scholarly journals The Role of Preventative Capital Account Regulations

2008 ◽  
pp. 170-204 ◽  
Author(s):  
José Antonio Ocampo ◽  
José Gabriel Palma
Keyword(s):  
Capital Account

scholarly journals Znaczenie banków w finansowaniu inwestycji rzeczowych w polskim sektorze przedsiębiorstw

2014 ◽  
pp. 21-32
Author(s):  
Adam Samborski
Keyword(s):  
Capital Account ◽  
Research Issues ◽  
Financing Structure ◽  
Flow Of Funds ◽  
Investment Financing ◽  
Bank Financing ◽  
Financial Account ◽  
Physical Investment

Research issues include the physical investment financing in Polish nonfinancial corporations in 1995 to 2011. The purpose of this study is to identify the structure of physical investment financing in Polish non-financial corporations, and to define the role of bank financing. The data used in the estimation of physical investment financing structure in Polish non-financial corporations, were obtained from two accounts belonging to the accumulation accounts, i.e. the capital account and the financial account. The study used net sources of finance methodology initiated by Mayer [1988, 1990], Corbett and Jenkinson [1994, 1997]. It uses the flow of funds rather than stock data.

Capital Account Liberalization and Firm Innovation: Worldwide Evidence

2021 ◽  
pp. 0148558X2110594
Author(s):  
Fangfang Hou ◽  
Xinpeng Xu
Keyword(s):  
Positive Impact ◽  
Set Covering ◽  
Capital Account ◽  
Legal Environment ◽  
Firm Level ◽  
Firm Innovation ◽  
Capital Account Liberalization ◽  
Data Set ◽  
Innovation Output

This study investigates whether capital account liberalization, a leading characteristic of globalization, is associated with firms’ future innovation output. Employing a novel firm-level panel data set covering 41 countries over two decades, we show that capital account liberalization is significantly associated with higher corporate patenting activities, particularly for firms from innovation-intensive industries. Further analyses show that the effect is stronger among firms from economies in a better legal environment, signifying the important role of good institutional quality in facilitating the positive impact of liberalization. The effect is also stronger among firms with higher initial productivity, consistent with the “productivity” hypothesis, according to which bigger and more productive firms generate more innovation after liberalization. Our findings are robust to the use of various measurements, subsamples, and estimation models. This study provides global firm-level evidence of the real economic impact of financial globalization.

scholarly journals Access Policy in Capital Account Crises

Policy Papers ◽  
2002 ◽  
Vol 2002 (32) ◽  
Author(s):  
Keyword(s):  
Past Experience ◽  
Capital Account ◽  
Crisis Resolution ◽  
Access Policy

The Fund’s decisions to lend to member countries in amounts well above the access limits for Mexico (1995), and since then, have raised important questions about the role of the Fund in crisis resolution and the appropriate size of Fund access in capital account crises. This paper reviews past experience in exceptional access cases and considers strengthened conditions, procedures and safeguards for guiding decisions on Fund programs in these exceptional circumstances where Fund financing above normal access limits may be appropriate.

scholarly journals The Role of Private Sectors for Trade Liberalizatio in Connection with Export Promotion

2020 ◽  
Vol 8 (6) ◽  
Author(s):  
Eprem Ahadu ◽  
Ageze Chufamo
Keyword(s):  
Developing Countries ◽  
Trade Liberalization ◽  
Developed Countries ◽  
Export Promotion ◽  
Economic Liberalization ◽  
Reform Process ◽  
Capital Account ◽  
Contemporary World ◽  
Sustainable Capacity

In contemporary world the neoliberal economists have pursued to establish the thought that economic liberalization consistently promotes growth and decreases poverty in less developed countries. Liberalization of markets in the developing countries, according to them, promotes exports and it will create economic perfection by intensifying competition between domestic and external economic actors and exposing management and workers to improved practices  Did the market liberalization policies of Ethiopia is helpful?  This paper surveys the literature and provides its own assessment of the nexus between private sector and trade liberalization in connection with export promotion. The country's step wise liberalization process has shown some favourable prospects for investment and growth. However, the next steps, liberalizing the capital account and leaving the exchange rate to be determined in the market, among other things, require a skillful design. The capital account which is still left unliberalized has to wait for some time till the economy ensures a sustainable capacity of generating foreign currencies. Otherwise economic instability would follow and consequently, the reform process would be as stake.

scholarly journals Capital account liberalization and income inequality: a panel study of 28 European countries

2021 ◽  
Vol 24 (1) ◽  
Author(s):  
Muhammad Taufik Radhianshah ◽  
Akhmad Syakir Kurnia
Keyword(s):  
Income Inequality ◽  
Panel Study ◽  
Institutional Quality ◽  
Capital Account ◽  
Capital Account Liberalization ◽  
Financial Transaction ◽  
International Scope ◽  
Financial Depth ◽  
Cross Country

Financial globalization has evolved from domestic policy to international scope policy. One of its form is Capital account liberalization which we can observe from the declining number of restrictions among countries for cross-border financial transaction, and the increasing level of capital flow between countries. Europe cross-country financial transaction has been increasing for the last three decades and this increase happened simultaneously with the increase of income inequality as measured with Gini index. This condition gives impression that there is a positive correlation between income inequality and capital account liberalization. This research aims to study whether income inequality corresponds to the increase of capital account liberalization in 28 Europe countries. Furthermore, this research seeks to understand the role of institutional quality and financial depth as threshold variables. By employing System GMM Estimator on balanced panel data, this study finds that capital account liberalization positively correlated with income inequality and institutional quality proven to be important threshold variable. These findings emphasize the urgency for policy maker to consider institutional quality before or during the implementation of capital account liberalization.

scholarly journals Financial flows and the New Developmentalism

2018 ◽  
Vol 38 (1) ◽  
pp. 115-124 ◽  
Author(s):  
Fernando J. Cardim de Carvalho
Keyword(s):  
Exchange Rate ◽  
Current Account ◽  
Manufacturing Firms ◽  
Balance Of Payments ◽  
Capital Account ◽  
Equilibrium Exchange Rate ◽  
Large Measure ◽  
Financial Flows ◽  
Equilibrium Exchange

ABSTRACT New Developmentalism has focused its attention on trade problems created, to a large measure, by the divergences between the exchange rate that keeps the current account of the balance of payments balanced and what it calls industrial equilibrium exchange rate, the rate that would preserve the competitiveness of manufacturing firms operating at the state-or-art frontier. ND acknowledges that these rates may be disturbed by financial flows, but the role of capital account movements may be underestimated. The paper argues that financial flows have indeed been underestimated, which may make more difficult to devise efficacious policies to correct the problem of currency overvaluation.

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