The Impact of Trade and Exchange-rate Policy Reforms on North African Manufactured Exports
作者:Khalid Sekkat、Aristomene Varoudakis
DOI:10.1111/1467-7679.00164
日期:2002.5
Three indicators capture the impact of exchange‐rate policy in fostering manufactured exports from North Africa: changes in the real effective exchange rate (REER), its volatility, and its misalignment. The impact of trade policy is examined using a trade liberalisation indicator. Export supply equations are estimated for three manufacturing industries: textiles, chemicals, and food. The results suggest that trade and exchange‐rate policies matter for export performance, as is evidenced by the negative influence exerted independently by real exchange‐rate misalignment and volatility and by the positive influence of trade liberalisation.
Does FDI Guarantee the Stability of International Capital Flows? Evidence from Malaysia
作者:Graham Bird、Ramkishen S. Rajan
DOI:10.1111/1467-7679.00165
日期:2002.5
The conventional wisdom is that crises are largely due to swings in short‐term capital. Economies that finance their current account deficits mainly via foreign direct investment (FDI) are therefore seen as being less susceptible to a crisis. The analysis in this article, backed up by some empirical evidence drawn from Malaysia, challenges the casual presumption that the switch towards FDI alone will automatically imply that extreme capital instability will become a thing of the past.
HARSTHORN, M. P.;RICHARDS, K. E.;TOMPSON, R. S.;VAUGHAN, J., AUSTRAL. J. CHEM., 1981, 34, N 6, 1345-1347
作者:HARSTHORN, M. P.、RICHARDS, K. E.、TOMPSON, R. S.、VAUGHAN, J.