The Structural Determinants of External Vulnerability:
The authors examine empirically how domestic structural characteristics related to openness and product- and factor-market flexibility influence the impact that terms-of-trade shocks can have on aggregate output. For this purpose, they apply an econometric methodology based on semi-structural vector...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2006
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | The authors examine empirically how domestic structural characteristics related to openness and product- and factor-market flexibility influence the impact that terms-of-trade shocks can have on aggregate output. For this purpose, they apply an econometric methodology based on semi-structural vector auto-regressions to a panel of 90 countries with annual observations for the period 1974-2000. Using this methodology, the authors isolate and standardize the shocks, estimate their impact on GDP, and examine how this impact depends on the domestic conditions outlined above. They find that larger trade openness magnifies the output impact of external shocks, particularly the negative ones, while improvements in labor market flexibility and financial openness reduce their impact. Domestic financial depth has a more nuanced role in stabilizing the economy. It helps reduce the impact of external shocks particularly in environments of high exposure-that is, when trade and financial openness are high, firm entry is unrestricted, and labor markets are rigid |
| Beschreibung: | 1 Online-Ressource (33 Seiten)) |
Internformat
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| 520 | 3 | |a The authors examine empirically how domestic structural characteristics related to openness and product- and factor-market flexibility influence the impact that terms-of-trade shocks can have on aggregate output. For this purpose, they apply an econometric methodology based on semi-structural vector auto-regressions to a panel of 90 countries with annual observations for the period 1974-2000. Using this methodology, the authors isolate and standardize the shocks, estimate their impact on GDP, and examine how this impact depends on the domestic conditions outlined above. They find that larger trade openness magnifies the output impact of external shocks, particularly the negative ones, while improvements in labor market flexibility and financial openness reduce their impact. Domestic financial depth has a more nuanced role in stabilizing the economy. It helps reduce the impact of external shocks particularly in environments of high exposure-that is, when trade and financial openness are high, firm entry is unrestricted, and labor markets are rigid | |
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| 650 | 4 | |a Currencies and Exchange Rates | |
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| 650 | 4 | |a Developing Countries | |
| 650 | 4 | |a Economic Conditions and Volatility | |
| 650 | 4 | |a Economic Fluctuations | |
| 650 | 4 | |a Economic Growth | |
| 650 | 4 | |a Economic Theory and Research | |
| 650 | 4 | |a Emerging Markets | |
| 650 | 4 | |a Exchange Rate | |
| 650 | 4 | |a External Shocks | |
| 650 | 4 | |a Finance and Financial Sector Development | |
| 650 | 4 | |a Financial Depth | |
| 650 | 4 | |a Foreign Exchange | |
| 650 | 4 | |a Free Trade | |
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| 650 | 4 | |a Pro-Poor Growth | |
| 650 | 4 | |a Social Protections and Labor | |
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| 700 | 1 | |a Loayza, Norman V. |e Sonstige |4 oth | |
| 776 | 0 | 8 | |i Loayza, Norman V |a The Structural Determinants of External Vulnerability |
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Datensatz im Suchindex
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| index_date | 2024-07-03T22:27:46Z |
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| language | English |
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| spelling | Loayza, Norman V. Verfasser aut The Structural Determinants of External Vulnerability Loayza, Norman V Washington, D.C The World Bank 2006 1 Online-Ressource (33 Seiten)) txt rdacontent c rdamedia cr rdacarrier The authors examine empirically how domestic structural characteristics related to openness and product- and factor-market flexibility influence the impact that terms-of-trade shocks can have on aggregate output. For this purpose, they apply an econometric methodology based on semi-structural vector auto-regressions to a panel of 90 countries with annual observations for the period 1974-2000. Using this methodology, the authors isolate and standardize the shocks, estimate their impact on GDP, and examine how this impact depends on the domestic conditions outlined above. They find that larger trade openness magnifies the output impact of external shocks, particularly the negative ones, while improvements in labor market flexibility and financial openness reduce their impact. Domestic financial depth has a more nuanced role in stabilizing the economy. It helps reduce the impact of external shocks particularly in environments of high exposure-that is, when trade and financial openness are high, firm entry is unrestricted, and labor markets are rigid Online-Ausg Aggregate Output Business Cycle Currencies and Exchange Rates Debt Markets Developing Countries Economic Conditions and Volatility Economic Fluctuations Economic Growth Economic Theory and Research Emerging Markets Exchange Rate External Shocks Finance and Financial Sector Development Financial Depth Foreign Exchange Free Trade Growth International Economics & Trade Labor Labor Management Macroeconomic Management Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Social Protections and Labor Raddatz, Claudio Sonstige oth Loayza, Norman V. Sonstige oth Loayza, Norman V The Structural Determinants of External Vulnerability http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4089 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Loayza, Norman V. The Structural Determinants of External Vulnerability Aggregate Output Business Cycle Currencies and Exchange Rates Debt Markets Developing Countries Economic Conditions and Volatility Economic Fluctuations Economic Growth Economic Theory and Research Emerging Markets Exchange Rate External Shocks Finance and Financial Sector Development Financial Depth Foreign Exchange Free Trade Growth International Economics & Trade Labor Labor Management Macroeconomic Management Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Social Protections and Labor |
| title | The Structural Determinants of External Vulnerability |
| title_auth | The Structural Determinants of External Vulnerability |
| title_exact_search | The Structural Determinants of External Vulnerability |
| title_exact_search_txtP | The Structural Determinants of External Vulnerability |
| title_full | The Structural Determinants of External Vulnerability Loayza, Norman V |
| title_fullStr | The Structural Determinants of External Vulnerability Loayza, Norman V |
| title_full_unstemmed | The Structural Determinants of External Vulnerability Loayza, Norman V |
| title_short | The Structural Determinants of External Vulnerability |
| title_sort | the structural determinants of external vulnerability |
| topic | Aggregate Output Business Cycle Currencies and Exchange Rates Debt Markets Developing Countries Economic Conditions and Volatility Economic Fluctuations Economic Growth Economic Theory and Research Emerging Markets Exchange Rate External Shocks Finance and Financial Sector Development Financial Depth Foreign Exchange Free Trade Growth International Economics & Trade Labor Labor Management Macroeconomic Management Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Social Protections and Labor |
| topic_facet | Aggregate Output Business Cycle Currencies and Exchange Rates Debt Markets Developing Countries Economic Conditions and Volatility Economic Fluctuations Economic Growth Economic Theory and Research Emerging Markets Exchange Rate External Shocks Finance and Financial Sector Development Financial Depth Foreign Exchange Free Trade Growth International Economics & Trade Labor Labor Management Macroeconomic Management Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Social Protections and Labor |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4089 |
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