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Renminbi Usage in Cross-Border Payments : Regional Patterns and the Role of Swaps Lines and Offshore Clearing Banks
Perez Saiz, Hector; Zhang, Longmei - 2023
The paper examines the usage of the Renminbi (RMB) as an international payment currency. Globally, the use of RMB remains small, accounting for 2 percent of total cross-border transactions. Using country-level transaction data from Swift** for 2010–21, we find significant regional variations...
Persistent link: https://www.econbiz.de/10014355350
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Drivers of Cross-Border Banking in Sub-Saharan Africa
Mathieu, Paul - 2019
Using data collected from pan-African banks' (PABs), balance sheets and other sources (Orbis, Fitch), this study identifies some key patterns of cross-border investment in bank subsidiaries by key banking groups in sub-Saharan Africa (SSA) and discusses some of the determinants of this...
Persistent link: https://www.econbiz.de/10012865119
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Evolution of Bilateral Swap Lines
Tokuoka, Kiichi; Rao, Yudong; Perks, Michael; Shin, Jongsoon - 2022
This paper makes contributions to the study of bilateral swap lines (BSLs). First, this paper fills a BSL information gap by constructing a comprehensive database of BSLs based on publicly available information, including after the onset of the COVID-19 pandemic. Second, the paper provides the...
Persistent link: https://www.econbiz.de/10013305630
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Determinants of Pre-Pandemic Demand for the IMF's Concessional Financing
Hills, Timothy; Nguyen, Huy Le; Sab, Randa - 2021
This study focuses on identifying the main factors that influenced country-specific and aggregate demand for IMF … concessional financing between 1986 and 2018 and makes within-period and out-of-period forecasts. We find that the external debt …
Persistent link: https://www.econbiz.de/10013243069
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Structural Reforms and External Rebalancing
Culiuc, Alexander - 2017
Empirical research on structural reforms has focused primarily on their impact on growth and productivity. Yet an often-invoked rationale for structural reforms is their impact on external adjustment. This paper finds little evidence that structural reforms improve the current account in the...
Persistent link: https://www.econbiz.de/10012948521
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Do IMF-Supported Programs Catalyze Donor Assistance to Low-Income Countries?
Bal-Gunduz, Yasemin - 2014
This study explores whether IMF-supported programs in low-income countries (LICs) catalyze Official Development …
Persistent link: https://www.econbiz.de/10013040408
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Development of the Renminbi Market in Hong Kong SAR : Assessing Onshore-Offshore Market Integration
Craig, R. - 2014
Offshore use of the renminbi expanded rapidly in Hong Kong SAR as China sought to develop an international role for its currency while maintaining capital controls. This prompts two questions addressed in this paper: How far advanced is renminbi internationalization? And, what role does Chinese...
Persistent link: https://www.econbiz.de/10013051918
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The Modern Hyperinflation Cycle : Some New Empirical Regularities
Saboin, Jose - 2019
Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this paper contribute to the literature of modern hyperinflations in that these cycles...
Persistent link: https://www.econbiz.de/10012895119
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Commodity Price Movements and Banking Crises
Eberhardt, Markus - 2018
We develop an empirical model to predict banking crises in a sample of 60 low-incomecountries (LICs) over the 1981-2015 period. Given the recent emergence of financial sectorstress associated with low commodity prices in several LICs, we assign price movements inprimary commodities a key role in...
Persistent link: https://www.econbiz.de/10012913883
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Does Lower Debt Buy Higher Growth? The Impact of Debt Relief Initiatives on Growth
Marcelino, Sandra - 2015
In 1996, the IMF and the World Bank introduced the Heavily Indebted Poor Countries Initiative — a comprehensive debt … relief program aimed at reducing the external debt burden of eligible countries to sustainable levels, provided they carry … analysis illustrates that it is hard to disentangle pure debt-relief effects from other concurrent factors …
Persistent link: https://www.econbiz.de/10013028675