Capital market imperfections, international credit markets, and nonconvergence

Article Abstract:

A study analyzed how the operation of international capital markets affects long-term capital accumulation as well as the short-term volatility of both real activity and international capital flows across different nations within the context of an open economy. The analysis considered a setting where the problem of costly state verification affects credit allocation. Findings suggest that states with relatively elevated capital stocks will be attractive investment areas whereas poor nations will remain permanently poor because of the operation of international financial markets.

Economic aspects, Capital market, Capital markets, Financial markets, International finance, Capital movements

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Money, banking and capital formation

Article Abstract:

A study on monetary growth and financial markets revealed that in an economy where the government issues interest-bearing bonds, significant increases in the rate of money growth can actually result in the formation of two significant steady states of equilibria. One of them induces a high nominal interest rate with a low capital stock and the other shows low nominal interest with a high capital stock. In a steady state equilibria with high nominal interest rates and low capital stock, capital in private portfolios competes with government bonds.

Capital assets, Money market, Money markets

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Introduction to monetary and financial arrangements

Article Abstract:

Frameworks for advancing research on monetary and financial arrangements are introduced.

Monetary policy

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