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Regional Financial Integration in the GCC
Espinoza, Raphael A.; Williams, Oral; Prasad, … - International Monetary Fund (IMF) - 2010
We investigate the extent of regional financial integration in the member countries of the Gulf Cooperation Council. The limited volume data available suggests that regional integration is non-negligible. Bahrain and Kuwait investments especially are oriented towards the region. The development...
Persistent link: https://www.econbiz.de/10008470389
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The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries; The Case of Thailand
Tchakarov, Ivan; Elekdag, Selim - International Monetary Fund (IMF) - 2006
Emerging market countries have enjoyed an exceptionally favorable economic environment throughout 2004, 2005, and early 2006. In particular, accommodative U.S. monetary policy in recent years has helped create an environment of low interest rates in international capital markets. However, if...
Persistent link: https://www.econbiz.de/10005825895
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FX Swaps; Implications for Financial and Economic Stability
Ong, Li L.; Barkbu, Bergljot - International Monetary Fund (IMF) - 2010
The proliferation of foreign exchange (FX) swaps as a source of funding and as a hedging tool has focused attention on the role of the FX swap market in the recent crisis. The turbulence in international money markets spilled over into the FX swap market in the second-half of 2007 and into 2008,...
Persistent link: https://www.econbiz.de/10008519490
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Deriving Market Expectations for the Euro-Dollar Exchange Rate From Option Prices
Krichene, Noureddine - International Monetary Fund (IMF) - 2004
Option prices provide valuable information on market expectations. This paper attempts to extract market expectations, as conveyed by an implied risk-neutral probability distribution, from option prices for the dollar-euro exchange rate. Returns' volatilities are inferred from observed and...
Persistent link: https://www.econbiz.de/10005605330
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FX Funding Risks and Exchange Rate Volatility–Korea’s Case
Ree, Jack; Yoon, Kyoungsoo; Park, Hail - International Monetary Fund (IMF) - 2012
This paper examines how exchange rate volatility and Korean banks’ foreign exchange liquidity mismatches interacted with each other during the Global Financial Crisis, and whether the vulnerability stemming from this interaction has been reduced since then. Structural and cyclical changes...
Persistent link: https://www.econbiz.de/10011142019
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How Does Financial Globalization Affect Risk Sharing? Patterns and Channels
Terrones, Marco; Kose, M. Ayhan; Prasad, Eswar - International Monetary Fund (IMF) - 2007
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...
Persistent link: https://www.econbiz.de/10005263747
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Financial Globalization; A Reappraisal
Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently conflicting results. For instance, there is still little robust evidence of the growth benefits of broad...
Persistent link: https://www.econbiz.de/10005263828
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Does G-4 Liquidity Spill Over?
Psalida, L. Effie; Sun, Tao - International Monetary Fund (IMF) - 2011
The resumption of strong capital flows into emerging markets in mid-2009 brought back the debate over whether pull or push factors are the main determinants. This paper, using panel specifications with alternative measures of global liquidity, asks the question whether G-4 liquidity expansion...
Persistent link: https://www.econbiz.de/10009369433
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Financial Integration in Asia; Recent Developments and Next Steps
Teo, Leslie; Cowen, David; Shah, Hemant; Salgado, Ranil; … - International Monetary Fund (IMF) - 2006
This Working Paper brings together three papers prepared as background for discussions at the Second High-Level Conference on Asian Integration cohosted by the Monetary Authority of Singapore and the IMF on May 25, 2006. The first documents recent trends in the intraregional flow of goods and...
Persistent link: https://www.econbiz.de/10005826187
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Challenges to Monetary Policy From Financial Globalization; The Case of India
Prasad, A.; Kramer, Charles Frederick; Poirson, Hélène - International Monetary Fund (IMF) - 2008
The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with … the recent surge in capital inflows. This paper documents the degree to which India has become financially globalized … openness, India's domestic monetary conditions are highly influenced by global factors. We then review the experiences of …
Persistent link: https://www.econbiz.de/10005826246