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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 … uninsurable risk of losing invested capital forces entrepreneurs to rely on self-financing, so that when business opportunities … open up entrepreneurs increase saving to finance the investment that produces growth. The key insight is that saving has to …

Persistent link: https://www.econbiz.de/10008519499

And Schumpeter Said, "This is How Thou Shalt Grow"; Further Quest for Economic Growth in Poor Countries

Beaugrand, Philippe - International Monetary Fund (IMF) - 2004

entrepreneurs innovate—in the Schumpeterian sense—in order to bring about structural changes in the economy. The conclusion …

Persistent link: https://www.econbiz.de/10005825901

Sudden Stops, Output Drops, and Credit Collapses

Dagher, Jihad - International Monetary Fund (IMF) - 2010

This paper proposes a tractable Sudden Stop model to explain the main patterns in firm level data in a sample of Southeast Asian firms during the Asian crisis. The model, which features trend shocks and financial frictions, is able to generate the main patterns observed in the sample during and...

Persistent link: https://www.econbiz.de/10008646413

Show Me the Money; Access to Finance for Small Borrowers in Canada

Klyuev, Vladimir - International Monetary Fund (IMF) - 2008

This paper examines access to business finance by Canadian small and medium-sized enterprises (SMEs) and to housing finance by Canadian households (particularly non-prime borrowers) against the background of a fairly concentrated and protected banking industry. It finds access broadly adequate...

Persistent link: https://www.econbiz.de/10005769089

Food Prices and the Multiplier Effect of Trade Policy

Giordani, Paolo; Rocha, Nadia; Ruta, Michele - International Monetary Fund (IMF) - 2014

This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks. This creates a complementarity between the price of food in international...

Persistent link: https://www.econbiz.de/10010959482

Russian Federation; Selected Issues

International Monetary Fund (IMF); International … - 2004

This Selected Issues paper for the Russian Federation reviews trends in private capital flows to Russia by decomposing the flows into its subcomponents. Russia became a net lender to the international banking system, as a complement to the prolonged period of large current account surpluses. The...

Persistent link: https://www.econbiz.de/10005825143

From Crisis to Recovery in Korea; Strategy, Achievements, and Lessons

Kang, Kenneth; Liang, Hong; Ma, Henry; Richards, Anthony J. - International Monetary Fund (IMF) - 2001

This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant...

Persistent link: https://www.econbiz.de/10005825786

Implications of More Precise Information for Technological Development and Welfare

Eckwert, Bernhard; Drees, Burkhard - International Monetary Fund (IMF) - 2007

This paper analyzes the dynamic interactions between the precision of information, technological development, and welfare within an overlapping generations model. More precise information about idiosyncratic production shocks has ambiguous effects on technological progress and welfare, which...

Persistent link: https://www.econbiz.de/10005825975

Currency Crises and Foreign Reserves; A Simple Model

Disyatat, Piti - International Monetary Fund (IMF) - 2001

This paper addresses the important question of how far a government will run down its stock of foreign reserves in a defense of a fixed exchange rate. An optimizing model of currency crisis is presented in which the decision of whether or not to borrow in a defense of a peg is explicitly...

Persistent link: https://www.econbiz.de/10005826079

Finance and Convergence; What's Ahead for Emerging Europe?

Schellekens, Philip; Bems, Rudolfs - International Monetary Fund (IMF) - 2007

This paper singles out the key short-term risks and medium-term challenges related to finance and convergence in emerging Europe. With the help of a general equilibrium theoretical framework, the paper identifies pragmatic directions for policymakers. While the "speed limits" to capital inflows...

Persistent link: https://www.econbiz.de/10005826219

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