On June 4-5, 2014, SUERF and Baffi Finlawmetrics jointly organised a Colloquium/Conference "Money, Regulation and Growth: Financing New Growth in Europe" at Bocconi University, Milan. The present SUERF Study includes a selection of papers based on the authors’ contributions to the Milan event....

This paper analyzes the unprecedented resilience of Latin American countries to the global financial crisis. It argues that sound macroeconomic conditions, which allowed an unusual monetary and fiscal expansion, exchange rate flexibility, a strong and well--regulated financial system, high level...

This staff report on People’s Republic of China 2013 Article IV Consultation highlights macroeconomic developments and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment to sustain activity is raising vulnerabilities. The...

This 2013 Article IV Consultation highlights that over the past year, Mexico has maintained macroeconomic policy continuity, while pursuing an ambitious agenda of growth-enhancing reforms. Reforms have already been approved to upgrade education, make labor markets more flexible, and foster...

The IMF staff report for the 2013 Article IV Consultation focuses on Malaysia’s economic developments and policies. The IMF report discusses that continued growth in domestic demand, especially investment, and a pickup in external demand should help maintain robust growth going forward...

Uruguay’s near-term outlook is positive, but with risks and policy challenges. Medium-term challenges include bolstering the economy’s resilience to shocks and fostering productivity growth. Inflation is a priority and monetary policy cannot fight inflation alone; concerted efforts...

This 2014 Article IV Consultation highlights that the GDP growth in Bhutan has slowed from about 10 percent in FY2011 (July 1–June 30) to 5 percent in FY2013. Slower growth reflects policy efforts to contain overheating pressures in the form of restrictions on credit for construction and...

The paper discusses the economic developments and policies in Sri Lanka in recent years. Substantial adjustments in energy prices and operational and financial reforms have helped to improve the performance of state owned enterprises (SOEs) and have reduced the burden on the budget and the...