His published research has focused on exchange rate and monetary theory and policy
in open economies, the international monetary system and financial stability.
Section 2 presents a theoretical framework that describes how a
small open economy might be expected to adjust to a boom in commodity prices.
We have always been a relatively small and
open economy with close ties to other, much larger, economies.
The
more open the economy, the more important it is that a country's students are acquiring high levels of cognitive skills.
The immediate impact of stimulus spending also tends to be muted in
open economies like Canada's, where money easily flows across borders — an uptick in GDP is likely to be offset by a corresponding rise in the value of the loonie, which, in turn, weighs down exports.
Canada was once perceived the
most open economy in the world toward Chinese outward FDI as an early survey of Chinese companies» outward direct investment intentions jointly conducted by the APF Canada and the China Council for the Promotion of International Trade in 2006.
China says it is determined to
open its economy further to the outside world, and has denounced what it calls U.S. protectionism.
It is for the best that neither leader did since, in small
open economies such as Ontario's, corporate taxes are largely paid for by workers through lower wages.
Industrial Capitalism shifted capital and production overseas for a «two - fer» — to skim unprecedented profits from lowering production costs and by expanding into
newly opened economies in China, India and elsewhere.
With Trump's Nov. 8 election victory and his campaign promise to tear up international trade deals threatening to shatter a fragile global recovery, Singapore «s
open economy remains among some of the most vulnerable markets to U.S. protectionism.
Mundell's model was extremely simple and included a number of heroic assumptions, but it accurately reflected important elements of the world in
which open economies operate.
It shows an agreement between two sides committing themselves to
maintaining open economies, rules - based free trade, as well as multilateralism.
Because the US is a
large open economy, it can get away with high corporate tax rates, because it's big enough to be able to shift the global cost of capital.
The Kingdom of Swaziland (hereinafter «Swaziland») is a small,
open economy bordering Mozambique and South Africa with a population of 1.1 million people.
An independent Scotland would be a small
open economy heavily dependent on a commodity with a volatile price.
Joining the WTO meant that, after two decades of
gradually opening its economy and markets, China formally accepted both the benefits and obligations of membership in a multilaterally negotiated rules - based regime governing international trade.
Despite his concerns, however, the Conservative leader stressed that globalisation was a force for good -
open economies allowed enterprise and innovation to flourish, and these were the «source of our progress».
He said Ghana has moved up five places in the Africa competitive skill which looks among other places at
how open economies are to international trade, adding that the national single window initiative is one of the key component that has helped Ghana to achieve this improvement.
I applaud his foresight in recognizing that it takes a focused approach and a harnessing of private sector resources to
fully open our economy to future development and progress.
The spread is going up constantly, perhaps due to China being a closed market whereas Hong Kong is a
fiercly open economy; thus it reacts more sharply to international economic developments.
Central banks of small
open economies around Europe will engage with the cyclical upturn and reduce their assessment of downside risk.
A
truly open economy with buy / sell orders such as Eve Online and a lower tax rate (35 % seriously??)
In the past three decades, since
India opened its economy to the world, the Indian Courts have played a very significant and proactive role in introducing some of internationally well - established legal principles to Indian IP jurisprudence.
The country has a transparent and
wealthy open economy that majorly relies on its huge oil reserves and resources.
The RBNZ's challenges became immediately apparent after the central bank decision, with investors lifting the local dollar to a one - year peak despite the easing and threatening to depress both exports and inflation in New Zealand's small
open economy with a population of 4.7 million.
Estimates of the economic multiplier for small
open economies like Canada are lower than for larger countries like the United States.
While this was a global banking crisis without precedent, we were hit especially hard because we have one of the
most open economies in the world; with a financial services sector that had grown too big for the UK economy carrying liabilities that were around five times the size of it; UK citizens were privately indebted to the tune of 1.4 trillion pounds — among the highest in the developed world; and we had a housing market that went from spectacular boom to bust.
Signed in December 2016 and ratified in November, the EU said at the time that it hoped to position its companies for Cuba's transition to a
more open economy and allow the EU to press for political freedoms on the island.
Voicing hopes that Beijing and the United States could avoid a trade war, Premier Li Keqiang said on Tuesday that China would
open its economy further, so that foreign and Chinese firms can compete on an equal footing.
«A prospective slowing in the already torpid pace of global growth is hardly welcome news for a
small open economy like Canada,» said Warren Lovely, an economist at National Bank Financial.
We estimate that the effect of a one - standard - deviation improvement in cognitive skills on annual economic growth is 0.9 percentage points per year in closed economies, identified by heavy restrictions on international trade, but 2.5 percentage points
in open economies.
In
an open economy like ours, a good idea is quickly imitated, meaning there will be competition in the market or arriving soon.
(The link between income and output is more nuanced in
an open economy, but I'll get to that in a subsequent post.)
Canada is a relatively small,
open economy with social and economic stability.
«That would leave at risk the smaller,
open economies, like Canada.»
Chinese Premier Li Keqiang said on Tuesday that the nation will further
open its economy, including the manufacturing sector, and pledged to lower import tariffs and cut taxes.
In my view, the most important anti-stimulus argument can be summarized as «even if you accept that stimulus is appropriate for a downturn of this magnitude caused by a terms - of - trade shock,
it an open economy with flexible exchange rates like Canada, it is best left to monetary, not fiscal, policy.»
After all, he quips, we are and remain a small
open economy, hardly a harbour from an end - of - the - world type financial event.
AFAIK... the theoretical justifications that the incidence of corporate taxes is largely on labour are arguments relating to
open economies.
Relax these, as economists had in the intervening decades, and whatever stimulative effect a burst of government spending might be imagined to have is very quickly unwound, especially in
an open economy such as Canada's.
In an effort to promote a more
open economy and accelerate reforms, China established pilot Free Trade Zones (FTZs) that provide lower thresholds for setting up new companies, have fewer restrictions on capital flows, and offer more market access to foreign investors.
The pace of progress, progress in the direction of more openness to capital flows and greater exchange rate flexibility, will depend in part on the pace at which these governments are able to strengthen the resilience of the domestic financial system and set in place the broader institutional framework and supervisory regime that are vital for
an open economy.
As I discuss below, I agree with Ben that
the open economy aspects are very important and that excess saving in substantial part has emanated from abroad.
Phrases with «open economy»