Financial repression policy: Latin America and Spain’s lessons for Russia
Global financial crisis that in 2008 struck the economy and revealed many structural problems for the first time after the Great Recession had developed countries with high debt level at its core. The world’s richest economies such as Spain, Italy, Portugal, United States, the UK and Japan found the...
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| Format: | Article |
| Language: | Russian |
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Moscow State Institute of International Relations (MGIMO)
2018-09-01
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| Series: | Ибероамериканские тетради |
| Subjects: | |
| Online Access: | https://www.iberpapers.org/jour/article/view/305 |
| _version_ | 1797881928003616768 |
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| author | Farid Akhmed Abu Bakr |
| author_facet | Farid Akhmed Abu Bakr |
| author_sort | Farid Akhmed Abu Bakr |
| collection | DOAJ |
| description | Global financial crisis that in 2008 struck the economy and revealed many structural problems for the first time after the Great Recession had developed countries with high debt level at its core. The world’s richest economies such as Spain, Italy, Portugal, United States, the UK and Japan found themselves at the brink of default. Meanwhile emerging markets remain a volatile area with high fluctuations in portfolio investment. Lower economic growth rate in Argentina, Chile, Colombia, Brazil or México caused by a slump in commodity prices created a hole in national budgets. Therefore, within a framework of nonconventional monetary policy both developed and emerging nations resorted to measures of financial repression between 2009 and 2014 to alleviate public debt problem and generate additional revenue for the government. However, recent studies dedicated to the phenomenon ambiguously assess the role of financial repression in achieving more efficient results of internal regulation. This article contributes to further quantitative analysis of a joint effect of financial repression measures. The purpose of the study is to identify macroeconomic consequences of the policy on the growth rate of GDP and its components. |
| first_indexed | 2024-04-10T03:28:01Z |
| format | Article |
| id | doaj.art-c2ae8cf93002463d8819dcc53be53a81 |
| institution | Directory Open Access Journal |
| issn | 2409-3416 2658-5219 |
| language | Russian |
| last_indexed | 2024-04-10T03:28:01Z |
| publishDate | 2018-09-01 |
| publisher | Moscow State Institute of International Relations (MGIMO) |
| record_format | Article |
| series | Ибероамериканские тетради |
| spelling | doaj.art-c2ae8cf93002463d8819dcc53be53a812023-03-13T07:27:39ZrusMoscow State Institute of International Relations (MGIMO)Ибероамериканские тетради2409-34162658-52192018-09-0103162210.46272/2409-3416-2018-3-16-22298Financial repression policy: Latin America and Spain’s lessons for RussiaFarid Akhmed Abu Bakr0Universidad MGIMO.Global financial crisis that in 2008 struck the economy and revealed many structural problems for the first time after the Great Recession had developed countries with high debt level at its core. The world’s richest economies such as Spain, Italy, Portugal, United States, the UK and Japan found themselves at the brink of default. Meanwhile emerging markets remain a volatile area with high fluctuations in portfolio investment. Lower economic growth rate in Argentina, Chile, Colombia, Brazil or México caused by a slump in commodity prices created a hole in national budgets. Therefore, within a framework of nonconventional monetary policy both developed and emerging nations resorted to measures of financial repression between 2009 and 2014 to alleviate public debt problem and generate additional revenue for the government. However, recent studies dedicated to the phenomenon ambiguously assess the role of financial repression in achieving more efficient results of internal regulation. This article contributes to further quantitative analysis of a joint effect of financial repression measures. The purpose of the study is to identify macroeconomic consequences of the policy on the growth rate of GDP and its components.https://www.iberpapers.org/jour/article/view/305represión financieratipos de interés negativosdeuda soberanapolítica monetaria no convencionalcrecimiento económicoanálisis regresivo |
| spellingShingle | Farid Akhmed Abu Bakr Financial repression policy: Latin America and Spain’s lessons for Russia Ибероамериканские тетради represión financiera tipos de interés negativos deuda soberana política monetaria no convencional crecimiento económico análisis regresivo |
| title | Financial repression policy: Latin America and Spain’s lessons for Russia |
| title_full | Financial repression policy: Latin America and Spain’s lessons for Russia |
| title_fullStr | Financial repression policy: Latin America and Spain’s lessons for Russia |
| title_full_unstemmed | Financial repression policy: Latin America and Spain’s lessons for Russia |
| title_short | Financial repression policy: Latin America and Spain’s lessons for Russia |
| title_sort | financial repression policy latin america and spain s lessons for russia |
| topic | represión financiera tipos de interés negativos deuda soberana política monetaria no convencional crecimiento económico análisis regresivo |
| url | https://www.iberpapers.org/jour/article/view/305 |
| work_keys_str_mv | AT faridakhmedabubakr financialrepressionpolicylatinamericaandspainslessonsforrussia |