http://hdl.handle.net/2451/31341 2026-04-19T15:17:00Z 2026-04-19T15:17:00Z Arslanalp, Serkan Henry, Peter B. http://hdl.handle.net/2451/31608 2013-06-23T11:47:05Z 2006-01-01T00:00:00Z

Title: Debt Relief Authors: Arslanalp, Serkan; Henry, Peter B.

2006-01-01T00:00:00Z Henry, Peter Blair http://hdl.handle.net/2451/31606 2013-06-23T11:44:31Z 2007-12-01T00:00:00Z

Title: Capital Account Liberalization: Theory, Evidence and Speculation Authors: Henry, Peter Blair Abstract: Research on the macroeconomic impact of capital account liberalization finds few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. Most papers that find no effect of liberalization on real variables tell us nothing about the empirical validity of the theory because they do not really test it. This paper explains why it is that most studies do not really address the theory they set out to test. It also discusses what is necessary to test the theory and examines papers that have done so. Studies that actually test the theory show that liberalization has significant effects on the cost of capital, investment, and economic growth.

2007-12-01T00:00:00Z Henry, Peter Blair Miller, Conrad http://hdl.handle.net/2451/31605 2013-06-23T11:43:50Z 2009-05-01T00:00:00Z

Title: Institutions vs. Policies: A Tale of Two Islands Authors: Henry, Peter Blair; Miller, Conrad

2009-05-01T00:00:00Z Chari, Anusha Henry, Peter Blair Sasson, Diego http://hdl.handle.net/2451/31604 2013-06-23T11:39:30Z 2012-04-01T00:00:00Z

Title: Capital Market Integration and Wages Authors: Chari, Anusha; Henry, Peter Blair; Sasson, Diego Abstract: For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries that do not liberalize. The temporary increase in wage growth drives up the level of the average worker's annual compensation by US $487—an increase equal to nearly one-fifth of their annual pre-liberalization salary. Overall, the results suggest that trade in capital may have a larger impact on wages than trade in goods. (JEL E25, E44, F16, F43, G18, O16)

2012-04-01T00:00:00Z