Currency

About: Currency is a research topic. Over the lifetime, 26697 publications have been published within this topic receiving 485370 citations. The topic is also known as: monetary unit & unit of money.

Understanding the Impact of

Abstract: Since the late 1980s, almost all Latin American countries have adopted a series of far-reaching economic reforms, especially trade, financial, and capital account liberalization. Increased economic openness has gone hand in hand with large financial inflows?particularly in the first half of the 1990s?and has brought new sources of economic growth. As a result, economies grew, inflation declined, and there was a big surge in foreign cap ital inflows. Although overall growth slowed after 1995, the region has expe rienced strong growth in the past five years, the best sustained performance since the 1970s. With the exception of a handful of countries, this economic growth has been accompanied by relatively modest inflation. Despite these positive results, virtually all Latin American countries share similar problems: uneven economic growth, unacceptably high poverty and malnutrition rates, and lagging agricultural growth. More than 60 percent of the region's poor live in rural areas, where slow economic growth, unequal distribution of assets, inadequate public investment and public services, and vulnerability to natural and economic shocks are major policy issues. The 2007-08 food price crisis exacerbated these problems. Prior to the cri sis, the region was considered relatively stable and capable of absorbing exter nal shocks, thanks to its higher foreign exchange liquidity; decreased public sector and external borrowing needs; exchange rate flexibility; lower exposure to currency, interest rate, and rollover risks in public sector debt portfolios; and improved access to local-currency loans. Nevertheless, the food price cri sis severely affected most of the Latin American countries in terms of infla tion, especially food inflation.

Correlation networks among currencies

Abstract: By analyzing the foreign exchange market data of various currencies, we derive a hierarchical taxonomy of currencies constructing minimal-spanning trees. Clustered structure of the currencies and the key currency in each cluster are found. The clusters match nicely with the geographical regions of corresponding countries in the world such as Asia or East Europe, the key currencies are generally given by major economic countries as expected.

Federal Policy, Banking Market Structure, and Capital Mobilization in the United States, 1863–1913

Abstract: The success with which capital funds are mobilized and transferred to industrial and related activities is widely regarded as a critical determinant of both the timing and the pace of industrialization in the modern era. Gerschenkron, for example, has suggested that institutional developments which increased this type of capital mobility played an important role in the varying degrees of industrial progress of nineteenth-century European countries. A functionally similar development, resulting from government intervention at the time of the Civil War, occurred in American banking and provided a powerful capital-supply stimulus for the United States's postbellum industrialization. This study deals with the origins of this banking development, presents an analysis of its potential effects on patterns of capital movement, and tests the hypotheses arrived at in the theoretical analysis using banking data derived primarily from the Reports of the Comptroller of the Currency.