What Goes Around Comes Around: Why the US is Responsible for Capital Flight (and What it Can Do about It)

2013 ◽  
Author(s):  
Reuven S. Avi-Yonah
Keyword(s):  
Capital Flight ◽  
The Us

Sanctions of the USA and the Policy of Bank of Russia:double Blow to the National Economy

2014 ◽  
pp. 13-29 ◽  
Author(s):  
S. Glazyev
Keyword(s):  
National Security ◽  
Economic Sanctions ◽  
Capital Flight ◽  
Practical Advice ◽  
The Us ◽  
Monetary Authorities ◽  
The Usa ◽  
Simultaneous Adoption ◽  
The Eu

This article examines fundamental questions of monetary policy in the context of challenges to the national security of Russia in connection with the imposition of economic sanctions by the US and the EU. It is proved that the policy of the Russian monetary authorities, particularly the Central Bank, artificially limiting the money supply in the domestic market and pandering to the export of capital, compounds the effects of economic sanctions and plunges the economy into depression. The article presents practical advice on the transition from external to domestic sources of long-term credit with the simultaneous adoption of measures to prevent capital flight.

Thailand Capital Flight through Trade with the US During Times of Political and Economic Instability

2008 ◽  
Vol 11 (03) ◽  
pp. 363-387 ◽  
Author(s):  
Pornchai Chunhachinda ◽  
Maria E. de Boyrie ◽  
Simon J. Pak
Keyword(s):  
Economic Crisis ◽  
Significant Role ◽  
Capital Flight ◽  
Capital Movement ◽  
Deposit Rate ◽  
Economic Instability ◽  
Political Events ◽  
The Us

This paper investigates capital flight from Thailand to the US through trade misinvoicing during the period from 1990 to 2005. The evidence indicates that capital flight from Thailand to the US, valued over US$16,189 million, had been done through under-invoicing exports to the US rather than over-invoicing imports from the US. The major incentive for the movement of capital is investment, followed by political events in Thailand, and the most significant determinants of capital flight are the US T-bill rate, the deposit rate in Thailand, and the degree of overvaluation of the Thai Baht. Interestingly, the 1997 Asian economic crisis did not play a significant role in the capital movement through trade.

Inner Workings of the Chinese Economy and the US–China Trade War

2020 ◽  
Vol 23 (02) ◽  
pp. 2050016
Author(s):  
Winston W. Chang
Keyword(s):  
Equity Markets ◽  
Chinese Economy ◽  
Capital Flight ◽  
External Shocks ◽  
Success Story ◽  
China Trade ◽  
The Us ◽  
The World ◽  
The Face ◽  
Trade War

China has been touted as a unique success story in development economics. The world financial crisis of 2007–2010 impacted China severely. Its GDP growth slowed, corporate debts piled up, equity markets became volatile, the renminbi weakened, and its forex reserves shrank in the face of capital flight. This paper analyzes the policymakers’ approaches in coping with the recent external shocks to the economy noted for having rigid economic structures (such as the trilemma problem and privatization issues). It discusses the tough balancing act facing the policymakers and the various reform options, including capital flow liberalization and structural reform. Finally, the paper discusses the US–China trade war.

Die Europäische Fiskalunion Gedanken zur Entwicklung der Eurozone

2012 ◽  
Vol 13 (3) ◽  
pp. 137-178 ◽  
Author(s):  
Hans-Werner Sinn
Keyword(s):  
United States ◽  
Capital Markets ◽  
The United States ◽  
Printing Press ◽  
Capital Flight ◽  
Free Access ◽  
Budget Constraints ◽  
Fiscal Union ◽  
The Real ◽  
The Us

AbstractThis paper argues that the European fiscal union and the measures of the ECB constitute a policy of excessively loose budget constraints in the Eurozone. They will slow down or hold back the real devaluation necessary for the southern countries to regain competitiveness and continue to cause capital flight as long as the printing press underbids the capital markets. The paper shows that Europe has the choice between two models: (i) free access to Target credits and eurobonds and (ii) the US model, with annual Target debt redemption and self-liability for any funds borrowed in the market. It suggests creating the United States of Europe following the US model as closely as possible.

scholarly journals The Economic Consequences of Sanctions against Russia after the Invasion of Russia in the Crimea

2015 ◽  
Author(s):  
Kutluk Kağan Sümer
Keyword(s):  
International Business ◽  
Economic Consequences ◽  
Oil Price ◽  
Economic Conditions ◽  
Capital Flight ◽  
Russian Economy ◽  
The Us ◽  
The Crimea ◽  
Food Imports ◽  
The Eu

The US and EU have imposed economic sanctions on Russia over its annexation of Crimea from Ukraine. Russia's economy has been severely impacted not only by sanctions, which have isolated it from international business and trade, but from the falling oil price which has plummeted around 60 percent since June 2014, hurting its exports and revenues. As a consequence, Russia is expected to enter recession in 2015. The estimated impact of Russia’s ban on agro-food imports from the EU imposed in August 2014 is expected to be the highest in the Baltic's. These losses are undoubtedly painful, yet manageable (a trade decline bigger than 10% would obviously lead to greater losses). Economic conditions in Russia have deteriorated at a faster rate in recent months. Capital flight from Russia has accelerated, the ruble has depreciated by more than 50%, inflation has increased, and the Russian economy is projected to contract by 3.0% in 2015. The question is whether these losses are justifiable and will achieve the desired effects – to change Russia’s behavior in Ukraine, European Union, US, Turkey and beyond.

Steht das US-Leistungsbilanzdefizit vor einer Korrektur?

2002 ◽  
Vol 51 (3) ◽  
Author(s):  
Guido Zimmermann
Keyword(s):  
Current Account ◽  
Productivity Growth ◽  
Current Account Deficit ◽  
Capital Flight ◽  
Special Role ◽  
The Us ◽  
Us Dollar

AbstractWill the huge US current account deficit finally come down? Are lower capital imports into the US or even a capital flight out of the country threatening the US Dollar? I will argue that the US current account deficit will close gradually over the next years. Due to higher productivity growth relative to Europe and Japan and because of the special role of the US Dollar this will not entail a strong depreciation of the Dollar, however.

The Eleventh Circuit Holds that Agreements in which Pharmaceutical Companies Pay Generic Companies Not to Compete May be Valid

2004 ◽  
Vol 32 (1) ◽  
pp. 181-184
Author(s):  
Amy Garrigues
Keyword(s):  
Pharmaceutical Companies ◽  
Court Decisions ◽  
Patent Holder ◽  
Trial Court ◽  
Court Of Appeals ◽  
The Us ◽  
Antitrust Laws ◽  
Per Se ◽  
Appeals Court ◽  
Two Sides

On September 15, 2003, the US. Court of Appeals for the Eleventh Circuit held that agreements between pharmaceutical and generic companies not to compete are not per se unlawful if these agreements do not expand the existing exclusionary right of a patent. The Valley DrugCo.v.Geneva Pharmaceuticals decision emphasizes that the nature of a patent gives the patent holder exclusive rights, and if an agreement merely confirms that exclusivity, then it is not per se unlawful. With this holding, the appeals court reversed the decision of the trial court, which held that agreements under which competitors are paid to stay out of the market are per se violations of the antitrust laws. An examination of the Valley Drugtrial and appeals court decisions sheds light on the two sides of an emerging legal debate concerning the validity of pay-not-to-compete agreements, and more broadly, on the appropriate balance between the seemingly competing interests of patent and antitrust laws.

Relation of Statistically Significant, Abnormal, and Typical WAIS-R VIQ-PIQ Discrepancies to Full Scale IQs

2000 ◽  
Vol 16 (2) ◽  
pp. 107-114 ◽  
Author(s):  
Louis M. Hsu ◽  
Judy Hayman ◽  
Judith Koch ◽  
Debbie Mandell
Keyword(s):  
Graphical Method ◽  
The United States ◽  
Full Scale ◽  
True Score ◽  
Absolute Value ◽  
Normative Population ◽  
The Us ◽  
The Mean ◽  
And Performance ◽  
Quadratic Models

Summary: In the United States' normative population for the WAIS-R, differences (Ds) between persons' verbal and performance IQs (VIQs and PIQs) tend to increase with an increase in full scale IQs (FSIQs). This suggests that norm-referenced interpretations of Ds should take FSIQs into account. Two new graphs are presented to facilitate this type of interpretation. One of these graphs estimates the mean of absolute values of D (called typical D) at each FSIQ level of the US normative population. The other graph estimates the absolute value of D that is exceeded only 5% of the time (called abnormal D) at each FSIQ level of this population. A graph for the identification of conventional “statistically significant Ds” (also called “reliable Ds”) is also presented. A reliable D is defined in the context of classical true score theory as an absolute D that is unlikely (p < .05) to be exceeded by a person whose true VIQ and PIQ are equal. As conventionally defined reliable Ds do not depend on the FSIQ. The graphs of typical and abnormal Ds are based on quadratic models of the relation of sizes of Ds to FSIQs. These models are generalizations of models described in Hsu (1996) . The new graphical method of identifying Abnormal Ds is compared to the conventional Payne-Jones method of identifying these Ds. Implications of the three juxtaposed graphs for the interpretation of VIQ-PIQ differences are discussed.

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