The 2006 Article IV Consultation on San Marino explains financial sector development and stability. A wide-ranging reform of the regulatory framework and supervision is under way to modernize the financial sector and make it conform to international standards. Executive Directors encouraged to...

This 2006 Article IV Consultation highlights that India’s economy has continued to grow above trend, with an average growth of 8 percent in the last three years. Growth is broad based, with robust consumption, investment, and exports. With manufacturing expanding at more than 10 percent...

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...

The German economy has made major strides, helped by wide-ranging reforms. Greater transparency and stronger incentives for prudent action will support crisis prevention and management. The immediate priorities are preserving the integrity of the financial system and maintaining economic...

The Republic of Korea’s 2008 Article IV Consultation highlights that Korea’s business cycle is turning downward while inflation pressures have increased. Risks are mainly external and on the downside, but a volatile domestic political environment also clouds the outlook. Inflation...

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...

This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets,...

Despite Zambia's continued battle with poverty, the authorities have maintained sustained growth and macroeconomic stability during the past decade. 2011 showed robust GDP growth supported by agricultural activities and strong bank credit. But the Executive Board expressed concern over the risks...