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What is Shadow Banking?
Claessens, Stijn; Ratnovski, Lev - International Monetary Fund (IMF) - 2014
There is much confusion about what shadow banking is. Some equate it with securitization, others with non-traditional bank activities, and yet others with non-bank lending. Regardless, most think of shadow banking as activities that can create systemic risk. This paper proposes to describe...
Persistent link: https://www.econbiz.de/10011123838
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The Net Stable Funding Ratio: Impact and Issues for Consideration
Gobat, Jeanne; Yanase, Mamoru; Maloney, Joseph - International Monetary Fund (IMF) - 2014
policy issues for consideration in implementing the NSFR. …
Persistent link: https://www.econbiz.de/10011142026
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And Schumpeter Said, "This is How Thou Shalt Grow"; Further Quest for Economic Growth in Poor Countries
Beaugrand, Philippe - International Monetary Fund (IMF) - 2004
The paper reviews the “stylized facts” on economic growth gathered by Easterly and Levine in their 2001 joint paper and illustrates some of the points made on the basis of data from the IMF’s World Economic Outlook on real growth and per capita GDP since 1970. The data show that the growth...
Persistent link: https://www.econbiz.de/10005825901
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Growth and Capital Flows with Risky Entrepreneurship
Sandri, Damiano - International Monetary Fund (IMF) - 2010
This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why growth accelerations in developing countries tend to be associated with current account improvements. The uninsurable risk of losing invested capital forces entrepreneurs...
Persistent link: https://www.econbiz.de/10008519499
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Explaining Economic Growth with Imperfect Credit Markets
Carranza, Luis - International Monetary Fund (IMF) - 2000
The purpose of this paper is to explain the humped-shaped behavior of the growth rate. Within a dynamic general equilibrium framework, it is found that, in the early stages of development, the source of growth is the reallocation of resources from sectors low-productivity sectors to...
Persistent link: https://www.econbiz.de/10005605049
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Costly Collateral and the Public Supply of Liquidity
Schellekens, Philip - International Monetary Fund (IMF) - 2000
This paper addresses two complications arising from the use of collateral requirements in debt contracts between wealth-constrained entrepreneurs and banks. First, costly asset liquidation is found to enhance the susceptibility of debt finance to interest rate volatility. Second, aggregate...
Persistent link: https://www.econbiz.de/10005605375
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Intangible Capital, Relative Asset Shortages and Bubbles
Giglio, Stefano; Severo, Tiago - International Monetary Fund (IMF) - 2011
We analyze an overlapping generations economy with financial frictions and accumulation of both physical and intangible capital. The key difference between them is that intangible capital cannot be used as collateral for borrowing. As intangibles become more important in production, financial...
Persistent link: https://www.econbiz.de/10009370542
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Monetary Policy Transmission in the GCC Countries
Prasad, Ananthakrishnan; Espinoza, Raphael A. - International Monetary Fund (IMF) - 2012
The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby … reducing their freedom to run an independent monetary policy. This paper shows, however, that the pass-through of policy rates … operate. In addition to policy rates, the GCC monetary authorities use reserve requirements, loan-to-deposit ratios, and other …
Persistent link: https://www.econbiz.de/10010878414
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Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America
International Monetary Fund (IMF); International … - 2012
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the … monetary policy. In this paper, we examine the role of reserve requirements and other macroprudential instruments and report … have a moderate and transitory effect and play a complementary role to monetary policy. …
Persistent link: https://www.econbiz.de/10010878415
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Cambodia; 2007 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2007
This 2007 Article IV Consultation underlies that strong macroeconomic policies have enabled Cambodia to achieve impressive growth and make inroads into poverty. Supported by prudent fiscal and monetary policies that have strengthened the economy’s resilience to shocks, growth has averaged...
Persistent link: https://www.econbiz.de/10011244160