Showing 1 - 10 of 37
During the twin crises of 2008–09 Georgia’s foreign exchange reserves have been exposed to a number of external and internal drains. Its exports declined by 21 percent from peak to trough. Bank deposits declined by more than 20 percent in late 2008–early 2009, while deposit dollarization...
Persistent link: https://www.econbiz.de/10014401170
This Selected Issues paper reviews the financial sector development in Georgia in recent years, and investigates why it has lagged behind economic development, as well as developments in more advanced transition economies. The paper briefly reviews recent financial sector development in Georgia,...
Persistent link: https://www.econbiz.de/10014405573
This paper focuses on post-crisis fiscal priorities in the ASEAN-5 economies - Indonesia, Malaysia, Philippines … stimulus, contributed to rapid economic recovery in the ASEAN-5. As growth rebounds, these economies are beginning to identify …
Persistent link: https://www.econbiz.de/10014402657
(ASEAN) countries continue their considerable past achievements. The Millennium Development Goals-which were to have been met … in education in the ASEAN developing countries. The 17 SDGs-adopted in 2015 and to be met by 2030-cover a wider set of …, including all ASEAN member countries. ASEAN countries have made significant progress in improving incomes and economic …
Persistent link: https://www.econbiz.de/10014408467
This Selected Issues paper reviews developments in health care spending in France and discusses the recent measures to improve the functioning of the system and contain costs. It argues that by addressing many of the issues that had bedeviled past reforms, the new measures offer a reasonable...
Persistent link: https://www.econbiz.de/10014397240
This Selected Issues paper addresses the question of what policy changes in France are needed under European Monetary Union (EMU), as regards the role of fiscal policy in stabilizing the economy. The fiscal strategy over the past two and a half decades is reviewed, and, against this background,...
Persistent link: https://www.econbiz.de/10014397924
This Selected Issues paper analyzes developments and issues in banking and financial markets in France. The paper provides an overview of the transition from a state-directed to a market-based financial system. It adopts a comprehensive approach and discusses the outcome of this transition in...
Persistent link: https://www.econbiz.de/10014397996
In January 1992, Kazakstan initiated a reform program to move toward market-determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level toward those observed in market economies. The paper shows how the piecemeal...
Persistent link: https://www.econbiz.de/10014398244
This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The paper uses these results to estimate a New Keynesian Phillips curve for Armenia,...
Persistent link: https://www.econbiz.de/10014398416
This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi-country Ricardian model of trade, based on the work of Eaton and Kortum (2002), into a macroeconomic model to show how bilateral real exchange rate volatility depends on relative technological...
Persistent link: https://www.econbiz.de/10014399797