Monetary policies in East Asian countries, i.e. Indonesia, South Korea, Thailand, and Malaysia, have undergone major changes after the Asian crisis. Indonesia, South Korea, and Thailand have switched to a more flexible exchange rate system and seek price stability through an inf…
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Economies of the world are linked more today than perhaps any other time in history. Advancements in technology, increases in capital mobility and the shift of many nations to market oriented economies have been the primary causes. Recent crises in developing regions have remind…
The dissertation consists of an introduction, three essays, and conclusions. It focuses on the experiences of East Asian and Latin American economies (Thailand, Indonesia, Philippines, Malaysia, Argentina, Brazil, Mexico, Chile). The first essay addresses real exchange rate move…
This is a three-essay dissertation. Chapter One develops a theoretical model to explain intra-industry direct foreign investment and study its properties. The model yields interestingly intuitive insights despite its simplicity and static nature. It is shown that in order for in…
The Asian crisis of 1997 was preceded by a period of massive capital inflows to Asian countries. When the crisis hit, these inflows became a massive capital outflow. This reversal, in terms of domestic economic output, cost these countries tremendously. Using the financial accou…
This dissertation consists of three empirical chapters that address different aspects of private capital flows and financial crises in Asian and Latin American emerging markets. Chapter 1 studies the different channels through which economies become vulnerable to currency crises…
This dissertation includes three studies on the use of capital controls in Malaysia. The first two studies focus on empirical investigations of the effectiveness of capital controls. The last study focuses on modeling the determinants of political risk premium associated with po…
This thesis presents three essays on the role of international capital flows in growth, real exchange rate behavior and the conduct of domestic monetary policy in four Asian economies. The first chapter develops an endogenous growth model based on an infinitely-lived optimizing …
This dissertation is a political sociological analysis of the cross-border mobility of capital. It seeks to determine the political and economic conditions under which emerging economies embrace as well as curtail capital mobility, with a special emphasis on analyzing policies o…
This dissertation comprises three essays on developing countries' dealings with international capital markets. Many studies accord exports and imports a positive role in developing country growth. However, a country's ability to import is dependent on the availability of foreign…
In the modern economy, international capital flows become more crucial in driving an economy, especially in the developing countries. Mach research focuses on the effect of financial capital flows on economic growth and/or development. Several researches have studied the linkage…