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Microfinance in Africa; Experience and Lessons From Selected African Countries
Blavy, Rodolphe; Basu, Anupam; Yülek, Murat  - International Monetary Fund (IMF) - 2004
Based on the experience of selected countries, this paper offers a critical presentation of the development of the microfinance sector in Africa. The paper supports the view that microfinance institutions, especially those engaged in full financial intermediation, complement effectively the...
Persistent link: https://www.econbiz.de/10005263661
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The Savings Trap and Economic Take-Off
Ghosh, Atish R.; Asilis, Carlos M. - International Monetary Fund (IMF) - 1992
determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each … period, result in either of two stable equilibria for the savings rate. At the “good” equilibrium, savings and growth are … individual’s belief about the savings behavior of other agents in the economy. The model implies that fiscal policy or public …
Persistent link: https://www.econbiz.de/10005263787
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Growth, Productivity, and the Rate of Returnon Capital
Chadha, Bankim; Adams, Charles - International Monetary Fund (IMF) - 1992
This paper examines the ability of alternative classes of growth models to explain the historical experience of the U.S. economy. The potential returns to the U.S. from raising its investment rate in terms of both the level and growth rate of future output are then quantified. The long-run...
Persistent link: https://www.econbiz.de/10005263880
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Mortgage Market Development, Savings, and Growth
Li, Xiaowei - International Monetary Fund (IMF) - 2001
Jappelli and Pagano (1994) argues that tightening the borrowing constraints in the mortgage markets promotes savings … savings and growth rates to fall. Therefore, for countries with scarce mortgage availability like those in the Middle East …, expanding the mortgage markets to some extent is conducive to savings and growth. …
Persistent link: https://www.econbiz.de/10005263983
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Perspectiveson Low Global Interest Rates
Catão, Luis; Mackenzie, G. A. - International Monetary Fund (IMF) - 2006
This paper looks at the dramatic decline in global real interest rates in recent years from a historical perspective and examines the various factors that may account for this trend. We show that current levels of real interest rates on long-term bonds in advanced economies are not low by...
Persistent link: https://www.econbiz.de/10005264143
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Economic Implications of China's Demographics in the 21st Century
Cheng, Kevin C. - International Monetary Fund (IMF) - 2003
This study assesses the economic implications of China's changing population in the 21st century using a numerical general equilibrium model. The simulations show that lower fertility rates yield lower saving rates. Since lower fertility rates reduce the future supply of labor, capital will...
Persistent link: https://www.econbiz.de/10005825867
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An Estimated Small Open Economy Model of the Financial Accelerator
Justiniano, Alejandro; Elekdag, Selim; Tchakarov, Ivan - International Monetary Fund (IMF) - 2005
This paper develops a small open economy model where entrepreneurs partially finance investment using foreign currency denominated debt subject to a risk premium above and beyond international interest rates. We use Bayesian estimation techniques to evaluate the importance of balance sheet...
Persistent link: https://www.econbiz.de/10005826005
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The Global Impact of Demographic Change
Callen, Tim; McKibbin, Warwick J.; Batini, Nicoletta - International Monetary Fund (IMF) - 2006
The world is in the midst of a major demographic transition. This paper examines the implications of such transition over the next 80 years for Japan, the United States, other industrial countries, and the developing regions of the world using a dynamic intertemporal general equilibrium...
Persistent link: https://www.econbiz.de/10005826038
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Why isn't South Africa Growing Faster? a Comparative Approach
Eyraud, Luc - International Monetary Fund (IMF) - 2009
The purpose of this paper is to examine factors that have constrained South Africa's growth since the end of apartheid by comparing its GDP components and its saving and investment performance with those of 10 faster-growing countries. The study finds that sluggish investment has undermined...
Persistent link: https://www.econbiz.de/10005826291
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Productivity Shocks, Learning, and Open Economy Dynamics
Miniane, Jacques - International Monetary Fund (IMF) - 2004
shock is sluggish and peaks with delay; (ii) permanent shocks generate positive rather than negative savings on impact; and …
Persistent link: https://www.econbiz.de/10005826568