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Essays On Institutional Quality Macroeconomic Stabilization And Economic Growth In International Monetary Fund Member Countries


Essays On Institutional Quality Macroeconomic Stabilization And Economic Growth In International Monetary Fund Member Countries
Author: Omer Javed
Publisher:
ISBN:
Size: 71.60 MB
Format: PDF, ePub, Mobi
View: 5232
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"This study is motivated by the overall poor performance of International Monetary Fund (IMF) programs in recipient countries in terms of economic growth consequences, and tries to explore the relevance of institutional determinants for economic growth in these program countries. The analysis, at the same time, also takes into consideration the claim by New Institutional Economics (NIE) literature, which points out an overall positive consequence of institutional quality determinants on economic growth for countries in general. Taking a panel data of IMF member countries, the thesis primarily focuses on the IMF program countries, during 1980-2009; a time period during which the number of IMF programs witnessed an increasing trend. Firstly, important determinants of economic- and political institutional quality in IMF program countries are estimated by applying the System- G12 approach, so as to find significant determinants among them. Here, a parliamentary form of government, aggregate governance level, civil liberties, openness, and property rights all enhance overall institutional quality. Specifically, greater monetary- and investment freedom are conducive for political institutional quality, while military in power impacts negatively. Moreover, economic growth is conducive for enhancing economic institutional quality. Thereafter, the impact of the significant institutional determinants is then estimated on real economic growth, both directly, and also indirectly, through the channel of macroeconomic stability. Results mainly validate that institutional determinants overall play a positive role in reducing macroeconomic instability, and through it, and also independently, enhance real economic growth. In the last part of the thesis, Pakistan is selected as a representative example of a frequent user of IMF resources. Here, by applying the Vector Autoregression (VAR) model techniques, various counterfactual scenarios are estimated for a period of 1980-2014, to see impact of an institutional determinant, KOF index of globalization on macroeconomic instability and real economic growth. Results highlight that through enhanced focus on institutional reduced, and hence higher growth rate of GDP can be achieved."--TDX.




The Economic Impact Of International Monetary Fund Programmes


Essays On Institutional Quality Macroeconomic Stabilization And Economic Growth In International Monetary Fund Member Countries
Author: Omer Javed
Publisher: Springer
ISBN: 3319291785
Size: 22.10 MB
Format: PDF, ePub, Docs
View: 5711
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This book investigates the impact of International Monetary Fund (IMF) programmes on macroeconomic instability and economic growth in recipient countries. Employing the New Institutional Economics approach as an analytical framework, it identifies the determinants of economic and political institutional quality by taking into account a broad variety of indicators such as parliamentary forms of government, the aggregate governance level, civil and economic liberties, property rights etc. The book subsequently estimates the impact of these institutional determinants on real economic growth, both directly and also indirectly, through the channel of macroeconomic instability, in recipient countries. Moreover, it illustrates the effectiveness of IMF programmes in the case of Pakistan, a frequent user of IMF resources.




Comparative Approaches To Old And New Institutional Economics


Essays On Institutional Quality Macroeconomic Stabilization And Economic Growth In International Monetary Fund Member Countries
Author: Akansel, Ilkben
Publisher: IGI Global
ISBN: 179980335X
Size: 43.79 MB
Format: PDF
View: 5772
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As today’s world develops and evolves, so does its economics. New economic approaches have begun to emerge, but traditional methods are still being implemented. As both systems provide different solutions to society’s economic issues, thoughtful research and analysis is required regarding the tactics and strategies that both theories utilize. Comparative Approaches to Old and New Institutional Economics is an essential reference source that discusses the sequential history of these two economic theories as well as their application to global fiscal disputes. Featuring research on topics such as international relations, business management, and institutionalism, this book is ideally designed for economists, analysts, managers, researchers, practitioners, academicians, and students seeking coverage on the parallel methods of these economic philosophies.




World Finance And Economic Stability


Essays On Institutional Quality Macroeconomic Stabilization And Economic Growth In International Monetary Fund Member Countries
Author: James Tobin
Publisher: Edward Elgar Pub
ISBN:
Size: 79.88 MB
Format: PDF
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Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations depends uniquely on these policies and it is important to be aware of their impact. This book brings together James Tobin's recent work, both published and unpublished, on finance and globalization, currency crises and bailouts. Emphasis is placed on international economic relations and policies, and on the IMF and World Bank. In particular, economic and monetary relations among nations, exchange rate problems and policies and the 'Tobin Tax' - popular in Europe but much misunderstood - are discussed. Professor Tobin also examines the impact of his earlier work on recent US fiscal policy. The Clinton administration followed a tight fiscal policy leading to budget surpluses, and this enabled Alan Greenspan at the Federal Reserve to follow an 'easy', low interest rate, monetary policy. This mix was advocated back in the 1950s and 1960s by Paul Samuelson and James Tobin. The memo Professor Tobin wrote for the J.F. Kennedy campaign of 1960 is published for the first time. The policy was not applied until 30-35 years later. Presenting a framework for understanding monetary and fiscal policies and how they determine full employment and growth, the book will prove invaluable to students and scholars of macroeconomics, as well as economists wishing to gain an insight into Professor Tobin's unique contribution to economics.



Essays on institutional quality, macroeconomic stabilization, and economic growth in International Monetary Fund member countries
Language: es
Pages: 116
Authors: Omer Javed
Categories:
Type: BOOK - Published: 2015 - Publisher:
"This study is motivated by the overall poor performance of International Monetary Fund (IMF) programs in recipient countries in terms of economic growth consequences, and tries to explore the relevance of institutional determinants for economic growth in these program countries. The analysis, at the same time, also takes into consideration
The Economic Impact of International Monetary Fund Programmes
Language: en
Pages: 125
Authors: Omer Javed
Categories: Business & Economics
Type: BOOK - Published: 2016-03-17 - Publisher: Springer
This book investigates the impact of International Monetary Fund (IMF) programmes on macroeconomic instability and economic growth in recipient countries. Employing the New Institutional Economics approach as an analytical framework, it identifies the determinants of economic and political institutional quality by taking into account a broad variety of indicators such
Comparative Approaches to Old and New Institutional Economics
Language: en
Pages: 339
Authors: Akansel, Ilkben
Categories: Business & Economics
Type: BOOK - Published: 2019-10-18 - Publisher: IGI Global
As today’s world develops and evolves, so does its economics. New economic approaches have begun to emerge, but traditional methods are still being implemented. As both systems provide different solutions to society’s economic issues, thoughtful research and analysis is required regarding the tactics and strategies that both theories utilize. Comparative
World Finance and Economic Stability
Language: en
Pages: 242
Authors: James Tobin
Categories: Business & Economics
Type: BOOK - Published: 2003 - Publisher: Edward Elgar Pub
Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations depends uniquely on these policies
The Order of Economic Liberalization
Language: en
Pages: 242
Authors: Ronald I. Mckinnon
Categories: Business & Economics
Type: BOOK - Published: 1993-10 - Publisher: JHU Press
Can knowledge of financial policies in developing countries over four decades help the socialist economies of Asia and Eastern Europe become open market economies in the 1990s? In all these countries the loss of fiscal and monetary control has often resulted in high inflation that undermines the liberalization process itself.