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Malaysian Capital Controls; Macroeconomics and Institutions
Tamirisa, Natalia T.; Johnson, Simon; Kochhar, Kalpana; … - International Monetary Fund (IMF) - 2006
We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political...
Persistent link: https://www.econbiz.de/10005263746
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Financial Implications of the Shrinking Supply of U.S. Treasury Securities
Schinasi, Garry J.; Smith, T. Todd; Kramer, Charles … - International Monetary Fund (IMF) - 2001
Recent improvements in fiscal positions in advanced countries have sharply curtailed the issuance of government securities and created the possibility that government securities could disappear in some countries. The possibility that this might occur in the United States has attracted the most...
Persistent link: https://www.econbiz.de/10005826085
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India; 2006 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2007
This 2006 Article IV Consultation highlights that India’s economy has continued to grow above trend, with an average growth of 8 percent in the last three years. Growth is broad based, with robust consumption, investment, and exports. With manufacturing expanding at more than 10 percent...
Persistent link: https://www.econbiz.de/10011245493
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Causes of Asset Shortages in Emerging Markets
Chen, Jiaqian; Imam, Patrick A. - International Monetary Fund (IMF) - 2011
We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We develop a model that explains how asset shortage develop, and then econometrically...
Persistent link: https://www.econbiz.de/10009147327
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Puttable and Extendible Bonds; Developing Interest Rate Derivatives for Emerging Markets
Neftci, Salih N.; Santos, Andre - International Monetary Fund (IMF) - 2003
gains from hedging long-term bonds with interest rate derivatives. These bonds can help develop interest-rate derivative …This paper analyzes the price stabilizing properties of puttable and extendible bonds, their potential to help develop … interest-rate derivative markets, and their use by governments. Their stabilizing properties imply that, when bond prices fall …
Persistent link: https://www.econbiz.de/10005826508
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Reaping the Benefits of Financial Globalization
Dell'Ariccia, Giovanni; Mauro, Paolo; Faria, André; … - International Monetary Fund (IMF) - 2008
Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...
Persistent link: https://www.econbiz.de/10010790496
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Asian Financial Integration; Trends and Interruptions
Borensztein, Eduardo; Loungani, Prakash - International Monetary Fund (IMF) - 2011
The paper compares trends in financial integration within Asia with those in industrialized countries and other …, with the process interrupted by crises and global volatility. Cross-border equity and bond holdings have also increased …
Persistent link: https://www.econbiz.de/10008839330
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Currency Hedging for International Portfolios
Schmittmann, Jochen M. - International Monetary Fund (IMF) - 2010
This paper examines the benefits from hedging the currency exposure of international investments in single- and multi …-country equity and bond portfolios from the perspectives of German, Japanese, British and American investors. Over the period 1975 to … 2009, hedging of currency risk substantially reduced the volatility of foreign investments at a quarterly investment …
Persistent link: https://www.econbiz.de/10008560448
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United States; 2006 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2006
The U.S. economy continued to grow strongly over the year even in the face of a withdrawal of monetary stimulus and high oil prices. Executive Directors commended the Federal Reserve for its monetary tightening. They recognized that the financial sector has proven innovative and resilient. They...
Persistent link: https://www.econbiz.de/10011244857
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What’s in it for Me? A Primeron Differences between Islamic and Conventional Finance in Malaysia
Krasicka, Olga; Nowak, Sylwia - International Monetary Fund (IMF) - 2012
conventional bond and equity prices are driven by common factors. Likewise, especially in recent years, Islamic banks have …
Persistent link: https://www.econbiz.de/10011142164