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What determines macroeconomic volatility? A cross-section and panel data study
Spiliopoulos, Leonidas - EconWPA - 2005
This paper examines the determinants of the volatility in growth rates, seeking to expand on a very limited literature … which has focused almost exclusively on financial determinants of volatility. An analysis of 41 variables and their effects … on growth volatility yields some surprising results: the relationship between financial sophistication and volatility is …
Persistent link: https://www.econbiz.de/10005126343
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The impact of exchange rate volatility on trade integration among North and South Mediterranean countries
Sabri, Nidal Rachid; Peeters, Marga; Abulaben, Diama K. - Volkswirtschaftliche Fakultät, … - 2012
The volatility of exchange rates leads to a reduction of international trade volumes, especially in emerging economies … flows, which comes timely after the increased volatility between the Euro and Arab national currencies during the last few … exchange rate volatility on trade using monthly time series for the last ten years from 2000 up to 2011. By means of a Vector …
Persistent link: https://www.econbiz.de/10011110154
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Capital Account Liberalization and Financial Sector Stability
International Monetary Fund (IMF); International … - 2002
Persistent link: https://www.econbiz.de/10005824821
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Financial Sector Reforms and Prospects for Financial Integration in Maghreb Countries
Sole, Juan; Sensenbrenner, Gabriel; Tahari, Amor; … - International Monetary Fund (IMF) - 2007
A healthy and dynamic financial sector is essential to achieving high and sustainable economic growth in the Maghreb region-Algeria, Libya, Mauritania, Morocco, and Tunisia. Financial integration within the Maghreb region will help deepen financial markets, increase their efficiency, and enhance...
Persistent link: https://www.econbiz.de/10005825882
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Issues in Managing and Sequencing Financial Sector Reforms Lessons From Experiences in Five Developing Countries
International Monetary Fund (IMF); International … - 1992
A review of the experience of five developing countries in reforming their financial systems illustrates the benefits and risks, and provides lessons on the factors which contribute to successful financial sector reforms. Financial sector reforms need to be supported by active monetary policy,...
Persistent link: https://www.econbiz.de/10005825950
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Short-Run Pain, Long-Run Gain; The Effects of Financial Liberalization
Schmukler, Sergio L.; Kaminsky, Graciela Laura - International Monetary Fund (IMF) - 2003
We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...
Persistent link: https://www.econbiz.de/10005826221
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The Indonesian Financial System; Its Contribution to Economic Performance, and Key Policy Issues
Montogomery, Jonh D. - International Monetary Fund (IMF) - 1997
The structure of the financial system in Indonesia is examined through the analytical lens of the system’s contribution to the growth, stability, and efficiency of the Indonesian economy. The focus is on the banking system and securities markets, which are the primary mechanisms for mobilizing...
Persistent link: https://www.econbiz.de/10005826609
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Quality of Financial Policies and Financial System Stress
Das, Udaibir S.; Yossifov, Plamen; Podpiera, Richard; … - International Monetary Fund (IMF) - 2005
In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of...
Persistent link: https://www.econbiz.de/10005599559
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Trade Policy in Financial Services
McDonald, Bradley J.; Bannister, Geoffrey J.; Tamirisa, … - International Monetary Fund (IMF) - 2000
This paper reviews the economics of trade policy in financial services, highlighting differences between trade across borders and through commercial presence. Trade liberalization could complement other financial reforms by enhancing the efficiency, quality, and variety of financial services and...
Persistent link: https://www.econbiz.de/10005599696
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The Lender of Last Resort in the European Single Financial Market
Teixeira, Pedro Gustavo; Schinasi, Garry J. - International Monetary Fund (IMF) - 2006
This paper examines challenges in effectively implementing the lender-of-last-resort function in the EU single financial market. Briefly highlighted are features of the EU financial landscape that could increase EU systemic financial risk. Briefly described are the complexities of the EU's...
Persistent link: https://www.econbiz.de/10005605041