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After the Crisis; Lower Consumption Growth But Narrower Global Imbalances?
Ohnsorge, Franziska; Mody, Ashoka - International Monetary Fund (IMF) - 2010
We estimate consumption dynamics in the G-7 economies, paying particular attention to the possibility of precautionary … consumption growth. As such, consumption in the G-7 economies is unlikely to be the engine that revives global growth. Differences … in the pace and timing of consumption moderation have implications for the evolution of global imbalances. With the U …
Persistent link: https://www.econbiz.de/10008561067
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Escaping the Curse of Oil? The Case of Gabon
Söderling, Ludvig - International Monetary Fund (IMF) - 2002
This paper studies the prospects for sustainable growth and economic development in Gabon, in the face of a severe decline in its main source of income and growth, i.e. oil. A simple Computable General Equilibrium model is used to simulate the development of the non-oil economy under various...
Persistent link: https://www.econbiz.de/10005605292
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Growth Following Investment and Consumption-Driven Current Account Crises
Klemm, Alexander - International Monetary Fund (IMF) - 2013
surpluses without a fall in consumption, capital inflows should be used to increase future output. This paper tentatively finds … following consumption booms. It also shows that many recent large current account deficits have been predominantly the result of … consumption or non-productive investment booms. …
Persistent link: https://www.econbiz.de/10010790435
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World Saving
Grigoli, Francesco; Herman, Alexander; Schmidt-Hebbel, Klaus - International Monetary Fund (IMF) - 2014
This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different...
Persistent link: https://www.econbiz.de/10011105401
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Saudi Arabia; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This staff report on Saudi Arabia’s 2013 Article IV Consultation discusses economic policies and development. As the largest crude oil exporter, and the only producer with significant spare capacity, Saudi Arabia plays a systemic and stabilizing role in the global oil market. In 2011,...
Persistent link: https://www.econbiz.de/10011244901
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The Role of Structural Reforms in Raising Economic Growth in Central America
Swiston, Andrew; Barrot, Luis-Diego - International Monetary Fund (IMF) - 2011
Central America experienced moderate growth during the last decade, including in the years leading up to the global financial crisis, but the rate of convergence toward advanced country income levels has still been slow. Moreover, forecasts imply that these trends will continue. What can be done...
Persistent link: https://www.econbiz.de/10009369454
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Riding the Roller Coaster; Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean
Murphy, Pablo Lopez; Villafuerte, Mauricio; Ossowski, … - International Monetary Fund (IMF) - 2010
This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procyclical during the boom period 2003-08 but to significantly differing degrees...
Persistent link: https://www.econbiz.de/10008727790
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Structural Breaks in Fiscal Performance; Did Fiscal Responsibility Laws Have Anything to Do with them?
Medina, Leandro; Caceres, Carlos; Corbacho, Ana - International Monetary Fund (IMF) - 2010
In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically...
Persistent link: https://www.econbiz.de/10008727801
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Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?
Erbil, Nese - International Monetary Fund (IMF) - 2011
-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary …
Persistent link: https://www.econbiz.de/10009203530
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International Risk Sharing During the Globalization Era
Matsumoto, Akito; Flood, Robert P.; Marion, Nancy P. - International Monetary Fund (IMF) - 2009
sharing comes mostly from the convergence in rates of consumption growth among countries rather than from synchronization of … consumption at the business cycle frequency. Our finding explains why many existing measures fail to detect improved risk sharing …
Persistent link: https://www.econbiz.de/10008559272