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A Solution to Two Paradoxes of International Capital Flow
Wei, Shang-Jin; Ju, Jiandong - International Monetary Fund (IMF) - 2006
property rights(i.e., the risk of expropriation. A poor country with an inefficient financial system but a low expropriation … risk may simultaneously experience an outflow of financial capital but an inflow of foreign direct investment (FDI …
Persistent link: https://www.econbiz.de/10005768844
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Managing Risks in Financial Market Development; The Role of Sequencing
International Monetary Fund (IMF); International … - 2003
This paper proposes an integrated and risk-based approach to the sequencing and coordination of reforms to develop … and risk-mitigation measures is proposed to minimize both macroeconomic and financial risks. Capital account opening can …. The paper also argues that domestic institutional investors are critical to market development and risk mitigation. …
Persistent link: https://www.econbiz.de/10005768863
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Financial Development in Emerging Europe; The Unfinished Agenda
Zoli, Edda - International Monetary Fund (IMF) - 2007
This paper assesses the status of financial development in Emerging Europe, analyzes the factors that have shaped it, and discusses policy priorities. Financial development has progressed to varying degrees across the region. Macroeconomic stability and institutional quality have been important...
Persistent link: https://www.econbiz.de/10005605312
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Taxing Financial Transactions; Issues and Evidence
Matheson, Thornton - International Monetary Fund (IMF) - 2011
In reaction to the recent financial crisis, increased attention has recently been given to financial transaction taxes (FTTs) as a means of (1) raising revenue for a variety of possible purposes and/or (2) helping to curb financial market excesses. This paper reviews existing theory and evidence...
Persistent link: https://www.econbiz.de/10008876594
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Factor Endowment, Structural Coherence, and Economic Growth
Che, Natasha Xingyuan - International Monetary Fund (IMF) - 2012
This paper studies the linkage between structural coherence and economic growth. Structural coherence is defined as the degree that a country's industrial structure optimally reflects its factor endowment fundamentals. The paper found that at least for the overall capital, the shares of capital...
Persistent link: https://www.econbiz.de/10010878416
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Japan; 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion.
International Monetary Fund (IMF); International … - 2007
This 2007 Article IV Consultation highlights that Japan’s external position remains strong. Boosted by investment income, the current account surplus widened in 2006 to nearly 4 percent of Japan’s GDP, despite a shrinking trade balance. Financial outflows also picked up, reflecting...
Persistent link: https://www.econbiz.de/10011244973
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Former Yugoslav Republic of Macedonia; 2010 Article IV Consultation and Request for an Arrangement Under the Precautionary Credit Line
International Monetary Fund (IMF); International … - 2011
In this study, economic recovery and growth of Macedonia are discussed. In the financial sector, nonperforming loans (NPLs) rose, and bank profitability declined as a result of the crisis. Executive Directors agreed with the thrust of the staff appraisal. Directors were encouraged by the overall...
Persistent link: https://www.econbiz.de/10011245225
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Capital Income Taxation and Economic Growth in Open Economies
Palomba, Geremia - International Monetary Fund (IMF) - 2004
necessarily the same. A country can increase its share of the existing world capital by changing its taxes but, depending on the …
Persistent link: https://www.econbiz.de/10005263657
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The Savings Trap and Economic Take-Off
Ghosh, Atish R.; Asilis, Carlos M. - International Monetary Fund (IMF) - 1992
We develop an overlapping generations model of a developing economy in which ‘culture’ and technology interact to 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...
Persistent link: https://www.econbiz.de/10005263787
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Explaining Russia's Output Collapse; Aggregate Sources and Regional Evidence
Dolinskaya, Irina; Tytell, Irina - International Monetary Fund (IMF) - 2001
This paper explores sources of the output collapse in Russia during transition. A modified growth accounting framework is developed that takes into account changes in factor utilization typical of the transition process. The results indicate that declines in factor inputs and productivity were...
Persistent link: https://www.econbiz.de/10005826009