Despite the external origin of the financial crisis, the potential impact on India’s corporate sector could be large, as India has become increasingly integrated with the global economy in the past decade. The Selected Issues paper discusses India’s economic development and...

This paper presents the Republic of Armenia’s report on the Observance of Standards and Codes and detailed assessment using the data quality assessment framework. Armenia exceeds Special Data Dissemination Standard requirements for both periodicity and timeliness in releases of data on...

Albania was among the first countries to participate in the General Data Dissemination System (GDDS), posting its metadata on the Dissemination Standards Bulletin Board. Its metadata have been used as a model by other countries participating in the GDDS. Recommendations to increase further...

Unit value export and import indices compiled from returns to customs authorities are often used as surrogates for price indices in the measurement of inflation transmission, terms of trade (effects), and to deflate import and export value series to derive volume series. Their widespread use is...

This paper studies the factors that have influenced countries' participation in IMF drawing programs. IMF drawing programs are defined as the period of a Stand-By Arrangement or an Extended Fund Facilities program during which a country borrows from the Fund. Since this definition excludes...

This Report on the Observance of Standards and Codes data module provides an assessment of Finland’s macroeconomic statistics against the Special Data Dissemination Standard complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework, July...

We revisit the dramatic failure of monetary models in explaining exchange rate movements. Using the information content from 98 countries, we find strong evidence for cointegration between nominal exchange rates and monetary fundamentals. We also find fundamentalsbased models very successful in...

Using panel data from 120 developing countries from 1975 to 2000, this paper explores the direct and indirect channels linking social spending, human capital, and growth in a system of equations. The paper finds that both education and health spending have a positive and significant direct...