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Financial Integration and Risk-Adjusted Growth Opportunities
Ivaschenko, Iryna V.; Nicoló, Gianni De - International Monetary Fund (IMF) - 2008
improvements in the liquidity of equity markets. …
Persistent link: https://www.econbiz.de/10005263723
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Exploring the Dynamics of Global Liquidity
Sally F. (Sally Fangnan) Chen; Liu, Philip; Maechler, … - International Monetary Fund (IMF) - 2012
This paper explores the concept of global liquidity, its measurement and macro-financial importance. We construct two … sets of indicators for global liquidity: a quantity series distinguishing between core and noncore liabilities of financial … between shocks to the supply and demand for global liquidity, and isolate their impact on the economy. Our results confirm …
Persistent link: https://www.econbiz.de/10010790397
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The Development of Local Debt Markets in Asia
Goswami, Mangal; Sharma, Sunil - International Monetary Fund (IMF) - 2011
development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and …
Persistent link: https://www.econbiz.de/10009151210
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Challenges to Monetary Policy From Financial Globalization; The Case of India
Prasad, A.; Kramer, Charles Frederick; Poirson, Hélène - International Monetary Fund (IMF) - 2008
The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with the recent surge in capital inflows. This paper documents the degree to which India has become financially globalized, both in absolute terms and relative to emerging and...
Persistent link: https://www.econbiz.de/10005826246
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Financial Globalization and Monetary Policy
Devereux, Michael B.; Sutherland, Alan - International Monetary Fund (IMF) - 2007
What does financial globalization imply for the design of monetary policy? Does the case for price stability change in an environment of large cross country gross asset holdings?. This paper is concerned with the effects of monetary policy under endogenous international portfolio choice and...
Persistent link: https://www.econbiz.de/10005768983
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Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area
Quint, Dominic; Rabanal, Pau - International Monetary Fund (IMF) - 2013
In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential policy can play a role. We find that the introduction of a...
Persistent link: https://www.econbiz.de/10010790358
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What Drives China's Interbank Market?
International Monetary Fund (IMF); International … - 2009
Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and regulated interest rates (lending and deposit rates), reflecting China's gradual process of interest rate liberalization. We argue, using a theoretical model and empirical...
Persistent link: https://www.econbiz.de/10008528670
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The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies
Rafiq, Sohrab - International Monetary Fund (IMF) - 2015
This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have been small. The relative insulation of emerging Asia from the global financial...
Persistent link: https://www.econbiz.de/10011163125
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Financial Integration, Growth, and Volatility
Epaulard, Anne; Pommeret, Aude - International Monetary Fund (IMF) - 2005
The aim of this paper is to evaluate the welfare gains from financial integration for developing and emerging market economies. To do so, we build a stochastic endogenous growth model for a small open economy that can (i) borrow from the rest of the world, (ii) invest in foreign assets, and...
Persistent link: https://www.econbiz.de/10005248157
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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 the risks, and foster an environment conducive to increased domestic investment and higher sustained growth. This paper highlights the progress that African countries have made in...
Persistent link: https://www.econbiz.de/10005248182