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We construct estimates of external assets and liabilities for 145 countries for the period 1970-2004. We describe our … external positions, and the composition of international portfolios, distinguishing between foreign direct investment …, portfolio equity investment, official reserves, and external debt. We document the increasing importance of equity financing and …
Persistent link: https://www.econbiz.de/10005826601
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
The simple answer to both questions in the title of this paper is: No. We concentrate on the three main risk elements that contributed to the banking system’s difficulties during the crisis: increasing dollarization of the balance sheet, expanding exposure to the government, and, eventually,...
Persistent link: https://www.econbiz.de/10005826664
Persistent link: https://www.econbiz.de/10005419820
This Selected Issues paper reviews the financial sector development in Georgia in recent years, and investigates why it has lagged behind economic development, as well as developments in more advanced transition economies. The paper briefly reviews recent financial sector development in Georgia,...
Persistent link: https://www.econbiz.de/10011242800
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Persistent link: https://www.econbiz.de/10011245720
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external …
Persistent link: https://www.econbiz.de/10011245904
I build a symmetric two-country model that incorporates nominal rigidities, local-currency pricing and monopolistic competition distorting the goods markets. The model is similar to the framework developed in Martínez-García and Søndergaard (2008a, 2008b), but it also introduces frictions in...
Persistent link: https://www.econbiz.de/10008862185
During the past five years or so, most East Asian economies including the Philippines experienced a rising level of foreign exchange reserves and rapidly appreciating currencies both in nominal and real terms. One cause has been the resurgence of capital flows, which makes the issue of how to...
Persistent link: https://www.econbiz.de/10009363497