This study estimated Indonesia's potential growth rate and examined its underlying determinants. Implementing a comprehensive program to address key influencing issues can improve the effectiveness of monetary policy, increase financial stability, and support capital market development. This...

Assiduously tracking the trends and consequences of globalization, the IMF's quarterly magazine Finance & Development has been a major forum for discussing-and dissecting-the policy options and challenges faced by governments in an era when many national decisions transcend borders. This...

This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability...

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 luck”). Rapid credit growth followed from a high liquidity in global...

Provides a comprehensive survey of recent developments in international financial markets, including developments in emerging capital markets, bond markets, major currency markets, and derivative markets. The report focuses on efforts by the major industrial countries to strengthen the...