In this paper we wil first the large increase of foreign exchange
... account surpluses. Some countries seem to have more reserves than needed for precautionary motives, and have transferred part of them to special investment vehicles to maximize their returns. This is the case of East Asian countries, which have combined SWFs in excess of US$740 billion, to be added ...
... account surpluses. Some countries seem to have more reserves than needed for precautionary motives, and have transferred part of them to special investment vehicles to maximize their returns. This is the case of East Asian countries, which have combined SWFs in excess of US$740 billion, to be added ...
Systemic Challenges in the International Monetary System
... 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 responses to them have changed over time. It suggests that the reforms aimed at addressing the inad ...
... 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 responses to them have changed over time. It suggests that the reforms aimed at addressing the inad ...
- World Trade Organization
... (1995) have drawn slightly more positive conclusions about the effect of commodity booms on investment, consumption and output, arguing that experiences across countries with primary product booms have been very heterogeneous and reflect large differences in economic and political institutions. The ...
... (1995) have drawn slightly more positive conclusions about the effect of commodity booms on investment, consumption and output, arguing that experiences across countries with primary product booms have been very heterogeneous and reflect large differences in economic and political institutions. The ...
The World Bank EU10 Regular Economic Report Main Report
... foreign bank ownership, than for example in Hungary, where foreign banks from different countries are active. Some EU10 countries have received, or are preparing to receive, large-scale official support from bilateral and multilateral sources to stabilize their financial markets. More support might ...
... foreign bank ownership, than for example in Hungary, where foreign banks from different countries are active. Some EU10 countries have received, or are preparing to receive, large-scale official support from bilateral and multilateral sources to stabilize their financial markets. More support might ...
Growth Impacts of the Exchange Rate and Technology
... relative prices of primary goods in comparison to manufactures (Prebisch, 1959; Singer, 1950). Such a negative trend in the terms of trade represents a growth constraint for developing countries exporting primary goods and importing intermediary and final goods, which can be explained by a low incom ...
... relative prices of primary goods in comparison to manufactures (Prebisch, 1959; Singer, 1950). Such a negative trend in the terms of trade represents a growth constraint for developing countries exporting primary goods and importing intermediary and final goods, which can be explained by a low incom ...
Remittances and Development: World Bank approach
... The case for providing financial literacy training for migrants needs to rest on other criteria than the financial savings from cheaper remittances, such as the improvements in their capabilities from being more informed customers, and the potential savings from other aspects of financial management ...
... The case for providing financial literacy training for migrants needs to rest on other criteria than the financial savings from cheaper remittances, such as the improvements in their capabilities from being more informed customers, and the potential savings from other aspects of financial management ...
sovereign wealth funds: a developing country perspective
... savings and stabilization funds. Savings funds are intended as permanent funds and are generally associated with non-renewable natural resources. They create a store of wealth for future generations so that they can benefit from the resources after their depletion. They build on economic theory whic ...
... savings and stabilization funds. Savings funds are intended as permanent funds and are generally associated with non-renewable natural resources. They create a store of wealth for future generations so that they can benefit from the resources after their depletion. They build on economic theory whic ...
agriculture and the wto
... 1991; Tyers and Anderson 1992). Those policies almost certainly add to inequality and poverty, since three-quarters of the world’s poorest people depend directly or indirectly on agriculture for their main income (World Bank 2007). Currently less than 15 million relatively wealthy farmers in develop ...
... 1991; Tyers and Anderson 1992). Those policies almost certainly add to inequality and poverty, since three-quarters of the world’s poorest people depend directly or indirectly on agriculture for their main income (World Bank 2007). Currently less than 15 million relatively wealthy farmers in develop ...
The Inflation-Openness Payoff Revisited: A Note on Romer vs
... Other explanations are being explored. Bowdler [2003] finds openness makes the short-term Phillips curve steeper in OECD countries. Temple [2002] argues it generally does not. Gruben and McLeod (2001) argue openness raises the interest rate elasticity of money demand, reducing the optimal inflation ...
... Other explanations are being explored. Bowdler [2003] finds openness makes the short-term Phillips curve steeper in OECD countries. Temple [2002] argues it generally does not. Gruben and McLeod (2001) argue openness raises the interest rate elasticity of money demand, reducing the optimal inflation ...
The Bretton Woods Institutions: Governance without Legitimacy
... accounting for half of the world’s output in real terms,1 most of the world’s population and encompassing the most dynamic economies and the largest holders of international reserves2. Over time, the effects of the unrepresentative nature of the governance of the BWI s have become aggravated by two ...
... accounting for half of the world’s output in real terms,1 most of the world’s population and encompassing the most dynamic economies and the largest holders of international reserves2. Over time, the effects of the unrepresentative nature of the governance of the BWI s have become aggravated by two ...
The European Bank for Reconstruction and Development and
... the development of the UNCITRAL Legislative Guide on Insolvency. The Bank’s assessment work has included a comprehensive study in 20036 on the compliance of insolvency laws in all 27 COO with international standards and, in 2004, will include an equally comprehensive study on the practical applicati ...
... the development of the UNCITRAL Legislative Guide on Insolvency. The Bank’s assessment work has included a comprehensive study in 20036 on the compliance of insolvency laws in all 27 COO with international standards and, in 2004, will include an equally comprehensive study on the practical applicati ...
- LSE Research Online
... trillion (of which $398 billion was to developing country entities). By the same date, international bond issues (of all maturities) reached $6.7 trillion; notional foreign exchange derivatives contracts exceeded $17 trillion.4 These measures of financial flows and stocks are sizeable compared to wo ...
... trillion (of which $398 billion was to developing country entities). By the same date, international bond issues (of all maturities) reached $6.7 trillion; notional foreign exchange derivatives contracts exceeded $17 trillion.4 These measures of financial flows and stocks are sizeable compared to wo ...
Working Paper 416 September 2015
... Price levels vary enormously between countries. The 2011 round of the International Comparison Program (ICP) finds price levels (here defined as the ratio of Purchasing Power Parity (PPP) exchange rates to nominal exchange rates with respect to the US dollar) as low as 30% of the US price level in E ...
... Price levels vary enormously between countries. The 2011 round of the International Comparison Program (ICP) finds price levels (here defined as the ratio of Purchasing Power Parity (PPP) exchange rates to nominal exchange rates with respect to the US dollar) as low as 30% of the US price level in E ...
A developing country view of the current global crisis
... to frame possible policy responses; tighter regulation of domestic financial markets being an obvious one. It would be positive for the understanding and prevention of financial crises if Minsky’s contributions have a greater influence on both economic research and policy making. Similarly, it is im ...
... to frame possible policy responses; tighter regulation of domestic financial markets being an obvious one. It would be positive for the understanding and prevention of financial crises if Minsky’s contributions have a greater influence on both economic research and policy making. Similarly, it is im ...
What are the causes of financial crisis?
... This is not an issue applying to Asian countries, but also to other emerging markets around the world. As a result of this experience, the banking systems of those countries affected were forced to re-engineer their banking system in order to accommodate more complex transactions with greater contro ...
... This is not an issue applying to Asian countries, but also to other emerging markets around the world. As a result of this experience, the banking systems of those countries affected were forced to re-engineer their banking system in order to accommodate more complex transactions with greater contro ...
Financial development and export diversification in resource
... The second strand of the literature presents financial development as a source of countries’ comparative advantage. Kletzer and Bardhan (1987) argue that countries with an identical endowment structure and no economies of scale might face different production costs because of credit imperfections. ...
... The second strand of the literature presents financial development as a source of countries’ comparative advantage. Kletzer and Bardhan (1987) argue that countries with an identical endowment structure and no economies of scale might face different production costs because of credit imperfections. ...
Eight Strategies for Development in Comparison
... and Institutional Assessment”). These indicators were often criticised (being opaque, biased, without conceptual base, one-size-fits-all approach, etc.). In particular, the dimensions of “regulatory quality” and “government effectiveness” with an emphasis on “sound policies” are critical and biased ...
... and Institutional Assessment”). These indicators were often criticised (being opaque, biased, without conceptual base, one-size-fits-all approach, etc.). In particular, the dimensions of “regulatory quality” and “government effectiveness” with an emphasis on “sound policies” are critical and biased ...
Official PDF , 37 pages
... smallness is neither a necessary nor sufficient condition for poor development performance. Various fora have raised two important issues: 1) Do small economies face special problems that call for special attention? and 2) If so, are these problems already being addressed? This paper analyzes these ...
... smallness is neither a necessary nor sufficient condition for poor development performance. Various fora have raised two important issues: 1) Do small economies face special problems that call for special attention? and 2) If so, are these problems already being addressed? This paper analyzes these ...
A/Res/60/1
... target of 0.7 per cent of gross national product for official development assistance by 2015 and to reach at least 0.5 per cent of gross national product for official development assistance by 2010 as well as, pursuant to the Brussels Programme of Action for the Least Developed Countries for the Dec ...
... target of 0.7 per cent of gross national product for official development assistance by 2015 and to reach at least 0.5 per cent of gross national product for official development assistance by 2010 as well as, pursuant to the Brussels Programme of Action for the Least Developed Countries for the Dec ...
2005 World Summit Outcome Document
... are encouraged by reductions in poverty in some countries in the recent past and are determined to reinforce and extend this trend to benefit people worldwide. We remain concerned, however, with the slow and uneven progress towards poverty eradication and the realization of other development goals i ...
... are encouraged by reductions in poverty in some countries in the recent past and are determined to reinforce and extend this trend to benefit people worldwide. We remain concerned, however, with the slow and uneven progress towards poverty eradication and the realization of other development goals i ...
Developing a global partnership for development
... The origins of the Millennium Development Goals (MDGs) lie in the United Nations Millennium Declaration which was adopted by all 189 UN Member States (147 of them represented by their head of State or Government) on 8 September 2000. The Declaration embodies many commitments for improving the lot of ...
... The origins of the Millennium Development Goals (MDGs) lie in the United Nations Millennium Declaration which was adopted by all 189 UN Member States (147 of them represented by their head of State or Government) on 8 September 2000. The Declaration embodies many commitments for improving the lot of ...
The Policy Space Debate
... tries.2 These principles are reflected in the charter adopted by the United Nations Conference on Trade and Development (UNCTAD) at its first meeting in June 1964. UNCTAD arose from the demands of poorer countries to establish a trade and development body that addressed their needs and concerns. Gen ...
... tries.2 These principles are reflected in the charter adopted by the United Nations Conference on Trade and Development (UNCTAD) at its first meeting in June 1964. UNCTAD arose from the demands of poorer countries to establish a trade and development body that addressed their needs and concerns. Gen ...
Twenty-Five Years Later: Macroeconomic Aspects of Transition
... developed, monetary policy had to evolve. An interesting and important part of this evolution is the choice of the exchange rate regime. All transition countries started with artificial exchange rates, set according to central planning pricing rules in the Soviet Union and in Comecon. It was clear ...
... developed, monetary policy had to evolve. An interesting and important part of this evolution is the choice of the exchange rate regime. All transition countries started with artificial exchange rates, set according to central planning pricing rules in the Soviet Union and in Comecon. It was clear ...
Khor - UN-NGLS
... The decline in commodity prices constitutes the most important factor that hinders many developing countries from benefiting from trade. It suppresses the incomes of millions of commodity producers, thus making it difficult for Millennium Development Goal 1 (eradicating poverty and hunger) to be rea ...
... The decline in commodity prices constitutes the most important factor that hinders many developing countries from benefiting from trade. It suppresses the incomes of millions of commodity producers, thus making it difficult for Millennium Development Goal 1 (eradicating poverty and hunger) to be rea ...