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The Composition of Capital Flows

The Composition of Capital Flows »

Source: The Composition of Capital Flows : Is South Africa Different?

Volume/Issue: 2005/40

Series: IMF Working Papers

Author(s): Norbert Funke , Faisal Ahmed , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860597

Keywords: Composition of capital flows, exchange rate volatility, financial development, fdi, capital flows, capital inflows, direct investment, foreign direct investment,

Over the past decade, South Africa has attracted relatively little foreign direct investment (FDI), but considerable amounts of portfolio inflows. In this context, the objective of the paper is twofold: to identify...

Copper and the Chilean Economy, 1960-98

Copper and the Chilean Economy, 1960-98 »

Source: Copper and the Chilean Economy, 1960-98

Volume/Issue: 1999/57

Series: IMF Working Papers

Author(s): Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1999

ISBN: 9781451847758

Keywords: copper prices, exchange rate, real exchange rate, copper, foreign investment

The paper concludes that world copper prices play an important role in short-term fluctuations and probably influence long-term growth of the Chilean economy. While many mechanisms may be at work, investment seems...

Corporate Investment and the Real Exchange Rate±

Corporate Investment and the Real Exchange Rate± »

Source: Corporate Investment and the Real Exchange Rate

Volume/Issue: 2017/183

Series: IMF Working Papers

Author(s): Mai Chi Dao , Camelia Minoiu , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2017

ISBN: 9781484313749

Keywords: Real exchange rates, Corporate investment, Wages, Emerging markets, Developed countries, Exchange rate depreciation, labor share, real exchange rate, real effects of depreciation, General

We examine the relationship between real exchange rate depreciations and indicators of firm performance using data for a sample of more than 30,000 firms from 66 (advanced and emerging market) countries over the 20...

Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle

Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle »

Source: Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle

Volume/Issue: 2011/118

Series: IMF Working Papers

Author(s): Yuanyan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262410

Keywords: investment, exchange rate, credit market, business cycle, net worth, Credit Market Imperfection, Secoral Asymmetry, Macroeconomics And Monetary Economics, Macroeconomic Aspects Of International Trade And Finance,

This paper analyzes the role of credit market imperfection and sectoral asymmetry as a means through which shocks to the real economy are propagated and amplified. Drawing on firm-level data to calibrate the model,...

Current Account Developments in New Member States of the European Union

Current Account Developments in New Member States of the European Union »

Source: Current Account Developments in New Member States of the European Union : Equilibrium, Excess, and EU-Phoria

Volume/Issue: 2008/92

Series: IMF Working Papers

Author(s): Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

ISBN: 9781451869538

Keywords: Current account norm, macroeconomic balance approach, fdi, investment climate, transition economies, exchange rate regime

This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the las...

Debt Dynamics and Global Imbalances

Debt Dynamics and Global Imbalances »

Source: Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered

Volume/Issue: 2007/4

Series: IMF Working Papers

Author(s): Guy Meredith

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

ISBN: 9781451865684

Keywords: Debt Dynamics, International Adjustment, exchange rate, current account, real exchange rate, external debt, current account deficit, Forecasting and Other Model Applications, Consumer Economics: Theory, Macroeconomics: Consumption

We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to...

Effects of Volatile Asset Priceson Balance of Payments and International Investment Position

Effects of Volatile Asset Priceson Balance of Payments and International Investment Position »

Source: Effects of Volatile Asset Priceson Balance of Payments and International Investment Position

Volume/Issue: 2000/191

Series: IMF Working Papers

Author(s): Marco Committeri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2000

ISBN: 9781451859706

Keywords: Balance of payments, International investment position, Statistical accuracy, Errors and omissions, Volatility, Capital flight, exchange rates, statistics, equation, exchange rate

This paper aims at clarifying, with the help of a simple formal model and numerical examples, several aspects of the relationship between international investment position (IIP) and balance of payments (BOP) statis...

An Empirical "Dependent Economy" Model for Pakistan*

An Empirical "Dependent Economy" Model for Pakistan* »

Source: An Empirical "Dependent Economy" Model for Pakistan

Volume/Issue: 1991/102

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1991

ISBN: 9781451852554

Keywords: exchange rate, real exchange rate, private consumption, disposable income, investment spending

While the “dependent economy” approach has been used extensively in theoretical work on developing countries, there is very little empirical analysis of it available in the literature. This paper spec...

Fiscal Policy Multipliers in Small States

Fiscal Policy Multipliers in Small States »

Source: Fiscal Policy Multipliers in Small States

Volume/Issue: 2019/72

Series: IMF Working Papers

Author(s): Ali Alichi , Ippei Shibata , and Kadir Tanyeri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2019

ISBN: 9781498303996

Keywords: Business cycles, Real interest rates, Exchange rate depreciation, Government consumption, Public investments, Government Spending, Fiscal Policy, Fiscal Multipliers., WEO, government investment

Government debt in many small states has risen beyond sustainable levels and some governments are considering fiscal consolidation. This paper estimates fiscal policy multipliers for small states using two distinct...

Government Spending Effects in Low-income Countries*

Government Spending Effects in Low-income Countries* »

Source: Government Spending Effects in Low-income Countries

Volume/Issue: 2015/286

Series: IMF Working Papers

Author(s): Wenyi Shen , Susan Yang , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

ISBN: 9781513578972

Keywords: Fiscal Policy, Low-income Countries, Public Investment, Fiscal Multipliers, Small Open DSGE Models, Aid, investment, government spending, exchange rate, exchange

Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper develops a new-Keynesian small open economy model to show, analytically and through simulations,...