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Pakistan’s economy continued to perform strongly owing to sound macroeconomic management and structural reform. Executive Directors advised that tight fiscal and monetary policies are required to reduce inflation and the external current account deficit while lessening pressures on real...
Persistent link: https://www.econbiz.de/10011244011
We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political...
Persistent link: https://www.econbiz.de/10005263746
The Asian financial crisis of 1997-98 was one of the most dramatic economic events of recent times, which raised many questions regarding the appropriate policy response to financial crises. This paper reviews the experience of this crisis, focusing on the overall strategy of crisis management...
Persistent link: https://www.econbiz.de/10005263845
Persistent link: https://www.econbiz.de/10005824821
This paper studies the implications of foreign currency deposits (FCDs) for international liquidity shortages in Pakistan. The analysis focuses on how the large volume of FCDs and the specific institutional characteristics of those deposits have made the Pakistan economy highly vulnerable to...
Persistent link: https://www.econbiz.de/10005826483
This paper discusses the experience of the EU's eight new member countries (EU8) between 1995 and 2003 when the bulk of capital account liberalization took place, focusing on interest-rate-sensitive portfolio flows and financial flows. It takes stock of the lessons from capital flow patterns to...
Persistent link: https://www.econbiz.de/10005768739
with the yen carry-trade; and that China is key to understanding Asia's demographic impact on the world. It also finds that … for regional financial integration among world regions. Moreover, the demographic transition is unlikely to result in an … asset price meltdown and could even raise world interest rates under perfect capital mobility. …
Persistent link: https://www.econbiz.de/10005768978
This 2002 Article IV Consultation highlights that after four years of strong growth, economic activity in Cyprus has tailed off since late 2001, affected by the global economic slowdown. The authorities estimate growth for 2002 to have declined to 2.3 percent, with falling tourist arrivals and...
Persistent link: https://www.econbiz.de/10005591321
India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are …
Persistent link: https://www.econbiz.de/10011244299
The 2007 Article IV Consultation reports on Ghana’s recent economic and policy development. Public Financial Management (PFM) has been strengthened through improvements in fiscal reporting and deployment of the new computerized payroll management system. Executive Directors commended the...
Persistent link: https://www.econbiz.de/10011244661