun & Pierre De Leo & Pablo A. Guerrón-Quintana & Rosen Valchev, 2024. "Exchange Rate Disconnect Revisited," NBER Working Papers 32596, National Bureau of Economic Research, Inc.
    21. Eleni Iliopulos & Erica Perego & Thepthida Sopraseuth, 2019. "International Business Cycles: Information Matters," Working Papers 2019-03, CEPII research center.
    22. Yu-chin Chen & Kwok Ping Tsang & Wen Jen Tsay, 2010. "Home Bias in Currency Forecasts," Working Papers 272010, Hong Kong Institute for Monetary Research.
    23. Redl, Chris, 2015. "Noisy news and exchange rates: A SVAR approach," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 150-171.
    24. Philippe Bacchetta & Elmar Mertens & Eric van Wincoop, 2006. "Predictability in Financial Markets: What Do Survey Expectations Tell Us?," Working Papers 102006, Hong Kong Institute for Monetary Research.
    25. Gaus, Eric & Sinha, Arunima, 2017. "Characterizing investor expectations for assets with varying risk," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 990-999.
    26. Michael Jetter & Alex Nikolsko-Rzhevskyy & Olena Ogrokhina, 2019. "Can policy shifts explain the forward discount puzzle?," Empirical Economics, Springer, vol. 57(6), pages 1891-1909, December.
    27. Albagli, Elias & Ceballos, Luis & Claro, Sebastian & Romero, Damian, 2024. "UIP deviations: Insights from event studies," Journal of International Economics, Elsevier, vol. 148(C).
    28. Sarita Bunsupha, 2018. "Extrapolative Beliefs and Exchange Rate Markets," PIER Discussion Papers 84, Puey Ungphakorn Institute for Economic Research.
    29. Cosmin Ilut, 2009. "Ambiguity Aversion: Implications For The Uncovered Interest Rate Parity Puzzle," 2009 Meeting Papers 328, Society for Economic Dynamics.
    30. Philippe Bacchetta & Eric van Wincoop, 2003. "Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?," Working Papers 03.02, Swiss National Bank, Study Center Gerzensee.
    31. Rosen Valchev, 2020. "Bond Convenience Yields and Exchange Rate Dynamics," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(2), pages 124-166, April.
    32. Ahmed, Jameel & Straetmans, Stefan, 2015. "Predicting exchange rate cycles utilizing risk factors," Journal of Empirical Finance, Elsevier, vol. 34(C), pages 112-130.
    33. Daniel Andrés Jaimes Cárdenas & jair Ojeda Joya, 2010. "Reglas de Taylor y previsibilidad fuera de muestra de la tasa de cambio en Latinoamérica," Borradores de Economia 7308, Banco de la Republica.
    34. Charles Engel, 2013. "Exchange Rates and Interest Parity," NBER Working Papers 19336, National Bureau of Economic Research, Inc.
    35. Djeutem, Edouard & Kasa, Kenneth, 2013. "Robustness and exchange rate volatility," Journal of International Economics, Elsevier, vol. 91(1), pages 27-39.
    36. Joseph Agyapong, 2021. "Application of Taylor Rule Fundamentals in Forecasting Exchange Rates," Economies, MDPI, vol. 9(2), pages 1-27, June.
    37. Sorge Marco M., 2020. "Computing sunspot solutions to rational expectations models with timing restrictions," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-10, June.
    38. Kerstin Bernoth & Helmut Herwartz & Lasse Trienens, 2023. "The Impacts of Global Risk and US Monetary Policy on US Dollar Exchange Rates and Excess Currency Returns," Discussion Papers of DIW Berlin 2037, DIW Berlin, German Institute for Economic Research.
    39. Bernoth, Kerstin & von Hagen, Jürgen & de Vries, Casper, 2012. "The forward premium puzzle and latent factors day by day," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62017, Verein für Socialpolitik / German Economic Association.
    40. Engel, Charles & Kazakova, Ekaterina & Wang, Mengqi & Xiang, Nan, 2021. "A Reconsideration of the Failure of Uncovered Interest Parity for the U.S. Dollar," CEPR Discussion Papers 15872, C.E.P.R. Discussion Papers.
    41. Granziera, Eleonora & Sihvonen, Markus, 2024. "Bonds, currencies and expectational errors," Journal of Economic Dynamics and Control, Elsevier, vol. 158(C).
    42. Reinhold Heinlein & Hans-Martin Krolzig, 2013. "Monetary Policy and Exchange Rates: A Balanced Two-Country Cointegrated VAR Model Approach," Studies in Economics 1321, School of Economics, University of Kent.
    43. Kevin J. Lansing & Jun Ma, 2014. "Explaining Exchange Rate Anomalies in a Model with Taylor-Rule Fundamentals and Consistent Expectations," Working Paper Series 2014-22, Federal Reserve Bank of San Francisco.
    44. Ali TFAILY, 2018. "Economic Fundamentals Over Long and Short Horizons," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 19(2), pages 167-174, May.
    45. Grossmann, Axel & Simpson, Marc W., 2010. "Forecasting the Yen/U.S. Dollar exchange rate: Empirical evidence from a capital enhanced relative PPP-based model," Journal of Asian Economics, Elsevier, vol. 21(5), pages 476-484, October.
    46. Christophe Chamley, 2006. "Complementarities in information acquisition with short-term trades," Boston University - Department of Economics - Working Papers Series WP2006-042, Boston University - Department of Economics.
    47. Hoffmann, Mathias & Søndergaard, Jens & Westelius, Niklas J., 2007. "The timing and magnitude of exchange rate overshooting," Discussion Paper Series 1: Economic Studies 2007,28, Deutsche Bundesbank.
    48. Giuseppe Ferrero & Andrea Nobili, 2008. "Short-term interest rate futures as monetary policy forecasts," Temi di discussione (Economic working papers) 681, Bank of Italy, Economic Research and International Relations Area.
    49. Thomas Lubik & Frank Schorfheide, 2006. "A Bayesian Look at New Open Economy Macroeconomics," NBER Chapters, in: NBER Macroeconomics Annual 2005, Volume 20, pages 313-382, National Bureau of Economic Research, Inc.
    50. Lansing, Kevin J. & LeRoy, Stephen F., 2014. "Risk aversion, investor information and stock market volatility," European Economic Review, Elsevier, vol. 70(C), pages 88-107.
    51. Moran, Kevin & Nono, Simplice Aimé, 2018. "Gradual learning about shocks and the forward premium puzzle," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 79-100.
    52. Lothian, James R. & Wu, Liuren, 2011. "Uncovered interest-rate parity over the past two centuries," Journal of International Money and Finance, Elsevier, vol. 30(3), pages 448-473, April.
    53. Thesmar, David & Landier, Augustin & Ma, Yueran, 2017. "New Experimental Evidence on Expectations Formation," CEPR Discussion Papers 12527, C.E.P.R. Discussion Papers.
    54. Charles Engel, 2015. "Exchange Rates, Interest Rates, and the Risk Premium," NBER Working Papers 21042, National Bureau of Economic Research, Inc.
    55. Charles Engel, 2011. "The Real Exchange Rate, Real Interest Rates, and the Risk Premium," Working Papers 272011, Hong Kong Institute for Monetary Research.
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    511. Andrew Abbott & Philip Jones, 2021. "The cyclicality of government foreign-aid expenditure: voter awareness in “good” times and in “bad”," Public Choice, Springer, vol. 186(1), pages 97-117, January.
    512. Sanginabadi, Bahram, 2021. "Oil and Mortality," OSF Preprints j2xqw, Center for Open Science.
    513. Mehrdad Vahabi, 2017. "Coercive state, resisting society, political and economic development in Iran," CEPN Working Papers 2017-17, Centre d'Economie de l'Université de Paris Nord.
    514. Julia Skretting, 2022. "Oil Windfalls and Regional Economic Performance in Russia," Working Papers No 02/2022, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    515. Mahadeva Lavan, 2014. "Why does natural resource abundance not always lead to better outcomes? Limited financial development versus political impatience," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 341-377, January.
    516. Niass, Dieynaba, 2022. "Does Natural Resources Endowment Affect Export Diversification In Africa? A Cross-Country Analysis," Conference papers 333416, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    517. Murray C. Kemp & Ngo Van Long, 2007. "Development Aid in the Presence of Corruption: Differential Games among Donors," CIRANO Working Papers 2007s-23, CIRANO.
    518. Talvi, Ernesto & Vegh, Carlos A., 2005. "Tax base variability and procyclical fiscal policy in developing countries," Journal of Development Economics, Elsevier, vol. 78(1), pages 156-190, October.
    519. Pichler, Paul & Sorger, Gerhard, 2009. "Wealth distribution and aggregate time-preference: Markov-perfect equilibria in a Ramsey economy," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 1-14, January.
    520. Karin Mayr & Johann Scharler, 2009. "Asymmetric Fiscal Stabilization Policy and the Public Deficit: Theory and Evidence," Vienna Economics Papers vie0908, University of Vienna, Department of Economics.
    521. Mehrdad Vahabi, 2012. "Avant-Propos," Revue d'économie politique, Dalloz, vol. 122(2), pages 135-151.
    522. Dosso, David, 2023. "Institutional Quality and Financial Development in Resource-Rich Countries: A Nonlinear Panel Data Approach," International Economics, Elsevier, vol. 174(C), pages 113-137.
    523. Liang, Li-Lin & Tussing, A. Dale, 2019. "The cyclicality of government health expenditure and its effects on population health," Health Policy, Elsevier, vol. 123(1), pages 96-103.
    524. Duncan, Roderick, 2006. "Price or politics? An investigation of the causes of expropriation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(1), pages 1-17, March.
    525. Luca Grilli & Michele Bisceglia, 2020. "A dynamic private property resource game with asymmetric firms," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 43(1), pages 109-127, June.
    526. Mohammad Reza Farzanegan, 2014. "Can Oil-Rich Countries Encourage Entrepreneurship? ‘Yes’, ‘No’ but not ‘Perhaps’," MAGKS Papers on Economics 201406, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    527. Torvik, Ragnar, 2002. "Natural resources, rent seeking and welfare," Journal of Development Economics, Elsevier, vol. 67(2), pages 455-470, April.
    528. Chekouri, Sidi Mohamed & Benbouziane, Mohamed & Chibi, Abderrahim, 2017. "Oil rents and institutional quality: empirical evidence from Algeria," MPRA Paper 81862, University Library of Munich, Germany, revised Sep 2017.
    529. Frederick Van der Ploeg, 2010. "Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights," CESifo Working Paper Series 2981, CESifo.
    530. Kaznacheev, Peter, 2013. "Resource Rents and Economic Growth: Economic and institutional development in countries with a high share of income from the sale of natural resources. Analysis and recommendations based on internatio," EconStor Research Reports 121950, ZBW - Leibniz Information Centre for Economics.
    531. Dorothy Kronick & Francisco Rodr'iguez, 2023. "Political Conflict and Economic Growth in Post-Independence Venezuela," Papers 2305.14698, arXiv.org.
    532. Akitoby, Bernardin & Clements, Benedict & Gupta, Sanjeev & Inchauste, Gabriela, 2006. "Public spending, voracity, and Wagner's law in developing countries," European Journal of Political Economy, Elsevier, vol. 22(4), pages 908-924, December.
    533. Jalles, João Tovar, 2021. "Dynamics of government spending cyclicality," Economic Modelling, Elsevier, vol. 97(C), pages 411-427.
    534. Mino, Kazuo, 2006. "Voracity vs. scale effect in a growing economy without secure property rights," Economics Letters, Elsevier, vol. 93(2), pages 278-284, November.
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    536. Adams, Dawda & Ullah, Subhan & Akhtar, Pervaiz & Adams, Kweku & Saidi, Samir, 2019. "The role of country-level institutional factors in escaping the natural resource curse: Insights from Ghana," Resources Policy, Elsevier, vol. 61(C), pages 433-440.
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    538. Baochun Peng, 2009. "Rent‐seeking activities and the ‘brain gain’ effects of migration," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 42(4), pages 1561-1577, November.
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    541. Desiree A. Desierto, 2018. "Formal models of the political resource curse," Economics of Governance, Springer, vol. 19(3), pages 225-259, August.
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  6. Tornell, Aaron, 1999. "Voracity and growth in discrete time," Economics Letters, Elsevier, vol. 62(1), pages 139-145, January.

    Cited by:

    1. Konrad, Kai A., 2001. "Investment in the Absence of Property Rights: The Role of Incumbency Advantages," CEPR Discussion Papers 3050, C.E.P.R. Discussion Papers.
    2. Samuel W. Malone, 2011. "Sovereign indebtedness, default, and gambling for redemption," Oxford Economic Papers, Oxford University Press, vol. 63(2), pages 331-354, April.
    3. Meloni, Osvaldo, 2016. "Turning a blind eye to policy prescriptions. Exploring the sources of procyclical fiscal behavior at subnational level," MPRA Paper 70541, University Library of Munich, Germany.
    4. Blanco, Luisa & Grier, Robin, 2012. "Natural resource dependence and the accumulation of physical and human capital in Latin America," Resources Policy, Elsevier, vol. 37(3), pages 281-295.
    5. Frankel, Jeffrey A., 2010. "Are Bilateral Remittances Countercyclical?," Scholarly Articles 4450131, Harvard Kennedy School of Government.
    6. Fujiwara, Kenji, 2012. "Voracity, growth, and welfare," Economics Letters, Elsevier, vol. 116(1), pages 11-14.
    7. Frankel, Jeffrey A., 2011. "A Comparison of Product Price Targeting and Other Monetary Anchor Options for Commodity Exporters in Latin America," Scholarly Articles 9642641, Harvard Kennedy School of Government.
    8. Ricardo Hausmann & Roberto Rigobon, 2003. "An Alternative Interpretation of the 'Resource Curse': Theory and Policy Implications," NBER Working Papers 9424, National Bureau of Economic Research, Inc.
    9. Carmignani, Fabrizio & Colombo, Emilio & Tirelli, Patrizio, 2011. "Macroeconomic risk and the (de)stabilising role of government size," European Journal of Political Economy, Elsevier, vol. 27(4), pages 781-790.
    10. Luca Agnello & Davide Furceri & Ricardo M. Sousa, 2011. "Fiscal Policy Discretion, Private Spending, and Crisis Episodes," NIPE Working Papers 31/2011, NIPE - Universidade do Minho.
    11. Oeindrila Dube & Juan Fernando Vargas, 2006. "Resource curse in reverse: The coffee crisis and armed conflict in Colombia," Documentos CEDE 3460, Universidad de los Andes, Facultad de Economía, CEDE.
    12. Albert Solé-Ollé & Elisabet Viladecans-Marsal, 2017. "Housing booms and busts and local fiscal policy," Working Papers 2017/05, Institut d'Economia de Barcelona (IEB).
    13. Kenji Fujiwara, 2011. "Voracity, growth and welfare," Discussion Paper Series 77, School of Economics, Kwansei Gakuin University, revised Sep 2011.
    14. Limi Kouotou, Hibrahim & Atangana Ondoa, Henri, 2023. "Africa's natural resource curse: Does the arrival of new heads of state break the spell?," Resources Policy, Elsevier, vol. 81(C).
    15. Yohei Tenryu, 2013. "Interest in Private Assets and the Voracity Effect," KIER Working Papers 850, Kyoto University, Institute of Economic Research.
    16. Frankel, Jeffrey, 2010. "The Natural Resource Curse: A Survey," Working Paper Series rwp10-005, Harvard University, John F. Kennedy School of Government.
    17. Tornell, Aaron & Velasco, Andres, 2000. "Fixed versus flexible exchange rates: Which provides more fiscal discipline?," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 399-436, April.
    18. Carolina Achury & Christos Koulovatianos & John Tsoukalas, 2011. "External Sovereign Debt in a Monetary Union: Bailouts and the Role of Corruption," Discussion Papers 11/11, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    19. Gnangnon, Sèna Kimm, 2014. "The Effect of Development Aid Unpredictability and Migrants’ Remittances on Fiscal Consolidation in Developing Countries," World Development, Elsevier, vol. 54(C), pages 168-190.
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    21. Xiaohan Guo & Jianliang Ye & Wunhong Su & Deming Luo & Xiangrong Jin, 2022. "Do zombie firms crowd out healthy firms and slow their growth? Evidence from China," Development Policy Review, Overseas Development Institute, vol. 40(6), November.
    22. Lavigne, Robert, 2011. "The political and institutional determinants of fiscal adjustment: Entering and exiting fiscal distress," European Journal of Political Economy, Elsevier, vol. 27(1), pages 17-35, March.
    23. Jeffrey A. Frankel, 2010. "A Comparison of Monetary Anchor Options, Including Product Price Targeting, for Commodity-Exporters in Latin America," NBER Working Papers 16362, National Bureau of Economic Research, Inc.
    24. Yohei Tenryu, 2017. "The role of the private sector under insecure property rights," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 64(3), pages 285-311, September.
    25. Agnello, Luca & Furceri, Davide & Sousa, Ricardo M., 2013. "How best to measure discretionary fiscal policy? Assessing its impact on private spending," Economic Modelling, Elsevier, vol. 34(C), pages 15-24.

  7. Lane, Philip R. & Tornell, Aaron, 1998. "Why aren't savings rates in Latin America procyclical?," Journal of Development Economics, Elsevier, vol. 57(1), pages 185-199, October.
    See citations under working paper version above.
  8. Tornell, Aaron & Lane, Philip R., 1998. "Are windfalls a curse?: A non-representative agent model of the current account," Journal of International Economics, Elsevier, vol. 44(1), pages 83-112, February.

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    2. d’Agostino, Giorgio & Dunne, J. Paul & Pieroni, Luca, 2016. "Government Spending, Corruption and Economic Growth," World Development, Elsevier, vol. 84(C), pages 190-205.
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    5. Franc Klaassen, Roel Beetsma and Joao Tovar Jalles, 2023. "How do governments respond to interest rates?," Working Papers REM 2023/0280, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    6. Koehler-Geib,Fritzi & Hnatkovska,Viktoria, 2015. "Business cycles accounting for Paraguay," Policy Research Working Paper Series 7284, The World Bank.
    7. François Bourguignon & Jean-Philippe Platteau, 2012. "Does Aid Availability Affect Effectiveness in Reducing Poverty?," WIDER Working Paper Series wp-2012-054, World Institute for Development Economic Research (UNU-WIDER).
    8. Marcela Eslava, 2011. "The Political Economy Of Fiscal Deficits: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 645-673, September.
    9. Rabah Arezki & Markus Brückner, 2011. "Commodity Windfalls, Polarization, and Net Foreign Assets: Panel Data Evidence on the Voracity Effect," CESifo Working Paper Series 3656, CESifo.
    10. Mohammad Reza Farzanegan, 2012. "Resource Wealth and Entrepreneurship: A Blessing or a Curse?," MAGKS Papers on Economics 201224, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    11. Tii N. Nchofoung & Nathanael Ojong, 2023. "Natural resources, renewable energy, and governance: A path towards sustainable development," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(3), pages 1553-1569, June.
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    18. Lone Christiansen & Alessandro Prati & Luca Antonio Ricci & Thierry Tressel, 2010. "External Balance in Low-Income Countries," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 6(1), pages 265-322.
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    20. Federico R. Bennett & Carlos Vegh & Daniel Lederman & Federico Bennett, "undated". "Leaning Against the Wind," World Bank Publications - Reports 26364, The World Bank Group.
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    22. Christos Koulovatianos & Leonard J. Mirman, 2005. "Endogenous Public Policy and Long-Run Growth: Some Simple Analytics," Vienna Economics Papers vie0502, University of Vienna, Department of Economics.
    23. Caselli, Francesco & Tesei, Andrea, 2011. "Resource Windfalls, Political Regimes, and Political Stability," CEPR Discussion Papers 8662, C.E.P.R. Discussion Papers.
    24. Milesi-Ferretti, Gian Maria, 2004. "Good, bad or ugly? On the effects of fiscal rules with creative accounting," Journal of Public Economics, Elsevier, vol. 88(1-2), pages 377-394, January.
    25. Rodrigo Suescún M., 2000. "Optimical Commodity Price Stabilizador Over the Business Cycle," Borradores de Economia 154, Banco de la Republica de Colombia.
    26. Navarat Temsumrit, 2020. "Does Democracy Affect Cyclical Fiscal Policy? Evidence From Developing Countries," PIER Discussion Papers 125, Puey Ungphakorn Institute for Economic Research.
    27. Serven, Luis, 1999. "Terms-of-trade shocks and optimal investment: another look at the Laursen-Metzler effect," Journal of International Money and Finance, Elsevier, vol. 18(3), pages 337-365.
    28. Thorvaldur Gylfason, 2001. "Nature, Power, and Growth," CESifo Working Paper Series 413, CESifo.
    29. Abdul HANNAN* & Hasan M. MOHSIN**, 2015. "Regional Analysis of Resource Curse Hypothesis: Evidence from Panel Data," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 25(1), pages 45-66.
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    33. Céspedes, Luis Felipe & Velasco, Andrés, 2014. "Was this time different?: Fiscal policy in commodity republics," Journal of Development Economics, Elsevier, vol. 106(C), pages 92-106.
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    37. Christos Koulovatianos & Leonard J. Mirman, 2004. "Endogenous Public Policy and Long-Run Growth," University of Cyprus Working Papers in Economics 2-2004, University of Cyprus Department of Economics.
    38. Olsson, Ola, 2003. "Conflict Diamonds," Working Papers in Economics 86, University of Gothenburg, Department of Economics, revised 30 Nov 2003.
    39. Mr. Luis Catão, 2006. "Sudden Stops and Currency Drops: A Historical Look," IMF Working Papers 2006/133, International Monetary Fund.
    40. Anton Gerunov, 2016. "Cyclical dynamics of key fiscal aggregates in Bulgaria over the period 1998-2014," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 56-73,74-89.
    41. Philip R. Lane, 2015. "International Financial Flows in Low-Income Countries," Pacific Economic Review, Wiley Blackwell, vol. 20(1), pages 49-72, February.
    42. Peter Grajzl & Peter Murrell, 2009. "Fostering civil society to build institutions Why and when1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 17(1), pages 1-41, January.
    43. Brückner, Markus & Lederman, Daniel, 2012. "Trade causes growth in Sub-Saharan Africa," Policy Research Working Paper Series 6007, The World Bank.
    44. Zakharov, Nikita, 2020. "Asymmetric oil price shocks, tax revenues, and the resource curse," Economics Letters, Elsevier, vol. 186(C).
    45. Brückner, Markus & Gradstein, Mark, 2015. "Income growth, ethnic polarization, and political risk: Evidence from international oil price shocks," Journal of Comparative Economics, Elsevier, vol. 43(3), pages 575-594.
    46. Philip R. Lane, 2002. "The Cyclical Behaviour of Fiscal Policy: Evidence from the OECD," Trinity Economics Papers 20022, Trinity College Dublin, Department of Economics.
    47. Dalgaard, Carl-Johan & Olsson, Ola, 2006. "Windfall Gains, Political Economy, and Economic Development," Working Papers in Economics 223, University of Gothenburg, Department of Economics.
    48. Mr. Sampawende J Tapsoba & Mr. Robert C York & Neree C.G.M. Noumon, 2016. "Can Statistical Capacity Building Help Reduce Procyclical Fiscal Policy in Developing Countries?," IMF Working Papers 2016/209, International Monetary Fund.
    49. van der Ploeg, Frederick, 2010. "Aggressive oil extraction and precautionary saving: Coping with volatility," Journal of Public Economics, Elsevier, vol. 94(5-6), pages 421-433, June.
    50. Khan, Nazmus Sadat, 2011. "Cyclical Behaviour of Macroeconomic Policies and Capital Flows: A Study of Asian Countries," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 34(2), pages 47-85, June.
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    52. Markus Bruckner & Alberto Chong & Mark Gradstein, 2011. "Estimating Income Elasticity of Government Expenditures: Evidence from Oil Price Shocks," School of Economics and Public Policy Working Papers 2011-31, University of Adelaide, School of Economics and Public Policy.
    53. Edward Barbier, 2010. "Corruption and the Political Economy of Resource-Based Development: A Comparison of Asia and Sub-Saharan Africa," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(4), pages 511-537, August.
    54. Gootjes, Bram & de Haan, Jakob, 2022. "Procyclicality of fiscal policy in European Union countries," Journal of International Money and Finance, Elsevier, vol. 120(C).
    55. Farhad Nili & Gabriel Talmain, "undated". "Rent-seeking, Occupational Choice and Oil Boom," Discussion Papers 01/11, Department of Economics, University of York.
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    3. Lucotte, Yannick, 2012. "Adoption of inflation targeting and tax revenue performance in emerging market economies: An empirical investigation," Economic Systems, Elsevier, vol. 36(4), pages 609-628.
    4. Enrique Alberola & Luis Molina, 2005. "What Does Really Discipline Fiscal Policy In Emerging Markets? The Role And Dynamics Of Exchange Rate Regimes," International Finance 0507003, University Library of Munich, Germany.
    5. Berger, Helge & Kopits, George & Székely, István P., 2006. "Fiscal indulgence in Central Europe: loss of the external anchor?," Discussion Papers 2006/9, Free University Berlin, School of Business & Economics.
    6. Dalia Grigonyté, 2003. "Impact of Currency Boards on Fiscal Policy in Central and Eastern European Countries," Economic Change and Restructuring, Springer, vol. 36(2), pages 111-133, June.
    7. Alberola, Enrique & Molina, Luis & Navia, Daniel, 2007. "Say you fix, enjoy and relax. The deleterious effect of peg announcements on fiscal discipline in emerging markets," Emerging Markets Review, Elsevier, vol. 8(4), pages 328-338, December.
    8. Luis Felipe Céspedes, 2005. "On the Choice and Consequences of Exchange Rate Regimes," International Finance, Wiley Blackwell, vol. 8(1), pages 151-166, March.
    9. Prazmowski, Peter A. & Sánchez-Fung, José R., 2012. "Assessing the impact of different nominal anchors on the credibility of stabilisation programmes," Economics Discussion Papers 2012-1, School of Economics, Kingston University London.
    10. Michael M. Hutchison & Ilan Noy, 2003. "Macroeconomic effects of IMF-sponsored programs in Latin America: output costs, program recidivism and the vicious cycle of failed stabilizations," Pacific Basin Working Paper Series 03-02, Federal Reserve Bank of San Francisco.
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    18. George S. Tavlas, 2003. "The Economics of Exchange‐Rate Regimes: A Review Essay," The World Economy, Wiley Blackwell, vol. 26(8), pages 1215-1246, August.
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    Cited by:

    1. Schuknecht, Ludger, 1999. "Fiscal policy cycles and the exchange rate regime in developing countries," European Journal of Political Economy, Elsevier, vol. 15(3), pages 569-580, September.
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    5. Anders Aslund, 2009. "The East European Financial Crisis," CASE Network Studies and Analyses 0395, CASE-Center for Social and Economic Research.
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    7. Barry Eichengreen, 2000. "Solving the Currency Conundrum," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 29(3), pages 315-339, November.
    8. Kady Keita & Camelia Turcu, 2022. "Promoting Counter-Cyclical Fiscal Policy: Fiscal Rules Versus Institutions," Post-Print hal-04059017, HAL.
    9. Blaise Gnimassoun & Isabelle Do Santos, 2021. "Robust structural determinants of public deficits in developing countries," Applied Economics, Taylor & Francis Journals, vol. 53(9), pages 1052-1076, February.
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    12. Alberto Alesina & Edward Glaeser & Bruce Sacerdote, 2001. "Why Doesn't the US Have a European-Style Welfare System?," NBER Working Papers 8524, National Bureau of Economic Research, Inc.
    13. Schuknecht, Ludger, 1998. "Fiscal policy cycles and the exchange regime in developing countries," WTO Staff Working Papers ERAD-97-04, World Trade Organization (WTO), Economic Research and Statistics Division.
    14. Chun-Ping Chang & Chien-Chiang Lee, 2017. "The Effect of Government Ideology on an Exchange Rate Regime: Some International Evidence," The World Economy, Wiley Blackwell, vol. 40(4), pages 788-834, April.
    15. Rigobon, Roberto, 2002. "Disinflation and fiscal reform: a neoclassical perspective," Journal of International Economics, Elsevier, vol. 58(2), pages 265-297, December.
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    163. Wei-Bin ZHANG, 2014. "Human Capital, Wealth, and Renewable Resources," Expert Journal of Economics, Sprint Investify, vol. 2(1), pages 1-20.
    164. Murray C. Kemp & Ngo Van Long, 2007. "Development Aid in the Presence of Corruption: Differential Games among Donors," CIRANO Working Papers 2007s-23, CIRANO.
    165. Paulo Barelli & Samuel De Abreu Pessôa, 2012. "Rent‐Seeking And Capital Accumulation," Economic Inquiry, Western Economic Association International, vol. 50(2), pages 399-417, April.
    166. Pichler, Paul & Sorger, Gerhard, 2009. "Wealth distribution and aggregate time-preference: Markov-perfect equilibria in a Ramsey economy," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 1-14, January.
    167. Doğan, İbrahim & Bilgili, Faik, 2014. "The non-linear impact of high and growing government external debt on economic growth: A Markov Regime-switching approach," Economic Modelling, Elsevier, vol. 39(C), pages 213-220.
    168. Andres Velasco, 1997. "Debts and Deficits with Fragmented Fiscal Policymaking," NBER Working Papers 6286, National Bureau of Economic Research, Inc.
    169. Joshua Aizenman & Ilan Noy, 2004. "Endogenous Financial and Trade Openness: Efficiency and Political Economy Considerations," Working Papers 200404, University of Hawaii at Manoa, Department of Economics.
    170. Hermes, Niels & Lensink, Robert, 2014. "Financial liberalization and capital flight," Research Report 14031-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    171. Aaron Tornell, 2003. "Liberalization, Growth and Financial Crises (October 2003)," UCLA Economics Online Papers 276, UCLA Department of Economics.
    172. Esteban, Joan & Ray, Debraj, 1999. "Conflict and Distribution," Journal of Economic Theory, Elsevier, vol. 87(2), pages 379-415, August.
    173. Du, Pengcheng & Zheng, Yi & Wang, Shuxun, 2022. "The minimum wage and the financialization of firms: Evidence from China," China Economic Review, Elsevier, vol. 76(C).
    174. Nataliia Osina, 2021. "Global governance and gross capital flows dynamics," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(3), pages 463-493, August.
    175. Mino, Kazuo, 2006. "Voracity vs. scale effect in a growing economy without secure property rights," Economics Letters, Elsevier, vol. 93(2), pages 278-284, November.
    176. Nathan Sheets, 1995. "Capital flight from the countries in transition: some theory and empirical evidence," International Finance Discussion Papers 514, Board of Governors of the Federal Reserve System (U.S.).
    177. Mr. Etienne B Yehoue, 2005. "Clusters As a Driving Engine for FDI," IMF Working Papers 2005/193, International Monetary Fund.
    178. Yehoue, Etienne B., 2009. "Clusters as a driving engine for FDI," Economic Modelling, Elsevier, vol. 26(5), pages 934-945, September.
    179. del Río, Fernando, 2018. "Property Rights, Predation, and Productivity," MPRA Paper 86246, University Library of Munich, Germany.
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  16. Tornell, Aaron, 1990. "Real vs. financial investment can Tobin taxes eliminate the irreversibility distortion?," Journal of Development Economics, Elsevier, vol. 32(2), pages 419-444, April.

    Cited by:

    1. Itaman, Richard E. & Awopegba, Oluwafemi E., 2021. "Finance, oil rent and premature deindustrialisation in Nigeria," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 149-161.
    2. Jean-Pierre Allegret, 2000. "Quel role pour les controles des mouvements internationaux de capitaux ?," Economie Internationale, CEPII research center, issue 81, pages 77-108.
    3. Shang-Jin Wei & Yi Wu, 2001. "Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises," NBER Working Papers 8187, National Bureau of Economic Research, Inc.
    4. Francisco Benita & Francisco López-Ramos & Stefano Nasini, 2019. "A bi-level programming approach for global investment strategies with financial intermediation," Post-Print hal-02117530, HAL.
    5. Paul Mosley & Jarita Duasa, 2005. "Capital controls re-examined: the case for ‘smart’ controls," Working Papers 2005009, The University of Sheffield, Department of Economics, revised Jun 2005.
    6. Xu, Nuo & Gao, Yubin & Du, Lizhen & You, Liang, 2023. "Does administrative monopoly regulation affect corporate financialization? From the perspective of vertical industrial chain competition in China," Finance Research Letters, Elsevier, vol. 53(C).
    7. Cavallo, Eduardo & Galindo, Arturo & Izquierdo, Alejandro & León, John Jairo, 2013. "The role of relative price volatility in the efficiency of investment allocation," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 1-18.
    8. Si, Deng-Kui & Zhuang, Jiali & Ge, Xinyu & Yu, Yong, 2024. "The nexus between trade policy uncertainty and corporate financialization: Evidence from China," China Economic Review, Elsevier, vol. 84(C).
    9. Yang, Baochen & Chen, Fengrui, 2023. "The financialization of nonfinancial companies in China: A macroeconomic perspective," Finance Research Letters, Elsevier, vol. 53(C).
    10. Chengxue Yao & Fan Jiang & Liang Guo, 2023. "Fixed investment or financial assets investment: Evidence from political uncertainty in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(1), pages 427-450, March.
    11. Giovanni Scarano, 2019. "Capital accumulation and corporate portfolio choice between liquidity holdings and financialisation," Departmental Working Papers of Economics - University 'Roma Tre' 0243, Department of Economics - University Roma Tre.
    12. Laban, Raul M. & Larrain, Felipe B., 1997. "Can a liberalization of capital outflows increase net capital inflows?," Journal of International Money and Finance, Elsevier, vol. 16(3), pages 415-431, June.
    13. Shang-Jin Wei, 2000. "Local Corruption and Global Capital Flows," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(2), pages 303-354.
    14. Thomas Palley, 1999. "Speculation and Tobin taxes: Why sand in the wheels can increase economic efficiency," Journal of Economics, Springer, vol. 69(2), pages 113-126, June.
    15. Demir, Firat, 2007. "Private Investment and Cash Flow Relationship Revisited: Capital Market Imperfections and Financialization of Real Sectors in Emerging Markets," MPRA Paper 3081, University Library of Munich, Germany.
    16. Shang-Jin Wei, 2000. "Corruption, composition of capital flows, and currency crises," Policy Research Working Paper Series 2429, The World Bank.
    17. Raúl Labán & Felipe Larraín, "undated". "Can a Liberalization of Capital Outflows Increase Net Capital Inflows?," Documentos de Trabajo 155, Instituto de Economia. Pontificia Universidad Católica de Chile..
    18. Demir, Firat, 2007. "Private Investment, Portfolio Choice and Financialization of Real Sectors in Emerging Markets," MPRA Paper 3835, University Library of Munich, Germany, revised Jul 2007.
    19. Raúl Labán & Felipe Larraín, 1997. "El Retorno de los Capitales Privados a Chile en los Noventa: Causas, Efectos y Reacciones de Política," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 34(103), pages 339-362.
    20. Wang, Ting & Xu, Jiani & Yang, Liuyong, 2024. "Financial geographic density and corporate financial asset holdings: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    21. Si, Deng-Kui & Li, Xiao-Lin & Huang, Shoujun, 2021. "Financial deregulation and operational risks of energy enterprise: The shock of liberalization of bank lending rate in China," Energy Economics, Elsevier, vol. 93(C).
    22. Demir, FIrat, 2009. "Financial liberalization, private investment and portfolio choice: Financialization of real sectors in emerging markets," Journal of Development Economics, Elsevier, vol. 88(2), pages 314-324, March.
    23. Tang, Kai, 2024. "The influence of managerial ability on corporate financialization," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 1229-1245.
    24. Alonso, Miguel A. & Rallo, Juan Ramón & Romero, Alberto, 2013. "El efecto de los impuestos a las transacciones financieras en la estabilidad de los mercados de capital. Un debate sin resolver," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(317), pages 207-231, enero-mar.
    25. DemIr, FIrat, 2009. "Capital Market Imperfections and Financialization of Real Sectors in Emerging Markets: Private Investment and Cash Flow Relationship Revisited," World Development, Elsevier, vol. 37(5), pages 953-964, May.
    26. Roberto Veneziani & Luca Zamparelli & Leila E. Davis, 2017. "Financialization And Investment: A Survey Of The Empirical Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1332-1358, December.
    27. Zhang, Cheng & Yang, Chunhong & Liu, Cheng, 2021. "Economic policy uncertainty and corporate risk-taking: Loss aversion or opportunity expectations," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    28. Margareta Kulessa, 1996. "The Tobin tax: A tool for allocative or distributional policies?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 31(3), pages 122-131, May.
    29. Firat Demir, 2009. "Financialization and Manufacturing Firm Profitability under Uncertainty and Macroeconomic Volatility: Evidence from an Emerging Market," Review of Development Economics, Wiley Blackwell, vol. 13(4), pages 592-609, November.
    30. Serven, Luis, 1997. "Uncertainty, instability, and irreversible investment : theory, evidence, and lessons for Africa," Policy Research Working Paper Series 1722, The World Bank.
    31. Guanchun Liu & Chien-Chiang Lee, 2018. "Financialization And Stagnant Capital Accumulation In China," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 21(1), pages 23-32, July.
    32. Li, Xiao-Lin & Qiu, Guojing & Ding, Hui, 2022. "The impact of exchange rate policy uncertainty shock on Chinese energy firms' risk-taking," Energy Economics, Elsevier, vol. 105(C).
    33. Buch, Claudia M. & Heinrich, Ralph P. & Pierdzioch, Christian, 1998. "Taxing short-term capital flows - An option for transition economies?," Kiel Discussion Papers 321, Kiel Institute for the World Economy (IfW Kiel).
    34. Hui Wang & Qing Wang & Xia Sheng, 2021. "Does Corporate Financialization Have a Non-Linear Impact on Sustainable Total Factor Productivity? Perspectives of Cash Holdings and Technical Innovation," Sustainability, MDPI, vol. 13(5), pages 1-17, February.
    35. Raúl Labán & Felipe Larraín, "undated". "What Drives Capital Flows? Lessons from Recent Chilean Experience," Documentos de Trabajo 168, Instituto de Economia. Pontificia Universidad Católica de Chile..
    36. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
    37. Richard E. Itaman, 2022. "The finance‐growth nexus enigma: Bringing in institutional context and the productiveness debate," Journal of Economic Surveys, Wiley Blackwell, vol. 36(2), pages 504-527, April.
    38. Alina Herasymenko, 2016. "Banking Investment Lending In Conditions Of Imbalances Of Movements Of Financial Resources," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 2(4).

Chapters

  1. Aaron Tornell, 2004. "Banks, Bailout Guarantees, and Risky Debt," NBER Chapters, in: Governance, Regulation, and Privatization in the Asia-Pacific Region, pages 425-453, National Bureau of Economic Research, Inc.

    Cited by:

    1. Thomas Marois, 2014. "Historical Precedents, Contemporary Manifestations," Review of Radical Political Economics, Union for Radical Political Economics, vol. 46(3), pages 308-330, September.

  2. Aaron Tornell, 2001. "Lending Booms and Currency Crises: Empirical Link," NBER Chapters, in: Regional and Global Capital Flows: Macroeconomic Causes and Consequences, pages 47-67, National Bureau of Economic Research, Inc.

    Cited by:

    1. Yongil Jeon & Stephen M. Miller, 2002. "The Performance of Domestic and Foreign Banks: The Case of Korea and the Asian Financial Crisis," Working papers 2002-28, University of Connecticut, Department of Economics.
    2. Yongil Jeon & Stephen M. Miller, 2002. "The Effect of the Asian Financial Crisis on the Performance of Korean Nationwide Banks," Working papers 2002-32, University of Connecticut, Department of Economics.
    3. Bruce N. Lehmann & David M. Modest, 1985. "The Empirical Foundations of the Arbitrage Pricing Theory I: The Empirical Tests," NBER Working Papers 1725, National Bureau of Economic Research, Inc.
    4. Pierre-Olivier Gourinchas & Maurice Obstfeld, 2011. "Stories of the Twentieth Century for the Twenty-First," NBER Working Papers 17252, National Bureau of Economic Research, Inc.
    5. Yongil Jeon & Stephen M. Miller, 2004. "Foreign and Domestic Bank Performances: An Ideal Decomposition of Industry Dynamics," Working papers 2004-46, University of Connecticut, Department of Economics.
    6. Yongil Jeon & Stephen M. Miller & Paul A. Natke, 2003. "Do Foreign Bank Operations Provide a Stabilizing Influence in Korea?," Working papers 2004-21, University of Connecticut, Department of Economics.

  3. Aaron Tornell & Gerardo Esquivel Hernández, 1997. "The Political Economy of Mexico's Entry into NAFTA," NBER Chapters, in: Regionalism versus Multilateral Trade Arrangements, pages 25-56, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  4. Aaron Tornell, 1995. "Are Economic Crises Necessary for Trade Liberalization and Fiscal Reform? The Mexican Experience," NBER Chapters, in: Reform, Recovery, and Growth: Latin America and the Middle East, pages 53-76, National Bureau of Economic Research, Inc.

    Cited by:

    1. Keiko Kubota, 2005. "Fiscal Constraints, Collection Costs, And Trade Policies," Economics and Politics, Wiley Blackwell, vol. 17(1), pages 129-150, March.
    2. Miguel Braun & Mariano Tommasi, 2004. "Fiscal Rules for Subnational Governments. Some organizing principles and Latin American experiences," Public Economics 0410004, University Library of Munich, Germany.
    3. Dimitris P. SKALKOS, 2018. "Studying the political economy of reforms: The Greek case, 2010-2017," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(615), S), pages 163-186, Summer.
    4. Mariano Tommasi, 2002. "Crisis, Political Institutions and Policy Reform: It Is Not the Policy, It Is the Polity, Stupid," Working Papers 49, Universidad de San Andres, Departamento de Economia, revised Jun 2004.
    5. Julia Cage & Lucie Gadenne, 2018. "Tax Revenues and the Fiscal Cost of Trade Liberalization, 1792-2006," SciencePo Working papers Main hal-03391923, HAL.
    6. Michael Bruno & William Easterly, 1996. "Inflation and growth: in search of a stable relationship," Proceedings, Federal Reserve Bank of St. Louis, vol. 78(May), pages 139-146.
    7. Corrales, Javier & Cisneros, Imelda, 1999. "Corporatism, Trade Liberalization and Sectoral Responses: The Case of Venezuela, 1989-99," World Development, Elsevier, vol. 27(12), pages 2099-2122, December.
    8. Michael Bruno & William Easterly, 1995. "Inflation Crises and Long-Run Growth," NBER Working Papers 5209, National Bureau of Economic Research, Inc.
    9. Sebastian Edwards & Daniel Lederman, 1998. "The Political Economy of Unilateral Trade Liberalization: The Case of Chile," NBER Working Papers 6510, National Bureau of Economic Research, Inc.
    10. Evgeny Vinokurov & Alexander Libman, 2014. "Do economic crises impede or advance regional economic integration in the post-Soviet space?," Post-Communist Economies, Taylor & Francis Journals, vol. 26(3), pages 341-358, September.
    11. Aaron Tornell & Gerardo Esquivel Hernández, 1997. "The Political Economy of Mexico's Entry into NAFTA," NBER Chapters, in: Regionalism versus Multilateral Trade Arrangements, pages 25-56, National Bureau of Economic Research, Inc.
    12. Aaron Tornell, 1998. "Reform from Within," NBER Working Papers 6497, National Bureau of Economic Research, Inc.
    13. Lotta Moberg, 2018. "Liberalizing Rent-Seeking: How Export Processing Zones Can Save or Sink an Economy," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 33(Winter 20), pages 61-89.
    14. Daniel Arce, 1997. "Fiscal Pacts," Open Economies Review, Springer, vol. 8(3), pages 271-284, July.
    15. Tornell, Aaron & Lane, Philip R., 1998. "Are windfalls a curse?: A non-representative agent model of the current account," Journal of International Economics, Elsevier, vol. 44(1), pages 83-112, February.
    16. Kubota, Keiko, 2000. "Fiscal constraints, collection costs, and trade policies," Policy Research Working Paper Series 2366, The World Bank.

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