The Impact of Foreign Interest Rates on the Economy
... with the differences seen across exchange rate regimes, suggest that the direct interest rate channel may be the primary channel through which base interest rates affect other countries, and are consistent with recent evidence that while many countries may show “fear of floating,” interest rates in ...
... with the differences seen across exchange rate regimes, suggest that the direct interest rate channel may be the primary channel through which base interest rates affect other countries, and are consistent with recent evidence that while many countries may show “fear of floating,” interest rates in ...
Standing in the way of development?
... role of deficit-financing in countries that are building their nascent social and economic infrastructure. Previously, the strategic framework of the Millennium Development Goals helped redirect the international debate on macroeconomic policies. By calling for substantial scaling-up of external and ...
... role of deficit-financing in countries that are building their nascent social and economic infrastructure. Previously, the strategic framework of the Millennium Development Goals helped redirect the international debate on macroeconomic policies. By calling for substantial scaling-up of external and ...
The relevance of Keynes
... economy, of maintaining a state of expectations consistent with full employment. This is because uncertainty dominates the investment process. It also plays a significant, but lesser, role in determining the rate of interest. Keynes's picture of the economy differs from the classical— as well as th ...
... economy, of maintaining a state of expectations consistent with full employment. This is because uncertainty dominates the investment process. It also plays a significant, but lesser, role in determining the rate of interest. Keynes's picture of the economy differs from the classical— as well as th ...
3 - NBP
... union participation (the Maastricht criteria). These criteria can be fulfilled earlier or later on. The analysis indicates that the sooner these criteria are met and the euro is introduced – with the support of an appropriate economic policy – the greater the benefits for long-term economic growth w ...
... union participation (the Maastricht criteria). These criteria can be fulfilled earlier or later on. The analysis indicates that the sooner these criteria are met and the euro is introduced – with the support of an appropriate economic policy – the greater the benefits for long-term economic growth w ...
- amtek holdings berhad
... The Audit Committee is appointed by the Board of Directors from amongst their members and shall comprise of not less than three (3) members of whom a majority shall be Independent Non-Executive Directors of the Company. The members of the Audit Committee shall elect a Chairman from among their numbe ...
... The Audit Committee is appointed by the Board of Directors from amongst their members and shall comprise of not less than three (3) members of whom a majority shall be Independent Non-Executive Directors of the Company. The members of the Audit Committee shall elect a Chairman from among their numbe ...
Monetary Conditions in the Euro Area
... types of errors. First, if only the interest rate movements are taken into account and no attention is paid to the exchange rate effects induced by the policy action, the central bank could be tempted to tighten excessively since it makes no allowances for the dampening effect of the appreciation on ...
... types of errors. First, if only the interest rate movements are taken into account and no attention is paid to the exchange rate effects induced by the policy action, the central bank could be tempted to tighten excessively since it makes no allowances for the dampening effect of the appreciation on ...
NBER WORKING PAPER SERIES Aart Kraay Jaume Ventura
... In an earlier paper, we proposed a new view that countries invest the marginal unit of savings as the average one (Kraay and Ventura [2000]). This is what one should expect if, in contrast to the traditional view, investment risk is strong and diminishing returns are weak. The first assumption impl ...
... In an earlier paper, we proposed a new view that countries invest the marginal unit of savings as the average one (Kraay and Ventura [2000]). This is what one should expect if, in contrast to the traditional view, investment risk is strong and diminishing returns are weak. The first assumption impl ...
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Asia Master - charts.xls[KR]
... The currencies in Asia are all stronger against the US dollar than at their trough in 1997-98. However, only the Singapore dollar is stronger now than in 1993 (and even it has appreciated by less than 1% a year against the US dollar); the Rupiah, Rupee and Won are the weakest relative to their 1993 ...
... The currencies in Asia are all stronger against the US dollar than at their trough in 1997-98. However, only the Singapore dollar is stronger now than in 1993 (and even it has appreciated by less than 1% a year against the US dollar); the Rupiah, Rupee and Won are the weakest relative to their 1993 ...
Annual report 2015/16
... The Continence Care business launched SpeediCath® Flex, a new flexible catheter for men, which will be available in all major markets in 2016/17. The Wound Care business launched a new series of silicone dressings under the Biatain® Silicone Sizes & Shapes brand, and the business now features a comp ...
... The Continence Care business launched SpeediCath® Flex, a new flexible catheter for men, which will be available in all major markets in 2016/17. The Wound Care business launched a new series of silicone dressings under the Biatain® Silicone Sizes & Shapes brand, and the business now features a comp ...
Text - IMF
... concepts of productivity: total factor (or multifactor) productivity, typically referred to as total factor productivity (TFP), and labor productivity. ...
... concepts of productivity: total factor (or multifactor) productivity, typically referred to as total factor productivity (TFP), and labor productivity. ...
Transition Report 2010: Recovery and Reform - complete
... the recoveries in Russia and Germany are contributing to a return of remittance flows to some of the smaller countries in the region. In contrast, capital inflows are generally recovering more slowly than in other emerging market countries, with the notable exception of Turkey and Poland. Looking ah ...
... the recoveries in Russia and Germany are contributing to a return of remittance flows to some of the smaller countries in the region. In contrast, capital inflows are generally recovering more slowly than in other emerging market countries, with the notable exception of Turkey and Poland. Looking ah ...
Information Needs of Users of New Zealand Capital Markets Entity
... reports in their decisions relating to investments and/or corporate performance. Most of those who indicated that they are not using financial reports, explained that they relied on information provided by in-house analysts or research teams, who analyse annual reports in depth rather than directly ...
... reports in their decisions relating to investments and/or corporate performance. Most of those who indicated that they are not using financial reports, explained that they relied on information provided by in-house analysts or research teams, who analyse annual reports in depth rather than directly ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... a supranational bank, sometimes called a Hosomi Fund, which could intervene in the foreign-exchange markets, without national central banks surrendering their own rights to operate in the markets. In each case-INT and a Hosomi Fund-a key element of the proposal is that it could begin on a very small ...
... a supranational bank, sometimes called a Hosomi Fund, which could intervene in the foreign-exchange markets, without national central banks surrendering their own rights to operate in the markets. In each case-INT and a Hosomi Fund-a key element of the proposal is that it could begin on a very small ...
NBER WORKING PAPER SERIES IS THE U.S. CURRENT ACCOUNT DEFICIT
... as the “consensus view.” See Choi, Mark and Sul (2005). An analysis of U.S. RER volatility indicates that for the complete period (1975-2004) the U.S. real exchange rate index exhibited one of the highest volatilities in the sample. Only the British pound, the Japanese yen, and the euro have higher ...
... as the “consensus view.” See Choi, Mark and Sul (2005). An analysis of U.S. RER volatility indicates that for the complete period (1975-2004) the U.S. real exchange rate index exhibited one of the highest volatilities in the sample. Only the British pound, the Japanese yen, and the euro have higher ...
Auditing complex financial instruments
... Auditing transactions and balances relating to these instruments is likely to be challenging in the coming months. The APB would welcome comments on ways in which the draft guidance could usefully be expanded to address problem areas as well as receiving comments on any other aspects of the consulta ...
... Auditing transactions and balances relating to these instruments is likely to be challenging in the coming months. The APB would welcome comments on ways in which the draft guidance could usefully be expanded to address problem areas as well as receiving comments on any other aspects of the consulta ...
Balance of Payments Manual
... standards that have been issued by the International Monetary Fund (IMF) for providing guidance to member countries in the compilation of balance of payments and related data on the international investment position. Since the fourth edition of the Manual was published in 1977, important changes hav ...
... standards that have been issued by the International Monetary Fund (IMF) for providing guidance to member countries in the compilation of balance of payments and related data on the international investment position. Since the fourth edition of the Manual was published in 1977, important changes hav ...
Currency Transactions Costs and Competing Fiat Currencies*
... communist and former communist countries ¯t this characterization. For example, U.S. dollars have circulated in Vietnam since the late 1980s, yet citizens had e®ectively no access to international goods or money markets. In this command economy, little tax revenue was collected in domestic currency. ...
... communist and former communist countries ¯t this characterization. For example, U.S. dollars have circulated in Vietnam since the late 1980s, yet citizens had e®ectively no access to international goods or money markets. In this command economy, little tax revenue was collected in domestic currency. ...
Sudsawsd (224).pdf
... As stated, the surge in the use of anti-dumping measures is found to be associated with the success of GATT/WTO in reducing world tariff barriers. Thus, a link between trade policy and anti-dumping usage would be expected. Early attempts to empirically examine the determinants of macroeconomic facto ...
... As stated, the surge in the use of anti-dumping measures is found to be associated with the success of GATT/WTO in reducing world tariff barriers. Thus, a link between trade policy and anti-dumping usage would be expected. Early attempts to empirically examine the determinants of macroeconomic facto ...
International Trade and Capital
... experience a significant outflow of short-term capital, as it is rather sensitive to investment sentiments, still worsening worldwide. Due to the same reason, deposits of non-resident, a relatively small but the most dynamic part of the foreign debt, declined in the period. However, long-term debt w ...
... experience a significant outflow of short-term capital, as it is rather sensitive to investment sentiments, still worsening worldwide. Due to the same reason, deposits of non-resident, a relatively small but the most dynamic part of the foreign debt, declined in the period. However, long-term debt w ...
$doc.title
... Transmission mechanisms between volatilities of different markets and assets are important for a number of reasons. First, transmission mechanisms may be useful for portfolio management, where knowledge of return spillover effects may be useful for asset allocation or stock selection. Second, inform ...
... Transmission mechanisms between volatilities of different markets and assets are important for a number of reasons. First, transmission mechanisms may be useful for portfolio management, where knowledge of return spillover effects may be useful for asset allocation or stock selection. Second, inform ...
Review of the Differentiated Nature and Scope of Financial Regulation
... institutions are appropriately regulated, should also be undertaken.” In its 25 March 2009 report on Enhancing Sound Regulation and Strengthening Transparency, the G-20 stated the following: “The Joint Forum, a Working Group of the BCBS, IOSCO and the IAIS, is undertaking a project that addresses th ...
... institutions are appropriately regulated, should also be undertaken.” In its 25 March 2009 report on Enhancing Sound Regulation and Strengthening Transparency, the G-20 stated the following: “The Joint Forum, a Working Group of the BCBS, IOSCO and the IAIS, is undertaking a project that addresses th ...
Working Paper 153 - Accessing Local Markets for Infrastructure
... approximately $38 billion in the PIDA PAP (Priority Action Plan). The supply of long term finance is critical for the infrastructure sector and the absence of alternative sources of long-term local-currency financing and the continent’s lack of efficient bond markets continue to be a source of poten ...
... approximately $38 billion in the PIDA PAP (Priority Action Plan). The supply of long term finance is critical for the infrastructure sector and the absence of alternative sources of long-term local-currency financing and the continent’s lack of efficient bond markets continue to be a source of poten ...
-1- June 2004 THE MACROFOUNDATION OF MONETARY POWER
... -7And in no area of economic relations is the salience of autonomy more evident than in the realm of monetary affairs, where states are inescapably linked through the balance of payments. The risk of unsustainable payments disequilibrium represents a constant threat to policy independence. Excessiv ...
... -7And in no area of economic relations is the salience of autonomy more evident than in the realm of monetary affairs, where states are inescapably linked through the balance of payments. The risk of unsustainable payments disequilibrium represents a constant threat to policy independence. Excessiv ...
Managing Fiscal Risks
... countries dependent on natural resource revenues, but reduce the fiscal burden of price subsidies Both advanced and emerging market countries have already announced a panoply of measures to support financial institutions, the cost of which is likely to increase in the short term, as bank losses mo ...
... countries dependent on natural resource revenues, but reduce the fiscal burden of price subsidies Both advanced and emerging market countries have already announced a panoply of measures to support financial institutions, the cost of which is likely to increase in the short term, as bank losses mo ...
Global financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.A series of currency devaluations and oil crises in the 1970s led most countries to float their currencies. The world economy became increasingly financially integrated in the 1980s and 1990s due to capital account liberalization and financial deregulation. A series of financial crises in Europe, Asia, and Latin America followed with contagious effects due to greater exposure to volatile capital flows. The global financial crisis, which originated in the United States in 2007, quickly propagated among other nations and is recognized as the catalyst for the worldwide Great Recession. A market adjustment to Greece's noncompliance with its monetary union in 2009 ignited a sovereign debt crisis among European nations known as the Eurozone crisis.A country's decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. Both individuals and groups may participate in the global financial system. Consumers and international businesses undertake consumption, production, and investment. Governments and intergovernmental bodies act as purveyors of international trade, economic development, and crisis management. Regulatory bodies establish financial regulations and legal procedures, while independent bodies facilitate industry supervision. Research institutes and other associations analyze data, publish reports and policy briefs, and host public discourse on global financial affairs.While the global financial system is edging toward greater stability, governments must deal with differing regional or national needs. Some nations are trying to orderly discontinue unconventional monetary policies installed to cultivate recovery, while others are expanding their scope and scale. Emerging market policymakers face a challenge of precision as they must carefully institute sustainable macroeconomic policies during extraordinary market sensitivity without provoking investors to retreat their capital to stronger markets. Nations' inability to align interests and achieve international consensus on matters such as banking regulation has perpetuated the risk of future global financial catastrophes.