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Fernandez-Arias, Eduardo

Overview
Works: 48 works in 142 publications in 3 languages and 1,254 library holdings
Genres: Case studies 
Roles: Author, Editor
Classifications: HG3881.5.W57, 338.9
Publication Timeline
Key
Publications about Eduardo Fernandez-Arias
Publications by Eduardo Fernandez-Arias
Most widely held works by Eduardo Fernandez-Arias
Rethinking productive development : sound policies and institutions for economic transformation by Gustavo Crespi( Book )
8 editions published in 2014 in English and Undetermined and held by 96 libraries worldwide
"Rethinking Industrial Policy systematically analyzes policies in key areas such as innovation, new firms, firm networks, financing, human capital, and internationalization. The authors provide an in-depth look at specific policies and institutions that illustrate the do's and don'ts emerging from regional and international experience on the basis of the analytic tests, and they review new approaches to gauging the opportunities countries have for beneficial productive transformation into new and better products. The book discusses how these analyses are useful to inform policy to stimulate and guide productive transformation"--
Measuring aid flows : a new approach by Charles C Chang( Book )
12 editions published between 1998 and 1999 in English and held by 78 libraries worldwide
February 1999 Conventional measures of aid are not designed to estimate the overall aid content of financial flows. Furthermore, they typically overstate the grant elements of concessional loans, thus understating relative aid flows to recipients getting mostly grants and from donors giving mostly grants (and loans in high-yield currencies). A new approach to measuring aid flows-Effective Development Assistance-focuses on the overall grant equivalent of official financial flows and allows meaningful comparisons of recipients or donors. Debate about the effectiveness of foreign aid has intensified in recent years, as budgetary pressures on aid have increased in donor countries. Whatever the merits of opposing arguments, the question is: do conventional measures of aid (such as OECD's Net ODA), which lump together grants and loans, accurately reflect true aid flows? Chang, Fernández-Arias, and Servén analyze the methodological shortcomings of conventional measures of aid and propose a new approach, which measures official aid flows as the sum of grants and the grant-equivalents of official loans (in a new aggregate they call Effective Development Assistance, or EDA). They show how results using this conceptually superior measure may differ significantly from conventional aggregates, providing a quite different view on major aid trends. They implement their approach empirically using data on some 40,000 official loans from the World Bank's DRS database-virtually all of the official loans to 133 developing countries from 1975 to 1995. The numerical results underscore several points: * The conventional approach has led to systematic overestimates of the concessionality of official loans. This overestimate has increased significantly since the mid-1980s. Conventional methods show a rising trend; the new method shows the opposite. * Net ODA increasingly overstates the true aid content of official flows, although the divergence between the two approaches is somewhat muted by the rising relative importance of grants over loans in total official flows. This paper-a product of Macroeconomics and Growth, Development Research Group-is part of a larger effort in the group to understand the effectiveness of development aid. The authors may be contacted at cchang6@worldbank.org or lserven@worldbank.org
Recent private capital inflows to developing countries : is the debt crisis history? by Michael P Dooley( Book )
13 editions published in 1994 in English and held by 72 libraries worldwide
This empirical study finds that while debt reduction and policy reforms in debtor countries have been important determinants of renewed access to international capital markets, changes in international interest rates have been the dominant factor. We calculate the effects of changes in international interest rates for a 'typical' debtor country. We conclude that increases in interest rates associated with business cycle upturn in industrial countries could depress the secondary market prices of existing debt to levels inconsistent with continued capital inflows
The surge in capital inflows to developing countries prospects and policy response by Eduardo Fernandez-Arias( file )
11 editions published between 1995 and 1999 in English and Undetermined and held by 70 libraries worldwide
June 1995 After being excluded from world capital markets during the debt crisis, many developing countries have experienced large capital inflows in the past five years. The challenges these inflows pose for domestice policy have generated a substantial literature. The authors review and extend that literature. They characterize the new inflows, assess their causes and the likelihood of sustainability, analyze the policy issues they raise, and evaluate the possible policy responses. Their conclusions tie desirable policy responses to characteristics of both the flows themselves and to those of the recipient economy. Regarding the forces driving the current episode, they conclude that generally, the role of foreign interest rates as a push factor driving capital inflows and determining their magnitude has been well-established. On the other hand, country creditworthiness has helped determine both the timing and destination of the new capital flows. Even if creditworthiness is maintained, the early level of inflows is unlikely to be sustained. The pace of reduction in flows to countries that have been receiving them since the early 1990s depends on the path of foreign interest rates and the role of stock adjustment. But a loss of creditworthiness caused by a deterioration in domestic policy would stop inflows quickly and, depending on the circumstances, inflows may be replaced by substantial outflows and an outright balance of payments crisis. What are the implications for policy in recipient countries? Briefly, the receipt of capital inflows may strengthen the case for removing macroeconomic distortions, either because such inflows aggravate the cost of such distortions or because they ease the constraints that originally motivated their adoption. While direct intervention may not be feasible (because controls may be easily evaded), controls may sometimes be a second-best policy. To the extent that capital inflows are permitted to materialize, the desirability of foreign exhcange intervention depends on what is required for macroeconomic stability. Sterilized foreign exchange intervention to prevent overstimulation of demand with a fixed exchange rate may not be feasible or effective. A commensurate reduction in the money multiplier, achieved by increasing reserve requirements, may also have limited effects. The effectiveness of both measures depends on the structure of the domestic financial system. If domestic monetary expansion is not avoided, or if an expansionary financial stimulus is transmitted outside the banking system, the stabilization of total demand will require fiscal contraction
Debt reduction and North-South resource transfers to the year 2000 by Richard E Feinberg( Book )
7 editions published in 1992 in English and German and held by 69 libraries worldwide
Is the debt crisis history? : recent private capital inflows to developing countries by Michael P Dooley( Book )
7 editions published between 1994 and 1995 in English and held by 34 libraries worldwide
Sources of growth in Latin America : what is missing? ( Book )
9 editions published between 2005 and 2006 in English and held by 33 libraries worldwide
The new wave of private capital inflows : push or pull? by Eduardo Fernandez-Arias( Book )
7 editions published in 1994 in English and held by 33 libraries worldwide
Una nueva era de crecimiento económico en Uruguay by Eduardo Fernandez-Arias( Book )
3 editions published in 2006 in Spanish and held by 25 libraries worldwide
Recent experience with commercial bank debt reduction by Stijn Claessens( Book )
7 editions published in 1992 in English and held by 20 libraries worldwide
A dynamic bargaining model of sovereign debt by Eduardo Fernandez-Arias( Book )
5 editions published in 1991 in English and held by 17 libraries worldwide
On the Role of Productivity and Factor Accumulation in Economic Development in Latin America and the Caribbean by Christian Daude( Article )
1 edition published in 2010 in English and held by 16 libraries worldwide
This paper combines development and growth accounting exercises with economic theory to estimate the relative importance of total factor productivity and the accumulation of factors of production in the economic development performance of Latin America. The region's development performance is assessed in contrast with various alternative benchmarks, both advanced countries and peer countries in other regions. We find that total factor productivity is the predominant factor: low and slow productivity, as opposed to impediments to factor accumulation, is the key to understand Latin America's low income relative to developed economies and its stagnation relative to other developing countries that are catching up. While policies easing factor accumulation would help improving productivity somewhat, for the most part, closing the productivity gap requires productivity-specific policies
Financial implications of regional trade accords by Eduardo Fernandez-Arias( Book )
2 editions published in 1995 in English and held by 8 libraries worldwide
A theory of North-South customs unions by Eduardo Fernandez-Arias( Book )
2 editions published in 1995 in English and held by 8 libraries worldwide
Is FDI a safer form of financing? by Eduardo Fernandez-Arias( Book )
3 editions published in 2000 in English and held by 5 libraries worldwide
Financial dollarization and dedollarization by Eduardo Fernandez-Arias( Book )
1 edition published in 2005 in English and held by 5 libraries worldwide
Growing pains : binding constraints to productive investment in Latin America ( Book )
4 editions published in 2009 in English and held by 3 libraries worldwide
Binding constraints to growth in Latin America : an overview Manuel Agosin, Eduardo Fernández-Arias, and Fidel Jaramillo -- Identifying the most binding constraints to growth and competitiveness in Argentina -- What is impending growth in Brazil Juan Blyde ... [et al.] -- Ecuador : binding constraints to growth Simón Cueva, Vicente Albornoz, and Leopoldo Avellán -- Tearing down the walls : growth and inclusion in Guatemala Daniel Artana, Sebastián Auguste, and Mario Cuevas -- Growth diagnostic : Peru Ricardo Hausmann and Bailey Klinger -- Nicaragua : remembrance of growth past Manuel R. Agosin, Rodrigo Bolaños, and Félix Delgado -- Trinidad and Tobago : economic growth in a dual economy Daniel Artana ... [et al.]
What's wrong with international financial markets / by by Eduardo Fernandez-Arias( Book )
2 editions published in 2000 in English and held by 2 libraries worldwide
Getting it right : what to reform in international financial markets / by by Eduardo Fernandez-Arias( Book )
2 editions published in 2000 in Spanish and held by 2 libraries worldwide
Rethinking industrial policy : sound policies and institutions for productive transformation ( file )
1 edition published in 2014 in English and held by 0 libraries worldwide
<Span style=""font-style:italic;"">Rethinking Productive Development </span>systematically analyzes policies in key areas such as innovation, new firms, firm networks, financing, human capital, and internationalization
 
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Alternative Names
Arias Eduardo Fernández-
Arias-Fernández, Eduardo
Fernandes-Arias, Eduardo
Fernandez-Arias, E.
Fernandez-Arias, E. (Eduardo)
Fernández-Arias, Eduardo
Languages
English (99)
Spanish (5)
German (1)
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