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Dollarization of Liabilities; Beyond the Usual Suspects
Barajas, Adolfo; Morales, Armando Méndez - International Monetary Fund (IMF) - 2003
Dollarization of liabilities (DL) has emerged as a key factor in explaining the vulnerability of emerging markets to financial and currency crises. "Usual suspects" of causing DL comprise "fatalistic" determinants such as a long history of unsound macroeconomic policies and development and...
Persistent link: https://www.econbiz.de/10005599618
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Competition in the Financial Sector; Overview of Competition Policies
Claessens, Stijn - International Monetary Fund (IMF) - 2009
As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests …, however, that unfettered competition is not first best given the special features of finance. I review these analytics and … describe how to assess the degree of competition in markets for financial services. Existing research shows that the degree of …
Persistent link: https://www.econbiz.de/10005826668
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Privatization and Public Enterprises
Hemming, Richard; Mansoor, Ali M. - International Monetary Fund (IMF) - 1998
Persistent link: https://www.econbiz.de/10005590918
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Pricing Debit Card Payment Services; An IO Approach
Tieman, Alexander F.; Bolt, Wilko - International Monetary Fund (IMF) - 2003
This paper presents a theoretical framework for analyzing pricing structures in debit card schemes featuring cardholders, retailers, their respective banks, and a network routing switch. The network routing switch controls the electronic debit card network and is jointly owned by the banks. In...
Persistent link: https://www.econbiz.de/10005264130
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The Reform of Italian Cooperative Banks; Discussion of Proposals
Gutierrez, Eva - International Monetary Fund (IMF) - 2008
This paper argues that the governance framework of cooperative banks may hamper raising capital, particularly at time of distress, complicating the bank resolution process ?specially for large banks?and may not provide adequate incentives to control banks' management. Reforms should preserve the...
Persistent link: https://www.econbiz.de/10005599290
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Australia; Addressing Systemic Risk Through Higher Loss Absorbency—Technical Note
International Monetary Fund (IMF); International … - 2012
Australia’s four largest banks can be considered domestically systemic. They make up the lion’s share of the banking system, use similar business models, and are interconnected. The top four banks are relatively similar in terms of systemic importance, partly reflecting the...
Persistent link: https://www.econbiz.de/10011245198
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Trade Policy with Heterogeneous Traders; Do Quotas Get a Bum Rap?
Krishna, Kala; Tan, Ling Hui - International Monetary Fund (IMF) - 2007
This paper considers the effects of trade policy-tariffs and quotas-when importing is done by competitive traders who are identical ex ante but differ ex post. We show that the standard equivalence results no longer hold and the conventional ranking of tariffs and quotas is turned on its head:...
Persistent link: https://www.econbiz.de/10005248181
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Globalization Drives Strategic Product Switching
Badia, Marialuz Moreno; Slootmaekers, Veerle; Beveren, … - International Monetary Fund (IMF) - 2008
Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm …
Persistent link: https://www.econbiz.de/10005263707
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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 foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest for defense against Sudden Stops. We conduct a quantitative assessment of this...
Persistent link: https://www.econbiz.de/10005263736
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Does Sequencing of Privatization Matter in Reforming Planned Economies?
Husain, Aasim M.; Sahay, Ratna - International Monetary Fund (IMF) - 1992
Although a centerpiece of the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once and policymakers inevitably face the choice of privatizing some sectors before others. This paper analyzes the allocative efficiency implications of alternate...
Persistent link: https://www.econbiz.de/10005264168