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5. Advancing Financial Development in Latin America and the Caribbean

5. Advancing Financial Development in Latin America and the Caribbean »

Source: Regional Economic Outlook, October 2015: Western Hemisphere Department : Adjusting Under Pressure

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

ISBN: 9781513575209

Keywords: Trade integration, Fiscal consolidation, Commodity prices, Exchange rate flexibility, interest, trade, exchange, interest rates, financial development

In recent years, many Latin American and Caribbean (LAC) countries have made significant efforts to develop their financial systems. This chapter examines the current state of financial developm...

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence†

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence† »

Source: Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Volume/Issue: 2015/226

Series: IMF Working Papers

Author(s): Olivier Blanchard , Jonathan Ostry , Atish Ghosh , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513500805

Keywords: capital inflows, bonds, bond, return, domestic bonds, All Countries, apital inflows,

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead t...

Drivers of Peru's Equilibrium Real Exchange Rate

Drivers of Peru's Equilibrium Real Exchange Rate »

Source: Drivers of Peru's Equilibrium Real Exchange Rate : Is the Nuevo Sol a Commodity Currency?

Volume/Issue: 2015/26

Series: IMF Working Papers

Author(s): Melesse Tashu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2015

ISBN: 9781498302760

Keywords: Real exchange rate, exchange rate, equilibrium, currency, currencies, Open Economy Macroeconomics,

This paper tests the hypothesis of ‘commodity currency' on the nuevo sol and, more generally, identifies the drivers of Peru's equilibrium real exchange rate using a cointegration analysis. The results show that ex...

Executive Summary

Executive Summary »

Source: Regional Economic Outlook, October 2015: Western Hemisphere Department : Adjusting Under Pressure

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

ISBN: 9781513575209

Keywords: Trade integration, Fiscal consolidation, Commodity prices, Exchange rate flexibility, interest, trade, exchange, interest rates, financial development

Following an early setback in 2015, the pace of global activity rebounded, but the outlook remains modest in both the near and medium term. The recovery in advanced economies is becoming more firm, though it...

Global Financial Spillovers to Emerging Market Sovereign Bond Markets1

Global Financial Spillovers to Emerging Market Sovereign Bond Markets1 »

Source: Global Financial Spillovers to Emerging Market Sovereign Bond Markets

Volume/Issue: 2015/141

Series: IMF Working Papers

Author(s): Christian Ebeke , and Annette Kyobe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2015

ISBN: 9781513552750

Keywords: Financial shocks, EM bond markets, Non-linearity, markets, currency, bond, holdings,

Foreign holdings of emerging markets (EMs) government bonds have increased substantially over the last decade. While foreign participation in local-currency sovereign bond markets provides an additional source of f...

Global Monetary Tightening

Global Monetary Tightening »

Source: Global Monetary Tightening : Emerging Markets Debt Dynamics and Fiscal Crises

Volume/Issue: 2014/215

Series: IMF Working Papers

Author(s): Julio Escolano , Christina Kolerus , and Constant Lonkeng Ngouana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2014

ISBN: 9781475584691

Keywords: Debt dynamics, sovereign debt crisis, unconventional, debt, bond, interest, Monetary Policy (Targets, Instruments, and Effects), International Lending and Debt Problems

This paper finds that tightening global financial conditions can worsen emerging economies' public debt dynamics through an increasing interest rate-growth differential, particularly if coupled with high global ris...

IMF Executive Board Concludes 2015 Article IV Consultation with Peru

IMF Executive Board Concludes 2015 Article IV Consultation with Peru »

Source: Peru : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru

Volume/Issue: 2015/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2015

ISBN: 9781513539317

Keywords: investment, debt, poverty, monetary fund, deficit

This 2015 Article IV Consultation highlights that Peru remains one of the best performing economies in Latin America, with solid macroeconomic policies and fundamentals and visible gains in poverty reduction. Howev...

Peru
			: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru

Peru : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Peru »

Volume/Issue: 2015/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2015

DOI: http://dx.doi.org/10.5089/9781513539317.002

ISBN: 9781513539317

Keywords: investment, debt, poverty, monetary fund, deficit

This 2015 Article IV Consultation highlights that Peru remains one of the best performing economies in Latin America, with solid macroeconomic policies and fundamentals and visible gains in poverty reduction. Howev...

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence

Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence »

Volume/Issue: 2015/226

Series: IMF Working Papers

Author(s): Olivier Blanchard , Jonathan Ostry , Atish Ghosh , and Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

DOI: http://dx.doi.org/10.5089/9781513500805.001

ISBN: 9781513500805

Keywords: capital inflows, bonds, bond, return, domestic bonds, All Countries, apital inflows,

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead t...

Drivers of Peru's Equilibrium Real Exchange Rate
			: Is the Nuevo Sol a Commodity Currency?

Drivers of Peru's Equilibrium Real Exchange Rate : Is the Nuevo Sol a Commodity Currency? »

Volume/Issue: 2015/26

Series: IMF Working Papers

Author(s): Melesse Tashu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2015

DOI: http://dx.doi.org/10.5089/9781498302760.001

ISBN: 9781498302760

Keywords: Real exchange rate, exchange rate, equilibrium, currency, currencies, Open Economy Macroeconomics,

This paper tests the hypothesis of ‘commodity currency' on the nuevo sol and, more generally, identifies the drivers of Peru's equilibrium real exchange rate using a cointegration analysis. The results show that ex...