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Effects of Financial Globalization on Developing Countries; Some Empirical Evidence

Kose, M. Ayhan; Rogoff, Kenneth; Prasad, Eswar; Wei, … - International Monetary Fund (IMF) - 2003

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust...

Persistent link: https://www.econbiz.de/10005590880

The Relationship Between the Foreign Exchange Regime and Macroeconomic Performance in Eastern Africa

International Monetary Fund (IMF); International … - 2012

This study examines the relationship between the foreign exchange regime and macroeconomic performance in Eastern Africa. The study focuses on seven countries, five of which decisively liberalized their foreign exchange regimes. The study assesses the relationship between (i) growth and various...

Persistent link: https://www.econbiz.de/10010790391

Are Pegged and Intermediate Regimes More Crisis Prone?

Bubula, Andrea; Ötker, Inci - International Monetary Fund (IMF) - 2003

This paper provides evidence on the susceptibility of different types of exchange rate regimes to currency crises during 1990-2001. It explores the incidence of crises, identified as episodes of severe exchange market pressure, to seek evidence on whether pegged regimes are more crisis prone...

Persistent link: https://www.econbiz.de/10005604829

Foreign Exchange Intervention in Developing and Transition Economies; Results of a Survey

Kriljenko, Jorge Iván Canales - International Monetary Fund (IMF) - 2003

, for several reasons, some central banks in developing and transition economies may be able to conduct foreign exchange … intervention more effectively than the central banks of developed countries issuing the major international currencies. First …, these central banks do not always fully sterilize their foreign exchange interventions. In addition, they issue regulations …

Persistent link: https://www.econbiz.de/10005263900

Paraguay; Selected Issues

International Monetary Fund (IMF); International … - 2012

This Selected Issues paper for Paraguay discusses how capital inflows contributed to credit expansions. Capital inflows contribute to a rapid expansion of private credit, exacerbating credit and business cycles. These effects are stronger under more rigid exchange rate arrangements and in...

Persistent link: https://www.econbiz.de/10011243260

Keynes, Cocoa, and Copper; In Search of Commodity Currencies

Sahay, Ratna; Céspedes, Luis Felipe; Cashin, Paul - International Monetary Fund (IMF) - 2002

This paper examines whether the real exchange rates of commodity-exporting countries and the real prices of their commodity exports move together over time. Using IMF data on the world prices of 44 commodities and national commodity export shares, we construct new monthly indices of national...

Persistent link: https://www.econbiz.de/10005825719

Former Yugoslav Republic of Macedonia; Staff Report for the 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion...

International Monetary Fund (IMF); International … - 2010

This 2009 Article IV Consultation highlights that the Former Yugoslav Republic of Macedoniaâ€™s vulnerability at the outset of the global crisis was its large current account deficit in the context of the exchange rate peg to the euro. At the same time, it benefited from a small fiscal...

Persistent link: https://www.econbiz.de/10011245752

Financial Globalization; A Reappraisal

Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently conflicting results. For instance, there is still little robust evidence of the growth benefits of broad...

Persistent link: https://www.econbiz.de/10005263828

Managing Financial Crises; Recent Experience and Lessons for Latin America

Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003

This paper seeks to draw lessons from the IMFâ€™s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...

Persistent link: https://www.econbiz.de/10005824823

External Performance in Low-Income Countries

Prati, Alessandro; Ricci, Luca Antonio; Christiansen, … - International Monetary Fund (IMF) - 2011

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and...

Persistent link: https://www.econbiz.de/10010790491