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Short-Run Pain, Long-Run Gain; The Effects of Financial Liberalization
Schmukler, Sergio L.; Kaminsky, Graciela Laura - International Monetary Fund (IMF) - 2003
We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...
Persistent link: https://www.econbiz.de/10005826221
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Internationalization of Emerging Market Currencies; A Balance Between Risks and Rewards
Ahmed, Faisal; Wang, Shengzu; Lago, Isabelle Mateos y; … - International Monetary Fund (IMF) - 2011
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...
Persistent link: https://www.econbiz.de/10011245894
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Cross-Border Investment in Small International Financial Centers
Lane, Philip R.; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2010
aggregate of cross-border investment positions. It also reports some information on bilateral cross-border investment patterns …
Persistent link: https://www.econbiz.de/10008519475
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The Elusive Gains From International Financial Integration
Gourinchas, Pierre-Olivier; Jeanne, Olivier - International Monetary Fund (IMF) - 2004
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...
Persistent link: https://www.econbiz.de/10005605034
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Germany; Selected Issues
International Monetary Fund (IMF); International … - 2006
For more than a decade, growth in Germany has been subdued and uneven. This paper introduces the stylized facts pertaining to the strength in exports, the weakness in domestic demand, and the surge in the current account. It discusses the adjustment undertaken in the private sector and its...
Persistent link: https://www.econbiz.de/10011244845
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Capital Flows and Demographics; An Asian Perspective
Lueth, Erik - International Monetary Fund (IMF) - 2008
with the yen carry-trade; and that China is key to understanding Asia's demographic impact on the world. It also finds that … for regional financial integration among world regions. Moreover, the demographic transition is unlikely to result in an … asset price meltdown and could even raise world interest rates under perfect capital mobility. …
Persistent link: https://www.econbiz.de/10005768978
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Controlled Capital Account Liberalization; A Proposal
Prasad, Eswar; Rajan, Raghuram - International Monetary Fund (IMF) - 2005
In this paper, we develop a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a portion of capital inflows through closed-end mutual funds that issue shares in domestic currency,...
Persistent link: https://www.econbiz.de/10005769373
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Sudden Stops and Currency Drops; A Historical Look
Catão, Luis - International Monetary Fund (IMF) - 2006
parallels in the early financial globalization era preceding World War I. All main capital-importing countries then faced … displayed striking crosscountry synchronization, being immediately preceded by rising world interest rates. Both fixed and …
Persistent link: https://www.econbiz.de/10005605128
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Samoa; Assessment of Financial Sector Supervision and Regulation including Report on the Observance of Standards and Codes on Banking Supervision
International Monetary Fund (IMF); International … - 2007
This assessment of Financial Sector Supervision and Regulation for Samoa provides an overview of legal and institutional frameworks. Compliance with the Basel Core Principles (BCPs) for the supervision of international and domestic banks has improved considerably. Supervision of domestic banks...
Persistent link: https://www.econbiz.de/10011244779
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Belgium; Technical Note on Crisis Management and Bank Resolution Framework
International Monetary Fund (IMF); International … - 2013
The ability of the National Bank of Belgium (NBB) to provide emergency liquidity assistance to solvent but temporarily illiquid firms is well tested and satisfactory. Belgian authorities are testing draft guidelines for recovery plans through pilot projects with selected firms that are of...
Persistent link: https://www.econbiz.de/10011245189