IDEAS home Printed from https://ideas.repec.org/a/wsi/serxxx/v61y2016i02ns0217590816400245.html
   My bibliography  Save this article

Ronald Mckinnon’S Contributions To Economics

Author

Listed:
  • MICHAEL CONNOLLY

    (School of Business Administration, University of Miami, USA)

Abstract

Ronald McKinnon contributed crucially to our knowledge of the key role of savings, investment and financial intermedication in economic growth. Financial repression by governemt spending on consumption and repressed interest rates leads to low savings which finances investment, thus slowing growth. This is Ron’s message even today. He has castigated the U.S. monetary authorities for falling into a “policy trap” of repressing interest rates, presumably to foster investment and growth. In fact, Ron points out that zero rates deter savings and thus punish both investment and growth.

Suggested Citation

  • Michael Connolly, 2016. "Ronald Mckinnon’S Contributions To Economics," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(02), pages 1-9, June.
    • Handle: RePEc:wsi:serxxx:v:61:y:2016:i:02:n:s0217590816400245
    DOI: 10.1142/S0217590816400245
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0217590816400245
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0217590816400245?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Anonymous, 1952. "International Monetary Fund," International Organization, Cambridge University Press, vol. 6(4), pages 644-646, November.
    2. Anonymous, 1952. "International Monetary Fund," International Organization, Cambridge University Press, vol. 6(1), pages 121-125, February.
    3. Anonymous, 1952. "International Monetary Fund," International Organization, Cambridge University Press, vol. 6(3), pages 446-447, August.
    4. Sidney S. Alexander, 1952. "Effects of a Devaluation on a Trade Balance," IMF Staff Papers, Palgrave Macmillan, vol. 2(2), pages 263-278, April.
    5. Ronald I. McKinnon, 1966. "Intermediate Products and Differential Tariffs: A Generalization of Lerner's Symmetry Theorem," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(4), pages 584-615.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Akpansung, Aniekan O., 2021. "Impact of Real Effective Exchange Rates on Balance of Payments: Empirical Evidence from Nigeria," African Journal of Economic Review, African Journal of Economic Review, vol. 9(4), September.
    2. Bernard Njindan Iyke & Sin‐Yu Ho, 2020. "Consumption and exchange rate uncertainty: Evidence from selected Asian countries," The World Economy, Wiley Blackwell, vol. 43(9), pages 2437-2462, September.
    3. Muhammad Shahbaz & Mohammad Mafizur Rahman, 2012. "Does Nominal Devaluation Improve Income Distribution? Evidence from Bangladesh," South Asian Survey, , vol. 19(1), pages 61-77, March.
    4. Mahmood, Haider & Alkhateeb, Tarek Tawfik Yousef & Ahmed, Nawaz, 2017. "Impact of devaluation on Saudi oil exports: The J-Curve analysis," MPRA Paper 109454, University Library of Munich, Germany.
    5. Muqun Li & Wei Liu & Shunfeng Song, 2010. "Export Relationships among China, Japan, and South Korea," Review of Development Economics, Wiley Blackwell, vol. 14(s1), pages 547-562, August.
    6. Hernán Rincón, 1999. "Testing the Short-Long-Run Exchange Rate Effects on Trade Balance: The Case of Colombia," Borradores de Economia 120, Banco de la Republica de Colombia.
    7. Al-Jahwari, Salim Ahmed Said, 2021. "Does the Twin-Deficits doctrine apply to the Gulf Cooperation Council? A dynamic panel VAR-X model approach," MPRA Paper 111232, University Library of Munich, Germany.
    8. Vacu, Nomfudo P. & Odhiambo, Nicholas M., 2020. "The Determinants of Import Demand in South Africa: An Empirical Investigation," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 73(1), pages 51-76.
    9. Shahbaz, Muhammad & Jalil, Abdul & Islam, Faridul, 2010. "Real Exchange Rate Changes and Trade Balance in Pakistan: A Revisit," MPRA Paper 27631, University Library of Munich, Germany.
    10. Phillip Edmund Metaxas & Ernst Juerg Weber, 2016. "An Australian Contribution to International Trade Theory: The Dependent Economy Model," The Economic Record, The Economic Society of Australia, vol. 92(298), pages 464-497, September.
    11. Maurice Obstfeld, 2001. "International Macroeconomics: Beyond the Mundell-Fleming Model," NBER Working Papers 8369, National Bureau of Economic Research, Inc.
    12. Enno Schröder, 2015. "Eurozone Imbalances: Measuring the Contribution of Expenditure Switching and Expenditure Volumes 1990-2013," Working Papers 1508, New School for Social Research, Department of Economics, revised Sep 2015.
    13. Frenkel, Jacob A. & Mussa, Michael L., 1985. "Asset markets, exchange rates and the balance of payments," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 14, pages 679-747, Elsevier.
    14. Bernard Njindan Iyke & Sin-Yu Ho, 2018. "Real exchange rate volatility and domestic consumption in Ghana," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 19(5), pages 513-523, June.
    15. Anne O. Krueger, 1998. "Whither the World Bank and the IMF?," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 1983-2020, December.
    16. Merle Holden, 1991. "Real Exchange Rates and their Measurement," South African Journal of Economics, Economic Society of South Africa, vol. 59(1), pages 1-8, March.
    17. Nabeela KOUSAR* & Muhammad Rizwan YASEEN** & Imran QAISER***, 2017. "THE S-CURVES DYNAMICS OF TRADE: The Case Study of Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 27(1), pages 121-138.
    18. Bernard Njindan Iyke & Sin-Yu Ho, 2017. "Exchange rate uncertainty and domestic investment in Ghana," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1362157-136, January.
    19. Muhammad Shahid Hassan & Ayesha Wajid & Rukhsana Kalim, 2017. "Factors affecting trade deficit in Pakistan, India and Bangladesh," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 34(2), pages 283-304, August.
    20. Hakeem Eltalla, 2013. "Devaluation and Output Growth in Palestine: Evidence from a CGE model," European Journal of Business and Economics, Central Bohemia University, vol. 8(4), pages 4221:8-4221, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:serxxx:v:61:y:2016:i:02:n:s0217590816400245. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ser/ser.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.