In recent decades, greater globalization in the world economy has increased economic and financial interconnectedness among countries, governments, firms, and households, creating important benefits and opportunities, but also generating threats and risks. I examine three questions that aim to improve our understanding of how different economic agents react to global shocks: (1) How do governments' fiscal positions in commodity-exporting countries respond to commodity price shocks? (2) Do changes in institutions trigger fiscal responsibility, or do changes in fiscal behavior fuel changes in institutions to maintain that fiscal behavior? And (3) How did the corporate sector respond to the 2007–09 crisis?
|Advisor:||Kaminsky, Graciela L.|
|Commitee:||Samaniego, Roberto, Sinclair, Tara, Vegh, Carlos, Wei, Chao|
|School:||The George Washington University|
|School Location:||United States -- District of Columbia|
|Source:||DAI-A 73/07(E), Dissertation Abstracts International|
|Subjects:||Economics, Finance, Economic theory|
|Keywords:||Commodity prices, Corporate performance, Fiscal institutions, Fiscal policy, Global shocks, International finance, Leverage|
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