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Capital Flows and Financial Stability; Monetary Policy and Macroprudential Responses
Unsal, D. Filiz - International Monetary Fund (IMF) - 2011
The resumption of capital flows to emerging market economies since mid 2009 has posed two sets of interrelated challenges for policymakers: (i) to prevent capital flows from exacerbating overheating pressures and consequent inflation, and (ii) to minimize the risk that prolonged periods of easy...
Persistent link: https://www.econbiz.de/10009293772
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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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Does Financial Globalization Induce Better Macroeconomic Policies?
Wei, Shang-Jin; Tytell, Irina - International Monetary Fund (IMF) - 2004
Monetary and fiscal policies around the world are in better shape today than two decades ago. This paper studies … whether financial globalization has helped induce governments to pursue better macroeconomic policies (the "discipline effect … robust causal evidence. There is some evidence that financial globalization may have induced countries to pursue low …
Persistent link: https://www.econbiz.de/10005768809
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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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External Imbalances and Financial Crises
Taylor, Alan - International Monetary Fund (IMF) - 2013
Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in...
Persistent link: https://www.econbiz.de/10010790262
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Europe and Global Imbalances
Lane, Philip R.; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2007
financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of …
Persistent link: https://www.econbiz.de/10005599397
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Benchmarking Structural Transformation Across the World
Dabla-Norris, Era; Thomas, Alun H.; Garcia-Verdu, Rodrigo; … - International Monetary Fund (IMF) - 2013
This paper documents stylized facts on the process of structural transformation around the world and empirically …
Persistent link: https://www.econbiz.de/10010790237
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Financial Sector Evolution in the Central European Economies; Challenges in Supporting Macroeconomic Stability and Sustainable Growth
Wagner, Nancy L.; Iakova, Dora M. - International Monetary Fund (IMF) - 2001
This paper takes stock of the current state of development of the financial systems in five Central European transition economies (the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia) that are also leading EU accession candidates. It presents both a progress report and an...
Persistent link: https://www.econbiz.de/10005248292
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Financial System Standards and Financial Stability; The Case of Basel Core Principles
Marston, David - International Monetary Fund (IMF) - 2001
The relationship between the observance of financial system standards and financial stability is complex owing to the multitude of macroeconomic and structural factors affecting stability. Therefore, assessments of standards in terms of technical criteria for compliance needs to be reinforced...
Persistent link: https://www.econbiz.de/10005264028
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Capital Account Liberalization and Financial Sector Stability
International Monetary Fund (IMF); International … - 2002
Persistent link: https://www.econbiz.de/10005824821