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powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance …
Persistent link: https://www.econbiz.de/10003901587
provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank …
Persistent link: https://www.econbiz.de/10011565481
The paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channelled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the distribution of foreign resources...
Persistent link: https://www.econbiz.de/10010279348
Target-Kredite im Eurosystem – Die Stellungnahmen der Bundesbank – Was sind Target-Salden? – Kreditverlagerung – Zur ökonomischen Interpretation der Kreditverlagerung – Target-Kredite, Leistungsbilanz und Kapitalverkehr – Fünf vor zwölf – Target-Salden in den USA – Anhang:...
Persistent link: https://www.econbiz.de/10011693126
powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance …
Persistent link: https://www.econbiz.de/10010279852
This paper presents VAR results on the recent economic history of the USand focuses on the dependence of US macro financial variables on international capital flows. Both gross and net flows are included in the analysis. The results indicate that cross-border funding has affected the build-up in...
Persistent link: https://www.econbiz.de/10010532072
This paper examines the relationship between low interests maintained by advanced economy central banks and credit booms in emerging economies. In a model with crossborder banking, low funding rates increase credit supply, but the initial shock is amplified through the risk-taking channel of...
Persistent link: https://www.econbiz.de/10013064175
We investigate global factors associated with bank capital flows. We formulate a model of the international banking system where global banks interact with local banks. The solution highlights the bank leverage cycle as the determinant of the transmission of financial conditions across borders...
Persistent link: https://www.econbiz.de/10013047533
A modern incarnation of the trilemma is essential for understanding the evolving global financial architecture, and for coming up with ways to mitigate financial fragility. The scarcity of policy instruments relative to the policy goals implies complex country-specific tradeoffs between the...
Persistent link: https://www.econbiz.de/10012925763
There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher … effects of IMF programmes may deter countries from asking for an IMF programme when they need one, a form of "IMF stigma". We … materialise and how past experience with adverse market reactions affects subsequent IMF programme participation. Our results …
Persistent link: https://www.econbiz.de/10011846238