Institutional Permeability and Cross-Border Transmission: Evidence from Uzbekistan’s 2017 Liberalization
by Aaron Williams Lam Abstract While standard diffusion frameworks predict that liberalizing reforms generate positive spillovers in geographically proximate regions, borders are not frictionless membranes. Even observable connectivity may fail to translate into cross-border economic co-movement when institutional frictions govern whether interaction activates transmission. Using Uzbekistan’s 2017 exchange-rate unification as a natural experiment, this paper […]
Illuminating the Economic Costs of Conflict: A Night Light Analysis of the Sri Lankan Civil War
by Nicholas Kiran Wijesekera Abstract This paper investigates the economic consequences of the Sri Lankan Civil War (1983-2009) by using event-based data on civilian and combatant fatalities in addition to night light imagery as a proxy for economic activity. By looking at regional economic activity across the island of Sri Lanka, this paper seeks to […]
The Impact of a Fixed Exchange Rate Regime on Growth and Volatility in an Oil-‐‑dependent Economy
By Shihab Osman Malik and Faisal Bandar Alsaadi This study examines the relationship between the fixed exchange rate regime, economic growth, and output volatility in oil-‐‑producing Saudi Arabia over the post-‐‑Bretton Woods period (1973–2016). We assess the implications of the current exchange rate regime on macroeconomic and growth performance, and evaluate its sustainability in the […]
Measuring Capital Mobility in China: 1999 – 2005
by Huanjie Wang Abstract This paper examines the level of capital mobility in China during Jan. 1999 to Apr. 2006 by estimating the covered interest rate differentials during this time period. This study was made possible by data from the fairly newly established offshore RMB Nondeliverable Forward market. It concludes that China had not been […]
