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Effects of Capital Flow Liberalization; What is the Evidence from Recent Experiences of Emerging Market Economies?
Sedik, Tahsin Saadi; Sun, Tao - International Monetary Fund (IMF) - 2012
application of these findings, the paper explores the possible effects of liberalization on China by applying the coefficients of … explanatory variables to the corresponding variables of China in 2012–16. …
Persistent link: https://www.econbiz.de/10011242176
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Growth Surprises and Synchronized Slowdowns in Emerging Markets––An Empirical Investigation
Fayad, Ghada; Perrelli, Roberto - International Monetary Fund (IMF) - 2014
Output growth has slowed in several emerging markets since 2011—a remarkable feature for a non-crisis period in EMs. Such synchronized slowdowns were largely unanticipated by scholars and forecasters alike. In this paper we attempt to shed light on the main drivers of growth surprises and...
Persistent link: https://www.econbiz.de/10011142037
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Trade Integration and Business Cycle Synchronization: A Reappraisal with Focus on Asia
Duval, Romain A; Cheng, Kevin C.; Oh, Kum Hwa; Saraf, Richa - International Monetary Fund (IMF) - 2014
shocks in China. …
Persistent link: https://www.econbiz.de/10011142047
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Potential Growth in Emerging Asia
Anand, Rahul; Cheng, Kevin C.; Rehman, Sidra; Zhang, Longmei - International Monetary Fund (IMF) - 2014
estimates potential growth for China, India, and five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and … Vietnam) during 1993–2013. The main findings include: (i) both China and India have recently exhibited a slowdown in …;(iii) over the longer term, demographic factors will be much more supportive in India and some ASEAN economies than in China …
Persistent link: https://www.econbiz.de/10011142066
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Monetary Policy Coordination and the Role of Central Banks
Mohan, Rakesh; Kapur, Muneesh - International Monetary Fund (IMF) - 2014
The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from...
Persistent link: https://www.econbiz.de/10010790334
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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
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Spillovers from United States Monetary Policy on Emerging Markets: Different This Time?
Chen, Jiaqian; Griffoli, Tommaso Mancini; Sahay, Ratna - International Monetary Fund (IMF) - 2014
The impact of monetary policy in large advanced countries on emerging market economies—dubbed spillovers—is hotly debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset prices and capital flows were significant,...
Persistent link: https://www.econbiz.de/10011123869
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Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies
Cesa-Bianchi, Ambrogio; Cespedes, Luis Felipe; Rebucci, … - International Monetary Fund (IMF) - 2015
In this paper we first compare house price cycles in advanced and emerging economies using a new quarterly house price data set covering the period 1990-2012. We find that house prices in emerging economies grow faster, are more volatile, less persistent and less synchronized across countries...
Persistent link: https://www.econbiz.de/10011163121
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Investment in Emerging Markets We Are Not in Kansas Anymore…Or Are We?
Magud, Nicolas E.; Sosa, Sebastian - International Monetary Fund (IMF) - 2015
We document that (i) although private investment growth in emerging markets has decelerated in recent years, it came down from cyclical highs and remains close to pre-crisis trends; and (ii) investment-to-output ratios generally remain close to or above historical averages. We show that...
Persistent link: https://www.econbiz.de/10011242322
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Global Monetary Tightening: Emerging Markets Debt Dynamics and Fiscal Crises
Escolano, Julio; Kolerus, Christina; Ngouana, Constant … - International Monetary Fund (IMF) - 2014
This paper finds that tightening global financial conditions can worsen emerging economies’ public debt dynamics through an increasing interest rate-growth differential, particularly if coupled with high global risk aversion. Latin America and emerging Europe are the regions most likely...
Persistent link: https://www.econbiz.de/10011142034