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Competition and Firm Productivity; Evidence From Firm-Level Data
Schiffbauer, Marc; Ospina, Sandra - International Monetary Fund (IMF) - 2010
This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations … competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more … pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to …
Persistent link: https://www.econbiz.de/10008470387
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The Incidence and Effectiveness of Prior Actions in IMF-Supported Programs
Ramakrishnan, Uma; Thomas, Alun H. - International Monetary Fund (IMF) - 2006
Prior actions are measures that need to be implemented prior to Board approval of an IMFsupported program. This paper examines whether such prior actions can signal a willingness to implement reforms, especially when the member's track record is weak. We find some support for this signaling...
Persistent link: https://www.econbiz.de/10005768821
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How Does Conditional Aid (Not) Work?
Ramcharan, Rodney - International Monetary Fund (IMF) - 2002
Does policy conditionality worsen domestic welfare, as governments are forced to attempt unpopular reforms resulting in damaging protests, or does conditionality help implement reforms that otherwise would have been impossible? This paper analyzes these questions. Using a game-theoretic...
Persistent link: https://www.econbiz.de/10005768864
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Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable?
Moon, Soojin; Bulir, Ales - International Monetary Fund (IMF) - 2003
This paper investigates fiscal developments in 112 countries during the 1990s. It finds that, while the overall fiscal balance improved in most of them, the composition of this improvement differed. In nonprogram countries, revenues increased modestly and expenditure declined sharply, while in...
Persistent link: https://www.econbiz.de/10005263802
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Five Years After; European Union Membership and Macro-Financial Stability in the New Member States
Cihák, Martin; Fonteyne, Wim - International Monetary Fund (IMF) - 2009
The proximity of the European Union, the prospect of membership, and actual entry by the New Member States (NMS) increased economic and financial integration in the region, leading to fast economic growth based on sizeable capital inflows. EU membership helped in developing sound macroeconomic...
Persistent link: https://www.econbiz.de/10005825949
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Czech Koruna and Polish Zloty; Spot and Currency Option Volatility Patterns
Morales, Armando Méndez - International Monetary Fund (IMF) - 2001
Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: Lower volatility is observed for the koruna against the euro relative to the U.S. dollar, while...
Persistent link: https://www.econbiz.de/10005826189
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The Second Transition; Eastern Europe in Perspective
Leigh, Daniel; Fabrizio, Stefania; Mody, Ashoka - International Monetary Fund (IMF) - 2009
The countries of Eastern Europe achieved two remarkable transitions in the short period of the last two decades: from plan to market and, then, in the run-up to and entry into the European Union, they rode a wave of global trade and financial market integration. Focusing on the second...
Persistent link: https://www.econbiz.de/10005826579
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Macroprudential Policies and Housing Price; A New Database and Empirical Evidence for Central, Eastern, and Southeastern Europe
Vandenbussche, Jerome; Vogel, Ursula; Detragiache, Enrica - International Monetary Fund (IMF) - 2012
Several countries in Central, Eastern and Southeastern Europe used a rich set of prudential instruments in response to last decade’s credit and housing boom and bust cycles. We collect detailed information on these policy measures in a comprehensive database covering 16 countries at a...
Persistent link: https://www.econbiz.de/10011242198
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Foreign Banks and the Vienna Initiative; Turning Sinners Into Saints?
Haas, Ralph De; Korniyenko, Yevgeniya; Pivovarsky, Alexander - International Monetary Fund (IMF) - 2012
We use data on 1,294 banks in Central and Eastern Europe to analyze how bank ownership and creditor coordination in the form of the Vienna Initiative affected credit growth during the 2008–09 crisis. As part of the Vienna Initiative western European banks signed country-specific...
Persistent link: https://www.econbiz.de/10011242213
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Non-Performing Loans in CESEE; Determinants and Impact on Macroeconomic Performance
Klein, Nir - International Monetary Fund (IMF) - 2013
The paper investigates the non-performing loans (NPLs) in Central, Eastern and South-Eastern Europe (CESEE) in the period of 1998–2011. The paper finds that the level of NPLs can be attributed to both macroeconomic conditions and banks’ specific factors, though the latter set of factors was...
Persistent link: https://www.econbiz.de/10011242324