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Financial Frictions, Investment, and Institutions
Yafeh, Yishay - 2010
Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii)...
Persistent link: https://www.econbiz.de/10014397491
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How to gain the most from structural conditionality of IMF-supported programs
Andritzky, Jochen; Munkacsi, Zsuzsa; Wang, Ke - 2021
Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF. Taking stock of program conditions and their implementation, this paper finds that conditionality focuses on fiscal, monetary and financial issues-areas where IMF...
Persistent link: https://www.econbiz.de/10012613388
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The macroeconomic effects of labor and product market reforms in Morocco
Sarr, Babacar; Benlamine, Mokhtar; Munkacsi, Zsuzsa - 2019
This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If...
Persistent link: https://www.econbiz.de/10012122485
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Democracy and Reforms : Evidence From a New Dataset
Spilimbergo, Antonio - 2010
Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product...
Persistent link: https://www.econbiz.de/10014402711
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Market Liberalization Policies in a Reforming Socialist Economy
Dinopoulos, Elias - 1991
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395972
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Rebalancing in China : progress and prospects
Zhang, Longmei - 2016
China is transitioning to a greener, more inclusive, more consumer and service based, and less credit-driven economy …
Persistent link: https://www.econbiz.de/10011715356
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Australia's linkages with China : prospects and ramifications of China's economic transition
Karam, Philippe; Muir, Dirk - 2018
China and Australia have increasingly strong links, especially through trade. These are driven by demand from China for … Australian commodities (coal and iron ore) and services (tourism and education). These links are influenced by China's transition …, three risks (both upside and downside) to China during this transition process are considered, focusing on their spillovers …
Persistent link: https://www.econbiz.de/10011866353
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Big Bang Versus Gradualism in Economic Reforms : An Intertemporal Analysis with An Application to China
Feltenstein, Andrew - 2001
recommendations for China. The simulations highlight the importance of the criteria being used for determining speed and sequencing …
Persistent link: https://www.econbiz.de/10014401153
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Economic Reform and the Demand for Money in China
International Monetary Fund - 1990
Error correction models of the demand for a range of monetary aggregates in China are estimated with quarterly data for … indirect evidence against the existence of substantial repressed inflation in China during the sample period. This is a working …
Persistent link: https://www.econbiz.de/10014396177
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Macroeconomic Adjustment and Reform in Planned Economies
International Monetary Fund - 1990
This paper examines the relationship between macroeconomic stabilization and market-oriented reform in planned economies. It emphasizes that market-oriented reform should enhance the likelihood that adjustment to exogenous disturbances will involve genuine adjustment in the sense of actually...
Persistent link: https://www.econbiz.de/10014396471