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Capital flows to the nonindustrial countries share three striking characteristics. First, the bulk, of these flows was in the form of debt, not equity; second, the loans were mostly to, or guaranteed by, debtor governments; and third, these debts were largely bank loans, not bonds. This paper...
Persistent link: https://www.econbiz.de/10014396446
This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility respond to news about macroeconomic fundamentals. As in mature bond markets, macroeconomic surprises in external emerging bond markets are found to a¤ect both conditional...
Persistent link: https://www.econbiz.de/10014404285
Persistent link: https://www.econbiz.de/10009423201
This paper reviews the coordinated portfolio investment survey (CPIS) guide. The objectives of CPIS are to collect comprehensive information, with geographical detail on the country of residence of the issuer, on the stock of cross-border equities, long-term bonds and notes, and short-term debt...
Persistent link: https://www.econbiz.de/10014405494
Global capital flows have multiplied many times over in recent years, mainly between advanced economies but increasingly also to emerging markets, reflecting the general reduction in regulatory and informational barriers. Thus, with international asset positions now dwarfing output, global...
Persistent link: https://www.econbiz.de/10014410409
This paper presents a coordinated portfolio investment survey guide provided to assist national compilers in the conduct of the Coordinated Portfolio Investment Survey, conducted under the auspices of the IMF with reference to the year-end 1997. The guide covers a variety of conceptual issues...
Persistent link: https://www.econbiz.de/10014397773
We examine the effect of non-zero, long-run foreign asset positions on consumption dynamics in response to productivity shocks in a two-country, dynamic, general equilibrium model, with different discount factors across countries populated by overlapping generations of households. We then...
Persistent link: https://www.econbiz.de/10014400067
Developing and transition economies are prone to financial crises, including balance of payments and banking crises. These crises affect poverty and the distribution of income through a variety of channels: slowdowns in economic activity, relative price changes, and fiscal retrenchment, among...
Persistent link: https://www.econbiz.de/10014401806
have facilitated the maintenance of orderly economic conditions in Mexico even amidst the substantial external volatility … during the global crisis. Executive Directors welcomed the authorities’ commitment to maintain Mexico’s strong policy … Flexible Credit Line has helped Mexico to maintain confidence and also to insure against external risks while supporting a …
Persistent link: https://www.econbiz.de/10014402129
This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the …
Persistent link: https://www.econbiz.de/10014402930