3 edition of Adjustment to external shocks in developing economies found in the catalog.
Adjustment to external shocks in developing economies
Bela A. Balassa
Published
1981
by World Bank in Washington, D.C. (1818 H Street, N.W., Washington 20433)
.
Written in English
Edition Notes
Includes bibliographical references.
| Statement | prepared by Bela Balassa. |
| Series | World Bank staff working paper ;, no. 472 |
| Classifications | |
|---|---|
| LC Classifications | HF1413 .B33 1981 |
| The Physical Object | |
| Pagination | 31, 2 p. ; |
| Number of Pages | 31 |
| ID Numbers | |
| Open Library | OL3864011M |
| LC Control Number | 81185358 |
external shocks such as sudden stops of capital inflows and current account reversals. Sosa and Cashin () in their study on Caribbean countries showed that external shocks are the main source of business cycle fluctuations in the region. The climate shocks, a natural disaster and oil price shocks have a wideFile Size: KB. afiects the transmission of domestic shocks. For some calibrations, closed and open economies appear dramatically difierent, reminiscent of the implications of Mundell-Fleming style models. However, we argue such stark difierences hinge on calibrations that impose an implausibly high trade price elasticity and Frisch elasticity of labor by:
Impact of External Shocks on Domestic Inflation and GDP Working Papers W − 26 Ivo Krznar and Davor Kunovac Zagreb, December of external shocks on inflation in each phase of an imported open economies in both developed and developing countries. In the model, external borrowing is limited by the value of physical capital. Three results are established: (1) Adjustment to external shocks is nonlinear. In response to small negative output shocks, the economy adjusts as prescribed by the intertemporal approach to the current account, with increases in debt, deficits in the trade and Cited by: 3.
We use quarterly data from Peru to examine the relationship between domestic and external permanent shocks and economic fluctuations in developing small open economies. To do so, we estimate a VAR. the impact of external shocks. Motivated by the policy debate about external shocks and debt sustainability (see World Bank, ), we flrst look at the efiect of external shocks on government expenditure and the current account. We flnd that, in response to shocks, government expenditure tends to move in tandem with total GDP.
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Adjustment to external shocks in developing economies. [Bela A Balassa] Home. WorldCat Home About WorldCat Help. Search. Search for Library Items Search for Lists Search for Contacts Search for a Library. Create Book\/a>, schema:CreativeWork\/a> ; \u00A0\u00A0\u00A0 library.
Get this from a library. Adjustment to external shocks in developing economies. [Bela A Balassa; World Bank.]. Balassa B., Tyson L. () Adjustment to External Shocks in Socialist and Private Market Economies.
In: Pasinetti L., Lloyd P. (eds) Structural Change, Economic Interdependence and World by: 6. Abstract. Structural adjustment policies may be defined as policy responses to external shocks, carried out Adjustment to external shocks in developing economies book the objective of regaining the pre-shock growth path of the national economy.
Regaining the growth path, in turn, will necessitate improvements in the balance of payments following the adverse effects of external shocks, Cited by: ADJUSTING TO EXTERNAL SHOCKS: THE NEWLY INDUSTRIALIZING DEVELOPING ECONOMIES IN AND Bela Balassa * The author is Professor of Political Economy at the Johns Hopkins University and Consultant to the World Bank.
He is indebted to Shigeru Akiyama, Eric Manes, and Nadeem Burney for valuable research assistance and to. adjustment to external shocks. III. The Size of the Shocks and Modes of Adjustment: A Typology of Past Performance Before exploring the eight models in detail, it might be useful to place these countries and others like them in some kind of perspective.
Which Third World countries suffered the greatest external shocks over the past decade. ELSEVIER Journal of Development Economics 44 () ECON~MCS. External shocks, adjustment policies and investment in a developing economy: Illustrations from a forward-looking CGE model of the Philippines.
Public Economics Country Economics Department The World Bank August WPS External Shocks, Adjustment Policies, and Investment Illustrations from a Forward-looking OGE Model of the Philippines Delfin S.
Go The rapid increase in investment and external debt of middle-income countries like the Philippines during the s was. OECD countries, such as Gernany, it is not magnitude and composition of external shocks unusual for external shocks to equal 2 percent of should be part of any explanation of why growth GDP in any one year.
And such shocks range as rates differ among countries. Some countries high as 10 percent or more in some developing tend to view favorable.
JOURNAL OF Development ELSEVIER Journal of Development Economics 44 () ECONOMICS External shocks, adjustment policies and investment in a developing economy: Illustrations from a forward-looking CGE model of the Philippines Delfin by: Adjusting to external shocks: the newly industrializing developing economies in and (English)Author: Bela Balassa.
5 Demand shocks affect the aggregate demand for the economy’s output. For example, a global recession may lead to a fall in the demand for a country’s exportables.
This will shift the demand curve from D1D1 to D2D2. Given the short run supply curve S1S, the demand shock leads to lower output and lower prices. We construct unanticipated government spending shocks for developing countries from to and study their effects on income distribution.
We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality. The results are robust to several measures of income distribution and size of the fiscal shocks Author: Davide Furceri, Jun Ge, Prakash Loungani, Giovanni Melina.
Furthermore, U.S. monetary policy shocks are not important for emerging markets relative to other kinds of external shocks. This conclusion is also robust. In a typical emerging market, U.S. monetary policy shocks account for less than 10% of macroeconomic by: The evidence appears to suggest that developing countries with flexible exchange rate regimes are better able to absorb economic shocks (for example, external demand shocks, negative terms-of-trade shocks 54 and natural disasters), and deal more effectively with high current account deficits and exchange rate r than are developing.
Recent international economic events have demonstrated the vulnerability of individual countries to external disturbances, or `shocks'. Such disturbances necessitate major adjustments to developing countries' trade behaviour, and therefore also to their domestic Edition: 1. Wim Naudé, Amelia U. Santos-Paulino and Mark McGillivray The global economic crisis, which erupted about one year ago with the US sub-prime mortgage crisis and the collapse of the investment bank Lehman Brothers, painfully reminds us on how vulnerable developing countries can be to external shocks.
The recent UNU-WIDER volume 'Vulnerability in Developing. The economic impact of a policy shock might even be the goal of a government action. It could be an expected side effect or an entirely unintended consequence as well.
Fiscal policy is, in effect, a deliberate economic demand shock. Structural Adjustment attempts to situate SAPs in a wider development context featuring case material from the UK, USA, Ghana, Mexico, India, Jamaica, Turkey, Eastern Europe, Mali, Zimbabwe and.
The Transmission of Domestic Shocks in Open Economies Christopher Erceg, Christopher Gust, David López-Salido. Chapter in NBER book International Dimensions of Monetary Policy (), Jordi Galí and Mark J. Gertler, editors (p.
89 - ) Conference held JunePublished in February by University of Chicago Press. This is a video recording of a live AS macro revision webinar that looked at some examples of external demand and supply-side shocks that can affect countries Slideshare uses cookies to improve functionality and performance, and to .b.
role of buffers against shocks c. household response to shocks and its indirect effectson well-being- individual and household coping during crises is a criti l b t d t di ditical, but understudied i(Rki&issue (Rankin & Aytac, )- new modulesnew modules on shocks and risks have beenon shocks and risks have beenFile Size: 1MB.The external shocks are further drilled down into various individual shocks, which are terms of trade, interest rate, retardation of world trade growth, burden of debt accumulation, direct investment, workers’ remittances, and transfers.
The policy responses are disaggregated into four components in our study.
