Liberalising capital flows in developing countries: pitfalls, prerequisites and perspectives
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Paris
Development Centre of the Organisation for Economic Co-operation and Development
1993
|
| Series: | Development Centre studies
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Franz. Paralellausg. u.d.T.: Libéralisation des mouvements de capitaux dans les pays en développement |
| Physical Description: | 155 S. graph. Darst. |
| ISBN: | 9264139931 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Table of Contents
Acknowledgements 9
Preface 11
Executive Summary 13
Chapter 1 Financial Market Integration, North and South 19
The Globalisation of Financial Markets in OECD Countries 19
The Financial Integration of Developing Countries 22
Chapter 2 Financial Reform in Developing Countries: Objectives,
Speed and Scope 31
The Ultimate Objectives of Financial Opening 31
Speed and Scope of Financial Liberalisation 33
Chapter 3 The Macroeconomics of Capital Account Liberalisation 39
The Pros and Cons of Capital Controls 39
Exchange Rate Consequences 41
The Pegged Rate Case: The Southern Cone Experience Revisited 43
The Floating Rate Case: New Zealand s Reform 51
Managed Floating: The Impossible Trinity in Southeast Asia 67
Chapter 4 The Microeconomics of Financial Opening 87
Failure and Success of Financial Liberalisation 87
The Microeconomics of Sustained Interest Differentials 97
Financial Sector Instability 102
Chapters Policies Towards CapiUI Account Convertibility 125
Macroeconomic Management and Market Deepening 125
Bank Competition and Supervision 127
Solving the Bad Loan Problem 129
Phasing Out Capital Controls 131
Appendix Time varying Estimates of the Openness of the Capital Account
in Korea and Taiwan 133
Bibliographical References 149
5
Tables
1. Alternative Measures of Financial Market Integration 26
2. Payments Systems in OECD and non OECD Countries, 1990 28
3. Interest Rate Determination in Dynamic Asian Economies, 1980s 29
4. Scope and Speed of Financial Reforms in Selected Countries 36
5. New Zealand: Indicators of Comparative Performance 78
6. New Zealand: Profitability and Allocation of Investment 79
7. New Zealand: Indicators of Tradable Performance 80
8. Capital Market Pressure on New Zealand s Real Exchange Rate, 1983 88 81
9. Macroeconomic Indicators, New Zealand, 1984 89 82
10. New Zealand: Alternative Export Volume Equations, 1980 90 83
11. The Timing of the Structural Break in New Zealand s Manufactured
Export Function 84
12. Macroeconomic Performance in Indonesia, Malaysia and Singapore 85
13. Interest Rates and Spreads in the Southern Cone Countries, 1975 83 107
14. Interest Rate Differentials in Selected Asian Countries, 1975 86 110
15. Indicators for Financial Deepening in Reforming Countries, 1975 86 Ill
16. Maturity Structure of Time Deposits in Indonesia and Malaysia 113
17. Indicators of Size for Stock Markets in Selected Countries, end 1980, 1984 and 1989 . 114
18. Foreign Banking Presence in Selected Countries, 1970 87 116
19. Chile: Concentration of Credit to Related Parties, February 1983 117
20. Indicators of Bank Performance in Selected Countries, 1980 83 118
21. Ratios of Bank Concentration in Selected Countries 119
22. Non performing Loans in the Southern Cone Countries, 1980 87 120
23. Non performing Loans in Taiwan, 1980 88 121
24. Macroeconomic and Institutional Features of Financial Reforms
in Selected Countries 122
25. Financing Corporate Growth: After Tax Retention Ratios, Internal and External
Finance of Growth in Selected Countries, 1980 88 123
6
Figures
1. Uruguay: Balance of Payments, 1972 83 44
2. Uruguay: Real Effective Exchange Rates, 1972:4 1983:4 44
3. Argentina: Balance of Payments, 1976 83 47
4. Argentina: Real Effective Exchange Rates, 1976:3 1983:4 47
5. Chile: Balance of Payments, 1977 83 50
6. Chile: Real Effective Exchange Rates, 1977:3 1983:4 50
7. New Zealand: Real Exchange Rate, Terms of Trade and Interest Rate Differentials ... 56
8. New Zealand: Actual and Simulated Manufactured Exports 63
9. New Zealand: Pricing to the Market 64
10. Real Effective Exchange Rates: Indonesia, Malaysia, and Singapore 69
11. Singapore: Balance of Payments, 1984 90 70
12. Sources of Monetary Base: Singapore 73
13. Malaysia: Balance of Payments, 1984 90 74
14. Indonesia: Balance of Payments, 1984 90 75
Al Korea and Taiwan: Interest Differentials and Exchange Rate Changes 136
A2 Korea (Curb Market): AR1 and Time varying Index of Financial Openness 140
A3 Taiwan (Curb Market): OLS and Tune varying Index of Financial Openness 141
A4 Taiwan (Interbank Call Loans): AR1 and Time varying Index of Financial Openness .. 144
7
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| any_adam_object | 1 |
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| spelling | Fischer, Bernhard 1951- Verfasser (DE-588)131860895 aut Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives by Bernhard Fischer and Helmut Reisen Paris Development Centre of the Organisation for Economic Co-operation and Development 1993 155 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Development Centre studies Franz. Paralellausg. u.d.T.: Libéralisation des mouvements de capitaux dans les pays en développement Betalingsbalans gtt Kapitaalmarkt gtt Entwicklungsländer Capital movements Developing countries Internationale Kapitalbewegung (DE-588)4162044-6 gnd rswk-swf Kapitalbewegung (DE-588)4132737-8 gnd rswk-swf Liberalisierung (DE-588)4120670-8 gnd rswk-swf Países subdesarrollados - Finanzas públicas Países subdesarrollados - Política económica Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 g Internationale Kapitalbewegung (DE-588)4162044-6 s Liberalisierung (DE-588)4120670-8 s DE-604 Kapitalbewegung (DE-588)4132737-8 s Reisen, Helmut 1950- Verfasser (DE-588)109138694 aut Parallele Sprachausgabe französisch Fischer, Bernhard Libéralisation des mouvements de capitaux dans les pays endéveloppement HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=005470385&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Fischer, Bernhard 1951- Reisen, Helmut 1950- Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives Betalingsbalans gtt Kapitaalmarkt gtt Entwicklungsländer Capital movements Developing countries Internationale Kapitalbewegung (DE-588)4162044-6 gnd Kapitalbewegung (DE-588)4132737-8 gnd Liberalisierung (DE-588)4120670-8 gnd |
| subject_GND | (DE-588)4162044-6 (DE-588)4132737-8 (DE-588)4120670-8 (DE-588)4014954-7 |
| title | Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives |
| title_auth | Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives |
| title_exact_search | Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives |
| title_full | Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives by Bernhard Fischer and Helmut Reisen |
| title_fullStr | Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives by Bernhard Fischer and Helmut Reisen |
| title_full_unstemmed | Liberalising capital flows in developing countries pitfalls, prerequisites and perspectives by Bernhard Fischer and Helmut Reisen |
| title_short | Liberalising capital flows in developing countries |
| title_sort | liberalising capital flows in developing countries pitfalls prerequisites and perspectives |
| title_sub | pitfalls, prerequisites and perspectives |
| topic | Betalingsbalans gtt Kapitaalmarkt gtt Entwicklungsländer Capital movements Developing countries Internationale Kapitalbewegung (DE-588)4162044-6 gnd Kapitalbewegung (DE-588)4132737-8 gnd Liberalisierung (DE-588)4120670-8 gnd |
| topic_facet | Betalingsbalans Kapitaalmarkt Entwicklungsländer Capital movements Developing countries Internationale Kapitalbewegung Kapitalbewegung Liberalisierung Países subdesarrollados - Finanzas públicas Países subdesarrollados - Política económica |
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