International Economics Commons^™

Foreign Direct Investment: Clearing The Infrastructure Bottlenecks, Kim Song Tan, Sim Yee Lau

Research Collection School Of Economics

No abstract provided.

Vertical Trade, Exchange Rate Pass-Through, And Exchange Rate Regime, Yao Tang, Ke Pang

Economics Department Working Paper Series

We compare the welfare of different combinations of monetary and currency policies in an open-economy macroeconomic model that incorporates two important features of many small economies: a high level of vertical international trade and a prevalent use of a large trade partner's currency as the invoicing currency for both imports and exports. In this environment, a small economy prefers a fixed exchange rate regime over a flexible regime, while the larger economy prefers a flexible exchange rate regime. There are two main causes underlying our results. First, in the presence of sticky prices, relative prices adjust through changes in the …

The Cupboard Is Full: Public Finances For Public Services In The Global South, Sarah T. Romano, Ronnie Lipschutz

All Faculty Work

No abstract provided.

The Greek Financial Crisis: An Overview Of The Crisis In Entirety And Proposed Measures: Recommended Solutions And Results, Androniki Podaras

Honors College Theses

This paper examines the Greek financial crisis from 2009 in entirety and analyzes the best option for economic growth from this point forth. The history and culture of Greece is discussed, along with a background of the economy and several economic policies that led to the increased debt levels and the poor economic health of the country. The Gross Domestic Product of Greece and the inflation levels are analyzed to show the changes and signs of poor economic health, and one that was affected by the entry into the Eurozone in 2000.

Then, I discuss how this led to the …

Can One Size Fit All? An Application Of Management Theory On The European Sovereign Debt Crisis, Amanda Grayson

Honors College Theses

The European Union is a combination of twenty-seven different and unique cultures under one common government. Can culture help explain the continued problems emanating from the European debt crisis?

In undergraduate management courses around the world, from Harvard University to Beijing International, eager young minds are taught the same fundamental management theories. Among others, one of the most popular would inevitably be Hofstede’s Cultural Dimensions.

Geert Hofstede, while working for the IBM research department, undertook a detailed survey and analysis of the various cultures of the world. He defined four dimensions of culture, now expanded to six, that can be …

Off The Cliff And Back? Credit Conditions And International Trade During The Global Financial Crisis, Davin Chor, Manova Kalina

Research Collection School Of Economics

We examine the collapse of international trade flows during the 2008-2009 global financial crisis using detailed data on the evolution of monthly U.S. imports over the November 2006 - April 2009 period. We show that credit constraints and the reduction in the availability of external capital were an important channel through which the crisis affected trade volumes. We identify the effects of credit tightening by exploiting the variation in the cost of capital across countries and over time, as well as the variation in financial dependence across sectors. We find that countries with higher interbank interest rates and thus tighter …

Hard, Soft, And Embedded: Implementing Principles On Promoting Responsible Sovereign Lending And Borrowing, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

This paper, prepared for UNCTAD’s initiative on responsible sovereign lending and borrowing, considers concrete strategies for implementing the Principles. It draws on studies in soft law and new governance, and on the recent experience in promoting best practices in international finance, including project finance, extraction revenue management, foreign aid, sovereign investment, and sovereign borrowing in the capital markets. It recommends maintaining the current non-binding character of the Principles, while embedding implementation in multi-stakeholder arrangements for ongoing disclosure, assessment, interpretation, and adaptation. This strategy has the best chance of changing behavior in sovereign lending and borrowing by creating constituencies for implementation …

The Impact Of Institutional Arrangements On Educational Efficiency, Trevor Collier

Economics and Finance Faculty Publications

Per-pupil expenditures on education in the United States have grown immensely in recent decades, yet student achievement has been stagnant. An abundance of research has sought to solve this enigma, much of it centered on the incentive structure facing administrators. Some recent papers use TIMSS data to analyze the relationship between institutional arrangements—that typically do not vary within a single country—and student achievement. Similarly, we utilize TIMSS 1999 to determine if there is an indirect relationship between institutional arrangements and student achievement, via a relationship with school efficiency. Our results show that the specified link between institutional arrangements and student …