This report represents a preliminary attempt to refine some basic ideas on the potential impact Indonesia might experience from a free trade arrangement with Japan, using a forward-looking, multi-regional, multi-sectoral applied general equilibrium model of global trade to capture growth effects...

In recent decades, free trade agreements have been proliferated and have become a major part of the global trading system, along with the multilateral framework represented by the World Trade Organizations. This article discusses some of the major issues with FTA in relation to the WTO...

How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...

This Selected Issues paper discusses several features of the Slovene economy that may explain the weak relationship between credit and domestic demand growth. It reviews credit growth developments in Slovenia and in selected European Union new member states, and compares their experiences with...

This 2003 Article IV Consultation highlights that despite significant slowdowns in activity in some major overseas markets, New Zealand has maintained a strong pace of economic growth over the past three years. The economy’s performance reflected its enhanced flexibility, stemming from...

South Africa’s 2005 Article IV Consultation reports that the short-term outlook is broadly favorable, with the main risks arising from a possible worsening of the external environment. The authorities plan to maintain a flexible exchange rate, and to intervene in the foreign exchange...

This Selected Issues paper analyzes the main factors underlying the evolution of competitiveness, export performance, and labor market developments in Poland. The paper seeks to identify key questions of relevance for policymaking. The overall evolution of competitiveness compared with...

Despite repeated shocks, the United States economy has provided valuable support for global growth. Executive Directors commended this development, and stressed the need to tighten fiscal and monetary policies. They welcomed the assessment of the fiscal transparency Reports on Observance of...

The staff report for the 2005 Article IV Consultation on the People’s Republic of China highlights economic developments and fiscal policy. The continued robust growth owes much to the favorable external environment, with judicious macroeconomic policies, continued structural reforms, and...