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The Capital Inflows Problem

The Capital Inflows Problem »

Source: The Capital Inflows Problem : Concepts and Issues

Volume/Issue: 1993/10

Series: IMF Policy Discussion Papers

Author(s): Carmen Reinhart , Leonardo Leiderman , and Guillermo Calvo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1993

ISBN: 9781451969931

Keywords: Inflation, capital inflows, exchange rate, real exchange rate, capital inflow, exchange rate appreciation

Since 1990 capital has started to move from industrial countries to developing regions like Latin America, the Middle East and parts of Asia. Reentry into international capital markets is a welcome turn of events f...

A Cautionary Note on the Use of Exchange Rate Indicators*

A Cautionary Note on the Use of Exchange Rate Indicators* »

Source: A Cautionary Note on the Use of Exchange Rate Indicators

Volume/Issue: 1993/5

Series: IMF Policy Discussion Papers

Author(s): Peter Wickham

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1993

ISBN: 9781451972368

Keywords: exchange rate, exchange rates, exchange rate indicators, effective exchange rates, effective exchange rate

The paper reviews the basis for the use of various popular exchange rate indicators by tracing their conceptual development, the links between these indicators, and how they are measured in actual practice. It also...

Challenges in Expanding Development Assistance

Challenges in Expanding Development Assistance »

Source: Challenges in Expanding Development Assistance

Volume/Issue: 2002/5

Series: IMF Policy Discussion Papers

Author(s): Peter Heller , and Sanjeev Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451972788

Keywords: Absorptive capacity, Poverty, Foreign aid, ODA, international public goods, exchange rate, capita income, industrial countries, real exchange, public goods

This paper highlights the macro and microeconomic challenges associated with success of the effort to mobilize 0.7 percent of GNP for official development assistance (ODA). To promote achievement of the Millennium...

Commercial Bank Debt Restructuring

Commercial Bank Debt Restructuring »

Source: Commercial Bank Debt Restructuring : The Experience of Bulgaria

Volume/Issue: 1995/6

Series: IMF Policy Discussion Papers

Author(s): Aerdt Houben

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1995

ISBN: 9781451971941

Keywords: Bulgaria, debt, debt reduction, interest, debt service, external debt

This paper reviews commercial bank debt restructuring based on the recent experience of Bulgaria. While the deal is shown to have generated substantial debt relief at a remarkably low cost, several lessons are draw...

Conditionality as an Instrument of Borrower Credibility

Conditionality as an Instrument of Borrower Credibility »

Source: Conditionality as an Instrument of Borrower Credibility

Volume/Issue: 1997/2

Series: IMF Policy Discussion Papers

Author(s): Pierre Dhonte

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1997

ISBN: 9781451974423

Keywords: Conditionality, Conditionality/Credibility, credit ratings, external financing, credit rating, institutional investor, debt

Fund member countries that adopt market-friendly policies often encounter a credibility problem—market-friendly policies are not effective in stimulating private investment as long as there remains a signifi...

Conquering Fear of Floating

Conquering Fear of Floating »

Source: Conquering Fear of Floating : Australia's Successful Adaptation to a Flexible Exchange Rate

Volume/Issue: 2007/2

Series: IMF Policy Discussion Papers

Author(s): Craig Beaumont , and Li Cui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451975383

Keywords: Australia, Floating exchange rates, Flexible exchange rates, Floating, Flexible, Exchange Rate, Monetary, Fiscal, Structural Reform, Macroeconomic Stability

Australia has enjoyed fifteen years of uninterrupted economic expansion since 1992 despite shocks such as the Asian crisis in 1997-98 and the information technology bust in 2000-01. This resilient economic performa...

Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings

Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings »

Source: Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings

Volume/Issue: 2005/9

Series: IMF Policy Discussion Papers

Author(s): Julie Kozack

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451975840

Keywords: Financial crisis, Discount rates, International financial markets, Sovereign debt restructuring, Discount rate, net present value, debt, debt restructuring, debt sustainability, debt service

Assessments regarding the effectiveness of sovereign debt restructurings are often summarized by comparisons of the net present value of debt service before and after the restructuring. These calculations are inher...

Considering the IMF's Perspective on a "Sound Fiscal Policy"

Considering the IMF's Perspective on a "Sound Fiscal Policy" »

Source: Considering the IMF's Perspective on a "Sound Fiscal Policy"

Volume/Issue: 2002/8

Series: IMF Policy Discussion Papers

Author(s): Peter Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2002

ISBN: 9781451971019

Keywords: Fiscal policy, IMF, International Monetary Fund, fiscal sustainability, fiscal position, fiscal policies, public debt, Fiscal Policies And Behavior Of Economic Agents, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy

This paper provides a perspective on how the IMF assesses a “sound fiscal policy,” focusing principally on industrial and emerging market economies. It observes six central criteria: the short-term fi...

Controlled Capital Account Liberalization

Controlled Capital Account Liberalization »

Source: Controlled Capital Account Liberalization : A Proposal

Volume/Issue: 2005/7

Series: IMF Policy Discussion Papers

Author(s): Eswar Prasad , and Raghuram Rajan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451975741

Keywords: Capital account liberalization, Capital controls, Capital inflows, Reserves, Foreign exchange reserves, International finance, closed-end mutual fund, international portfolio diversification, capital account, capital outflows

In this paper, we develop a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a portion of capital...

Corporate Debt Restructuring in East Asia

Corporate Debt Restructuring in East Asia »

Source: Corporate Debt Restructuring in East Asia : Some Lessons from International Experience

Volume/Issue: 1998/13

Series: IMF Policy Discussion Papers

Author(s): Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1998

ISBN: 9781451968729

Keywords: Debt, Debt restructuring, Asia, Malaysia, Korea, Republic of, Indonesia, Thailand, East Asia, corporate debt, corporate restructuring

This paper summarizes some lessons from international experience for corporate debt restructuring in east Asia. Basic principles of debt restructuring are described, the experiences of Mexico, Chile, the United Kin...