Similar Search Results

Procyclical Behavior of Institutional Investors During the Recent Financial Crisis; Causes, Impacts, and Challenges

Papaioannou, Michael G; Park, Joonkyu; Pihlman, Jukka; … - International Monetary Fund (IMF) - 2013

This paper (i) provides evidence on the procyclical investment behavior of major institutional investors during the … implications of procyclical behavior; and (iv) proposes a framework for sound investment practices for long-term investors. Such … procyclical investment behavior is understandable and may be considered rational from an individual institution’s perspective …

Persistent link: https://www.econbiz.de/10011242388

Real Money Investors and Sovereign Bond Yields

Jaramillo, Laura; Zhang, Yuanyan Sophia - International Monetary Fund (IMF) - 2013

Experience from the global financial crisis suggests that countriesâ€™ borrowing costs are not solely determined by macro and fiscal fundamentals. Factors such as ownership structures of government securities, among others, also play a significant role. This paper investigates the effect of...

Persistent link: https://www.econbiz.de/10011142157

Ghana; 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Ghana

International Monetary Fund (IMF); International … - 2007

The 2007 Article IV Consultation reports on Ghanaâ€™s recent economic and policy development. Public Financial Management (PFM) has been strengthened through improvements in fiscal reporting and deployment of the new computerized payroll management system. Executive Directors commended the...

Persistent link: https://www.econbiz.de/10011244661

Bulgaria; 2007 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bulgaria

International Monetary Fund (IMF); International … - 2007

by massive capital inflows, particularly foreign direct investment inflows, the current account deficit could reach a …

Persistent link: https://www.econbiz.de/10011244823

Kenya; Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion;...

International Monetary Fund (IMF); International … - 2009

Kenyaâ€™s strong economic performance in recent years with real GDP growth of 6 percent on average over 2004â€“07 has been stalled by a series of exogenous but temporary shocks that hit the economy in 2008. The staff report highlights Kenya's request for Disbursement under the...

Persistent link: https://www.econbiz.de/10011244825

Republic of Poland; Arrangement Under the Flexible Credit Line: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Dire...

International Monetary Fund (IMF); International … - 2009

This paper focuses on an arrangement under the Flexible Credit Line (FCL) for the Republic of Poland. Polandâ€™s macroeconomic performance has been very strong. The authorities believe that access under an FCL arrangement in the amount of SDR 13.69 billion could help maintain market access...

Persistent link: https://www.econbiz.de/10011245204

Iceland; Fifth Review Under the Stand-By Arrangement, and Request for Modification of Performance Criteria and Rephasing of Accessâ€”Staff Report; Informational Annex; Staff Statem...

International Monetary Fund (IMF); International … - 2011

The paper describes the impressive economic progress made by Iceland in implementing program policies, stabilizing the exchange rate, and bringing inflation down, under a program supported by a Stand-By Arrangement (SBA). The authorities noted that key challenges are to reduce the high level of...

Persistent link: https://www.econbiz.de/10011245508

Capital Markets and Financial Intermediation in The Baltics

Sheridan, Niamh; Schipke, Alfred; George, Susan Mary; … - International Monetary Fund (IMF) - 2004

In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the...

Persistent link: https://www.econbiz.de/10005248055

Sustaining Fixed Exchange Rates; A Model with Debt and Institutions

Pitt, Alexander - International Monetary Fund (IMF) - 2001

Fixed exchange rate regimes have come into disrepute, as their defense has become all but impossible. Yet, while a determined attack on a currency cannot be prevented or, ultimately, withstood, policies can reduce the vulnerability of a country to such attacks. The paper develops an analytical...

Persistent link: https://www.econbiz.de/10005263659

On the Determinants of First-Time Sovereign Bond Issues

Grigorian, David A. - International Monetary Fund (IMF) - 2003

In recent years, the number of countries which have borrowed in international capital markets by issuing sovereign bonds has increased substantially. For these countries, capital market access meant a de facto acknowledgement of their policy successes and improvements in their creditworthiness...

Persistent link: https://www.econbiz.de/10005263917