International Competitiveness Of The Mediterranean Quartet
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International Competitiveness Of The Mediterranean Quartet
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Author : Mr.Herman Z. Bennett
language : en
Publisher: International Monetary Fund
Release Date : 2008-10-01
International Competitiveness Of The Mediterranean Quartet written by Mr.Herman Z. Bennett and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-01 with Business & Economics categories.
The real effective exchange rate (REER) is the most commonly used measure for assessing international competitiveness. We develop a methodology to estimate the REER that incorporates two distinctive elements that are not considered in the current literature and apply it to the Mediterranean Quartet (MQ) of Greece, Italy, Portugal, and Spain, whose common pattern of real appreciation has created concern in policy and academic circles. The two elements that we add to the existing literature are (i) product heterogeneity when identifying each country's international competitors and their weights and (ii) a comprehensive treatment of services exports. Our refined measure suggests a modest reduction in the observed REER gap between the MQ countries and the other euro area countries. In particular, considering product heterogeneity and services exports implies a lower real appreciation from 1998 to 2006 on the order of 2-3 percent for all MQ countries. These are difference-in-difference estimates relative to the results obtained for the rest of the euro area countries using the same methodology.
Imf Working Papers
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Author : Herman Z. Bennett
language : en
Publisher:
Release Date : 2008
Imf Working Papers written by Herman Z. Bennett and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Electronic books categories.
Trade And Environment And International Competitiveness In The Mediterranean Region
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Author : Harvard Institute for International Development
language : en
Publisher:
Release Date : 2000
Trade And Environment And International Competitiveness In The Mediterranean Region written by Harvard Institute for International Development and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Competition, International categories.
Imf Staff Papers Volume 56 No 4
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-11-04
Imf Staff Papers Volume 56 No 4 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-04 with Business & Economics categories.
This paper empirically evaluates four types of costs that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises.
Innovation And Competitiveness In The Mediteranean Area
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Author : Enrico Acquati
language : en
Publisher:
Release Date : 2013
Innovation And Competitiveness In The Mediteranean Area written by Enrico Acquati and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Competitiveness In The Southern Euro Area
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Author : Mr.Yuan Xiao
language : en
Publisher: International Monetary Fund
Release Date : 2008-04-01
Competitiveness In The Southern Euro Area written by Mr.Yuan Xiao and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-01 with Business & Economics categories.
This collection of studies analyzes developments in nonprice external competitiveness of France, Greece, Italy, Portugal, and Spain. While France, Italy, and Portugal have experienced substantial export market share losses, Greece and Spain performed relatively well. Export market share losses appear associated with rigidities in resource allocation (sectoral, geographical, technological) relative to peers and lower productivity gains in high value-added sectors. Disaggregated analysis of goods and services export markets provides insights on aspects such as quality, market concentration, growth of destination markets, and geographical and sectoral diversification. Also, increased import penetration, offshoring and FDI could improve productivity and export performance.
The Impact Of Capital And Foreign Exchange Flowson The Competitiveness Of Developing Countries
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Author : Mr.Bassem Kamar
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01
The Impact Of Capital And Foreign Exchange Flowson The Competitiveness Of Developing Countries written by Mr.Bassem Kamar and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.
Attracting capital and foreign exchange flows is crucial for developing countries. Yet, these flows could lead to real exchange rate appreciation and may thus have detrimental effects on competitiveness, jeopardizing exports and growth. This paper investigates this dilemma by comparing the impact of six types of capital and foreign exchange flows on real exchange rate behavior in a sample of 57 developing countries covering Africa, Europe, Asia, Latin America, and the Middle East. The results reveal that portfolio investments, foreign borrowing, aid, and income lead to real exchange rate appreciation, while remittances have disparate effects across regions. Foreign direct investments have no effect on the real exchange rate, contributing to resolve the above dilemma.
Assessing Competitiveness Using Industry Unit Labor Costs
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-04-01
Assessing Competitiveness Using Industry Unit Labor Costs written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-01 with Business & Economics categories.
Conceptual ambiguities and statistical weaknesses hamper the assessment of external competitiveness. The term competitiveness, while applied extensively, is often imprecisely defined, which can result in analytical errors and mistaken policy advice. Furthermore, aggregate statistical measures of competitiveness in terms of exchange rate misalignment can be biased. To address these issues, this paper makes two contributions. First, it clarifies the external competitiveness concept, highlighting the dichotomy between productivity-driven long-run growth and short-run deviations from the underlying growth trajectory, which can be related to exchange rate misalignment. Second, it develops a disaggregated statistical approach for examining competitiveness based on unit labor costs at the three digit industry level in a group of comparable countries. The case of Slovakia is used to illustrate these concepts, but the analytical insights have general application.
Imf Research Bulletin December 2008
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2008-12-11
Imf Research Bulletin December 2008 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-11 with Business & Economics categories.
December 2008: IMF research summaries on global herding in financial markets (by Marco Cipriani) and on fiscal decentralization (by Lusine Lusinyan); article on the experiences of IMF staff at the Nobel Laureate Meetings in Lindau, Germany (by Chris Crowe); listing of visiting scholars at the IMF during August–December 2008; listing of contents of Vol. 55 No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a Call for Papers for an upcoming conference on structural reforms.
Handbook Of Financial Integration
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Author : Guglielmo M. Caporale
language : en
Publisher: Edward Elgar Publishing
Release Date : 2024-05-02
Handbook Of Financial Integration written by Guglielmo M. Caporale and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-02 with Business & Economics categories.
This comprehensive Handbook deftly examines key aspects of financial integration, providing an overview of contemporary research and new perspectives. Employing state of the art econometric methods to obtain new empirical evidence, it will be critical for designing optimal policies, and appropriate investment and risk management strategies.