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International Economics

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PROGRAM DESCRIPTION

The Baker Institute International Economics Program studies many key issues in global economic policy, as well as domestic macroeconomic and developmental policy in foreign countries. Between debt concerns in Europe threatening another global financial crisis and the ascendancy of emerging economies, best typified by China becoming the world’s second-largest economy, the shape and dynamics of the global economy and its governance are undergoing significant shifts. Baker Institute researchers study the role of financial imbalances in recent and potential crises, with the intent of proposing alternative mechanisms for correcting these imbalances and reducing the tight financial coupling of global markets that leads to contagion and systemic risk. The program sponsors speakers and events that examine how global economic trends are developing, and what policies can optimally address the challenges that arise.

Baker Institute researchers have a particular expertise in emerging markets. Among other areas of study, they explore how emerging economies maintain macroeconomic stability while integrating their capital markets with the outside world. The issue is crucial because global investors are increasingly putting money into emerging economies, especially debt instruments. Consequently, recipient economies have adopted a variety of approaches to debt flows. This diversity highlights the uncertainty among policymakers and economists about the benefits and risks of foreign capital. Managing exchange-rate regimes — a complicated balance of domestic and external conditions — add another dimension to the equation. The International Economics Program focuses on capital account management — the degree of a country’s openness to foreign flows, the types of flows, and appropriate exchange rate and macroprudential policies.

With expertise on mobile banking in India and microfinance in the Arab world, the International Economics Program also seeks to examine innovative financial tools that promote inclusive growth. Baker Institute researchers are developing microfinance models that borrow lower appetites for risk from the mutualization movement and that support the growth of a stable middle class in developing countries. The institute’s long-term goal is to educate developing nations about financial structures and management, as well as to encourage the development of civil societies and foster international cooperation.

PUBLICATIONS
2013
Building a Corporate Bond Market
May 12 2013
Russell A. Green
Basel and the relationship with development banks
Mar 27 2013
Russell A. Green
U.S. Economic Diplomacy: Adapting to Shift in Global Economic Powers
Mar 08 2013
Russell A. Green
2012
The big problem of agricultural loans
Aug 12 2012
Russell A. Green
India outage illustrates infrastructure woes
Aug 02 2012
Russell A. Green
The paradox of forex reserves
May 23 2012
Russell A. Green
Baker Institute Policy Report 52 -- Limits of the Jugaad Growth Model: No Workaround to Good Governance for India
Mar 14 2012
Russell A. Green
2011
Bank-Insured RoSCA for Microfinance: Experimental Evidence in Poor Egyptian Villages
Jul 01 2011
Mahmoud A. El-Gamal
2010
How Well has Latin America Fared During the Global Financial Crisis?
Nov 29 2010
José Antonio Ocampo
2008
The End of the Latin American Boom
Nov 18 2008
José Antonio Ocampo
2007
Social Capital, Barriers to Production and Capital Shares; Implications for the Importance of Parameter Heterogeneity from a Nonstationary Panel Approach
May 29 2007
Peter Pedroni
Financial Integration and Cyclicality of Monetary Policy in Small Open Economies
Feb 28 2007
Yossi Yakhin
2006
Water in the Israeli-Palestinian Conflict
Aug 31 2006
Yossi Yakhin
2005
Regional Income Divergence in China
May 31 2005
Peter Pedroni, James Yudong Yao
2004
A More People-Oriented Globalization for the 21st Century
Dec 08 2004
Peter Pedroni
EVENTS