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Bretton Woods II and the Emerging Economies: Lazarus, Phoenix, Or Humpty Dumpty?
DEPARTMENT OF ECONOMICS Working Paper Bretton Woods II and the Emerging Economies: Lazarus, Phoenix, or Humpty Dumpty? by Arslan Razmi Working Paper 2009-02 Revised version, April 2009 UNIVERSITY OF MASSACHUSETTS AMHERST Bretton Woods II and the Emerging Economies: Lazarus, Phoenix, or Humpty Dumpty? Arslan Razmi 824 Thompson Hall, University of Massachusetts, Amherst, MA 01003 April 8, 2009 Abstract Several studies have commented on the emergence of a new inter- national monetary system in the post-Asian crisis years. The current international …nancial crisis has, however, put Bretton Woods II under considerable strain. This paper analyzes the sustainability of the pre- crisis order from an emerging country perspective. A simple framework in which agents have a choice between …nancial and real assets is constructed in order to explore possible consequences of the shocks that emerging economies are currently experiencing. Stock and ‡ow implications are analyzed. Assuming that recent events would have reinforced monetary authorities’desire to maintain an adequate cushion of reserves while pre- venting exchange rate volatility, we …nd that the response to most shocks would involve running continuous current account surpluses, that is, a continuation of a crucial aspect of Bretton Woods II. Given political and economic constraints, is such a continuation feasible? A preliminary ex- ploration raises serious doubts and skims alternatives. JEL Codes: F02, F32, G01, F55 Keywords: Bretton Woods II, emerging economies, reserve accumulation, precautionary motives, mercantilism. 1 Bretton Woods II and the Emerging Economies: Lazarus, Phoenix, or Humpty Dumpty? 1 Introduction The ongoing …nancial - and now increasingly, real - sector crisis that originated in the United States is presently the center of much academic and policy discussion. -
Workplaces with the Rockwell Mother's May
MAY 2016 www.lopezlink.ph http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph Registration is ongoing! See details on page 10. #Halalan2016: All for the Filipino familyBy Carla Paras-Sison ABS-CBN Corporation launches its election coverage campaign about a year before election day. But it’s not protocol. Ging Reyes, head of ABS-CBN Integrated News and Current Affairs (INCA), says it actually takes the team a year to prepare for the elections. Turn to page 6 Workplaces with Mornings Mother’s the Rockwell with the May touch…page 2 ‘momshies’…page 4 …page 12 Lopezlink May 2016 Lopezlink May 2016 Biz News Biz News 2015 AUDITED FINANCIAL RESULTS Period Dispatch from Japan Total revenues Net income attributable to equity January- holders of the parent Building Mindanao’s September Workplaces with Design-driven PH products showcased in 2014 2015 % change 2014 2015 % change By John ALFS fest Porter ABS-CBN P33.544B P38.278B +14 P2.387B P2.932B +23 largest solar farm Lopez Holdings P99.191B P96.510B -3 P3.760B P6.191B +65 theBy Rachel Varilla Rockwell touch KIRAHON Solar Energy cure ERC [Energy Regulatory ing to the project’s success,” said EDC P30.867B P34.360B +11 P11.681B P7.642B -34 Corporation (KSEC) has for- Commission] approval and the KSEC CEO Mike Lichtenfeld. First Gen $1.903B $1,836B -4 $193.2M $167.3M -13 DELIVERING the same me- As the first mally inaugurated its 12.5- first to secure local nonrecourse Kirahon Solar Farm is First FPH P99.307B P96.643 -3 P5.632B P5.406B -4 ticulous standards it dedicated prime of- megawatt Kirahon Solar Farm debt financing, it was important Balfour’s second solar power ROCK P8.853B P8.922B +1 P1.563B P1.644B +5 to its residential developments, fice project of in Misamis Oriental. -
CAPÍTULO 1 MARCO REFERENCIAL 1.1 Antecedentes De La Telenovela
CAPÍTULO 1 MARCO REFERENCIAL “‘Gutierritos’ despertó el interés masivo y también la interrogante: ¿acaso las telenovelas sólo sirven para provocar el llanto del auditorio” Mauricio Peña. 1.1 Antecedentes de la Telenovela Molina y Carvajal (1999:2), en su artículo “Trayectoria de la telenovela Latinoamericana” nos señalan que el género telenovela tuvo sus antecedentes en 1790 en Francia e Inglaterra con las representaciones populares, tomadas de las formas y modos de los espectáculos de ferias, donde el tema a escenificar dependía de la literatura oral de la región, en los que destacan cuentos de miedo, misterio y relatos de terror. A mediados del siglo XIX, nació un nuevo medio de comunicación dirigido a las masas, el folletín, el cual, sirve de modelo para la realización de telenovelas. Villanueva, M., en su artículo “El melodrama, la telenovela en América y su nacimiento en México” (2000:1), apunta que: “este género literario de origen francés, se inició con la publicación en el diario Le siècle de la traducción —como pliego suelto— de El lazarillo de Tormes. Los principales exponentes de esta forma narrativa fueron, entre otros, Eugene Sue, Dumas (padre), Dickens y Balzac. Las historias rebosaban intriga, romance y suspenso, lo que atrapaba el interés de los lectores, que las seguían diariamente para conocer el final” Lataban (1995:8) en su Tesis Consumo de telenovelas por estudiantes de universidades privadas señala que dentro de sus fases, encontramos la función ideológica, la cual presentaba una novela donde “triunfaban el sentido común, los buenos pensamientos, el orden y la moral”, dejando atrás la constante vigilancia de la sociedad y convirtiéndose en una fantasía de ésta. -
Cuna De Lobos”, Una De Las Telenovelas Más
A 30 años de “Cuna de lobos”, una de las telenovelas más exitosas de México María Rubio inmortalizó a Catalina Creel, considerada por muchos como “la madre de todas las villanas”. Fotos: Internet. Colaboración Especial Por Luis Fernando Azcárraga de la Peña La Paz, Baja California Sur (BCS). Cuna de Lobos cumple este mes de octubre 30 años, gozando de ser una de las telenovelas más recordadas en México; Catalina Creel, una psicópata de la alta sociedad a la que nadie logró vencer —sólo sí misma en un insospechado suicidio—, ha sido una de las villanas más consagradas de la televisión mexicana, catapultando a la propia María Rubio, quien quedó desbancada por 8 años sin volver a protagonizar un personaje y jamás a otro con un impacto similar. Recordamos que en 1986, el desenlace de este melodrama escrito por Carlos Olmos paralizó el tráfico y algunas actividades en la Ciudad de México. Además, la intrincada historia de poder dejó un sabor agridulce con uno de los pocos, o tal vez el único,final abierto, ésto en los últimos segundos de la telenovela. Luego del digno final que tuvo la villana, el personaje del hijo por el que se echó andar toda la historia cierra el capítulo a todo cuadro con la frase “Yo no soy Braulio, soy el pequeño Edgar”, esperando la continuidad que, ¡afortunadamente nunca llegó! Y hasta la fecha, mientras la enorme cantidad de telenovelas son refritos de otras anteriores, esta historia no la han vuelto a refritear. Pareciera que nadie pudiera llenar los tacones —o el parche— de la inolvidableCatalina Creel. -
December 31, 2017 - January 6, 2018
DECEMBER 31, 2017 - JANUARY 6, 2018 staradvertiser.com WEEKEND WAGERS Humor fl ies high as the crew of Flight 1610 transports dreamers and gamblers alike on a weekly round-trip fl ight from the City of Angels to the City of Sin. Join Captain Dave (Dylan McDermott), head fl ight attendant Ronnie (Kim Matula) and fl ight attendant Bernard (Nathan Lee Graham) as they travel from L.A. to Vegas. Premiering Tuesday, Jan. 2, on Fox. Join host, Lyla Berg, as she sits down with guests Meet the NEW SHOW WEDNESDAY! who share their work on moving our community forward. people SPECIAL GUESTS INCLUDE: and places Mike Carr, President & CEO, USS Missouri Memorial Association that make Steve Levins, Executive Director, Office of Consumer Protection, DCCA 1st & 3rd Wednesday Dr. Lynn Babington, President, Chaminade University Hawai‘i olelo.org of the Month, 6:30pm Dr. Raymond Jardine, Chairman & CEO, Native Hawaiian Veterans Channel 53 special. Brandon Dela Cruz, President, Filipino Chamber of Commerce of Hawaii ON THE COVER | L.A. TO VEGAS High-flying hilarity Winners abound in confident, brash pilot with a soft spot for his (“Daddy’s Home,” 2015) and producer Adam passengers’ well-being. His co-pilot, Alan (Amir McKay (“Step Brothers,” 2008). The pair works ‘L.A. to Vegas’ Talai, “The Pursuit of Happyness,” 2006), does with the company’s head, the fictional Gary his best to appease Dave’s ego. Other no- Sanchez, a Paraguayan investor whose gifts By Kat Mulligan table crew members include flight attendant to the globe most notably include comedic TV Media Bernard (Nathan Lee Graham, “Zoolander,” video website “Funny or Die.” While this isn’t 2001) and head flight attendant Ronnie the first foray into television for the produc- hina’s Great Wall, Rome’s Coliseum, (Matula), both of whom juggle the needs and tion company, known also for “Drunk History” London’s Big Ben and India’s Taj Mahal demands of passengers all while trying to navi- and “Commander Chet,” the partnership with C— beautiful locations, but so far away, gate the destination of their own lives. -
Ten Local Civil and Human Rights Activists to Be Honored
Vol. 26 No. 10 January 5 - 11, 2018 Ten Local Civil and Human Rights Activists to be Honored The milestone 30th Annual Dr. Martin Luther King, Jr., Awards Reception and Dinner will be held Friday, January 12, 2017 at 5 p.m. The largest celebration of Dr. King’s birthday in Anne Arundel County will be held at La Fountaine Bleue in Glen Burnie. Serving as the keynote address will be a performance of a scene from the Broadway musical, I Have a Dream, written by Josh Greenfield and directed by veteran actor Herman LeVern Jones of TheatreSouth Atlanta. A full performance of the musical, performed by Broadway stars and community actors, will be held Saturday, Jan. 13, at 7 p.m. in the Francis Scott Key Auditorium at St. John’s College in Annapolis. The Naval Academy Gospel Choir will perform at the I Have a Dream musical production. (See article on page 8) Courtesy Photo Four ways parents should comfort their kids after a tragedy News & Experts— In an ever-dangerous world •Be real, be calm. Sometimes the best reassurance is reported on by round-the-clock media, the emotional two-fold: Acknowledging that there is danger in the effects of major tragic events transcend local bound- world and, also, reminding our child that their school aries. They trouble the national psyche, bringing sad- and neighborhood do everything possible to keep ness, anger, fear and anxiety throughout the country, everyone safe. “Our calm demeanor, honesty and reas- and they can make a particularly heavy impact on chil- surance demonstrate courage, put the news in perspec- dren and teens. -
Reporte Telenovelas De La Década De Los 80'S
Reporte telenovelas de la década de los 80’s El derecho de nacer Producción: Ernesto Alonso Canal: canal de las estrellas Reparto: Verónica Castro (María Elena del Junco) Sergio Jiménez (José Luis Armenteros) Ignacio López Tarso (Rafael del Junco) María Rubio (Clemencia) Humberto Zurita (Alberto Limonta) Salvador Pineda (Alfredo) Socorro Avelar (María Dolores) Erika Buenfil (Cristina) Laura Flores (Amelia) Argumento Producida en el año 1981 El derecho de nacer fue una adaptación primeramente de radioteatro de Félix B. Caignet, posteriormente adaptada en Cuba y finalmente llega a México de la mano de Ernesto Alonso. El derecho de nacer es una historia melodramática que hace referencia a las familias adineradas en la época de los 50 especialmente en Veracruz. La familia Gómez Junco, a cargo del patriarca sumamente estricto tiene un tropiezo como familia al enterarse de que su hija esta embarazada, la desgracia trata de ocultarse al mandar a asesinar al bebé. Otros Cabe mencionar que esta telenovela al igual otras transmitidas por Televisa pero producidas por Ernesto Alonso, dejaron de estar en poder de grupo Televisa, ya que un juez declaró la nulidad de un contrato firmado por Ernesto Alonso en el año 2004 donde según se cedían 172 producciones entre telenovelas y películas durante un período de 100 años. Dicho contrato se declaró ilícito por ser contrario a la ley federal del derecho de autor que no permite sesiones de este tipo por más de 15 años. Cuna de lobos Productor: Lucero Suárez Director: Carlos Téllez Reparto: Gonzalo Vega (José Carlos Larios) Diana Bracho (Leonora Navarro) María Rubio (Catalina Creel de Larios) Alejandro Camacho( Alexandre Larios) Rebeca Jones (Vilma Gaixola Larios) Carmen Montejo (Esperança Aguirre) Lilia Aragón (Rosalía) Carlos Cámara (Dr. -
Cultura Popular Y Cultura Masiva En El México Contemporáneo
CULTURA POPULAR Y CULTURA MASIVA EN EL MÉXICO CONTEMPORÁNEO. CONVERSACIONES CON CARLOS MONSIVÁIS Isaac León Ricardo Bedoya ¿Cómo plantearías tú, y creo que vale para el caso mexicano, la relación entre lo que se conoce como cultura popular y lo que más propiamente es la cultura masiva, aquélla que imponen o que van consolidando los medios de comunicación? ¿A partir de qué momento se podría plantear, si es que cabe, una separación entre una y otra? Bueno, para mí, el momento de aproximación, y propiamente el punto de partida de la creación de todo lo que es la actual cultura popular urbana en México fue la obra de José Guadalupe Posada porque ya implicaba una producción masiva para las circunstancias de la época. Es la fusión de temas, de culturas, creencias, supersticiones, costumbres; hábitos del mundo rural y del mundo de los parias urbanos y es la actualización de una visión a la vez personal y múltiple. Yo creo que Posada fue un caso realmente único. Trabajó en la gran imprenta del grabado de la hoja popular, de los corridos que comentan los sucesos de actualidad, viene a ser el permanente punto de vista popular y popularizable de lo que está sucediendo en el mundo de las llamadas clases bajas. La producción de Posada además fue infatigable. A lo largo de su vida hizo 25,000 grabados, una cantidad ciertamente excepcional. Todavía en México no sólo no hemos logrado superar el record, sino ni siquiera recopilarlos. No creo que haya más de 10,000 recopilados y continuamente se descubren más grabados de Posada. -
Charlie Puth Youtube Sensation to Pop Prince B787 HANDSET & NAVIGATION GUIDE
choose from over entertainment options* 1000 inflight entertainment guide | august 2018 ready player one spielberg takes us on a virtual reality fantasy adventure the miracle season turning tragedy into triumph voicenotes: charlie puth youtube sensation to pop prince B787 HANDSET & NAVIGATION GUIDE choose from over entertainment options* Impian - Dream Touch Navigation 1000 CONTENTS Passengers can touch/select the items on the screen to make inflight entertainment guide | AUGUST 2018 Royal Brunei Airlines are proud to a selection. Details of the touchable/selectable items on each offer our passengers a wide range of screen are available in the Screen Element Glossary section of entertainment options. Please refer to our 04 MOVIES FEATURE: LIMELIGHT new Impian magazine for details on the the GRD. films, television, music and games we have Ready Player One B ready player one available this month for your amusement. Key Definitions – Handset spielberg takes us on a virtual reality fantasy adventure the miracle season turning tragedy into triumph voicenotes: charlie puth Enjoy your flight. UP: This arrow key is used to browse through the various items/ C youtube sensation to pop prince 06 MOVIES description pages. Q The best Hollywood and foreign films DOWN: This arrow key is used to browse through the various DOA SAFAR (TRAVEL PRAYER) items/description pages in the Interactive. E In the name of Allah, Most Gracious, Most Merciful screening this month. A M F Praise be to Allah, the Cherisher and Sustainer of the Worlds, LEFT/RIGHT: These arrow keys are used to browse through the D and may peace be upon our Honourable Prophet and Messenger 25 TELEVISION FEATURE: HIGHLIGHT various items/description pages in the Interactive. -
Responses to Agrarian Transition in Central Asia Reaktionen Auf Die Agrartransformation in Zentralasien
Responses to Agrarian Transition in Central Asia Reaktionen auf die Agrartransformation in Zentralasien Dissertation zur Erlangung des Doktorgrades der Agrarwissenschaften (Dr. agr.) der Naturwissenschaftlichen Fakultät III Agrar und Ernährungswissenschaften, Geowissenschaften und Informatik der Martin Luther Universität Halle Wittenberg vorgelegt von Frau Nozilakhon Mukhamedova Geb. am 05.08.1982 in Moskau (Russland) Gutachter: Prof. Dr. Martin Petrick Prof. Dr. Kristof Van Assche Eröffnung: 25.03.2019 Verteidigung: 15.07.2019 Halle 2019 Abstract For nearly three decades, the Central Asian countries have been undergoing transition. The common goal of diversion from the Soviet political and economic system has been less prominent recently. The new challenge is how to build further a development path which depends not only on decisions of speed or content of reforms, but also on how these reforms were accepted and responded to by rural actors, what were the consequences and how they interacted with other socio- economic, historical and cultural factors. It is important to consider not only whether reforms reached their direct recipients, but also how other actors, institutions or contexts influenced, interacted and produced changes. The motivation of the dissertation is driven by various responses of rural societies to agrarian transition, which we find carry common institutional patterns. The research presented in this dissertation aims at understanding whether agrarian reforms rely on formal institutions or were adversely/positively affected by informal ones or rule of power. We address this question through describing and comparing cases of institutional changes in the agrarian sector of three economies in transition: Kazakhstan, Tajikistan and Uzbekistan. We assume that historical experiences, policy and power legacies can frame agrarian institutions and actions as well as behaviors of rural dwellers. -
Hong Kong Magazine
SPECIAL EDITION I FEBRUARY 2021 CHINA US FOCUS DIGEST THE WAY FORWARD CHINA US FOCUS CONTENTS Tung Chee Hwa Tung Chee-hwa Chairman P. 5 China-United States Exchange Foundation ACKNOWLEDGEMENT EXECUTIVE SUMMARY P. 6 Editors Zhang Ping Hong Chang International Voices Special Advisor Zhu Yinghuang AT A CRITICAL CROSSROADS P. 10 Zeng Peiyan Assistant Editor Peng Hui TALKING ALONG THE PATH P. 15 China-US Focus Digest is a bi-monthly AHEAD magazine of exclusive commentaries on Jean Chretien China-US relations. The articles express views of influential opinion leaders and scholars in China and the US on the issues faced by the two nations. HOPEFUL RETURN TO P. 17 c China-United States GLOBAL DIALOGUE Romano Prodi Exchange Foundation, 2021 For comments, please send to [email protected] CHINA HAS BEEN EFFECTIVE P. 20 AS WORLD STRUGGLES Yasuo Fukuda www.chinausfocus.com TIME TO RENEW FRIENDSHIP P. 23 Follow us on Facebook and Twitter: @ChinaUSFocus Carlos Gutierrez With special thanks to Chatham Strategies and Shanghai Institutes for International Studies GOOD NEWS IN UNITED P. 26 for their supports to www.chinausfocus.com STATES and China-US Focus Digest Carla Hills 2 A TIME TO HEAL TIME TO SAY FAREWELL P. 29 P.61 TO NEGATIVES Chen Wenling Tung Chee-hwa NOTES FROM AMERICA’S P. 63 HEARTLAND Bob Holden Trade and the Economy HOPE, BUT NOT HASTE P. 65 DON’T EXPECT HIGH-SPEED P. 32 Wang Yiming CHANGE Michael Spence SUPPORT FOR A GOOD IDEA P. 67 Zhu Guangyao LOOKING AHEAD IN 2021 P. 36 Zhang Xiaoqiang Technology and Global Challenges WHAT TO DO FIRST P. -
Playing to Win at the Lopez Achievement Awards 2019 Story on Page 6
NOVEMBER 2019 www.lopezlink.ph Kapamilya gather anew for Palaro. Story on page 10. http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph Playing to win at the Lopez Achievement Awards 2019 Story on page 6 Why ABS-CBN ‘Working Bally goes to is saving PH meaningfully’ Rockwell…page 12 films …page 3 at KCFI…page 9 Lopezlink November 2019 Biz News Lopezlink November 2019 Students get inspiration to SKY offers discount Viewers nationwide continue pursue dreams in PMC caravan to AAP members By Kane Choa By Kane Choa to tune in to ABS-CBN THE media industry is an ex- one is “too young to make an FILIPINOS across the coun- “FPJ’s Ang Probinsyano” “Starla” (28.1%). Completing morning block with 38% in citing yet challenging world. impact” in the entertainment try still tune in to ABS-CBN (35%) is still the top choice of the list are “Home Sweetie contrast to GMA’s 27%. But being part of it is worth industry. for their daily news and enter- viewers nationwide, while “The Home: Extra Sweet” (25.5%), The Kapamilya network it and meaningful, accord- ABS-CBN head of Creative tainment fare as the network General’s Daughter” (34.1%) “Maalaala Mo Kaya” (24.6%) emerged triumphant again in ing to media experts from Communications Management logged an average audience ended its run strongly. and “Rated K: Handa Na Ba Metro Manila as it registered a ABS-CBN who shared their Robert Labayen spoke about share of 44% in October versus “The Voice Kids” (30.2%) Kayo?” (23.2%).