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The Elusive Gains From International Financial Integration
Gourinchas, Pierre-Olivier; Jeanne, Olivier - International Monetary Fund (IMF) - 2004
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...
Persistent link: https://www.econbiz.de/10005605034
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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
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 …” world, especially sub-Saharan Africa, has been getting poorer while the advanced economies have been getting richer. To … highlights several essential steps in creating a favorable environment for innovation and growth. …
Persistent link: https://www.econbiz.de/10005825901
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The Impact of the Great Recessionon Emerging Markets
Salman, Ferhan; Chivakul, Mali; Llaudes, Ricardo - International Monetary Fund (IMF) - 2010
This paper examines the impact of the recent global crisis on emerging market economies (EMs). Our cross-country analysis shows that the impact of the crisis was more pronounced in those EMs that had initial weaker fundamentals and greater financial and trade linkages. This effect is observed...
Persistent link: https://www.econbiz.de/10008727798
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The End of An Era? the Medium- and Long-Term Effects of the Global Crisison Growth in Low-Income Countries
Papageorgiou, Chris; Berg, Andrew; Pattillo, Catherine A.; … - International Monetary Fund (IMF) - 2010
This paper investigates the medium- and long-term growth effects of the global financial crises on Low-Income Countries (LICs). Using several methodological approaches, including impulse response function analysis, growth spells techniques and panel regressions, we show that external demand (ED)...
Persistent link: https://www.econbiz.de/10008671308
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The Global Financial Crisis; An Anatomy of Global Growth
Matheson, Troy - International Monetary Fund (IMF) - 2013
The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and pay particular attention to the period around the global financial crisis. A...
Persistent link: https://www.econbiz.de/10011242334
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Global Business Cycles; Convergence or Decoupling?
Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10005825794
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External Finance, Sudden Stops, and Financial Crisis; What is Different This Time?
International Monetary Fund (IMF); International … - 2010
literature, our results suggest that the greater a country's trade integration with the rest of the world, the greater the …
Persistent link: https://www.econbiz.de/10008560432
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Currency Crisis and Contagion; Evidence From Exchange Rates and Sectoral Stock Indices of the Philippines and Thailand
Nagayasu, Jun - International Monetary Fund (IMF) - 2000
This paper analyzes empirically the recent Asian financial crisis using high frequency data of exchange rates and stock indices of the Philippines and Thailand. Utilizing standard time-series techniques, this study confirms that there is evidence that developments in some sectoral...
Persistent link: https://www.econbiz.de/10005263754
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Financial Crises, Poverty, and Income Distribution
International Monetary Fund (IMF); International … - 2002
Developing and transition economies are prone to financial crises, including balance of payments and banking crises. These crises affect poverty and the distribution of income through a variety of channels: slowdowns in economic activity, relative price changes, and fiscal retrenchment, among...
Persistent link: https://www.econbiz.de/10005264050
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Macroprudential Policy; What Instruments and How to Use them? Lessons From Country Experiences
International Monetary Fund (IMF); International … - 2011
This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The...
Persistent link: https://www.econbiz.de/10009369434