Using domestic and export price data and a framework of markup over cost, pricing behavior of U.S. and Japanese manufacturers is compared. Major export industries in Japan have higher productivity growth and lower pass-through coefficients than American exporters, who tend to price to domestic...

This paper compares the effective rates of taxation faced by a representative investor located in a major capital-exporting country for investments in machinery and buildings in nine capital-importing European countries. Poland and Hungary are found to have relatively high effective tax rates on...

A joint IMF-World Bank mission visited the Russian Federation from March 15 to 31, 2016, to conduct an assessment under the Financial Sector Assessment Program (FSAP). The mission assessed financial sector risks and vulnerabilities, assessed the quality of financial sector supervision, and...

State-owned financial institutions fall into three main groups: commercial banks, hybrid banks, and development institutions. The larger state-owned commercial banks/ groups include Sberbank, the VTB Bank group, and Gazprombank. Like private commercial banks, these institutions do not have a...