The Asian crisis hit the Hong Kong Special Administrative Region (SAR) economy hard in 1998, despite its generally strong fundamentals. In response to the crisis, the authorities eased fiscal policy—within the framework of a medium plan to restore budget balance, and significantly strengthened...

In this study, quantitative, industry-level measures of the intensity of competition are measured. Various methodologies and data used for measuring competition are also discussed. The level of intensity is also compared. The following statistical data are also presented in detail: gross fixed...

This study estimates quantitative, industry-level measures of the intensity of competition and also discusses various methodologies and data used for measuring competition. The following data are also included in the study: gross fixed capital formation, selected price indicators, labor force,...

This paper reviews economic developments in Hong Kong Special Administrative Region during 1997–98. The paper highlights that beginning in mid-1997, the regional crisis began to erode confidence in Hong Kong’s exchange rate and prompted a series of speculative attacks. Pressures on the...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This Selected Issues paper analyzes Senegal’s real effective exchange rate (REER) and external competitiveness. A REER significantly above its equilibrium, as determined by economic fundamentals, can impede a country’s external competitiveness, calling for corrective macroeconomic measures....

This Selected Issues paper on Azerbaijan Republic reports that the government has made substantial progress in dealing with energy-related subsidies. The domestic market for oil products has been tightly regulated by the government since Azerbaijan gained independence. Azerbaijan is largely...

Energy prices in the GCC countries are low by international standards. These low prices have co-existed with rapid economic development in the region over the past 50 years, but the costs of this policy have also risen in terms of very high energy usage per capita. Providing energy at low prices...

Regulating energy prices has been a common practice around the world. The objective is, generally, to facilitate access to energy products, which are central to people's well-being and countries' economic development. However, energy price regulation also leads to wasteful and excessive...