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The paper presents a general equilibrium framework for short-run macroeconomic analysis in a developing country context where controls on interest rates and foreign exchange restrictions lead to the emergence of informal financial markets. The complexity of the model precludes an analytical treatment. A simulation approach, based on parameters derived from estimates in the existing literature, is used to assess the properties of the model, which differ in important ways from those of standard open-economy models.

Banks and Banking --- Exports and Imports --- Finance: General --- Foreign Exchange --- Money and Monetary Policy --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- International Financial Markets --- International Investment --- Long-term Capital Movements --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Currency --- Foreign exchange --- Monetary economics --- Finance --- International economics --- Banking --- Exchange rates --- Bank credit --- Currency markets --- Foreign assets --- Commercial banks --- Credit --- Foreign exchange market --- Investments, Foreign --- Banks and banking

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This paper estimates empirically the changing degree of capital mobility in several Pacific Basin countries that have pursued financial liberalization in recent years. Tracing the impact of the liberalization process on the capital account, the paper also examines the implications for monetary policy operating in this changing economic environment. Empirical estimates support an overall finding of increased capital mobility in the region over the past decade. However, country experiences, with the exception of Singapore, have been more episodic--oscillating between periods of high and low financial openness--rather than uniform in regards to changing capital mobility.

Banks and Banking --- Exports and Imports --- Finance: General --- Foreign Exchange --- Interest Rates: Determination, Term Structure, and Effects --- International Investment --- Long-term Capital Movements --- International Financial Markets --- General Financial Markets: General (includes Measurement and Data) --- Finance --- International economics --- Currency --- Foreign exchange --- Interest rate parity --- Capital controls --- Currency markets --- Financial integration --- Exchange rates --- Financial services --- Balance of payments --- Financial markets --- Interest rates --- Capital movements --- Foreign exchange market --- International finance --- Thailand

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This paper examines the demand for money under conditions of very high inflation in Argentina, Bolivia, Brazil, Chile and Peru during the 1970s and 1980s. We test whether the monetary and inflationary experiences of these countries can be adequately characterized by the Cagan (1956) model, using an econometric procedure which is not reliant on any particular assumption concerning expectations formation except that forecasting errors are stationary. We also examine the importance of foreign asset substitution in domestic portfolios.

Exports and Imports --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Public Finance --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- Demand for Money --- Price Level --- Deflation --- Debt --- Debt Management --- Sovereign Debt --- International Investment --- Long-term Capital Movements --- Public finance & taxation --- International economics --- Monetary economics --- Government debt management --- Foreign assets --- Demand for money --- Price controls --- Prices --- Public financial management (PFM) --- External position --- Money --- Debts, Public --- Investments, Foreign --- Government policy --- Argentina

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The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.

Capital movements. --- International finance. --- Balance of payments --- International monetary system --- International money --- Finance --- International economic relations --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Foreign exchange --- International finance --- Banks and Banking --- Corporate Finance --- Exports and Imports --- Finance: General --- Money and Monetary Policy --- International Investment --- Long-term Capital Movements --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Lending and Debt Problems --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- General Financial Markets: General (includes Measurement and Data) --- International economics --- Banking --- Monetary economics --- Multinationals --- Financial services law & regulation --- Foreign direct investment --- Capital outflows --- Payment systems --- Financial markets --- Credit --- Money --- Investments, Foreign --- Capital movements --- Clearinghouses --- Banks and banking --- Debts, External --- Financial risk management --- United States

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Thailand's sucess with economic development in recent decades is due mainly to is commitment to an outward-looking, market-based economy, a development strategy centered on the private sector, and cautious financial policies. This papers dicusses recent economic strains and how the authorities are coping with them to sustain the momentum of development.

Economic conditions. Economic development --- Thailand --- Finance --- Fiscal policy --- Economic policy --- Commercial policy --- -Finance --- -TH / Thailand - Thailande --- 321.2 --- 331.31 --- 336.01 --- 338.22 <593> --- 338 --- (593) --- $?$92/01 --- 330.05 --- 338.9593 --- Funding --- Funds --- Economics --- Currency question --- Tax policy --- Taxation --- Finance, Public --- Economisch beleid van de overheid. --- Economisch beleid. --- Overheidsbemoeiing op economisch gebied. --- Economische organisatieleer. Economisch beleid. Economische politiek--Thailand --- Government policy --- Commercial policy. --- Economic policy. --- Working papers --- 338.22 <593> Economische organisatieleer. Economisch beleid. Economische politiek--Thailand --- TH / Thailand - Thailande --- Economisch beleid van de overheid --- Economisch beleid --- Overheidsbemoeiing op economisch gebied --- Tʻai-kuo --- Hsien-lo --- Muang-Thai --- Thaimaa --- Prates Thai --- Prades Thai --- Thaïlande --- Kingdom of Thailand --- Prathēt Thai --- Tailand --- Thailandia --- Thajsko --- Royal Thai Government --- Ratcha Anachak Thai --- Koninkryk van Thailand --- تايلاند --- Tāylānd --- Tailandia --- Reino de Tailandia --- Tayilande --- Royômo de Tayilande --- Tayland Krallığı --- Pratet Tai --- Thài-kok --- Тайланд --- Каралеўства Тайланд --- Karaleŭstva Taĭland --- Tailandya --- Tajland --- Kraljevina Tajland --- Кралство Тайланд --- Kralstvo Taĭland --- Siam --- Finance - Thailand --- Fiscal policy - Thailand --- Thailand - Economic policy --- Thailand - Commercial policy --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Trade Policy --- International Trade Organizations --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Investment --- Long-term Capital Movements --- Trade: General --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- International economics --- Banking --- Tariffs --- Foreign direct investment --- Commercial banks --- Expenditure --- Taxes --- Financial institutions --- Balance of payments --- Environment --- Tariff --- Banks and banking --- Investments, Foreign --- Expenditures, Public --- Financial instruments