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Articles 1 - 5 of 5
Full-Text Articles in International Economics
Reserve Currency And A Lender Of Next-To-Last Resort: A Literature Review, Alida S. Skold
Reserve Currency And A Lender Of Next-To-Last Resort: A Literature Review, Alida S. Skold
Alida S. Skold
The role of the US dollar as the global dominant reserve currency is eroding. Debate is ongoing regarding next steps. Moving the international monetary system to a single global currency is part of the debate. Literature reviews the eroding role of the US dollar and implications the erosion carries for the US. The Special Drawing Rights developed by the IMF could fill the role of Keynes’ recommended global currency known as the “bancor.” Regardless of the nature of the global reserve currency, access to liquidity is required to have an effective international monetary system. Literature defines a missing layer of …
A Strategy For Rural Financial Market Reform: Applying The Financial Systems Approach In Ghana, Harlan M. Smith Ii, Abor Yeboah
A Strategy For Rural Financial Market Reform: Applying The Financial Systems Approach In Ghana, Harlan M. Smith Ii, Abor Yeboah
Harlan M. Smith
We construct, using methods advocated in one strand of the Financial Systems Approach literature, a reform-and-renewal program for one of Ghana’s struggling Rural Banks--the Kaaseman Rural Bank. Questionnaire results, local informal financial practices, recent institutional innovations in Ghanaian finance, the experiences of successful “Nontraditional” rural finance institutions in developing countries, and the operating structure of the Rural Bank program indicate that this bank can implement a group-lending scheme that will reduce significantly its transaction costs and those of its customers. We thus demonstrate how the Financial Systems Approach can be employed to promote sustainable rural financial intermediation in a specific …
Smart Stimulus Amid Deepening Debt: Future-Flow Tax Credit Programs, William Werkmeister
Smart Stimulus Amid Deepening Debt: Future-Flow Tax Credit Programs, William Werkmeister
William Werkmeister
No abstract provided.
The Value Of Domestic Subsidy Rules In Trade Agreements, Daniel Brou, Edoardo Campanella, Michele Ruta
The Value Of Domestic Subsidy Rules In Trade Agreements, Daniel Brou, Edoardo Campanella, Michele Ruta
Daniel Brou
No abstract provided.
Territorial Tax System Reform And Corporate Financial Policies, Matteo Arena, George Kutner
Territorial Tax System Reform And Corporate Financial Policies, Matteo Arena, George Kutner
Matteo P. Arena
We examine the effect of a permanent change to a country corporate income repatriation tax system on corporate financial policies. In 2009 Japan and the U.K. switched from a worldwide to a territorial system for the taxation of repatriated foreign earnings. The new system effectively reduced the tax liabilities of most multinational firms when repatriating earnings. We find that after the change firms accumulate less cash, pay out larger amounts through dividends and share repurchases, and invest less abroad. We do not find that the tax system change has significantly affected domestic investments even when controlling for capital constraints.