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Does Openness to International Financial Flows Raise Productivity Growth?

Does Openness to International Financial Flows Raise Productivity Growth? »

Source: Does Openness to International Financial Flows Raise Productivity Growth?

Volume/Issue: 2008/242

Series: IMF Working Papers

Author(s): Eswar Prasad , Marco Terrones , and Ayhan Kose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

ISBN: 9781451871005

Keywords: Financial openness, external assets and liabilities, portfolio equity, tfp, capital account openness, economic growth,

This paper provides a comprehensive analysis of the relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various measures of productivity and f...

Workers’ Remittances

Workers’ Remittances »

Source: Workers' Remittances : An Overlooked Channel of International Business Cycle Transmission?

Volume/Issue: 2012/251

Series: IMF Working Papers

Author(s): Adolfo Barajas , Ralph Chami , Christian Ebeke , and Sampawende Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 October 2012

ISBN: 9781475535822

Keywords: Business Cycle Synchronization, remittance, business cycle, remittance flows, Financial Aspects of Economic Integration, Open Economy Macroeconomics,

This paper shows that remittance flows significantly increase the business cycle synchronization between remittance-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data...

How Has Nafta Affected the Mexican Economy? Review and Evidence

How Has Nafta Affected the Mexican Economy? Review and Evidence »

Source: How Has Nafta Affected the Mexican Economy? Review and Evidence

Volume/Issue: 2004/59

Series: IMF Working Papers

Author(s): Ayhan Kose , Christopher Towe , and Guy Meredith

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451847970

Keywords: NAFTA, Growth, free trade, business cycle, trade flows, International Economic Order, Financial Aspects of Economic Integration, Open Economy Macroeconomics,

This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico...

Revisiting the Link Between Finance and Macroeconomic Volatility

Revisiting the Link Between Finance and Macroeconomic Volatility »

Source: Revisiting the Link Between Finance and Macroeconomic Volatility

Volume/Issue: 2013/29

Series: IMF Working Papers

Author(s): Era Dabla-Norris , and Narapong Srivisal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2013

ISBN: 9781475543988

Keywords: Financial Depth, Macroeconomic Volatility, private consumption, external shocks, trade openness, growth rate, terms of trade, Financial Markets and the Macroeconomy, Macroeconomic Analyses of Economic Development,

This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampe...

Regionalization vs. Globalization

Regionalization vs. Globalization »

Source: Regionalization vs. Globalization

Volume/Issue: 2013/19

Series: IMF Working Papers

Author(s): Hideaki Hirata , Ayhan Kose , and Christopher Otrok

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2013

ISBN: 9781557753281

Keywords: Comovement, Synchronization, Trade linkages, Financial linkages, business cycle, business cycle synchronization, regional trade, global trade, Bayesian Analysis, Time-Series Models

Abstract: Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution o...

Constraintson Growth in the MENA Region

Constraintson Growth in the MENA Region »

Source: Constraintson Growth in the MENA Region

Volume/Issue: 2010/30

Series: IMF Working Papers

Author(s): Rina Bhattacharya , and Hirut Wolde

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962574

Keywords: Growth, Physical infrastructure, Labor skill shortages, Financial constraints, survey, gdp growth, surveys, growth model, Open Economy Macroeconomics, Intertemporal Choice And Growth,

In this paper we contribute to the empirical literature on growth in the MENA region by attempting to quantify the impact of the various constraints faced by local businesses highlighted by the World Bank’s...

Growth Dynamics

Growth Dynamics »

Source: Growth Dynamics : The Myth of Economic Recovery

Volume/Issue: 2005/147

Series: IMF Working Papers

Author(s): Sweta Saxena , and Valerie Cerra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

ISBN: 9781451861662

Keywords: Growth, Output Loss, Recovery, Crises, Wars, recession, growth rate, growth rates, financial crises, Economic Growth of Open Economies

Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative s...

Economic Integration, Business Cycle, and Productivity in North America

Economic Integration, Business Cycle, and Productivity in North America »

Source: Economic Integration, Business Cycle, and Productivity in North America

Volume/Issue: 2004/138

Series: IMF Working Papers

Author(s): Ayhan Kose , and Roberto Cardarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2004

ISBN: 9781451856019

Keywords: NAFTA, CUSFTA, tfp, free trade, business cycle, trade flows, Open Economy Macroeconomics, Financial Aspects of Economic Integration, International Factor Movements and International Business,

This paper examines the effect of the major Canada-U.S. trade agreements on the dynamics of business cycles and productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canad...

Business Cycles in Emerging Markets

Business Cycles in Emerging Markets »

Source: Business Cycles in Emerging Markets : The Role of Durable Goods and Financial Frictions

Volume/Issue: 2011/133

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455259380

Keywords: real business cycles, durables, financial frictions, business cycles, total consumption, interest rates, business cycle, elasticity of substitution, Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

This paper examines how durable goods and financial frictions shape the business cycle of a small open economy subject to shocks to trend and transitory shocks. In the data, nondurable consumption is not as volatil...

Does Openness to International Financial Flows Raise Productivity Growth?

Does Openness to International Financial Flows Raise Productivity Growth? »

Volume/Issue: 2008/242

Series: IMF Working Papers

Author(s): Eswar Prasad , Marco Terrones , and Ayhan Kose

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

DOI: http://dx.doi.org/10.5089/9781451871005.001

ISBN: 9781451871005

Keywords: Financial openness, external assets and liabilities, portfolio equity, tfp, capital account openness, economic growth,

This paper provides a comprehensive analysis of the relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various measures of productivity and f...