Showing 1 - 10 of 67
This paper shows how growth and demography, two important determinants of the savings rate in the life-cycle approach, explain a large part of the diversity in savings behavior in Asia across eight countries as well as over time. Inflation and adverse movements in the terms of trade are found to...
Persistent link: https://www.econbiz.de/10014396475
The paper analyzes the development of government social expenditure during the economic stabilization period, with specific reference to the changing needs for such expenditure arising from the change in Israel’s demographic structure. The results reveal a real cut in direct services. The...
Persistent link: https://www.econbiz.de/10014396494
This paper reviews the financial implications of aging for the pension system in Belgium during 1995-2050. Our simulations indicate a strong rise in pension expenditure over the next half century, as is the case in other industrialized countries. In Belgium, the problem is particularly acute in...
Persistent link: https://www.econbiz.de/10014396528
In the last decade Cape Verde has experienced a strong accumulation of emigrant deposits. These deposits have provided much needed foreign exchange to the country, adding support to the exchange rate peg. This paper studies the long-run determinants of emigrant deposits with respect to risk,...
Persistent link: https://www.econbiz.de/10014400380
Of the new members entering the European Union (EU) in May 2004, several had achieved a decade of impressive export growth, expanding significantly their shares of world markets. The empirical analysis shows that over the period 1994–2004, quality and technology upgrading associated with the...
Persistent link: https://www.econbiz.de/10014404829
The current cyclical upswing underscores the potential of the Polish economy with regard to EU accession and in the face of favorable global growth prospects. The current juncture offers good opportunities to lock in improved economic performance. Uncertainties remain regarding reducing the...
Persistent link: https://www.econbiz.de/10014404838
This technical note for the Republic of Poland on competition and performance explains the Polish pension system and …
Persistent link: https://www.econbiz.de/10014404943
This paper provides three policy lessons to take full advantage of the opportunity afforded by EU funds. The main features of the global integrated monetary and fiscal (GIMF) model and how it was modified to account for income convergence are discussed. The impact of EU funds as exhibited in the...
Persistent link: https://www.econbiz.de/10014405140
The external sector has an increasing drag on the economy. The current account deficit remains fully financed by FDI, and the underlying balance is consistent with external-debt stabilizing levels. The stock market retrenchment has been severe, but it followed substantial gains since 2006....
Persistent link: https://www.econbiz.de/10014405260
This paper focuses on an arrangement under the Flexible Credit Line (FCL) for the Republic of Poland. Poland … and retrenchment in international capital markets. IMF staff concurs and believes that, given Poland’s regional importance …, the FCL may provide insurance not only to Poland, but also to the region more broadly …
Persistent link: https://www.econbiz.de/10014405722