Browsing by Subject "Brasilia"

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  • Noth, Felix; Busch, Matias Ossandon (2017)
    BOFIT Discussion Papers 11/2017
    This paper estimates the effect of a foreign funding shock to banks in Brazil after the collapse of Lehman Brothers in September 2008. Our robust results show that bank-specic shocks to Brazilian parent banks negatively affected lending by their individual branches and trigger real economic consequences in Brazilian municipalities: More affected regions face restrictions in aggregated credit and show weaker labor market performance in the aftermath which documents the transmission mechanism of the global financial crisis to local labor markets in emerging countries. The results represent relevant information for regulators concerned with the real effects of cross-border liquidity shocks.
  • Parviainen, Seija (2016)
    Euro & talous. Blogi
    Brasilia nousi kehittyvien talouksien kärkijoukkoon 2000-luvun ensimmäisellä vuosikymmenellä. Nousun vuosina miljoonat brasilialaiset pääsivät pois köyhyydestä. Onni kääntyi vuoden 2014 aikana ja Brasilian talous koki vakavan romahduksen.
  • Cheung, Yin-Wong; Fujii, Eiji (2011)
    BOFIT Discussion Papers 25/2011
    Published in International Journal of Finance and Economics, Volume 19, Issue 2, March 2014, Pages 91-121.
    We study the differences in currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision. Further, we find that differences in misalignment estimates are systematically affected by a country s participation status in the ICP survey and its data quality a finding that casts doubt on the economic and policy relevance of these misalignment estimates. The patterns of changes in estimated degrees of misalignment across individual countries, as exemplified by the BRIC economies, are highly variable.
  • Karhapää, Henna (2020)
    Euro & talous. Blogi
    Latinalaisen Amerikan talous ei ole juurikaan kasvanut moneen vuoteen. Vuosi 2019 ei tuonut tähän muutosta, sillä kasvuvauhdin odotetaan jääneen nollan tuntumaan. IMF:n maailmantalouden arviossa alueen kasvuluvut jäävät selvästi hännille muihin nousevien talouksien alueisiin verrattuna. Latinalaisen Amerikan ulkoinen ympäristö on ollut monin tavoin haastava, kun maanosan tärkeimpien vientituotteiden eli raaka-aineiden hinnat ovat pysytelleet matalalla, keskeisten kauppakumppanien kysyntä on ollut vaimeaa ja lisäksi kaupan ja teollisuuden kehitystä ovat häirinneet globaalit jännitteet ja lisääntyneet kaupanesteet. Tukea on sentään tullut suotuisista globaaleista rahoitusolosuhteista.
  • Benkovskis, Konstantins; Wörz, Julia (2012)
    BOFIT Discussion Papers 19/2012
    Published in Empirical Economics, Volume 51, Issue 2, Sept. 2016, pp 707–735
    This analysis of global competitiveness of emerging market economies accounts for non-price aspects of competitiveness. Building on the methodology pioneered by Feenstra (1994) and Broda and Weinstein (2006), we construct an export price index that adjusts for changes in the set of competitors (variety) and changes in non-price factors (quality in a broad sense) for nine emerging economies (Argentina, Brazil, Chile, China, India, Indonesia, Mexico, Russia and Turkey). The highly disaggregated dataset covers the period 1999?2010 and is based on the standardized 6-digit Harmonized System (HS). Unlike studies that use a CPI-based real effective exchange rate, our method highlights notable differences in non-price competitiveness across markets. China shows a huge gain in international competitiveness due to non-price factors, suggesting that China critics may be overstressing the role of renminbi undervaluation in explaining China's competitive position. Oil exports account for strong improvement in Russia's non-price competitiveness, as well as the modest losses of competitiveness for Argentina and Indonesia. Brazil, Chile, India and Turkey show discernible improvements in their competitive position when accounting for non-price factors. Mexico's competitiveness deteriorates regardless of the index chosen. JEL Classification: C43, F12, F14, L15 Keywords: non-price competitiveness, quality, relative export price, emerging countries