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By Simplice Asongu. Posted July 21, 2016
Twenty-first century competition is centered on the knowledge economy, with Europe and North America inexorably charting the course of development in the international arena. In calculated steps, Latin America and Asia have been asserting the need for enhanced knowledge economy strategies in their own pursuits of national and regional development. Read more.
Uncertainty about Federal Reserve policy and its transmission to emerging economies: Evidence from Twitter
By Peter Tillmann. Posted July 13, 2016
If the United States Federal Reserve tightens or eases monetary conditions, this impacts emerging economies. Over the years since the global financial crisis, a second type of spillover has emerged: spillovers stemming from the uncertainty about future monetary policy. Uncertainty spillovers exist above and beyond those stemming from specific policy steps. It is the uncertainty about the likely course of monetary policy that led investors to adjust their portfolios, thus leading to side effects on emerging markets. Read more.
Earlier literature examined determinants of international capital flows especially during the period of high and persistent capital inflows to emerging economies during 2009–2013. The literature mainly identified the push and pull factors and explained how these factors affect the capital flows into emerging Asia “on average.” In other words, the literature calculated the effects of these factors “on the mean” of the distribution of capital flows. Read more.
Looking at the varying patterns of the capital flows into Asia in the last decade, the period after the taper tantrum on 21 May 2013 until 31 October 2015 is of particular interest from both global and local perspectives. Read more.
By Ying Xu. Posted June 8, 2016
One of the most significant new developments in the global post-global financial crisis (GFC) economy is the enormous asset purchase programs implemented by central banks in the industrial world to stimulate their economies. Widely known as quantitative easing (QE) programs, their impact has been substantial. Read more.
A gloomy outlook is enveloping the world’s economies. There are concerns too that countries are failing to sufficiently focus on long term policy responses to reverse the decline in global growth. Some argue that the global growth slowdown may be permanent, highlighting the danger of a period of chronically low growth, or what economists term “secular stagnation.” Read more.
As a highly globally integrated, resource-rich, upper-middle income country, Kazakhstan has been facing significant challenges in the current global environment. Kazakhstan’s major challenges include managing its public finances to preserve fiscal stability and generating broad-based economic growth. Read more.
Economic growth in both developing and advanced economies has slowed since the global financial crisis. Developing Asia’s growth also moderated after the crisis, to a large extent driven by the slowdown in the People’s Republic of China (PRC). The region’s economy expanded on average 7.6% annually during 2001–2010, but growth slowed to an annual average of 6.5% during 2011–2015. ADB is projecting further deceleration to 5.7% in each 2016 and 2017. Read more.
Impact of a possible growth slowdown of the People’s Republic of China on emerging Asia: A general equilibrium analysis
With its rapid economic growth and integration into the global economy over the last 3 decades, the People’s Republic of China (PRC) has emerged as a major economic power and an important source of growth for the world economy. Now it is the second-largest economy at market exchange rates and the largest exporter in the world. In Asia, the PRC’s role as a growth pole is even more prominent. Over the last 10 years, spurred by strong processing exports and domestic demand, the PRC’s imports from Asia in US dollar terms have increased at an average annual rate of 9%. Strong demand from the PRC also supported prices of commodities exported by Asian and other emerging economies. Read more.
By Matthias Helble. Posted March 14, 2016
The Bank of Japan had a difficult start into 2016. The latest data shows that inflation in the last quarter of 2015 was lower than expected. Furthermore, doubts are increasing about the recovery of the economy. At the end of January, BOJ Gov. Haruhiko Kuroda surprised markets by announcing negative interest rates for certain commercial bank deposits at the BOJ. On March 1 Japan started to sell government bonds with a yield below zero. Market observers expect even bolder steps later this year. Read more.
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- Uncertainty about Federal Reserve policy and its transmission to emerging economies: Evidence from Twitter
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