Browse

You are looking at 1 - 10 of 114 items for :

  • Financial and monetary sector x
  • Globalization x
  • General Financial Markets: General (includes Measurement and Data) x
Clear All
International Monetary Fund. Asia and Pacific Dept

Abstract

Asia and Pacific’s position as the growth engine of the world economy has intensified in recent years. While in 2000 the region accounted for less than 30 percent of world output, by 2014 this contribution had risen to almost 40 percent. Moreover, Asia and Pacific accounted for nearly two-thirds of global growth last year. Developments in the region are therefore central to the global economic outlook and for formulating policies around the world. What, then, are Asia and Pacific’s near- and medium-term growth prospects? Will substantial intraregional differences in growth persist? How have vulnerabilities within the region evolved? What macroeconomic, financial, and structural policies are appropriate to ensure a dynamic and resilient Asia and Pacific economic region? This chapter addresses these questions, beginning from the broader perspective of the global backdrop and associated risks, as reflected in the April 2015 World Economic Outlook (WEO).

International Monetary Fund. Asia and Pacific Dept

Abstract

Over the past 30 years, the growing technological complexity of products, trade liberalization, and lower transportation and communications costs have reshaped the landscape of global trade. In particular, production has become increasingly fragmented through the growing prevalence of global value chains (GVCs), with components crossing numerous international borders. This has resulted in faster growth of trade in intermediate inputs than of trade in final goods. Asia has especially exemplified this new pattern of production: during 1995–2013, the region’s trade in intermediate goods grew by a factor of six, while trade in final goods grew almost four times. This compares with fourfold and threefold increases, respectively, in the rest of the world.

International Monetary Fund. Asia and Pacific Dept

Abstract

Since the Asian financial crisis, Asian policymakers have encouraged greater financial cooperation and integration within the region. Important steps taken include regional liquidity support arrangements through the Chiang Mai Initiative Multilateralization, the Asian Bond Fund, the Asian Bond Market Initiative, and financial forums such as the Association of Southeast Asian Nations Plus Three and the Executives’ Meeting of East Asia—Pacific Central Banks.1 The Association of Southeast Asian Nations (ASEAN) has also outlined plans to foster capital market integration, including by building capital market infrastructure and harmonizing regulations (Almekinders and others 2015).2

Vernon Smith, Riccardo Faini, Rémy Prud’homme, and Ms. Jacqueline T Irving

Globalization, trade, and infrastructure policymaking were among the wide range of development-related topics discussed at the 16th Annual Bank Conference on Development Economics (ABCDE), held at the World Bank on May 3–4, 2004. This article highlights presentations delivered by Vernon Smith, 2002 Nobel Prize Laureate in economics and professor of economics and law at George Mason University; Riccardo Faini, professor of economics at the University of Rome and former IMF Executive Director for Italy; and Rémy Prud’homme, professor emeritus at the University of Paris.

International Monetary Fund

The Greek economy is teetering owing to heavy public debt and loss of market access. Greece is adopting an ambitious comprehensive multiyear adjustment program to lower the fiscal deficit and the debt ratio, reduce domestic demand in line with capacity, and increase supply and competitiveness so that the economy can step onto a higher growth path led by investments and exports. Greece needs a strong and sustained adjustment program to lower the fiscal deficit substantially and create the basis for a declining debt ratio.