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Competition in the Financial Sector; Overview of Competition Policies

Claessens, Stijn - International Monetary Fund (IMF) - 2009

As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests …, however, that unfettered competition is not first best given the special features of finance. I review these analytics and … describe how to assess the degree of competition in markets for financial services. Existing research shows that the degree of …

Persistent link: https://www.econbiz.de/10005826668

Chile; Institutions and Policies Underpinning Stability and Growth

Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004

This paper presents the primary institutions and economic policies that have led to Chileâ€™s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

Persistent link: https://www.econbiz.de/10005767351

United Arab Emirates; Selected Issues and Statistical Appendix

International Monetary Fund (IMF); International … - 2003

This Selected Issues paper and Statistical Appendix presents five essays examining issues in the United Arab Emirates related to the financial sector, long-term fiscal trends, fiscal sustainability, the competitiveness of the non-oil economy, and the labor market, as well as estimates of the...

Persistent link: https://www.econbiz.de/10005768385

Singapore; 2003 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2004

The economic downturns and an ongoing industrial restructuring toward capital-intensive sectors, such as chemical and pharmaceuticals, have contributed to rising unemployment. With the economic recovery continuing to gain momentum, the near-term outlook has improved. With broad agreement on the...

Persistent link: https://www.econbiz.de/10005768513

Helping Hand or Grabbing Hand? Supervisory Architecture, Financial Structure and Market View

Quintyn, Marc; Masciandaro, Donato - International Monetary Fund (IMF) - 2008

The literature stresses the importance of financial market characteristics in determining the supervisory architectures. In the real world it is not always clear to what extent market features are taken into account. We present two complementary approaches to gain insights in the above...

Persistent link: https://www.econbiz.de/10005768758

A Solution to Two Paradoxes of International Capital Flow

Wei, Shang-Jin; Ju, Jiandong - International Monetary Fund (IMF) - 2006

International capital flows from rich to poor countries can be regarded as either too low (the Lucas paradox in a one-sector model) or too high (when compared with the logic of factor price equalization in a two-sector model). To resolve the paradoxes, we introduce a non-neoclassical model which...

Persistent link: https://www.econbiz.de/10005768844

Financial System Soundness in the Caribbean; An Initial Assessment

Cherebin, Desiree; Worrell, DeLisle; Polius, Tracy - International Monetary Fund (IMF) - 2001

A survey of the financial systems of Caribbean countries reveals systems dominated by banks, with services widely available. Jamaica is the only country to have experienced a financial crisis. The paper describes recent improvements in the regulatory framework, and examines factors, which affect...

Persistent link: https://www.econbiz.de/10005768880

FDI Spillovers, Financial Markets and Economic Development

Sayek, Selin; Alfaro, Laura; Chanda, Areendam; … - International Monetary Fund (IMF) - 2003

This paper examines the role financial markets play in the relationship between foreign direct investment (FDI) and economic development. We model an economy with a continuum of agents indexed by their level of ability. Agents can either work for the foreign company or undertake entrepreneurial...

Persistent link: https://www.econbiz.de/10005768918

Contagion Risk in the International Banking System and Implications for London As a Global Financial Center

Chan-Lau, Jorge A.; Mitra, Srobona; Ong, Li L. - International Monetary Fund (IMF) - 2007

In this paper, we use the extreme value theory (EVT) framework to analyze contagion risk across the international banking system. We test for the likelihood that an extreme shock affecting a major, systemic U.K. bank would also affect another large local or foreign counterpart, and vice-versa....

Persistent link: https://www.econbiz.de/10005768965

Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi

Chirwa, Ephraim W.; Mlachila, Montfort - International Monetary Fund (IMF) - 2002

This study investigates the impact of financial sector reforms on interest rate spreads in the commercial banking system in Malawi. The financial reform program commenced in 1989 when both the Reserve Bank Act and the Banking Act were revised with the easing of entry requirements into the...

Persistent link: https://www.econbiz.de/10005768992