Narrow search
Showing 1 - 10 of 657
Cover Image
Fiscal Rules and the Procyclicality of Fiscal Policy in the Developing World
Bova, Elva; Carcenac, Nathalie; Guerguil, Martine - International Monetary Fund (IMF) - 2014
This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy. We find that, since the early 2000s, developing countries outnumbered advanced economies as users of fiscal rules. Rules were adopted either...
Persistent link: https://www.econbiz.de/10011123821
Cover Image
Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets
Fund, International Monetary - 2009
markets are found to a¤ect both conditional returns and volatility, with the e¤ects on volatility being more pronounced and …This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility …
Persistent link: https://www.econbiz.de/10012677485
Cover Image
Global Volatility and Forex Returns in East Asia
Kalra, Sanjay - 2008
During 2001-07, increases in mature market volatility were associated with declines in forex returns for East Asian … increase in mature market equity volatility generated an exchange rate depreciation of up to ½ percent. This sensitivity rose …
Persistent link: https://www.econbiz.de/10012677655
Cover Image
Dollar Exchange Rate volatility and Productivity Growth in Emerging Markets: Evidence from Firm Level Data
Eklou, Kodjovi - 2023
This paper examines the impact of Dollar exchange rate volatility on firm productivity in Emerging Markets economies … volatility reduces firm productivity growth. Exploring channels, its finds that the results are driven by countries with low … impact on firm productivty. Further, exploiting firm level data, the paper shows that dollar exchange rate volatility …
Persistent link: https://www.econbiz.de/10015059411
Cover Image
Monetization in low- and middle-income countries
McLoughlin, Cameron; Kinoshita, Noriaki - 2012
The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...
Persistent link: https://www.econbiz.de/10009618525
Cover Image
Financial intermediation costs in low-income countries : the role of regulatory, institutional, and macroeconomic factors
Poghosyan, Tigran - 2012
We analyze factors driving persistently higher financial intermediation costs in low-income countries (LICs) relative to emerging market (EMs) country comparators. Using the net interest margin as a proxy for financial intermediation costs at the bank level, we find that within LICs a...
Persistent link: https://www.econbiz.de/10009615784
Cover Image
How Does Financial Globalization Affect Risk Sharing? Patterns and Channels
Terrones, Marco; Kose, M. Ayhan; Prasad, Eswar - International Monetary Fund (IMF) - 2007
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...
Persistent link: https://www.econbiz.de/10005263747
Cover Image
Inflation Pressures and Monetary Policy Options in Emerging and Developing Countries-A Cross Regional Perspective
Ötker, Inci; Vávra, David; Vázquez, Francisco F.; … - International Monetary Fund (IMF) - 2009
This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of...
Persistent link: https://www.econbiz.de/10005264056
Cover Image
A Partial Race to the Bottom; Corporate Tax Developments in Emerging and Developing Economies
Park, Junhyung; Bedi, Sukhmani; Abbas, S. M. Ali; … - International Monetary Fund (IMF) - 2012
This paper assembles a new dataset on corporate income tax regimes in 50 emerging and developing economies over 1996-2007 and analyzes their impact on corporate tax revenues and domestic and foreign investment. It computes effective tax rates to take account of complicated special regimes, such...
Persistent link: https://www.econbiz.de/10009650619
Cover Image
Central Bank Credit to the Government; What Can We Learn From International Practices?
Matamoros-Indorf, Marcela; Sharma, Mrinalini; Townsend, … - International Monetary Fund (IMF) - 2012
Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government...
Persistent link: https://www.econbiz.de/10009650634