Problems of Advanced Economies

1984 ◽  
Keyword(s):  
Advanced Economies

Introduction of Full Convertibility of National Currency: Problems of Theory and Practice

2005 ◽  
pp. 61-71 ◽  
Author(s):  
A. Navoi
Keyword(s):  
Transition Economies ◽  
International Experience ◽  
Theory And Practice ◽  
National Currency ◽  
Russian Economy ◽  
Advanced Economies ◽  
Additional Income

The article is devoted to actual questions of introducing convertibility of the ruble. The structure and definitions of convertibility are considered. On the basis of the international experience the economic essence of convertibility as a source of additional income of the states-emissioners is revealed. The sequence of stages of convertibility in advanced economies is presented, basic problems of introducing convertibility in developing as well as in transition economies are studied. The experience of transition to convertibility of the ruble and corresponding consequences for the Russian economy are analyzed.

Conditions and possibilities for symbiosis of Russia with developed countries

2020 ◽  
Vol 26 (4) ◽  
pp. 815-834
Author(s):  
V.V. Smirnov
Keyword(s):  
Growth Rate ◽  
Systems Approach ◽  
Government Expenditure ◽  
Developed Countries ◽  
High Tech ◽  
Global Recession ◽  
Advanced Economies ◽  
Small Countries ◽  
And Cluster Analysis ◽  
Favorable Conditions

Subject. The article considers the symbiosis of Russia with developed countries. Objectives. The purpose is to identify conditions and possibilities for the symbiosis of Russia with advanced economies to establish a process of concentrated internationalization of financial capital for the market economy development completion, formation of full-fledged capitalism with stable dynamics of productive forces. Methods. The study rests on the systems approach, using the methods of descriptive statistics, neural network, nonparametric and cluster analysis. Results. The study reveals favorable conditions for the symbiosis of Russia with developed countries. They appear due to low requirements to the volume and connectivity of attracted high-tech capital. This enables to use the potential of small countries, motivating them to satisfy their ‘resource hunger’. Russia's transition to the said symbiosis is hindered by the policy of smooth devaluation of the national currency, which is used to increase the growth rate of total government expenditure and current GDP, and adversely affects the growth rate of gross national saving. Conclusions. The grounds for emergence of conditions and opportunities for the symbiosis of Russia with developed countries include the high values of financial development and low economic growth in Russia against the declining growth rates of the world economy and weakening of globalization process. The basis of Russia's symbiosis with developed countries is the mutually agreed necessity to internationalize capital in the form of investment financial institutions, which increase its concentration in production for the development of productive forces in conditions of the increasing risk of global recession.

Conclusions

2017 ◽  
Author(s):  
Yilmaz Akyüz
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Interest Rates ◽  
Global Financial Crisis ◽  
Developing Economies ◽  
Quantitative Easing ◽  
Unconventional Monetary Policy ◽  
Advanced Economies ◽  
The Global Financial Crisis ◽  
Zero Bound

The preceding chapters have examined the deepened integration of emerging and developing economies (EDEs) into the international financial system in the new millennium and their changing vulnerabilities to external financial shocks. They have discussed the role that policies in advanced economies played in this process, including those that culminated in the global financial crisis and the unconventional monetary policy of zero-bound interest rates and quantitative easing adopted in response to the crisis, as well as policies in EDEs themselves....

FDI, Industrialization, and Development

2017 ◽  
Author(s):  
Yilmaz Akyüz
Keyword(s):  
Industrial Policy ◽  
Transnational Corporations ◽  
Competitive Advantages ◽  
Policy Space ◽  
Management Skills ◽  
Host Countries ◽  
Strong Case ◽  
The Past ◽  
Advanced Economies ◽  
International Investors

Superior technology and management skills of transnational corporations (TNCs) can bring significant benefits to EDEs. However, they cannot be expected to pass willingly the competencies that bring them competitive advantages or act with a developmental perspective and help build potentially efficient local industries. Their contribution to industrialization and development depends very much on deliberate policies of host countries. Lessons from experience suggest that successful examples are found not among EDEs that attracted more FDI, but among those which used it effectively in the context of national industrial policy. However, the past two decades have seen a rapid erosion of policy space in EDEs as a result of bilateral investment treaties signed with more advanced economies, allowing significant leverage to international investors. There is a strong case for renegotiating or terminating them since they greatly compromise the ability of EDEs to benefit from FDI for industrialization and development.

Spillovers to the Global South

2017 ◽  
Author(s):  
Yilmaz Akyüz
Keyword(s):  
World Economy ◽  
Commodity Prices ◽  
Global South ◽  
Capital Inflows ◽  
Global Crisis ◽  
Advanced Economies ◽  
The World ◽  
Run Up ◽  
Global Growth ◽  
Very High

The crisis demolished the myth that EDEs were decoupled from advanced economies and BRICS were becoming new engines of global growth. From 2011 onwards, with the end of the twin booms in commodity prices and capital inflows, growth in EDEs has converged downward towards the depressed levels of advanced economies from the very high levels achieved in the run-up to the global crisis and the immediate aftermath. Loss of momentum is particularly visible in economies that failed to manage the earlier booms prudently. In examining the spillovers from policies in major advanced economies and China to EDEs, the chapter introduces the notion of commodity-finance nexus wherein these markets reinforce each other during both expansions and contractions. The chapter concludes with a brief discussion of policies needed to put the world economy into decent shape and to avoid liquidity and debt crises in EDEs.

scholarly journals Commodity price pass-through along the pricing chain

2021 ◽  
Author(s):  
Rebeca Jiménez-Rodríguez ◽  
Amalia Morales-Zumaquero
Keyword(s):  
Emerging Economies ◽  
Raw Materials ◽  
Commodity Prices ◽  
Commodity Price ◽  
Emerging Countries ◽  
Consumer Prices ◽  
Advanced Economies ◽  
The World ◽  
Producer Prices ◽  
Pass Through

AbstractThis paper analyses the commodity price pass-through along the pricing chain for the global commodity price index and the indices of its main categories (i.e., agricultural raw materials, food and beverages, energy and metals) in the world, advanced and emerging economies. To do so, the study considers country-by-country vector autoregression models and pool the results by taking weighted means for 18 advanced economies and 19 emerging countries, as well as for the world (defined as the sum of advanced and emerging economies). The results show the following: (i) there is evidence in favour of partial pass-through from commodity prices to producer prices, although the evidence for the pass-through to consumer prices is less evident; (ii) the pass-through in the world seems to be led by both advanced and emerging countries for producer prices and only by advanced economies for consumer prices; (iii) higher prices in the four categories (agricultural raw materials only in the short-run) induce significant higher producer prices in almost all cases, with shocks in the prices of energy and metals showing the largest effects; and (iv) energy prices explain the highest variability of producer and consumer prices.

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