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The Savings Trap and Economic Take-Off
Ghosh, Atish R.; Asilis, Carlos M. - International Monetary Fund (IMF) - 1992
determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each … period, result in either of two stable equilibria for the savings rate. At the “good” equilibrium, savings and growth are … individual’s belief about the savings behavior of other agents in the economy. The model implies that fiscal policy or public …
Persistent link: https://www.econbiz.de/10005263787
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A Real Model of Transitional Growth and Competitiveness in China
Lipschitz, Leslie; Verdier, Geneviève; Rochon, Céline - International Monetary Fund (IMF) - 2008
We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only...
Persistent link: https://www.econbiz.de/10005825815
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Capital Markets and External Current Accounts; What to Expect From the Euro
Decressin, Jörg; Disyatat, Piti - International Monetary Fund (IMF) - 2000
The paper compares the degree of capital market integration across euro-area countries with that across regions in Italy and provinces in Canada. Analyzing saving-investment correlations, and developing as well as fitting to the data a model of capital flows, reveal no compelling differences...
Persistent link: https://www.econbiz.de/10005599615
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Causes of Asset Shortages in Emerging Markets
Chen, Jiaqian; Imam, Patrick A. - International Monetary Fund (IMF) - 2011
as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We develop a model that …
Persistent link: https://www.econbiz.de/10009147327
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Official Financial Flows, Capital Mobility, and Global Imbalances
Bayoumi, Tamim; Gagnon, Joseph E.; Saborowski, Christian - International Monetary Fund (IMF) - 2014
We use a cross-country panel framework to analyze the effect of net official flows (chiefly foreign exchange intervention) on current accounts. We find that net official flows have a large but plausible effect on current account balances. The estimated effects are larger with instrumental...
Persistent link: https://www.econbiz.de/10010959470
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Belgium; Technical Note on Stress Testing the Banking and Insurance Sectors
International Monetary Fund (IMF); International … - 2013
The Belgium Financial Sector Assessment Program (FSAP) stress testing exercise examines a financial sector that remains in a state of transformation. Domestic economic challenges remain sources of continued uncertainty as the banking sector consolidates and reduces funding risks. Insurers face...
Persistent link: https://www.econbiz.de/10011245216
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Capital Inflows; The Role of Controls
Ostry, Jonathan David; Ghosh, Atish R.; Habermeier, … - International Monetary Fund (IMF) - 2010
countries (EMEs). These flows, and capital mobility more generally, allow countries with limited savings to attract financing …
Persistent link: https://www.econbiz.de/10011245861
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Financial Integration, Growth, and Volatility
Epaulard, Anne; Pommeret, Aude - International Monetary Fund (IMF) - 2005
The aim of this paper is to evaluate the welfare gains from financial integration for developing and emerging market economies. To do so, we build a stochastic endogenous growth model for a small open economy that can (i) borrow from the rest of the world, (ii) invest in foreign assets, and...
Persistent link: https://www.econbiz.de/10005248157
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Financial Sector Evolution in the Central European Economies; Challenges in Supporting Macroeconomic Stability and Sustainable Growth
Wagner, Nancy L.; Iakova, Dora M. - International Monetary Fund (IMF) - 2001
This paper takes stock of the current state of development of the financial systems in five Central European transition economies (the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia) that are also leading EU accession candidates. It presents both a progress report and an...
Persistent link: https://www.econbiz.de/10005248292
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Romania; Selected Issues and Statistical Appendix
International Monetary Fund (IMF); International … - 2003
This Selected Issues paper and Statistical Appendix provides an estimate of the long-term path of Romania’s real exchange rate. The paper describes the recent history of the real exchange rate and its main determinants. A model is developed of a time-varying long-term exchange rate path,...
Persistent link: https://www.econbiz.de/10005252850