We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equal and the actual amount of the flow is determined by the ‘short side’ of the...

This paper assesses the status of financial development in Emerging Europe, analyzes the factors that have shaped it, and discusses policy priorities. Financial development has progressed to varying degrees across the region. Macroeconomic stability and institutional quality have been important...

For a sample of 83 financial institutions during 2003–2011, this paper attempts to answer three questions: first, what is the evolution of banks’ stock price exposure to country-level and global risk factors as approximated by equity indices; second, which bank-specific characteristics...

Dieser Bericht stellt ausgewählte Ergebnisse der Thünen-Baseline 2013 - 2023 sowie die zugrunde liegenden Annahmen dar. Für die Erstellung der Thünen-Baseline wurden eine Reihe von Modellen im Verbund eingesetzt: das allgemeine Gleichgewichtsmodell MAGNET, das partielle Gleichgewichtsmodell...

This paper analyzes co-movements and discusses possible market integration between aggregate food and stock markets in the period of 1990 to 2012. Correlations, price return distributions, cointegration, and Granger-causalities are tested in subsamples on monthly FAO Food Price Index and MSCI...

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...