Foreign exchange constraint and developing economies / 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).

Format:

Book

Contributor:

Gevorkyan, Aleksandr V., editor.

Edward Elgar Publishing, publisher.

Language:

English

Subjects (All):

Foreign exchange.

Economic development.

Genre:

Electronic books.

Physical Description:

1 online resource (278 pages)

Place of Publication:

Northampton : Edward Elgar Publishing, 2023.

Summary:

"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"-- Provided by publisher.

Contents:

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.

Notes:

Includes bibliographical references and index.

Description based on print record.

ISBN:

9781800880504 (e-book)

Access Restriction:

Restricted for use by site license.