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Author:Gruben, William C. 

Journal Article
Yuan diplomacy: China, Taiwan vie in Latin American trade

Southwest Economy , Issue Nov , Pages 18

Working Paper
When does financial liberalization make banks risky? an empirical examination of Argentina, Canada and Mexico

In the literature on systemic banking crises, two common themes are: (1) lack of market discipline encourages risky lending and (2) financial liberalization or privatization lead to risky lending. However, there is evidence to suggest that neither financial liberalization nor weak market discipline always precedes risky lending. We test for depositor discipline and, separately for post-liberalization or post-privatization risky lending in Argentina, Canada, and Mexico. In the countries without market discipline, lending risk increases significantly in the wake of liberalization. Where ...
Working Papers , Paper 9905

Journal Article
Understanding Latin American currency pegs to the dollar

Southwest Economy , Issue Jul , Pages 1-4

Working Paper
Did NAFTA really cause Mexico's high maquiladora growth?

Although Mexico's maquiladora or in-bond plant system is an important and well-recognized component of Mexico-U.S. trade, the connection between the acceleration in maquiladora growth and NAFTA is less clearly understood. A broad cross-section of maquiladora observers - including journalists, political activists, industry analysts, and professors -- argue that Mexico's maquiladoras have been strongly influenced by NAFTA and have grown rapidly as a result. There are reasons to wonder if these conjectures are correct. I test for the contribution of NAFTA to fluctuations in maquiladora ...
Center for Latin America Working Papers , Paper 0301

Working Paper
Dolarizacion y uniones monetarias: pautas de implementacion

Center for Latin America Working Papers , Paper 0201

Working Paper
Capital account liberalization and disinflation in the 1990s

As a way of addressing arguments in the literature (Rodrik, 1998) that the act of capital account liberalization leads to inflation, we present a simple theoretical model in which capital account liberalization raises the absolute value of the elasticity of money demand because agents have broader money holding options than under a closed capital account. The central bank maximizes seigniorage, balancing the benefits of higher inflation against potential losses of foreign currency reserves. The optimum seigniorage-maximizing rate of inflation falls when capital controls are loosened, as a ...
Center for Latin America Working Papers , Paper 0101

Journal Article
Forecasting the Texas economy: applications and evaluation of a systematic multivariate time series model

Economic and Financial Policy Review , Issue Jan , Pages 11-28

Working Paper
Privatization, competition, and supercompetition in the Mexican commercial banking system

Working Papers , Paper 9904

Journal Article
The New Mexico economy: outlook for 1989

Economic and Financial Policy Review , Issue Nov , Pages 21-36

Working Paper
Is tighter fiscal policy expansionary under fiscal dominance? Hypercrowding out in Latin America

We test for hypercrowding out as a signal of market concerns over fiscal dominance in five Latin American countries. Hypercrowding out occurs when fiscally dominated governments domestic credit demands are perceived as so intrusive to a nations financial system that a move towards fiscal surplus lowers interest rates and increases growth. We sample five Latin American countries to test for these relationships. Judged by the results of vector error correction models, three nations test clearly positive, suggesting market concern despite their recent efforts towards fiscal balance.
Center for Latin America Working Papers , Paper 0205


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