Foreign Exchange Constraint and Developing Economies

Inbunden, Engelska, 2023

2 419 kr

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Foreign Exchange Constraint and Developing Economies addresses the complex nature of foreign exchange constraint for macroeconomic and social development. The book collects expertise and perspectives from a diverse set of contributions. Using a combination of innovative theoretical and empirical approaches, the book suggests several analytical frameworks to help advance academic research and policy work on foreign exchange and sustainable development.Chapters explore how trends in exchange rates, currency dynamics and international capital markets impact development models of primarily small open economies. The problems of global capital flows affected by the COVID-19 pandemic are also reviewed. The book presents analyses of both country-level and regional patterns and discusses broader implications for emerging markets. Exploring urgent questions for academic and policy agendas, this will be an important read for economists and researchers working on the topics of economic development, international economics, open economy, exchange rate management, sovereign debt, central banking, and monetary policy. Applied economists and policymakers will also find this a meaningful resource.

Produktinformation

Utgivningsdatum2023-01-17
Mått156 x 234 x undefined mm
FormatInbunden
SpråkEngelska
FörlagEdward Elgar Publishing Ltd
ISBN9781800880498

Tillhör följande kategorier

Foreword by Barry EichengreenPreface and acknowledgementsPART I: CAPITAL MARKETS1. Foreign exchange constraint and select developing economies: insights from the Caucasus and Central AsiaAleksandr V. Gevorkyan2. Domestic sovereign yields puzzle in 2020: falling yields amid a large fiscalshock in emerging marketsHayk Avetisyan, Viacheslav Ilin, and Dmitry Yakovlev3. Wealth composition, valuation effect and upstream capital flowsUthman M. Baqais4. Non-financial corporations as financial intermediaries and theirmacroeconomic implications: an empirical analysis for Latin AmericaClaudia de Camino, Esteban Pérez Caldentey and Cecilia VeraPART II: CURRENCY AND EXCHANGERATE5. Currency relationships over time: a network analysis and case study ofMexicoGeorgia Bush, Serafin Martínez-Jaramillo, Luis O. L. Escobar-Farfán and ErwinFlores-Tamés6. On the limits of real exchange-rate targeting under foreign exchangeconstraintEduardo F. Bastian7. Optimal foreign exchange reserves in small open economies: the case of theCaribbeanDave Seerattan8. Two sides of a currency crisis in emerging economies: economic andbehavioural side of currency risk derivativesElżbieta Kubińska, Joanna Wyrobek, Łukasz Faryj and Anna Macko9. Real exchange rate, demand growth and labour productivity: a growth modelof cumulative and circular causationHugo C. Iasco-Pereira, Fabrício J. Missio, Frederico G. Jayme Jr and Douglas AlencarPART III: COVID-19 AND OPEN ECONOMY10. Capital flows and emerging market economies since the global financialcrisisOtaviano Canuto11. The Lebanese banking crisis: an exploration of the impaired bankingsystemSamar IssaIndex

‘Most emerging and developing economies face a persistent foreign exchange gap. Holding foreign exchange reserves, even in large amounts, does not eradicate the gap that essentially produces persistently foreign exchange constrained economies. This book is a very helpful collection of chapters that elucidates the various manifestations for the foreign exchange constraint. It covers a wide number of important topics such as capital flows, foreign debt, exchange rate policy, the role of MNCs, financial crisis, and others. The collection will be very helpful to researchers and policymakers.’