Dealing with large and volatile capital flows and the role of the IMF
... system as a whole to deal with capital flows is high on the international policy agenda, and work is ongoing at the IMF, G20 and OECD in this respect. In particular, the Fund’s most recent work programme includes a review of country experiences and emerging issues as regards the handling of capital ...
... system as a whole to deal with capital flows is high on the international policy agenda, and work is ongoing at the IMF, G20 and OECD in this respect. In particular, the Fund’s most recent work programme includes a review of country experiences and emerging issues as regards the handling of capital ...
TOWARD A NEW DESIGN FOR INTERNATIONAL H.
... dealing with periodic exchange crises, thereby operating with a developing system of conditions for support, the IMF "conditionality." In the early 1990s, the IMF argued for a further amendment to 12 But see ANDREAS F. LOWENFELD, INTERNATIONAL ECONOMIC LAW 525-27 (2002) (discussing some instances in ...
... dealing with periodic exchange crises, thereby operating with a developing system of conditions for support, the IMF "conditionality." In the early 1990s, the IMF argued for a further amendment to 12 But see ANDREAS F. LOWENFELD, INTERNATIONAL ECONOMIC LAW 525-27 (2002) (discussing some instances in ...
Integrating Macroeconomic and Financial Sector Analyses
... vis-à-vis the Board. To strengthen the effectiveness of the IMF’s governing bodies in ensuring high quality financial sector surveillance, the study recommends that the Fund: ...
... vis-à-vis the Board. To strengthen the effectiveness of the IMF’s governing bodies in ensuring high quality financial sector surveillance, the study recommends that the Fund: ...
Ten Years After: Revisiting the Asian Financial Crisis
... market liberalization.”6 Furthermore, the Malaysian experience during the Asian crisis highlights that developing countries that have liberalized their financial sector can still manage their capital flows through certain policy tools, such as selective capital controls or regulations to discourage ...
... market liberalization.”6 Furthermore, the Malaysian experience during the Asian crisis highlights that developing countries that have liberalized their financial sector can still manage their capital flows through certain policy tools, such as selective capital controls or regulations to discourage ...
Containing the Crisis, 1983-85
... viewed as leaving little margin for further increases; and about contingency funds in the budget, which, if mobilized, could destabilize fiscal policy. It also noted that Mexico should introduce additional measures to reduce trade and payments restrictions, and that the authorities would need the “c ...
... viewed as leaving little margin for further increases; and about contingency funds in the budget, which, if mobilized, could destabilize fiscal policy. It also noted that Mexico should introduce additional measures to reduce trade and payments restrictions, and that the authorities would need the “c ...
Macroeconomic Issues in Small States and
... Small states experience similar burdens linked to a combination of indivisible fixed costs and diseconomies of scale. In the public sector, this results in higher costs and reduced volumes of services provided; in the private sector, in concentrated market structure and a lack of diversification; an ...
... Small states experience similar burdens linked to a combination of indivisible fixed costs and diseconomies of scale. In the public sector, this results in higher costs and reduced volumes of services provided; in the private sector, in concentrated market structure and a lack of diversification; an ...
Free Full text
... significant (or even a negative) impact on the subscribing country’s access to international financial markets.7 De Resende and Loyola (2015) point out that earlier studies of Cady (2005) and Cady and Pellechio (2006) assumed that reforms—such as a country’s subscription decision to the SDDS or GDDS ...
... significant (or even a negative) impact on the subscribing country’s access to international financial markets.7 De Resende and Loyola (2015) point out that earlier studies of Cady (2005) and Cady and Pellechio (2006) assumed that reforms—such as a country’s subscription decision to the SDDS or GDDS ...
View/Open
... devaluation required, the IMF/World Bank relied on a number of studies deriving and comparing indices of the relative competitiveness of Sudan’s main crops. Most notable in this regard was the work of Nashashibi (1980), who set out to determine the appropriate real exchange rate adjustment to promot ...
... devaluation required, the IMF/World Bank relied on a number of studies deriving and comparing indices of the relative competitiveness of Sudan’s main crops. Most notable in this regard was the work of Nashashibi (1980), who set out to determine the appropriate real exchange rate adjustment to promot ...
Some lessons from Argentina`s default and
... External strangulation is a characteristic of both types of stop-and-go cycles. However, in the first case strangulation resulted in a shortage of foreign exchange to finance intermediate inputs and capital goods, while in the financial stop-and-go cycles, strangulation usually results in an inabili ...
... External strangulation is a characteristic of both types of stop-and-go cycles. However, in the first case strangulation resulted in a shortage of foreign exchange to finance intermediate inputs and capital goods, while in the financial stop-and-go cycles, strangulation usually results in an inabili ...
The Bretton Woods Institutions: Governance without Legitimacy
... countries holds the majority of the voting rights, limits the growth of the Fund and access to its resources and excludes the majority of Fund members from appropriate representation, contributions and participation in decision making commensurate with their economic size. The quota formula proposed ...
... countries holds the majority of the voting rights, limits the growth of the Fund and access to its resources and excludes the majority of Fund members from appropriate representation, contributions and participation in decision making commensurate with their economic size. The quota formula proposed ...
Pages: 64
... some late analysis of transition economies, institutions are paid cetrtain attention while the monetary theory of transition remains neo-classical and equiaxical within the cost-benefit analysis. The fact that in the few empirical studies of the role of institutions in transition economies (Havrylys ...
... some late analysis of transition economies, institutions are paid cetrtain attention while the monetary theory of transition remains neo-classical and equiaxical within the cost-benefit analysis. The fact that in the few empirical studies of the role of institutions in transition economies (Havrylys ...
Regional Economic Issues
... term. There is potential for some upside from stronger external demand, notably higher growth in the euro area and the United States, and a firmer recovery in commodity prices, which would help the CIS, and lower political uncertainty following key elections in Western Europe. Key downside risks inc ...
... term. There is potential for some upside from stronger external demand, notably higher growth in the euro area and the United States, and a firmer recovery in commodity prices, which would help the CIS, and lower political uncertainty following key elections in Western Europe. Key downside risks inc ...
The International Financial System: Crises and Reforms
... end of 2000, although they remained above their levels during the Asian crisis.7 The emerging market crisis took its toll on world growth, which in 1998 at 2.8 percent8 was lower than in any year between 1994 and 2000. But growth increased in 1999 and 2000, with the year 2000 seeing the highest glob ...
... end of 2000, although they remained above their levels during the Asian crisis.7 The emerging market crisis took its toll on world growth, which in 1998 at 2.8 percent8 was lower than in any year between 1994 and 2000. But growth increased in 1999 and 2000, with the year 2000 seeing the highest glob ...
- Banque de France
... by the OECD - which have been extensively used in empirical contributions - are not available before 1960, these studies cannot identify a world cycle between 1950 and 1960. This implies that the sample used for estimation always excludes two important global cycles of the Bretton Woods era (1952-19 ...
... by the OECD - which have been extensively used in empirical contributions - are not available before 1960, these studies cannot identify a world cycle between 1950 and 1960. This implies that the sample used for estimation always excludes two important global cycles of the Bretton Woods era (1952-19 ...
PDF
... The past decade has been a time of great stress in the world economy, particularly for the low-income countries (LIC's) experiencing domestic and external financial problems. The rest of the present decade wi1llikely be critical for overcoming these difficulties, at least in the medium term. The Int ...
... The past decade has been a time of great stress in the world economy, particularly for the low-income countries (LIC's) experiencing domestic and external financial problems. The rest of the present decade wi1llikely be critical for overcoming these difficulties, at least in the medium term. The Int ...
What G20 Leaders Must Do to Stabilise Our Economy and
... likely rise in unemployment less burdensome. Normally it takes time to do welfare reforms, but now time is of the essence and these countries should proceed very fast. It may be too late but in any event this is a good policy despite its timing in relation to the current cycle. Some European countri ...
... likely rise in unemployment less burdensome. Normally it takes time to do welfare reforms, but now time is of the essence and these countries should proceed very fast. It may be too late but in any event this is a good policy despite its timing in relation to the current cycle. Some European countri ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... IMF program) generally have low explanatory power. This is partly because two-thirds of IMF programs are not associated with severe balance-ofpayments or currency crises (discussed in section 10.4). Our approach, by contrast, is to measure the output cost of participation in an IMF program and inves ...
... IMF program) generally have low explanatory power. This is partly because two-thirds of IMF programs are not associated with severe balance-ofpayments or currency crises (discussed in section 10.4). Our approach, by contrast, is to measure the output cost of participation in an IMF program and inves ...
DISCUSSION PAPERS THE MAKING OF THE TURKISH FINANCIAL CRISIS
... and the shift from central bank financing to direct security issues raised the cost of financing of public sector deficits: even before the acceleration of inflation in 1988, interest rates on government paper exceeded the rate of inflation by between 10 and 20 percentage points. As a result, public ...
... and the shift from central bank financing to direct security issues raised the cost of financing of public sector deficits: even before the acceleration of inflation in 1988, interest rates on government paper exceeded the rate of inflation by between 10 and 20 percentage points. As a result, public ...
Systemic Challenges in the International Monetary System
... This chapter examines the weaknesses of the current IMS, and proposes some elements for its reform. It focuses on three fundamental challenges commonly perceived as confronting any IMS (see, for example, United Nations, 2009; Erten and Ocampo, 2012), and examines how these challenges and the respons ...
... This chapter examines the weaknesses of the current IMS, and proposes some elements for its reform. It focuses on three fundamental challenges commonly perceived as confronting any IMS (see, for example, United Nations, 2009; Erten and Ocampo, 2012), and examines how these challenges and the respons ...
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... quota and do not involve any phasing or conditionality. Stand-by arrangements have been the main instrument through which members gain access to further credit tranches.5 Stand By Arrangements (SBA) typically last for 12-18 months (the legal maximum is 3 years) and first tranche drawings do not requ ...
... quota and do not involve any phasing or conditionality. Stand-by arrangements have been the main instrument through which members gain access to further credit tranches.5 Stand By Arrangements (SBA) typically last for 12-18 months (the legal maximum is 3 years) and first tranche drawings do not requ ...
1 What`s in it for us? Globalisation, International Institutions and the
... ever more important role for international organisations. It is about making the world a smaller place by ensuring quick and inexpensive transport of people and goods and, very importantly, of information. In a broader and more politicised context, globalisation reflects the dominance of liberal eco ...
... ever more important role for international organisations. It is about making the world a smaller place by ensuring quick and inexpensive transport of people and goods and, very importantly, of information. In a broader and more politicised context, globalisation reflects the dominance of liberal eco ...
Natural Disasters: Mitigating Impact, Managing Risks
... Extended Credit Facility Extended Fund Facility Emergency Natural Disaster Assistance Exogenous Shocks Facility Flexible Credit Line International Financial Institutions Low-Income Countries Overseas Development Assistance Post-Catastrophe Debt Relief Precautionary and Liquidity Line Poverty Reducti ...
... Extended Credit Facility Extended Fund Facility Emergency Natural Disaster Assistance Exogenous Shocks Facility Flexible Credit Line International Financial Institutions Low-Income Countries Overseas Development Assistance Post-Catastrophe Debt Relief Precautionary and Liquidity Line Poverty Reducti ...
The International Monetary Fund: 70 Years of Reinvention
... As recently as 2008, the International Monetary Fund (IMF) seemed to be winding down its business. After the Argentine and Uruguayan crises of 2001-2003, the world had been comparatively free of financial crises. IMF lending, whether expressed as a share of world GDP or imports, fell to its lowest l ...
... As recently as 2008, the International Monetary Fund (IMF) seemed to be winding down its business. After the Argentine and Uruguayan crises of 2001-2003, the world had been comparatively free of financial crises. IMF lending, whether expressed as a share of world GDP or imports, fell to its lowest l ...
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... As recently as 2008, the International Monetary Fund (IMF) seemed to be winding down its business. After the Argentine and Uruguayan crises of 2001-2003, the world had been comparatively free of financial crises. IMF lending, whether expressed as a share of world GDP or imports, fell to its lowest l ...
... As recently as 2008, the International Monetary Fund (IMF) seemed to be winding down its business. After the Argentine and Uruguayan crises of 2001-2003, the world had been comparatively free of financial crises. IMF lending, whether expressed as a share of world GDP or imports, fell to its lowest l ...
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... policy, so the information can help to reduce uncertainty and cajole domestic opponents, facilitating reform. The IMF encourages countries to pursue prudent economic policies and to avoid the emergence of major macroeconomic imbalances. IMF policy advice is thus geared toward creating an economic en ...
... policy, so the information can help to reduce uncertainty and cajole domestic opponents, facilitating reform. The IMF encourages countries to pursue prudent economic policies and to avoid the emergence of major macroeconomic imbalances. IMF policy advice is thus geared toward creating an economic en ...
International Monetary Fund
The International Monetary Fund (IMF) is an international organization headquartered in Washington, DC, of ""188 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world"". Formed in 1944 at the Bretton Woods Conference, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. Countries contribute funds to a pool through a quota system from which countries with payment imbalances can borrow. As of 2010, the fund had XDR476.8 billion, about US$755.7 billion at then-current exchange rates.Through this fund, and other activities such as statistics keeping and analysis, surveillance of its members' economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries. The organization's objectives stated in the Articles of Agreement are: to promote international economic cooperation, international trade, employment, and exchange-rate stability, including by making financial resources available to member countries to meet balance-of-payments needs.