Foreign Exchange Constraint and Developing Economies

Buch | Hardcover

278 Seiten

2023
Edward Elgar Publishing Ltd (Verlag)
978-1-80088-049-8 (ISBN)

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Foreign Exchange Constraint and Developing Economies addresses the complex nature of foreign exchange constraint for macroeconomic and social development. The book collects expertise and perspectives from a diverse set of contributions. Using a combination of innovative theoretical and empirical approaches, the book suggests several analytical frameworks to help advance academic research and policy work on foreign exchange and sustainable development.

Chapters explore how trends in exchange rates, currency dynamics and international capital markets impact development models of primarily small open economies. The problems of global capital flows affected by the COVID-19 pandemic are also reviewed. The book presents analyses of both country-level and regional patterns and discusses broader implications for emerging markets.

Exploring urgent questions for academic and policy agendas, this will be an important read for economists and researchers working on the topics of economic development, international economics, open economy, exchange rate management, sovereign debt, central banking, and monetary policy. Applied economists and policymakers will also find this a meaningful resource.

Edited by Aleksandr V. Gevorkyan, Ph.D., Henry George Chair in Economics and Associate Professor, Department of Economics and Finance, The Peter J. Tobin College of Business, St. John’s University, New York, US

Foreword by Barry Eichengreen
Preface and acknowledgements

PART I: CAPITAL MARKETS
1. Foreign exchange constraint and select developing economies: insights from the Caucasus and Central Asia
Aleksandr V. Gevorkyan
2. Domestic sovereign yields puzzle in 2020: falling yields amid a large fiscal
shock in emerging markets
Hayk Avetisyan, Viacheslav Ilin, and Dmitry Yakovlev
3. Wealth composition, valuation effect and upstream capital flows
Uthman M. Baqais
4. Non-financial corporations as financial intermediaries and their
macroeconomic implications: an empirical analysis for Latin America
Claudia de Camino, Esteban Pérez Caldentey and Cecilia Vera

PART II: CURRENCY AND EXCHANGE
RATE
5. Currency relationships over time: a network analysis and case study of
Mexico
Georgia Bush, Serafin Martínez-Jaramillo, Luis O. L. Escobar-Farfán and Erwin
Flores-Tamés
6. On the limits of real exchange-rate targeting under foreign exchange
constraint
Eduardo F. Bastian
7. Optimal foreign exchange reserves in small open economies: the case of the
Caribbean
Dave Seerattan
8. Two sides of a currency crisis in emerging economies: economic and
behavioural side of currency risk derivatives
Elżbieta Kubińska, Joanna Wyrobek, Łukasz Faryj and Anna Macko
9. Real exchange rate, demand growth and labour productivity: a growth model
of cumulative and circular causation
Hugo C. Iasco-Pereira, Fabrício J. Missio, Frederico G. Jayme Jr and Douglas Alencar

PART III: COVID-19 AND OPEN ECONOMY
10. Capital flows and emerging market economies since the global financial
crisis
Otaviano Canuto
11. The Lebanese banking crisis: an exploration of the impaired banking
system
Samar Issa

Index

Erscheinungsdatum	13.01.2023
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
ISBN-10	1-80088-049-9 / 1800880499
ISBN-13	978-1-80088-049-8 / 9781800880498
Zustand	Neuware