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Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa
Debrun, Xavier; Pattillo, Catherine A.; Masson, Paul R. - International Monetary Fund (IMF) - 2010
This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions … actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive … same improvements as monetary integration, reducing the latter’s relative attractiveness. …
Persistent link: https://www.econbiz.de/10008560420
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Euro Area Policies; 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Direct...
International Monetary Fund (IMF); International … - 2007
might well require a further gradual tightening of monetary policy. Increased contestability and integration in the …
Persistent link: https://www.econbiz.de/10011245374
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Developing Essential Financial Markets in Smaller Economies; Stylized Facts and Policy Options
International Monetary Fund (IMF); International … - 2008
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
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European Union Enlargement and Equity Markets in Accession Countries
Podpiera, Richard; Dvorák, Tomás - International Monetary Fund (IMF) - 2005
due to the integration of accession countries into the world market. We found that firm-level stock price changes are …
Persistent link: https://www.econbiz.de/10005768729
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Asia’s Stock Markets: Are There Crouching Tigers and Hidden Dragons?
Lipinsky, Fabian; Ong, Li Lian - International Monetary Fund (IMF) - 2014
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region’s markets are reputed to be more “idiosyncratic†and less reliant on economic and corporate fundamentals...
Persistent link: https://www.econbiz.de/10011142146
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Sub-Saharan Africa's Integration in the Global Financial Markets
Deléchat, Corinne; Wakeman-Linn, John; Wagh, Smita; … - International Monetary Fund (IMF) - 2009
The paper uses a unique database covering 44 countries in sub-Saharan Africa (SSA) countries between 2000 and 2007 to …
Persistent link: https://www.econbiz.de/10008528679
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People’s Republic of China; Hong Kong Special Administrative Region: 2007 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion...
International Monetary Fund (IMF); International … - 2008
Hong Kong has grown strongly as a result of its successful transformation from a manufacturing presence to a services hub over past decades. Executive Directors support the government’s commitment for the Linked Exchange Rate System. Hong Kong’s future as a financial center is...
Persistent link: https://www.econbiz.de/10011245140
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Former Yugoslav Republic of Macedonia; 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Direc...
International Monetary Fund (IMF); International … - 2009
The staff report for the 2008 Article IV Consultation of the Former Yugoslav Republic of Macedonia discusses economic developments and policies. The new government’s economic program aims to raise growth further, but does not address these vulnerabilities. Plans to increase the central...
Persistent link: https://www.econbiz.de/10011245331
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Central America; Global Integration and Regional Cooperation
Rodlauer, Markus; Schipke, Alfred - International Monetary Fund (IMF) - 2005
United States (CAFTA-DR), noting that the agreement will provide a boost to the integration process. To maximize the benefits …
Persistent link: https://www.econbiz.de/10005252532
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Central African Economic and Monetary Community—Paper on Recent Developments and Regional Policy Issues; Staff Supplement; Public Information Notice on the Executive Board Discus...
International Monetary Fund (IMF); International … - 2003
Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the...
Persistent link: https://www.econbiz.de/10005252643