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Revisiting the Link Between Finance and Macroeconomic Volatility

Dabla-Norris, Era; Srivisal, Narapong - International Monetary Fund (IMF) - 2013

, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced … economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial … smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and …

Persistent link: https://www.econbiz.de/10010790267

Real and Financial Sector Linkages in China and India

Aziz, Jahangir - International Monetary Fund (IMF) - 2008

In the spirit of what is known as business cycle accounting, this paper finds that the investment wedge-the gap between household's rate of intertemporal substitution and the marginal product of capital-is large and quantitatively significant in explaining China's and India's growth. Specific...

Persistent link: https://www.econbiz.de/10005826386

Greece; Selected Issues

International Monetary Fund (IMF); International … - 2006

This Selected Issues paper analyzes the growth prospects of the Greek economy. It is estimated that exceptional factors boosted growth by 1 percentage point per year in recent years and, under current trends and policies, growth is likely to drop to about 3 percent by the end of the decade. The...

Persistent link: https://www.econbiz.de/10005825203

Centripetal forces in China's Economic Take-Off

Dayal-Gulati, Anuradha; Husain, Aasim M. - International Monetary Fund (IMF) - 2000

This paper uses provincial time series data from China to empirically investigate two propositions relating to economic development: (i) that economic takeoff is associated with technological transfer through foreign direct investment (FDI); and (ii) that takeoff is accompanied, at least in the...

Persistent link: https://www.econbiz.de/10005769171

Growth in Switzerland; Can Better Performance Be Sustained?

Gagales, Anastassios - International Monetary Fund (IMF) - 2002

Swiss growth performance in the past quarter century has been mediocre. The paper finds that conditional income convergence contributes significantly to slow growth and the poor performance of the domestically oriented sectors has been a drag on growth. However, slow growth is not inescapable....

Persistent link: https://www.econbiz.de/10005826097

Real Implications of Financial Linkages Between Canada and the United States

Klyuev, Vladimir - International Monetary Fund (IMF) - 2008

This paper documents the extent of financial linkages between Canada and the United States and explores the impact of changes in U.S. financial conditions on financial conditions and real economic activity in Canada. It shows that close to a quarter of financing by Canadian corporations is...

Persistent link: https://www.econbiz.de/10005826463

The Quality Effect; Does Financial Liberalization Improve the Allocation of Capital?

Abiad, Abdul; Oomes, Nienke; Ueda, Kenichi - International Monetary Fund (IMF) - 2004

The study documents evidence of a "quality effect" of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin's Q across firms. Based on a simple model, the authors predict that financial liberalization, by equalizing access to credit, reduces the...

Persistent link: https://www.econbiz.de/10005825813

Explaining Russia's Output Collapse; Aggregate Sources and Regional Evidence

Dolinskaya, Irina; Tytell, Irina - International Monetary Fund (IMF) - 2001

This paper explores sources of the output collapse in Russia during transition. A modified growth accounting framework is developed that takes into account changes in factor utilization typical of the transition process. The results indicate that declines in factor inputs and productivity were...

Persistent link: https://www.econbiz.de/10005826009

Credit Stagnation in Latin America

Barajas, Adolfo; Steiner, Roberto - International Monetary Fund (IMF) - 2002

This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the study of eight countries (Argentina, Bolivia, Brazil, Chile, Colombia, Peru, Mexico, and Venezuela), the magnitude of the slowdown is documented, comparing it to historical behavior...

Persistent link: https://www.econbiz.de/10005826373

Developing Essential Financial Markets in Smaller Economies; Stylized Facts and Policy Options

International Monetary Fund (IMF); International … - 2008

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