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Conference Paper
International payments imbalances of the East Asian developing economies
Sundberg, Mark W.; Sachs, Jeffrey D. (1988)
Conference Series ; [Proceedings] , Volume 32 , Pages 103-156

Working Paper
The IMF in a world of private capital markets
Kletzer, Kenneth M.; Eichengreen, Barry; Mody, Ashoka (2005)
The IMF attempts to stabilize private capital flows to emerging markets by providing public monitoring and emergency finance. In analyzing its role we contrast cases where banks and bondholders do the lending. Banks have a natural advantage in monitoring and creditor coordination, while bonds have superior risk sharing characteristics. Consistent with this assumption, banks reduce spreads as they obtain more information through repeat transactions with borrowers. By comparison, repeat borrowing has little influence in bond markets, where publicly-available information dominates. But spreads ...
Working Paper Series , Paper 2005-12

Working Paper
Sterilization of capital inflows through the banking sector: evidence from Asia
Spiegel, Mark M. (1995)
This paper develops an open-economy version of the Bernanke-Blinder model which indicates that sterilization efforts through increases in reserve requirements will have limited impact if viable financial alternatives to the commercial banking sector exists. We then examine the capital inflow surge experiences of seven developing Asian nations. Our analysis yields three stylized conclusions: First, the timing of capital inflow surges indicates a causal role for both domestic and foreign factors. Second, there is little general rule as to the most effective sterilization instrument. Finally, ...
Pacific Basin Working Paper Series , Paper 95-06

Working Paper
Can debtor countries service their debts? Income and price elasticities for exports of developing countries
McNeilly, Caryl; Marquez, Jaime R. (1986)
Interest in income and price elasticities for international trade has increased recently because of the debt crisis that many developing countries are experiencing. Estimates of income elasticities of import demand, however, range from a low of 1.3 to a high of 4.7. Such differences have important implications for debtor and creditor countries alike. Using quarterly data for the period 1973-1981, this paper estimates income and price elasticities for non-oil imports of five major industrial countries from non-OPEC developing countries. The empirical results suggest that the income elasticity ...
International Finance Discussion Papers , Paper 277

Journal Article
Statement to Congress, June 27, 1989 (bank supervisory policies regarding U.S. bank lending to developing countries)
Taylor, William (1989-08)
Federal Reserve Bulletin , Issue Aug , Pages 563-565

Journal Article
Financial crises in the emerging markets: the roles of the public and private sectors
Stern, Ernest; Checki, Terrence J. (2000-11)
In the wake of the emerging market turmoil of recent years, a broad consensus has developed on ways of strengthening the institutional framework to create more robust, and thus more crisis-resistant, economies. But there is no comparable consensus on how best to handle crises once they do erupt, or the respective roles of public institutions and the private sector in containing and resolving such crises. This article examines some of the key issues and outlines a flexible, managed-market approach to crisis resolution that allows for different forms of participation by the public and private ...
Current Issues in Economics and Finance , Volume 6 , Issue Nov

Journal Article
Financial crises in emerging markets
Moreno, Ramon; Spiegel, Mark M.; Glick, Reuven (2001)
This Economic Letter briefly reviews 11 papers that provide analytical perspectives and new empirical evidence on the causes of these crises as well as the appropriate policy responses. These papers, prepared for a conference sponsored by the Federal Reserve Bank of San Francisco?s Center for Pacific Basin Monetary and Economic Studies, have been collected in Financial Crises in Emerging Markets (edited by R. Glick, R. Moreno, and M. Spiegel), published in 2001 by Cambridge University Press.
FRBSF Economic Letter

Conference Paper
The U.S. current account deficit: collateral for a total return swap
Garber, Peter M.; Dooley, Michael P. (2005-02)
Proceedings , Issue Feb

Report
Transportation and development: insights from the U.S., 1840-1860
Teixeira, Arilton; Herrendorf, Berthold; Schmitz, James A. (2009)
We study the effects of large transportation costs on economic development. We argue that the Midwest and the Northeast of the U.S. is a natural case because starting from 1840 decent data is available showing that the two regions shared key characteristics with today?s developing countries and that transportation costs were large and then came way down. To disentangle the effects of the large reduction in transportation costs from those of other changes that happened during 1840?1860, we build a model that speaks to the distribution of people across regions and across the sectors of ...
Staff Report , Paper 425

Working Paper
Globalization, locational innovation and East Asian development
Kasper, Wolfgang (1991)
Pacific Basin Working Paper Series , Paper 91-02

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