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The Transmission of Financial Stress From Advanced to Emerging Economies

Danninger, Stephan; Tytell, Irina; Balakrishnan, Ravi; … - International Monetary Fund (IMF) - 2009

This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system's ability to intermediate may be impaired. Previous financial...

Persistent link: https://www.econbiz.de/10008528685

Effectiveness of Capital Outflow Restrictions

Saborowski, Christian; Sanya, Sarah; Weisfeld, Hans; … - International Monetary Fund (IMF) - 2014

This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Specifically, it examines whether a tightening of outflow restrictions helps reduce...

Persistent link: https://www.econbiz.de/10010790319

Information Rigidities in Economic Growth Forecasts; Evidence from a Large International Panel

Dovern, Jonas; Fritsche, Ulrich; Loungani, Prakash; … - International Monetary Fund (IMF) - 2013

We examine the behavior of forecasts for real GDP growth using a large panel of individual forecasts from 30 advanced and emerging economies during 1989â€“2010. Our main findings are as follows. First, our evidence does not support the validity of the sticky information model (Mankiw and...

Persistent link: https://www.econbiz.de/10011242185

What is Behind Latin Americaâ€™s Declining Income Inequality?

Tsounta, Evridiki; Osueke, Anayochukwu - International Monetary Fund (IMF) - 2014

Income inequality in Latin America has declined during the last decade, in contrast to the experience in many other emerging and developed regions. However, Latin America remains the most unequal region in the world. This study documents the declining trend in income inequality in Latin America...

Persistent link: https://www.econbiz.de/10011142048

Global Risks and Collective Action Failures: What Can the International Community Do?

Otker-Robe, Inci - International Monetary Fund (IMF) - 2014

Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...

Persistent link: https://www.econbiz.de/10010959476

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

The New International Financial Architecture and Africa

Nsouli, Saleh M.; Gall, Françoise Le - International Monetary Fund (IMF) - 2001

The new international financial architecture can help African countries benefit from globalization, while minimizing …

Persistent link: https://www.econbiz.de/10005248182

Does the World Need a Universal Financial Institution?

Boughton, James M. - International Monetary Fund (IMF) - 2005

All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its...

Persistent link: https://www.econbiz.de/10005248315

Financial Integration and Risk-Adjusted Growth Opportunities

Ivaschenko, Iryna V.; Nicoló, Gianni De - International Monetary Fund (IMF) - 2008

integration and improved real prospects are mutually reinforcing. Third, financial integration predicts globalization but the …

Persistent link: https://www.econbiz.de/10005263723

Precautionary Demand for Foreign Assets in Sudden Stop Economies; An Assessment of the New Merchantilism

Mendoza, Enrique G.; Durdu, Ceyhun Bora; Terrones, Marco - International Monetary Fund (IMF) - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in … assets via business cycle volatility, financial globalization, and endogenous Sudden Stops. Our results show that financial … globalization and Sudden Stop risk are plausible explanations of the surge in reserves but cyclical volatility, which has declined …

Persistent link: https://www.econbiz.de/10005263736