ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00058.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

摘要:

D. Mario Nuti illustrates the extraordinary progress made by central and eastern European economies in their trade and exchange regimes. Surprisingly, instant convertibility of exchange rates was established. In spite of diverse exchange rate regimes they have all experienced initial severe undervaluation ‐ the cost of speed and of unrestricted trade ‐ followed by rapid real revaluation and incipient protectionism. Since 1994 anembarras de richessehas appeared: high capital inflows which are either inflationary or costly to sterilise. Lower interest rates are recommen

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00059.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

摘要:

Recent difficulties in Mexico have reminded us of the dangers of financial crisis in heavily indebted countries. In this article, Richard Portes argues that we need to plan now to deal with the next sovereign debt crisis. He proposes a programme of reform to enable an orderly ‘work‐out’of debt in such situations. This, he argues, is preferable to an expensive bailout or a messy and dangerous de

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00060.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

摘要:

Chinese inflation reached a peak of almost 30% in late 1994 but has since fallen back to below 10%. Growth has eased in response to weakening demand but the slowdown has been very modest, with growth of around 10% recorded to last year. In this article, Hong Bai and Andrew Sentance critically examine this apparent “soft landing” and suggest that the reduction in inflation may be more apparent than r

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00061.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

摘要:

Our view of the world economy in the short‐term has become more downbeat. However, the slowdown which emerged last year is still expected to prove short‐lived and we expect economic prospects to improve over the course of 1996. Interest rates have fallen and the ability of the monetary authorities to relax policy against a background of low inflation provides a safeguard against a more severe slowdown. The world economy will also be supported this year by recovery in Japan and the continued buoyancy of the Asia/Pacific reg

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00062.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00063.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00064.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00065.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00066.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY

ISSN:0140-489X    

DOI:10.1111/j.1468-0319.1996.tb00067.x

出版商:Blackwell Publishing Ltd    

年代:1996

数据来源: WILEY