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This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts of money into the financial system without facing major short-run adverse macroeconomic repercussions. Using panel data techniques, the paper analyzes episodes of financial turmoil in 16 Latin America during 1995-2007. The results show that developing and emerging market countries should be cautious because injecting money on a large scale into the financial system may fuel further macroeconomic instability, increasing the chances of simultaneous currency crises.
This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.
This volume provides insights on the role of trade finance in the 2008-2009 ?Great Trade Collapse" and the subsequent role of governments and institutions to help restore trade finance markets. It is the product of a fruitful collaboration between the World Bank Group, international financial partners, private banks, and academia.
A valuable interdisciplinary resource examining the concept and effectiveness of CSR as a tool for sustainable development in emerging markets.
U.S. International Investment Agreements is the definitive interpretative guide to the United States' bilateral investment treaties (BITs) and free trade agreements (FTAs) with investment chapters. Providing an authoritative look at the development of the BIT program, treatment provisions, expropriation, and other provisions, Kenneth J. Vandevelde draws on his years of investment treaty and agreement expertise as both a former practitioner and a scholar. This unique and well-organized book analyzes the development of U.S. international investment agreement language and strategy within their historical context. It also explains the newest changes to the model negotiating text (US Model BIT 2004) and additional treaties.
The Essential Cult TV Reader is a collection of insightful essays that examine television shows that amass engaged, active fan bases by employing an imaginative approach to programming. Once defined by limited viewership, cult TV has developed its own identity, with some shows gaining large, mainstream audiences. By exploring the defining characteristics of cult TV, The Essential Cult TV Reader traces the development of this once obscure form and explains how cult TV achieved its current status as legitimate television. The essays explore a wide range of cult programs, from early shows such as Star Trek, The Avengers, Dark Shadows, and The Twilight Zone to popular contemporary shows such as Lost, Dexter, and 24, addressing the cultural context that allowed the development of the phenomenon. The contributors investigate the obligations of cult series to their fans, the relationship of camp and cult, the effects of DVD releases and the Internet, and the globalization of cult TV. The Essential Cult TV Reader answers many of the questions surrounding the form while revealing emerging debates on its future.
This book studies the main causes, consequences and nature of the Asia-Pacific's new free trade agreement (FTA) trend, and its implications for the global economy. It explores the FTA policies of the region's trade powers and offers conceptual and theoretical perspectives on the relationship between economic bilateralism and regionalism.
How was the military dictatorship of Idi Amin possible? Was it inevitable? The author seeks the answers to these questions in the political and military history of Uganda from colonial times and finally considers the regimes which have followed Amin's dictatorship in Uganda, exploring the political role of the army after it has taken power. This case study of Uganda contains valuable insights into civil-military relations elsewhere in sub-Saharan Africa.