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The Credit Boom in the EU New Member States; Bad Luck or Bad Policies?
International Monetary Fund (IMF); International … - 2010
In the past decade, most of the EU New Member States experienced a severe credit-boom bust cycle. This paper argues that the credit boom-bust cycle was to a large extent the result of factors external to the region (“bad luckâ€). Rapid credit growth followed from a high liquidity in...
Persistent link: https://www.econbiz.de/10008560433
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Monetary Policy and Corporate Behaviour in India
International Monetary Fund (IMF); International … - 2005
The paper examines the association and corporate behavior for a sample of manufacturing firms in India for the post-reform period 1992-2003. The findings suggest that a contractionary monetary policy lowers overall debt including bank debt, although the lagged response is positive, and listed...
Persistent link: https://www.econbiz.de/10005263785
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The Cyclicality of Fiscal Policies in the CEMAC Region
International Monetary Fund (IMF); International … - 2011
. We further find that institutional weaknesses and poor governance partly explain this behavior. In contrast, the …
Persistent link: https://www.econbiz.de/10009293764
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A European Mandate for Financial Sector Supervisors in the EU
International Monetary Fund (IMF); International … - 2009
The EU is deliberating the introduction of an explicit "European mandate" for financial sector supervisors to supplement national mandates. Suggestions are made on (i) the formulation of a European mandate; (ii) the policy areas to which it should apply; (iii) which institutions should be given a...
Persistent link: https://www.econbiz.de/10005769128
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Fiscal Decentralization and Governance; A Cross-Country Analysis
International Monetary Fund (IMF); International … - 2001
governance, such as corruption, rule of law, and government effectiveness. Unlike previous studies in the decentralization/governance … the relationship between decentralization and governance depends on how subnational expenditures are financed. The higher … stronger the association between decentralization and governance. …
Persistent link: https://www.econbiz.de/10005769179
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Oil Rents, Corruption, and State Stability; Evidence From Panel Data Regressions
International Monetary Fund (IMF); International … - 2009
We examine the effects of oil rents on corruption and state stability exploiting the exogenous within-country variation of a new measure of oil rents for a panel of 31 oil-exporting countries during the period 1992 to 2005. We find that an increase in oil rents significantly increases...
Persistent link: https://www.econbiz.de/10008497600
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Measuring Fiscal Decentralization; Exploring the IMF’s Databases
International Monetary Fund (IMF); International … - 2011
Conventional wisdom postulates that there are benefits from decentralizing government finances but there is little empirical evidence about actual country practices. This paper presents data on fiscal decentralization for about 80 countries over a period of about 20 years (1990-2008) from the...
Persistent link: https://www.econbiz.de/10009151217
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The IMF's Government Finance Statistics Yearbook; Maps of Government for 74 Countries
International Monetary Fund (IMF); International … - 2011
A useful but little known feature of the IMF’s Government Finance Statistics Yearbook (GFSY) is the information on the structure of governments. Institutional tables, included in the GFSY, provide detail on the central, state, and local levels of governments, social security, and...
Persistent link: https://www.econbiz.de/10009151233
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Inflation Responses to Commodity Price Shocks; How and Why Do Countries Differ?
International Monetary Fund (IMF); International … - 2012
sustained inflationary effects from commodity price shocks. Countries with more independent central banks and higher governance …
Persistent link: https://www.econbiz.de/10011242416