Opis: Open Economy - Penelope Hawkins, Hawkins

This title explores the role of money and finance in an open economy. The existence of money and global financial flows compound the likelihood of financial constraints, in particular, financial vulnerability, financial exclusion and financial fragility and create the possibility of unemployment in open economies. Hawkins focuses on financial openness and contends that while vulnerable economies can benefit from long-term international capital, greater financial exposure makes them increasingly susceptible to the crises associated with financial withdrawls. The author explores in detail the experiences of South Africa, Brazil and Thailand and finds that the consequences of financial liberalization remain uncertain. She examines the rationale behind the distribution of credit within and between countries, and goes on to construct a financial vulnerability index as an empirical mechanism to rank nations according to their vulnerability to the withdrawal of international financial flows.Constraints and economic theory: hard and soft budget constraints of the firm, constraints in closed and open systems, endowments and constraining tendencies, blurred and latent financial constraints in open systems, the macroeconomy, feedback effects and systemic constraining tendencies, uncertainty and the convention of money; money, liquidity preference and banks - the monetary economy and uncertainty, endogeneity of the money supply, liquidity preference and the banking system, the banking system and financial restraints; banks' liquidity preference and financial states of constraint - banks' liquidity preference and financial provision, individual and neighbourhood financial exclusion and vulnerability, financial provision and the national financial system, financial exclusion in a regional centre-periphery analysis; liquidity preference and capital flows in an open economy - the consequences of openness - two views, open economies and the role of the balance of payments, international money , capital flows and the vulnerable economy, liquidity preference and the vulnerable economy; financial vulnerability and the open economy - measures of openness, measuring financial exposure, constructing the financial vulnerability index, the index of financial vulnerability, financial vulnerability index and trade intensity measures compared, financial vulnerability index and sovereign credit ratings; three vulnerable economies - Thailand, Brazil and South Africa - balance of payments - composite measures, composition of financial flows by type and maturity, reserves and exchange rate volatility, financial vulnerability and financial fragility; financial constraints on economic activity and employment in South Africa - linkages between the domestic financial sector and the real economy, the spectrum of financial provision from South Africa, the international financial provision spectrum and South Africa, South Africa as a vulnerable economy; international liquidity preference and vulnerable economies - the international spectrum of financial provision, international provision to the fringe, consequences of exposure and integration - the South African case, financially vulnerable countries and the way ahead.

Szczegóły: Open Economy - Penelope Hawkins, Hawkins

Tytuł: Open Economy
Autor: Penelope Hawkins, Hawkins
Producent: Edward Elgar
ISBN: 9781843760283
Rok produkcji: 2003
Ilość stron: 256
Oprawa: Twarda
Waga: 0.58 kg

Recenzje: Open Economy - Penelope Hawkins, Hawkins