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Crisis Management in Argentina During the 1994-95 Mexican Crisis
  • Language: en
  • Pages: 39

Crisis Management in Argentina During the 1994-95 Mexican Crisis

The Mexican crisis of 1994-95 had strong spillover effects on Argentina. The Argentine government successfully announced a series of policies to mitigate the contagion effects. This paper studies how capital markets reacted to each policy announcement and news. Capital markets welcomed announcements that demonstrated a firm commitment to the currency board. The agreement with the IMF, the dollarization of reserve deposits in the central bank, and changes in reserve requirements had a strong positive impact on market returns. After a period of higher volatility, the appointment of a new finance minister significantly decreased the variance of stock and bond returns, while lower reserve requirements increased the volatility of interest rates.

Economic Review
  • Language: en
  • Pages: 288

Economic Review

  • Type: Book
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  • Published: 2005
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  • Publisher: Unknown

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Public Investment and Economic Growth in Mexico
  • Language: en
  • Pages: 28

Public Investment and Economic Growth in Mexico

  • Type: Book
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  • Published: 1998
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  • Publisher: Unknown

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Politicians and Firms in Seven Central and Eastern European Countries
  • Language: en
  • Pages: 36

Politicians and Firms in Seven Central and Eastern European Countries

  • Type: Book
  • -
  • Published: 1998
  • -
  • Publisher: Unknown

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The Political Economy of Privatization
  • Language: en
  • Pages: 31

The Political Economy of Privatization

Political incentives appear to affect the likelihood of privatization. Provinces in Argentina whose governors belonged to a fiscally conservative party were more likely to privatize, and fiscal and economic crises increased the likelihood of privatization. Clarke and Cull study the political economy of bank privatization in Argentina. The results of their study strongly support the hypothesis that political incentives affect the likelihood of privatization. They find that: * Provinces whose governors belonged to the fiscally conservative Partido Justicialista were more likely to privatize. * Fiscal and economic crises increased the likelihood of privatization. * Poorly performing banks were ...

Policy Research Working Papers
  • Language: en
  • Pages: 36

Policy Research Working Papers

  • Type: Book
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  • Published: 1991
  • -
  • Publisher: Unknown

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Calm After the Storms
  • Language: en
  • Pages: 56

Calm After the Storms

  • Type: Book
  • -
  • Published: 1998
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  • Publisher: Unknown

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Calm After the Storms
  • Language: en
  • Pages: 54

Calm After the Storms

With the profound political and economic changes of the 1970s and 1980s behind it, and regardless of its trade patterns, Chile's income distribution is, for the moment, calm. Education may be the most important variable affecting the structure of, and changes in, inequality in Chile. After rising in the 1960s, falling in the early 1970s, and rising again from the mid-1970s to the mid-1980s, income inequality seems to have stabilized in Chile since about 1987. With the stormy period of economic and political reform of the 1970s and 1980s well over, no statistically significant Lorenz dominance results could be detected after 1987. Scalar measures of inequality confirm this picture of stabilit...

Enterprise Isolation Programs in Transition Economies
  • Language: en
  • Pages: 21

Enterprise Isolation Programs in Transition Economies

I provide the first comprehensive analysis of isolation programs for financially distressed firms in transition economies. The study is based on empirical evidence from the Romanian program. The results indicate that the isolation program did not deliver any tangible improvements in operational performance, nor did it enhance the process of privatization or liquidation of large loss-making enterprises. I also show that firms included in the program faced softer budget constraints than their comparators outside the program. These findings question the feasibility of creating special programs for enterprise restructuring and privatization under government auspices.

Protecting the Environment and the Poor
  • Language: en
  • Pages: 37

Protecting the Environment and the Poor

  • Categories: Air

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