Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation...
This study aims to further address gaps in research related to commercial financing challenges in Local Currency Financing (LCF) for sustainable infrastructure. This will include a review of broader financial...
This paper investigates the similarities between the economy of 1912 Mount Lebanon on the eve of the famine of 1916 and the economy of 2004 Lebanon that set the stage for the major economic and social...
Most developing economies rely on foreign capital to finance their infrastructure needs. These projects are usually structured as long-term (25–35 years) franchises that pay in local currency. If investors...
This Market Monitor is an update of the 2021 monitor, and provides an analysis of gender equality on the boards and in leadership positions at the top 100 issuers by market capitalization on 22 major G20...
This paper utilizes data for African countries to analyze the extent to which financial development affects the dynamics of the relationship between exchange rate flexibility and economic growth. The findings...
This paper estimates the effect of China’s exchange rate changes on exports of developing countries in third markets. The degree ofcompetition between China and its developing country competitors in specific...
This paper studies the question of whether exchange rate policy affects the impact of remittances on economic growth in recipient countries. The paper utilizes a comprehensive data set that comprises annual...
Some of the headings included in this issue of the Development Economics Prospects Group (DECPG) daily economic news are as follows: financial markets; high income economies; and developing economies in...
This paper looks at the correlation between the cyclical components of gross domestic product and the exchange rate and classifies countries' currencies as procyclical if they appreciate in good times...
In this paper, authors study how firm-level export performance is affected by Real Exchange Rate (RER) volatility and investigate whether this effect depends on existing financial constraints. Our empirical...
Weak global demand and delays in domestic policy adjustments have led to widening and unsustainable macroeconomic imbalances in 2013. Further delays in reforms will worsen the economic difficulties confronting...
This paper studies how firm-level export performance is affected by Real Exchange Rate (RER) volatility and investigates whether this effect depends on existing financial constraints. The empirical analysis...
This paper estimates how changes in China's exchange rates would affect exports from competitor countries in third-country markets -- in other words, the "spillover effect." The authors use recent theory...
Several issues and questions have been raised following the TAG meeting that go beyond what was discussed. In addition, papers were provided to the TAG by Dikhanov and Hill at the time of the meeting...
This country level trade brief summarizes insights from the world trade indicators database as well as analyzes national impacts and responses to the food crisis and global recession. The trade at a glance...
According to the conventional wisdom, when an economy enters a recession and nominal prices adjust slowly, the monetary authority should devalue the domestic currency to make the recession less severe...
The view that policies directed at the real exchange rate can have an important effect on economic growth has been gaining adherents in recent years. Unlike the traditional 'misalignment' view that temporary...
This Ukraine economic update includes the following headings: the global financial crisis has exposed Ukraine's inherent macroeconomic vulnerabilities, leading to a sizable exchange rate adjustment, and...
How can countries stimulate and sustain strong export growth? To answer this question, the authors examine 92 episodes of export surges, defined as significant increases in manufacturing export growth...