Current account and external financing

Are international capital markets a source of stable and reliable financing for emerging market economies, or a source of instability? Is the pattern of capital flows from poor to rich countries observed in the past decade sustainable? What is the optimal degree of capital account openness both for...

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Otros Autores:	Cowan, Kevin, 1970-
Formato:	Libro
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	MERCADO DE CAPITALES FINANZAS INTERNACIONALES CUENTAS CORRIENTES
Acceso en línea:	https://hdl.handle.net/20.500.12580/1643
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spelling	oai-20.500.12580-16432021-04-24T05:02:28Z Current account and external financing Cowan, Kevin, 1970- Edwards, Sebastián, 1953- Valdés, Rodrigo MERCADO DE CAPITALES FINANZAS INTERNACIONALES CUENTAS CORRIENTES Are international capital markets a source of stable and reliable financing for emerging market economies, or a source of instability? Is the pattern of capital flows from poor to rich countries observed in the past decade sustainable? What is the optimal degree of capital account openness both for inflows and for outflows? Should small emerging economies actively try to issue external liabilities in domestic currency?. This volume is an attempt to answer some of these questions, at both the theoretical and empirical level. All 15 papers add substantially to the body of theoretical findings, empirical research, and policy lessons on the behavior of the current account and the sources of external financing. Novel evidence is provided regarding sudden stops, international reserve management and fundamentals driving current accounts in commodity-exporting countries. Other analytical research addresses the adjustment of global imbalances and the causes and consequences of capital flows, current account adjustment in emerging economies, and the impact of stocks of international assets and liabilities and their valuation on international adjustment. Current account and external financing : an introduction / Kevin Cowan, Sebestia?n Edwards, and Rodrigo O. Valde?s -- On current account surpluses and the correction of global imbalances / Sebastia?n Edwards -- Crises in emerging market economies : a global perspective / Guillermo A. Calvo -- Latin America's access to international capital markets : good behavior or global liquidity? / Ana Fostel and Graciela Laura Kaminsky -- Financial diversification, sudden stops, and sudden starts / Kevin Cowan [and others] -- Valuation effects and external adjustment : a review / Pierre-Olivier Gourinchas -- Stocks, flows, and valuation effects of foreign assets and liabilities : do they matter? / Alfredo Pistelli, Jorge Selaive, and Rodrigo O. Valde?s -- Financial frictions and business cycles in middle-income countries / Jaime C. Guajardo -- Emerging market fluctuations : the role of interest rates and productivity shocks / Mark Aguiar and Gita Gopinath -- What drives the current account in commodity exporting countries? : the cases of Chile and New Zealand / Juan Pablo Medina, Anella Munro, and Claudio Soto -- International reserve management and the current account / Joshua Aizenman -- Do development considerations matter for exchange rate policy? / John Williamson -- Current account deficits : the Australian debate / Rochelle Belkar, Lynne Cockerell, and Christopher Kent -- Experiences with current account deficits in Southeast Asia / Ramon Moreno. 2019-11-01T00:04:07Z 2019-11-01T00:04:07Z 2008 Libro 978-956-7421-30-5 https://hdl.handle.net/20.500.12580/1643 eng Series on Central Banking, Analysis, and Economic Policies, no. 12 Serie Banca Central, análisis y políticas económicas, no. 12 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Documento Completo 582 p. application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	MERCADO DE CAPITALES FINANZAS INTERNACIONALES CUENTAS CORRIENTES
spellingShingle	MERCADO DE CAPITALES FINANZAS INTERNACIONALES CUENTAS CORRIENTES Current account and external financing
description	Are international capital markets a source of stable and reliable financing for emerging market economies, or a source of instability? Is the pattern of capital flows from poor to rich countries observed in the past decade sustainable? What is the optimal degree of capital account openness both for inflows and for outflows? Should small emerging economies actively try to issue external liabilities in domestic currency?. This volume is an attempt to answer some of these questions, at both the theoretical and empirical level. All 15 papers add substantially to the body of theoretical findings, empirical research, and policy lessons on the behavior of the current account and the sources of external financing. Novel evidence is provided regarding sudden stops, international reserve management and fundamentals driving current accounts in commodity-exporting countries. Other analytical research addresses the adjustment of global imbalances and the causes and consequences of capital flows, current account adjustment in emerging economies, and the impact of stocks of international assets and liabilities and their valuation on international adjustment.
author2	Cowan, Kevin, 1970-
author_facet	Cowan, Kevin, 1970-
format	Libro
title	Current account and external financing
title_short	Current account and external financing
title_full	Current account and external financing
title_fullStr	Current account and external financing
title_full_unstemmed	Current account and external financing
title_sort	current account and external financing
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/1643
_version_	1718346194601639936

Current account and external financing

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