This paper examines challenges in effectively implementing the lender-of-last-resort function in the EU single financial market. Briefly highlighted are features of the EU financial landscape that could increase EU systemic financial risk. Briefly described are the complexities of the EU's...

I construct a systemic liquidity risk index (SLRI) from data on violations of arbitrage relationships across several asset classes between 2004 and 2010. Then I test whether the equity returns of 53 global banks were exposed to this liquidity risk factor. Results show that the level of bank...

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.

This document describes the efforts of the Department of Labor of Rio de Janeiro to build a comprehensive institutional framework focused on the promotion of a long run, micro-firm based local economic development model and to create a path to sustainable economic growth, job creation and...

Algeria’s local corporate bond market provides a good basis for further diversifying the economy’s financing channels. This study analyzes the nexus of bank financing of public enterprises in the ongoing national investment program (NIP) and also sets Algeria’s local...

This paper marshals substantial arguments and data to support the contention that improving the access of micro and small enterprises to financial services could have an important salutary impact on a country's income distribution. To demonstrate this, the paper shows first that many poor own or...

Today over 80 percent of the businesses in Latin America and the Caribbean have 10 employees or less and, depending on the country, they provide between 30 and 80 percent of employment. Yet, in spite of this new empowering view of microenterprises--as a means for the poor to earn their...

This strategy document, which was expanded and edited based on comments received through the two periods of the public consultation process, lays out a diagnosis of the key challenges facing development through the private sector and proposes five general areas for IDB intervention. Given the...

The IDB Group, guided by its Strategy for Microenterprise Development, has made the creation of a sustainable market of services to the sector one of its most important priorities during the past decade. This report presents an overview of the contributions the IDB has made to the...

El Banco define las operaciones de crédito global multisectorial (GMC) como préstamos con garantías soberanas concedidos a instituciones financieras intermediarias o entidades similares, con el objeto de que éstas concedan créditos a subprestatarios finales para el financiamiento de...