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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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Retarding Short-Term Capital Inflows Through withholding Tax
Zee, Howell H. - International Monetary Fund (IMF) - 2000
This paper proposes a price-based measure to mitigate the destabilizing impact of the volatility of global capital …
Persistent link: https://www.econbiz.de/10005263778
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Financial Globalization; A Reappraisal
Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006
macroeconomic effects of financial globalization, in terms of both growth and volatility. Overall, our critical reading of the …The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support widely cited …
Persistent link: https://www.econbiz.de/10005263828
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Investors’ Risk Appetite and Global Financial Market Conditions
González-Hermosillo, Brenda - International Monetary Fund (IMF) - 2008
volatility risks), contagion effects, and idiosyncratic factors. While idiosyncratic factors explain a large amount of the …
Persistent link: https://www.econbiz.de/10005769174
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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 study the determinants of the allocation and composition of flows across countries, as well as channels through which private capital flows could affect growth. In our sample,...
Persistent link: https://www.econbiz.de/10008528679
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Effects of Financial Globalization on Developing Countries; Some Empirical Evidence
Kose, M. Ayhan; Rogoff, Kenneth; Prasad, Eswar; Wei, … - International Monetary Fund (IMF) - 2003
volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be … in affecting developing countries’ experiences with financial globalization. …
Persistent link: https://www.econbiz.de/10005590880
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Modern Banking and OTC Derivatives Markets; The Transformation of Global Finance and its Implications for Systemic Risk
Drees, Burkhard; Schinasi, Garry J.; Kramer, Charles … - International Monetary Fund (IMF) - 2001
Persistent link: https://www.econbiz.de/10005590943
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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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Reaping the Benefits of Financial Globalization
Dell'Ariccia, Giovanni; Mauro, Paolo; Faria, André; … - International Monetary Fund (IMF) - 2008
principle, financial globalization should enhance international risk sharing, reduce macroeconomic volatility, and foster …Financial globalization has increased dramatically over the past three decades, particularly for advanced economies …
Persistent link: https://www.econbiz.de/10010790496
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Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows
Binici, Mahir; Hutchison, Michael M.; Schindler, Martin - International Monetary Fund (IMF) - 2009
How effective are capital account restrictions? We provide new answers based on a novel panel data set of capital controls, disaggregated by asset class and by inflows/outflows, covering 74 countries during 1995-2005. We find the estimated effects of capital controls to vary markedly across the...
Persistent link: https://www.econbiz.de/10008559277