Browse

You are looking at 1 - 100 of 223 items :

  • IMF Policy Discussion Papers x
Clear All
Islamic Bond Issuance
			: What Sovereign Debt Managers Need to Know

Islamic Bond Issuance : What Sovereign Debt Managers Need to Know »

Volume/Issue: 2008/3

Series: IMF Policy Discussion Papers

Author(s): Amadou Sy , Peter Kunzel , Paul Mills , and Andreas Jobst

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

DOI: http://dx.doi.org/10.5089/9781451946024.003

ISBN: 9781451946024

Keywords: Capital markets, Debt management, Islamic banking, Islamic finance, Securities markets, Sovereign debt, securitization, structured finance, Islamic bond, shari&;amp;#x2019;ah compliance

Recent years have witnessed a surge in the issuance of Islamic capital market securities (sukuk) by corporates and public sector entities amid growing demand for alternative investments. As the sukuk market continu...

Islamic Bond Issuance

Islamic Bond Issuance »

Source: Islamic Bond Issuance : What Sovereign Debt Managers Need to Know

Volume/Issue: 2008/3

Series: IMF Policy Discussion Papers

Author(s): Amadou Sy , Peter Kunzel , Paul Mills , and Andreas Jobst

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451946024

Keywords: Capital markets, Debt management, Islamic banking, Islamic finance, Securities markets, Sovereign debt, securitization, structured finance, Islamic bond, shari&;amp;#x2019;ah compliance

Recent years have witnessed a surge in the issuance of Islamic capital market securities (sukuk) by corporates and public sector entities amid growing demand for alternative investments. As the sukuk market continu...

Capital Inflows and Balance of Payments Pressures

Capital Inflows and Balance of Payments Pressures »

Source: Capital Inflows and Balance of Payments Pressures : Tailoring Policy Responses in Emerging Market Economies

Volume/Issue: 2008/2

Series: IMF Policy Discussion Papers

Author(s): Bikas Joshi , Manuela Goretti , Uma Ramakrishnan , Alun Thomas , Atish Ghosh , and Juan Zalduendo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451945997

Keywords: Economic policy, Balance of payments, Capital inflows, Capital flows, Developing countries, Policy Discussion Paper, policy responses, current account, exchange rate,

Although capital inflows are generally beneficial to recipient countries, they also pose a challenge for the conduct of economic policy. This paper proposes a conceptual taxonomy to guide the design of policy respo...

Capital Inflows and Balance of Payments Pressures
			: Tailoring Policy Responses in Emerging Market Economies

Capital Inflows and Balance of Payments Pressures : Tailoring Policy Responses in Emerging Market Economies »

Volume/Issue: 2008/2

Series: IMF Policy Discussion Papers

Author(s): Bikas Joshi , Manuela Goretti , Uma Ramakrishnan , Alun Thomas , Atish Ghosh , and Juan Zalduendo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

DOI: http://dx.doi.org/10.5089/9781451945997.003

ISBN: 9781451945997

Keywords: Economic policy, Balance of payments, Capital inflows, Capital flows, Developing countries, Policy Discussion Paper, policy responses, current account, exchange rate,

Although capital inflows are generally beneficial to recipient countries, they also pose a challenge for the conduct of economic policy. This paper proposes a conceptual taxonomy to guide the design of policy respo...

Should Italy Sell Its Nonfinancial Assets to Reduce the Debt?

Should Italy Sell Its Nonfinancial Assets to Reduce the Debt? »

Volume/Issue: 2008/1

Series: IMF Policy Discussion Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451945959.003

ISBN: 9781451945959

Keywords: Fiscal policy, Fiscal adjustment, Asset liquidation, Italy, Public debt reduction, public net worth, sustainability of public finances, strategy for managing public assets, debt, public debt

This paper assesses the proposal, publicly debated in recent years in Italy, to reduce public debt by selling public assets, especially nonfinancial tangible assets. The main findings indicate that, although sellin...

Should Italy Sell Its Nonfinancial Assets to Reduce the Debt?

Should Italy Sell Its Nonfinancial Assets to Reduce the Debt? »

Source: Should Italy Sell Its Nonfinancial Assets to Reduce the Debt?

Volume/Issue: 2008/1

Series: IMF Policy Discussion Papers

Author(s): Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451945959

Keywords: Fiscal policy, Fiscal adjustment, Asset liquidation, Italy, Public debt reduction, public net worth, sustainability of public finances, strategy for managing public assets, debt, public debt

This paper assesses the proposal, publicly debated in recent years in Italy, to reduce public debt by selling public assets, especially nonfinancial tangible assets. The main findings indicate that, although sellin...

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...

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

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

DOI: http://dx.doi.org/10.5089/9781451975383.003

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...

Lessons from Successful Labor Market Reformers in Europe

Lessons from Successful Labor Market Reformers in Europe »

Volume/Issue: 2007/1

Series: IMF Policy Discussion Papers

Author(s): Anthony Annett

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

DOI: http://dx.doi.org/10.5089/9781451975352.003

ISBN: 9781451975352

Keywords: Fiscal adjustment, Europe, Employment, Labor supply, Labor market reforms, Political economy, Wage moderation, Wage bargaining, Tax reductions, labor market

Welfare states can be reformed successfully, and popular support for reforms can be maintained. But this requires an internally consistent package of labor market, fiscal, and product market reforms, including some...

Lessons from Successful Labor Market Reformers in Europe

Lessons from Successful Labor Market Reformers in Europe »

Source: Lessons from Successful Labor Market Reformers in Europe

Volume/Issue: 2007/1

Series: IMF Policy Discussion Papers

Author(s): Anthony Annett

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

ISBN: 9781451975352

Keywords: Fiscal adjustment, Europe, Employment, Labor supply, Labor market reforms, Political economy, Wage moderation, Wage bargaining, Tax reductions, labor market

Welfare states can be reformed successfully, and popular support for reforms can be maintained. But this requires an internally consistent package of labor market, fiscal, and product market reforms, including some...

Trade Issues in the Doha Round
			: Dispelling Some Misconceptions

Trade Issues in the Doha Round : Dispelling Some Misconceptions »

Volume/Issue: 2006/4

Series: IMF Policy Discussion Papers

Author(s): Stephen Tokarick

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

DOI: http://dx.doi.org/10.5089/9781451946161.003

ISBN: 9781451946161

Keywords: Developing countries, Agricultural production, Agricultural subsidies, Multilateral trade negotiations, Tariffs, Subsidies, Trade liberalization, Trade policy, preference erosion, tariff reductions

The current round of multilateral trade negotiations-the Doha Round-presents an opportunity for countries to reap the benefits of trade liberalization. Unfortunately, a number of misconceptions about the likely imp...

Trade Issues in the Doha Round

Trade Issues in the Doha Round »

Source: Trade Issues in the Doha Round : Dispelling Some Misconceptions

Volume/Issue: 2006/4

Series: IMF Policy Discussion Papers

Author(s): Stephen Tokarick

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451946161

Keywords: Developing countries, Agricultural production, Agricultural subsidies, Multilateral trade negotiations, Tariffs, Subsidies, Trade liberalization, Trade policy, preference erosion, tariff reductions

The current round of multilateral trade negotiations-the Doha Round-presents an opportunity for countries to reap the benefits of trade liberalization. Unfortunately, a number of misconceptions about the likely imp...

Strengthening Transparency in the Oil Sector in Cameroon
			: Why Does it Matter?

Strengthening Transparency in the Oil Sector in Cameroon : Why Does it Matter? »

Volume/Issue: 2006/2

Series: IMF Policy Discussion Papers

Author(s): Stéphane Cossé

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451972535.003

ISBN: 9781451946123

Keywords: Cameroon, Fiscal transparency, Governance, Oil producing countries, Oil sector, Transparency, African economies, EITI, oil revenue, public expenditure

There has been a growing recognition of the importance of transparency for economic growth and social development in oil producing countries. This paper analyzes transparency issues in Cameroon's oil sector. It sho...

Modernizing China's Growth Paradigm

Modernizing China's Growth Paradigm »

Volume/Issue: 2006/3

Series: IMF Policy Discussion Papers

Author(s): Eswar Prasad , and Raghuram Rajan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451946147.003

ISBN: 9781451946147

Keywords: Economic reforms, Economic growth, China, International finance, Policy reforms, market-oriented economy, trade and financial integration, policy complementarities, exchange rate, international monetary fund

China has achieved tremendous economic progress in the last three decades, but there is much work to be done to make the economy resilient to large shocks, ensure the sustainability of its growth, and translate thi...

Modernizing China's Growth Paradigm

Modernizing China's Growth Paradigm »

Source: Modernizing China's Growth Paradigm

Volume/Issue: 2006/3

Series: IMF Policy Discussion Papers

Author(s): Eswar Prasad , and Raghuram Rajan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451946147

Keywords: Economic reforms, Economic growth, China, International finance, Policy reforms, market-oriented economy, trade and financial integration, policy complementarities, exchange rate, international monetary fund

China has achieved tremendous economic progress in the last three decades, but there is much work to be done to make the economy resilient to large shocks, ensure the sustainability of its growth, and translate thi...

Strengthening Transparency in the Oil Sector in Cameroon

Strengthening Transparency in the Oil Sector in Cameroon »

Source: Strengthening Transparency in the Oil Sector in Cameroon : Why Does it Matter?

Volume/Issue: 2006/2

Series: IMF Policy Discussion Papers

Author(s): Stéphane Cossé

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451946123

Keywords: Cameroon, Fiscal transparency, Governance, Oil producing countries, Oil sector, Transparency, African economies, EITI, oil revenue, public expenditure

There has been a growing recognition of the importance of transparency for economic growth and social development in oil producing countries. This paper analyzes transparency issues in Cameroon's oil sector. It sho...

Vanishing Contagion?

Vanishing Contagion? »

Volume/Issue: 2006/1

Series: IMF Policy Discussion Papers

Author(s): Paolo Mauro , Tatiana Didier , and Sergio Schmukler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

DOI: http://dx.doi.org/10.5089/9781451946062.003

ISBN: 9781451946062

Keywords: Economic integration, Financial crisis, Emerging markets, crises, international integration, international transmission of shocks, contagion, investors, mutual funds, emerging market

While a number of emerging market crises were characterized by widespread contagion during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some...

Vanishing Contagion?

Vanishing Contagion? »

Source: Vanishing Contagion?

Volume/Issue: 2006/1

Series: IMF Policy Discussion Papers

Author(s): Paolo Mauro , Tatiana Didier , and Sergio Schmukler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451946062

Keywords: Economic integration, Financial crisis, Emerging markets, crises, international integration, international transmission of shocks, contagion, investors, mutual funds, emerging market

While a number of emerging market crises were characterized by widespread contagion during the 1990s, more recent crises (notably, in Argentina) have been mostly contained within national borders. This has led some...

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...

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 »

Volume/Issue: 2005/9

Series: IMF Policy Discussion Papers

Author(s): Julie Kozack

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781451975840.003

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...

Africa in the Doha Round

Africa in the Doha Round »

Source: Africa in the Doha Round : Dealing with Preference Erosion and Beyond

Volume/Issue: 2005/8

Series: IMF Policy Discussion Papers

Author(s): Yongzheng Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451975796

Keywords: Africa, Multilateral trade negotiations, World Trade Organization, Doha Round, preference erosion, special and differential treatment, market access, export markets, tariff cuts, trade barriers,

Improving market access in industrial countries and retaining preferences have been Africa's two key objectives in the Doha Round trade negotiations. This paper argues that African negotiators may have overlooked t...

Africa in the Doha Round
			: Dealing with Preference Erosion and Beyond

Africa in the Doha Round : Dealing with Preference Erosion and Beyond »

Volume/Issue: 2005/8

Series: IMF Policy Discussion Papers

Author(s): Yongzheng Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

DOI: http://dx.doi.org/10.5089/9781451975796.003

ISBN: 9781451975796

Keywords: Africa, Multilateral trade negotiations, World Trade Organization, Doha Round, preference erosion, special and differential treatment, market access, export markets, tariff cuts, trade barriers,

Improving market access in industrial countries and retaining preferences have been Africa's two key objectives in the Doha Round trade negotiations. This paper argues that African negotiators may have overlooked t...

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...

Controlled Capital Account Liberalization
			: A Proposal

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

DOI: http://dx.doi.org/10.5089/9781451975741.003

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...

Primary Surpluses and sustainable Debt Levels in Emerging Market Countries

Primary Surpluses and sustainable Debt Levels in Emerging Market Countries »

Volume/Issue: 2005/6

Series: IMF Policy Discussion Papers

Author(s): Jonathan Ostry , and Abdul Abiad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

DOI: http://dx.doi.org/10.5089/9781451975703.003

ISBN: 9781451975703

Keywords: Primary surplus;, public debt sustainability, debt, public debt, primary surplus, debt sustainability, interest rates, National Budget, Deficit, and Debt,

This paper aims to put some constraints on the way primary surpluses are projected when making assessments of public debt sustainability. Projections should be tied either to the country's historical track record i...

Primary Surpluses and sustainable Debt Levels in Emerging Market Countries

Primary Surpluses and sustainable Debt Levels in Emerging Market Countries »

Source: Primary Surpluses and sustainable Debt Levels in Emerging Market Countries

Volume/Issue: 2005/6

Series: IMF Policy Discussion Papers

Author(s): Jonathan Ostry , and Abdul Abiad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451975703

Keywords: Primary surplus;, public debt sustainability, debt, public debt, primary surplus, debt sustainability, interest rates, National Budget, Deficit, and Debt,

This paper aims to put some constraints on the way primary surpluses are projected when making assessments of public debt sustainability. Projections should be tied either to the country's historical track record i...

Does Excess Liquidity Pose a Threat in Japan?

Does Excess Liquidity Pose a Threat in Japan? »

Source: Does Excess Liquidity Pose a Threat in Japan?

Volume/Issue: 2005/5

Series: IMF Policy Discussion Papers

Author(s): Gauti Eggertsson , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

ISBN: 9781451975666

Keywords: Expectations, Deflation, Japan, Monetary policy, Monetary policy, Inflation, quantitative easing, interest rates, interest, interest rate

This paper examines the effects of quantitative easing implemented by the Bank of Japan (BoJ) since early 2001, looking specifically at the impact on inflation expectations and real asset prices. It suggests a numb...

Does Excess Liquidity Pose a Threat in Japan?

Does Excess Liquidity Pose a Threat in Japan? »

Volume/Issue: 2005/5

Series: IMF Policy Discussion Papers

Author(s): Gauti Eggertsson , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

DOI: http://dx.doi.org/10.5089/9781451975666.003

ISBN: 9781451975666

Keywords: Expectations, Deflation, Japan, Monetary policy, Monetary policy, Inflation, quantitative easing, interest rates, interest, interest rate

This paper examines the effects of quantitative easing implemented by the Bank of Japan (BoJ) since early 2001, looking specifically at the impact on inflation expectations and real asset prices. It suggests a numb...

Deterring Abuse of the Financial System

Deterring Abuse of the Financial System »

Source: Deterring Abuse of the Financial System : Elements of an Emerging International Integrity Standard

Volume/Issue: 2005/3

Series: IMF Policy Discussion Papers

Author(s): John Abbott , and R. Johnston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451975581

Keywords: Financial crisis, Anti-money laundering, International capital markets, Standards and codes, Financial integrity, combating the financing of terrorism, financial system, financial sector, money laundering, internal controls

Assessing financial systems' stability has required the IMF to dig deeper into financial sector issues and to include financial integrity elements in its assessments. Integrity elements are increasingly being addre...

Deterring Abuse of the Financial System
			: Elements of an Emerging International Integrity Standard

Deterring Abuse of the Financial System : Elements of an Emerging International Integrity Standard »

Volume/Issue: 2005/3

Series: IMF Policy Discussion Papers

Author(s): John Abbott , and R. Johnston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

DOI: http://dx.doi.org/10.5089/9781451975581.003

ISBN: 9781451975581

Keywords: Financial crisis, Anti-money laundering, International capital markets, Standards and codes, Financial integrity, combating the financing of terrorism, financial system, financial sector, money laundering, internal controls

Assessing financial systems' stability has required the IMF to dig deeper into financial sector issues and to include financial integrity elements in its assessments. Integrity elements are increasingly being addre...

Understanding Fiscal Space

Understanding Fiscal Space »

Volume/Issue: 2005/4

Series: IMF Policy Discussion Papers

Author(s): Peter Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

DOI: http://dx.doi.org/10.5089/9781451975635.003

ISBN: 9781451975635

Keywords: Fiscal sustainability, Fiscal space, Fund-supported adjustment programs, Fiscal policy, Fiscal policy, MDGs, borrowing, debt sustainability, National Government Expenditures and Related Policies: General, National Budget

With new initiatives to provide low income countries with external assistance in support of the Millennium Development Goals (MDGs), donors and NGOs are seeking to understand whether "fiscal space" can be provided...

Understanding Fiscal Space1

Understanding Fiscal Space1 »

Source: Understanding Fiscal Space

Volume/Issue: 2005/4

Series: IMF Policy Discussion Papers

Author(s): Peter Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451975635

Keywords: Fiscal sustainability, Fiscal space, Fund-supported adjustment programs, Fiscal policy, Fiscal policy, MDGs, borrowing, debt sustainability, National Government Expenditures and Related Policies: General, National Budget

With new initiatives to provide low income countries with external assistance in support of the Millennium Development Goals (MDGs), donors and NGOs are seeking to understand whether "fiscal space" can be provided...

Reforming the Stability and Growth Pact

Reforming the Stability and Growth Pact »

Volume/Issue: 2005/2

Series: IMF Policy Discussion Papers

Author(s): Anthony Annett , Jörg Decressin , and Michael Deppler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

DOI: http://dx.doi.org/10.5089/9781451975482.003

ISBN: 9781451975482

Keywords: Economic stabilization, Fiscal policy, Fiscal rules, Political economy, structural reforms, implicit liabilities, international monetary fund

A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adopti...

Reforming the Stability and Growth Pact

Reforming the Stability and Growth Pact »

Source: Reforming the Stability and Growth Pact

Volume/Issue: 2005/2

Series: IMF Policy Discussion Papers

Author(s): Anthony Annett , Jörg Decressin , and Michael Deppler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2005

ISBN: 9781451975482

Keywords: Economic stabilization, Fiscal policy, Fiscal rules, Political economy, structural reforms, implicit liabilities, international monetary fund

A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adopti...

Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China

Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China »

Volume/Issue: 2005/1

Series: IMF Policy Discussion Papers

Author(s): Eswar Prasad , Qing Wang , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

DOI: http://dx.doi.org/10.5089/9781451975451.003

ISBN: 9781451975451

Keywords: Capital controls, China, exchange rate regime, financial sector reforms, capital account, capital inflows, capital account liberalization, capital flows, financial sector weakness,

This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more indep...

Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China

Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China »

Source: Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China

Volume/Issue: 2005/1

Series: IMF Policy Discussion Papers

Author(s): Eswar Prasad , Qing Wang , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

ISBN: 9781451975451

Keywords: Capital controls, China, exchange rate regime, financial sector reforms, capital account, capital inflows, capital account liberalization, capital flows, financial sector weakness,

This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more indep...

Banking Reform in the Lower Mekong Countries

Banking Reform in the Lower Mekong Countries »

Source: Banking Reform in the Lower Mekong Countries

Volume/Issue: 2004/5

Series: IMF Policy Discussion Papers

Author(s): Olaf Unteroberdoerster

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451972870

Keywords: Cambodia, Vietnam, Banking reform, transition economics, Lao P.D.R., banking system, recapitalization, transition economies, loan classification, Financial Institutions and Services: Government Policy and Regulation

This paper reviews recent banking reform efforts in the lower Mekong countries (LMCs), comprising Cambodia, the Lao People's Democratic Republic, and Vietnam. Linked by close economic and cultural ties, the three L...

Banking Reform in the Lower Mekong Countries

Banking Reform in the Lower Mekong Countries »

Volume/Issue: 2004/5

Series: IMF Policy Discussion Papers

Author(s): Olaf Unteroberdoerster

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

DOI: http://dx.doi.org/10.5089/9781451972870.003

ISBN: 9781451972870

Keywords: Cambodia, Vietnam, Banking reform, transition economics, Lao P.D.R., banking system, recapitalization, transition economies, loan classification, Financial Institutions and Services: Government Policy and Regulation

This paper reviews recent banking reform efforts in the lower Mekong countries (LMCs), comprising Cambodia, the Lao People's Democratic Republic, and Vietnam. Linked by close economic and cultural ties, the three L...

Pension Reform, Investment Restrictions and Capital Markets

Pension Reform, Investment Restrictions and Capital Markets »

Volume/Issue: 2004/4

Series: IMF Policy Discussion Papers

Author(s): Jorge Roldos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

DOI: http://dx.doi.org/10.5089/9781451973730.003

ISBN: 9781451973730

Keywords: Capital markets, Capital market development, Investment, Pensions, Pension fund regulation, asset allocation, securities, capital market, securities markets, portfolios,

Pension reform in several emerging market countries has been associated with rapid growth in assets under management and a positive impact on the development of local securities markets. However, limitations on suc...

Pension Reform, Investment Restrictions and Capital Markets

Pension Reform, Investment Restrictions and Capital Markets »

Source: Pension Reform, Investment Restrictions and Capital Markets

Volume/Issue: 2004/4

Series: IMF Policy Discussion Papers

Author(s): Jorge Roldos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451973730

Keywords: Capital markets, Capital market development, Investment, Pensions, Pension fund regulation, asset allocation, securities, capital market, securities markets, portfolios,

Pension reform in several emerging market countries has been associated with rapid growth in assets under management and a positive impact on the development of local securities markets. However, limitations on suc...

Issues in the Establishment of Asset Management Companies

Issues in the Establishment of Asset Management Companies »

Volume/Issue: 2004/3

Series: IMF Policy Discussion Papers

Author(s): Stefan Ingves , Steven Seelig , and Dong He

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

DOI: http://dx.doi.org/10.5089/9781451974225.003

ISBN: 9781451974225

Keywords: Asset management, Bank restructuring, Financial crisis, corporate restructuring, loan restructuring, restructuring, asset management companies, impaired assets, Financial Institutions and Services: Government Policy and Regulation,

This paper discusses the role of asset management companies (AMCs) in facilitating bank restructuring and specifies some policy lessons learned from international experience. The paper concludes that there is no si...

Tax Administration and the Small Taxpayer

Tax Administration and the Small Taxpayer »

Volume/Issue: 2004/2

Series: IMF Policy Discussion Papers

Author(s): Parthasarathi Shome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

DOI: http://dx.doi.org/10.5089/9781451974577.003

ISBN: 9781451974577

Keywords: Services sector, Tax policy, Tax administration, small taxpayers, large taxpayer units, tax administration and the small taxpayer, taxpayers, income tax, single tax, tax system,

Small taxpayers should pay their appropriate revenue share while their compliance costs should be reduced. This assumes importance as restructuring in emerging markets has meant rapid growth in services through sel...

Issues in the Establishment of Asset Management Companies

Issues in the Establishment of Asset Management Companies »

Source: Issues in the Establishment of Asset Management Companies

Volume/Issue: 2004/3

Series: IMF Policy Discussion Papers

Author(s): Stefan Ingves , Steven Seelig , and Dong He

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

ISBN: 9781451974225

Keywords: Asset management, Bank restructuring, Financial crisis, corporate restructuring, loan restructuring, restructuring, asset management companies, impaired assets, Financial Institutions and Services: Government Policy and Regulation,

This paper discusses the role of asset management companies (AMCs) in facilitating bank restructuring and specifies some policy lessons learned from international experience. The paper concludes that there is no si...

Tax Administration and the Small Taxpayer

Tax Administration and the Small Taxpayer »

Source: Tax Administration and the Small Taxpayer

Volume/Issue: 2004/2

Series: IMF Policy Discussion Papers

Author(s): Parthasarathi Shome

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2004

ISBN: 9781451974577

Keywords: Services sector, Tax policy, Tax administration, small taxpayers, large taxpayer units, tax administration and the small taxpayer, taxpayers, income tax, single tax, tax system,

Small taxpayers should pay their appropriate revenue share while their compliance costs should be reduced. This assumes importance as restructuring in emerging markets has meant rapid growth in services through sel...

Intraregional Trade in Emerging Asia

Intraregional Trade in Emerging Asia »

Volume/Issue: 2004/1

Series: IMF Policy Discussion Papers

Author(s): Harm Zebregs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

DOI: http://dx.doi.org/10.5089/9781451975062.003

ISBN: 9781451975062

Keywords: Economic integration, Trade, emerging Asia, intraregional trade, export markets, export growth, trading partners, intermediate goods, Country and Industry Studies of Trade,

The share of emerging Asia in world trade has increased sharply over the past 25 years. A large part of this increase is the result of booming intraregional trade. This paper investigates the key factors behind the...

Intraregional Trade in Emerging Asia

Intraregional Trade in Emerging Asia »

Source: Intraregional Trade in Emerging Asia

Volume/Issue: 2004/1

Series: IMF Policy Discussion Papers

Author(s): Harm Zebregs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451975062

Keywords: Economic integration, Trade, emerging Asia, intraregional trade, export markets, export growth, trading partners, intermediate goods, Country and Industry Studies of Trade,

The share of emerging Asia in world trade has increased sharply over the past 25 years. A large part of this increase is the result of booming intraregional trade. This paper investigates the key factors behind the...

International Trade in Services
			: Implications for the Fund

International Trade in Services : Implications for the Fund »

Volume/Issue: 2003/6

Series: IMF Policy Discussion Papers

Author(s): Natalia Tamirisa , Alexander Lehmann , and Jaroslaw Wieczorek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

DOI: http://dx.doi.org/10.5089/9781451972207.003

ISBN: 9781451972207

Keywords: International trade, international services trade, coherence, WTO, trade in services, services trade, services sectors, financial services, international trade in services,

This paper reviews the characteristics of international trade in services and of the World Trade Organization’s General Agreement on Trade in Services (GATS) framework, which was established to regulate it....

International Trade in Services

International Trade in Services »

Source: International Trade in Services : Implications for the Fund

Volume/Issue: 2003/6

Series: IMF Policy Discussion Papers

Author(s): Natalia Tamirisa , Alexander Lehmann , and Jaroslaw Wieczorek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

ISBN: 9781451972207

Keywords: International trade, international services trade, coherence, WTO, trade in services, services trade, services sectors, financial services, international trade in services,

This paper reviews the characteristics of international trade in services and of the World Trade Organization’s General Agreement on Trade in Services (GATS) framework, which was established to regulate it....

FDI and the Investment Climate in the CIS Countries

FDI and the Investment Climate in the CIS Countries »

Source: FDI and the Investment Climate in the CIS Countries

Volume/Issue: 2003/5

Series: IMF Policy Discussion Papers

Author(s): Clinton Shiells

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

ISBN: 9781451972849

Keywords: Former Soviet Union, Montenegro, Transition economies, Investment climate, FDI, Regional issues, investment, capital flows, direct investment,

In view of disappointing levels of inward foreign direct investment (FDI), this paper examines capital flows into the Commonwealth of Independent States (CIS) countries and investigates the main impediments to a mo...

FDI and the Investment Climate in the CIS Countries

FDI and the Investment Climate in the CIS Countries »

Volume/Issue: 2003/5

Series: IMF Policy Discussion Papers

Author(s): Clinton Shiells

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

DOI: http://dx.doi.org/10.5089/9781451972849.003

ISBN: 9781451972849

Keywords: Former Soviet Union, Montenegro, Transition economies, Investment climate, FDI, Regional issues, investment, capital flows, direct investment,

In view of disappointing levels of inward foreign direct investment (FDI), this paper examines capital flows into the Commonwealth of Independent States (CIS) countries and investigates the main impediments to a mo...

Issuing Government Bonds to Finance Bank Recapitalization and Restructuring
			: Design Factors that Affect Banks' Financial Performance

Issuing Government Bonds to Finance Bank Recapitalization and Restructuring : Design Factors that Affect Banks' Financial Performance »

Volume/Issue: 2003/4

Series: IMF Policy Discussion Papers

Author(s): Michael Andrews

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

DOI: http://dx.doi.org/10.5089/9781451973662.003

ISBN: 9781451973662

Keywords: Banking crisis, Bank restructuring, Financial crisis, systemic crisis, bank recapitalization, bank privatization, government bonds, government debt management, restructuring, recapitalization

Bonds issued by the government or government agencies are often used to finance bank restructuring following a systemic crisis. Many conflicting considerations affect the design of the bonds used to pay for public...

Issuing Government Bonds to Finance Bank Recapitalization and Restructuring

Issuing Government Bonds to Finance Bank Recapitalization and Restructuring »

Source: Issuing Government Bonds to Finance Bank Recapitalization and Restructuring : Design Factors that Affect Banks' Financial Performance

Volume/Issue: 2003/4

Series: IMF Policy Discussion Papers

Author(s): Michael Andrews

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

ISBN: 9781451973662

Keywords: Banking crisis, Bank restructuring, Financial crisis, systemic crisis, bank recapitalization, bank privatization, government bonds, government debt management, restructuring, recapitalization

Bonds issued by the government or government agencies are often used to finance bank restructuring following a systemic crisis. Many conflicting considerations affect the design of the bonds used to pay for public...

Financial Integration in Central America

Financial Integration in Central America »

Source: Financial Integration in Central America : Prospects and Adjustment Needs

Volume/Issue: 2003/3

Series: IMF Policy Discussion Papers

Author(s): Jorge Canales Kriljenko , Padamja Khandelwal , and Alexander Lehmann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451974195

Keywords: Dominican Republic, Costa Rica, Costa Rica, El Salvador, Nicaragua, Honduras, Guatemala, Trade liberalization, CAFTA, Trade in Financial Services

We assess the current barriers to trade in financial services in the six Central American countries seeking a free trade agreement with the United States (the CAFTA) and examine the relative merits of regional and...

Financial Integration in Central America
			: Prospects and Adjustment Needs

Financial Integration in Central America : Prospects and Adjustment Needs »

Volume/Issue: 2003/3

Series: IMF Policy Discussion Papers

Author(s): Jorge Canales Kriljenko , Padamja Khandelwal , and Alexander Lehmann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

DOI: http://dx.doi.org/10.5089/9781451974195.003

ISBN: 9781451974195

Keywords: Dominican Republic, Costa Rica, Costa Rica, El Salvador, Nicaragua, Honduras, Guatemala, Trade liberalization, CAFTA, Trade in Financial Services

We assess the current barriers to trade in financial services in the six Central American countries seeking a free trade agreement with the United States (the CAFTA) and examine the relative merits of regional and...

The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy

The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy »

Source: The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy : The Case of Romania

Volume/Issue: 2003/2

Series: IMF Policy Discussion Papers

Author(s): Stéphane Cossé

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451974546

Keywords: Europe, European Economic and Monetary Union, Social security, Romania, energy sector, quasi-fiscal activities, macroeconomic stabilization, transition, energy, natural gas

This paper assesses the main issues faced by the energy sector in a transition economy such as Romania and their macroeconomic dimension. It examines how the size of quasi-fiscal subsidies, owing mainly to inapprop...

The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy
			: The Case of Romania

The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy : The Case of Romania »

Volume/Issue: 2003/2

Series: IMF Policy Discussion Papers

Author(s): Stéphane Cossé

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451974546.003

ISBN: 9781451974546

Keywords: Europe, European Economic and Monetary Union, Social security, Romania, energy sector, quasi-fiscal activities, macroeconomic stabilization, transition, energy, natural gas

This paper assesses the main issues faced by the energy sector in a transition economy such as Romania and their macroeconomic dimension. It examines how the size of quasi-fiscal subsidies, owing mainly to inapprop...

Large and Complex Financial Institutions
			: Challenges and Policy Responses:  Lessons from Sweden

Large and Complex Financial Institutions : Challenges and Policy Responses: Lessons from Sweden »

Volume/Issue: 2003/1

Series: IMF Policy Discussion Papers

Author(s): R. Johnston , Balázs Horváth , Luca Errico , and Jingqing Chai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

DOI: http://dx.doi.org/10.5089/9781451975031.003

ISBN: 9781451975031

Keywords: Capital markets, Moral hazard, Sweden, Sweden, Large and complex financial institutions, policy lessons, financial institutions, financial sector, financial system, central banks

This paper examines the regulatory and supervisory implications stemming from the dominance of large and complex financial institutions, drawing on the recent Financial Sector Assessment Program (FSAP) mission work...

Large and Complex Financial Institutions: Challenges and Policy Responses

Large and Complex Financial Institutions: Challenges and Policy Responses »

Source: Large and Complex Financial Institutions : Challenges and Policy Responses: Lessons from Sweden

Volume/Issue: 2003/1

Series: IMF Policy Discussion Papers

Author(s): R. Johnston , Balázs Horváth , Luca Errico , and Jingqing Chai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451975031

Keywords: Capital markets, Moral hazard, Sweden, Sweden, Large and complex financial institutions, policy lessons, financial institutions, financial sector, financial system, central banks

This paper examines the regulatory and supervisory implications stemming from the dominance of large and complex financial institutions, drawing on the recent Financial Sector Assessment Program (FSAP) mission work...

Cross-Border Issues in Energy Trade in the CIS Countries

Cross-Border Issues in Energy Trade in the CIS Countries »

Source: Cross-Border Issues in Energy Trade in the CIS Countries

Volume/Issue: 2002/13

Series: IMF Policy Discussion Papers

Author(s): Clinton Shiells , John Dodsworth , and Paul Mathieu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451968958

Keywords: Energy sector, Azerbaijan, Armenia, Belarus, Former Soviet Union, Transition economies, Regional issues, oil products, crude oil, natural gas

This paper explores from a regional perspective the distorted nature of trade in energy products within the CIS countries. The persistence of pricing distortions, barter arrangements, and discriminatory access to p...

Cross-Border Issues in Energy Trade in the CIS Countries

Cross-Border Issues in Energy Trade in the CIS Countries »

Volume/Issue: 2002/13

Series: IMF Policy Discussion Papers

Author(s): Clinton Shiells , John Dodsworth , and Paul Mathieu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451968958.003

ISBN: 9781451968958

Keywords: Energy sector, Azerbaijan, Armenia, Belarus, Former Soviet Union, Transition economies, Regional issues, oil products, crude oil, natural gas

This paper explores from a regional perspective the distorted nature of trade in energy products within the CIS countries. The persistence of pricing distortions, barter arrangements, and discriminatory access to p...

On a Common Currency for the GCC Countries

On a Common Currency for the GCC Countries »

Volume/Issue: 2002/12

Series: IMF Policy Discussion Papers

Author(s): Esteban Jadresic

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451969481.003

ISBN: 9781451969481

Keywords: Currencies, Cooperation Council for the Arab States of the Gulf, Currency, GCC countries, common currency, exchange rate, international monetary fund, exchange rates, monetary policy,

This paper assesses the eventual replacement of the currencies of the GCC countries with a common currency. It concludes that a properly implemented currency union may contribute to enhance economic efficiency in t...

Poverty and Social Impact Analysis in PRGF-Supported Programs

Poverty and Social Impact Analysis in PRGF-Supported Programs »

Volume/Issue: 2002/11

Series: IMF Policy Discussion Papers

Author(s): Gabriela Inchauste

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

DOI: http://dx.doi.org/10.5089/9781451969856.003

ISBN: 9781451969856

Keywords: Poverty, Fund-supported adjustment programs, IMF Programs, Social Impact, poverty reduction, impact analysis, social impact analysis, civil service, Fiscal and Monetary Policy in Development, General Welfare,

This paper aims to inform on the status of Poverty and Social Impact Analysis (PSIA) in IMF-supported programs, detailing the results presented in the recent review of PRGF-supported programs. The review showed tha...

On a Common Currency for the GCC Countries

On a Common Currency for the GCC Countries »

Source: On a Common Currency for the GCC Countries

Volume/Issue: 2002/12

Series: IMF Policy Discussion Papers

Author(s): Esteban Jadresic

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451969481

Keywords: Currencies, Cooperation Council for the Arab States of the Gulf, Currency, GCC countries, common currency, exchange rate, international monetary fund, exchange rates, monetary policy,

This paper assesses the eventual replacement of the currencies of the GCC countries with a common currency. It concludes that a properly implemented currency union may contribute to enhance economic efficiency in t...

Poverty and Social Impact Analysis in PRGF-Supported Programs

Poverty and Social Impact Analysis in PRGF-Supported Programs »

Source: Poverty and Social Impact Analysis in PRGF-Supported Programs

Volume/Issue: 2002/11

Series: IMF Policy Discussion Papers

Author(s): Gabriela Inchauste

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451969856

Keywords: Poverty, Fund-supported adjustment programs, IMF Programs, Social Impact, poverty reduction, impact analysis, social impact analysis, civil service, Fiscal and Monetary Policy in Development, General Welfare,

This paper aims to inform on the status of Poverty and Social Impact Analysis (PSIA) in IMF-supported programs, detailing the results presented in the recent review of PRGF-supported programs. The review showed tha...

Reviving the Case for GDP-Indexed Bonds

Reviving the Case for GDP-Indexed Bonds »

Volume/Issue: 2002/10

Series: IMF Policy Discussion Papers

Author(s): Eduardo Borensztein , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2002

DOI: http://dx.doi.org/10.5089/9781451970173.003

ISBN: 9781451970173

Keywords: Emerging markets, International financial markets, GDP-indexed bonds, debt, indexed bonds, indexation, interest rate, interest, International Monetary Arrangements and Institutions, International Lending and Debt Problems

This paper seeks to revive the case for countries to self-insure against economic growth slowdowns by issuing GDP-indexed bonds. We simulate the effects of GDP-indexed bonds under different assumptions about fiscal...

Reviving the Case for GDP-Indexed Bonds

Reviving the Case for GDP-Indexed Bonds »

Source: Reviving the Case for GDP-Indexed Bonds

Volume/Issue: 2002/10

Series: IMF Policy Discussion Papers

Author(s): Eduardo Borensztein , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2002

ISBN: 9781451970173

Keywords: Emerging markets, International financial markets, GDP-indexed bonds, debt, indexed bonds, indexation, interest rate, interest, International Monetary Arrangements and Institutions, International Lending and Debt Problems

This paper seeks to revive the case for countries to self-insure against economic growth slowdowns by issuing GDP-indexed bonds. We simulate the effects of GDP-indexed bonds under different assumptions about fiscal...

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...

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

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

DOI: http://dx.doi.org/10.5089/9781451971019.003

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...

The Role of Monthly Economic Statistical Bulletins

The Role of Monthly Economic Statistical Bulletins »

Volume/Issue: 2002/9

Series: IMF Policy Discussion Papers

Author(s): Claudia Dziobek , and Mei Jin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2002

DOI: http://dx.doi.org/10.5089/9781451970562.003

ISBN: 9781451970562

Keywords: Central banks and their policies, Technical Assistance, Economic information, statistical capacity building, central banks, central bank, balance of payments, industrial countries, government debt, Relation of Economics to Social Values

Monthly economic statistical bulletins issued by central banks and national statistical offices, the focus of this study, are well established in countries with advanced statistical systems. Such bulletins present...

The Role of Monthly Economic Statistical Bulletins

The Role of Monthly Economic Statistical Bulletins »

Source: The Role of Monthly Economic Statistical Bulletins

Volume/Issue: 2002/9

Series: IMF Policy Discussion Papers

Author(s): Claudia Dziobek , and Mei Jin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2002

ISBN: 9781451970562

Keywords: Central banks and their policies, Technical Assistance, Economic information, statistical capacity building, central banks, central bank, balance of payments, industrial countries, government debt, Relation of Economics to Social Values

Monthly economic statistical bulletins issued by central banks and national statistical offices, the focus of this study, are well established in countries with advanced statistical systems. Such bulletins present...

Privatization in Ukraine
			: Challenges of Assessment and Coverage in Fund Conditionality

Privatization in Ukraine : Challenges of Assessment and Coverage in Fund Conditionality »

Volume/Issue: 2002/7

Series: IMF Policy Discussion Papers

Author(s): Katrin Elborgh-Woytek , and Mark Lewis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2002

DOI: http://dx.doi.org/10.5089/9781451971620.003

ISBN: 9781451971620

Keywords: Privatization, Public enterprises, Ukraine, Ukraine, Use of Fund resources, transition, privatization program, privatization procedures, privatization receipts, privatization programs

The paper examines the recent privatization experience in Ukraine in the context of the streamlining of Fund structural conditionality. A particular focus is the shift from privatization-related conditionality base...

Privatization in Ukraine

Privatization in Ukraine »

Source: Privatization in Ukraine : Challenges of Assessment and Coverage in Fund Conditionality

Volume/Issue: 2002/7

Series: IMF Policy Discussion Papers

Author(s): Katrin Elborgh-Woytek , and Mark Lewis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2002

ISBN: 9781451971620

Keywords: Privatization, Public enterprises, Ukraine, Ukraine, Use of Fund resources, transition, privatization program, privatization procedures, privatization receipts, privatization programs

The paper examines the recent privatization experience in Ukraine in the context of the streamlining of Fund structural conditionality. A particular focus is the shift from privatization-related conditionality base...

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...

Challenges in Expanding Development Assistance

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

DOI: http://dx.doi.org/10.5089/9781451972788.003

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...

Issues in Electronic Banking
			: An Overview

Issues in Electronic Banking : An Overview »

Volume/Issue: 2002/6

Series: IMF Policy Discussion Papers

Author(s): Andrea Schaechter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

DOI: http://dx.doi.org/10.5089/9781451972177.003

ISBN: 9781451972177

Keywords: Bank regulations, Banking supervision, electronic banking, banking regulation, banking services, monetary authority, money laundering, Financial Institutions and Services: Government Policy and Regulation,

Using electronic delivery channels for banking services and products has become increasingly popular in recent years. Electronic banking makes it possible to offer banking services around the world 24 hours a day....

The New Approach to Sovereign Debt Restructuring
			: Setting the Incentives Right

The New Approach to Sovereign Debt Restructuring : Setting the Incentives Right »

Volume/Issue: 2002/4

Series: IMF Policy Discussion Papers

Author(s): Carlo Sdralevich , and Biaggio Bossone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

DOI: http://dx.doi.org/10.5089/9781451973594.003

ISBN: 9781451973594

Keywords: Financial crisis, Crisis resolution, International financial markets, Private sector, Private sector involvement, sovereign debt, debt default, debt, debt sustainability, debt restructuring

The paper discusses key incentive-related issues of the sovereign debt restructuring mechanism recently outlined by the IMF First Deputy Managing Director. The structure of incentives in the mechanism should be con...

Issues in Electronic Banking

Issues in Electronic Banking »

Source: Issues in Electronic Banking : An Overview

Volume/Issue: 2002/6

Series: IMF Policy Discussion Papers

Author(s): Andrea Schaechter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451972177

Keywords: Bank regulations, Banking supervision, electronic banking, banking regulation, banking services, monetary authority, money laundering, Financial Institutions and Services: Government Policy and Regulation,

Using electronic delivery channels for banking services and products has become increasingly popular in recent years. Electronic banking makes it possible to offer banking services around the world 24 hours a day....

The New Approach to Sovereign Debt Restructuring

The New Approach to Sovereign Debt Restructuring »

Source: The New Approach to Sovereign Debt Restructuring : Setting the Incentives Right

Volume/Issue: 2002/4

Series: IMF Policy Discussion Papers

Author(s): Carlo Sdralevich , and Biaggio Bossone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451973594

Keywords: Financial crisis, Crisis resolution, International financial markets, Private sector, Private sector involvement, sovereign debt, debt default, debt, debt sustainability, debt restructuring

The paper discusses key incentive-related issues of the sovereign debt restructuring mechanism recently outlined by the IMF First Deputy Managing Director. The structure of incentives in the mechanism should be con...

Foreign Direct Investment in China

Foreign Direct Investment in China »

Source: Foreign Direct Investment in China : Some Lessons for Other Countries

Volume/Issue: 2002/3

Series: IMF Policy Discussion Papers

Author(s): Harm Zebregs , and Wanda Tseng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451974171

Keywords: Foreign direct investment, China, fdi, investment, foreign investors, foreign investment

China's increasing openness to foreign direct investment (FDI) has contributed importantly to its exceptional growth performance. This paper examines China's experience with FDI and identifies some lessons for othe...

Stabilization Policies and Structural Reforms in Albania Since 1997
			: Achievements And Remaining Challenges

Stabilization Policies and Structural Reforms in Albania Since 1997 : Achievements And Remaining Challenges »

Volume/Issue: 2002/2

Series: IMF Policy Discussion Papers

Author(s): Volker Treichel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451974508.003

ISBN: 9781451974508

Keywords: Economic stabilization, Albania, Albania, macroeconomic stabilization, structural reform, deficit, interest, budget, balance of payments, interest rates

This paper assesses the effectiveness of stabilization policies and structural reforms in Albania since 1997 and seeks to identify the remaining key challenges in various policy areas. It also draws lessons for oth...

Foreign Direct Investment in China
			: Some Lessons for Other Countries

Foreign Direct Investment in China : Some Lessons for Other Countries »

Volume/Issue: 2002/3

Series: IMF Policy Discussion Papers

Author(s): Harm Zebregs , and Wanda Tseng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451974171.003

ISBN: 9781451974171

Keywords: Foreign direct investment, China, fdi, investment, foreign investors, foreign investment

China's increasing openness to foreign direct investment (FDI) has contributed importantly to its exceptional growth performance. This paper examines China's experience with FDI and identifies some lessons for othe...

Public Financial Management
			: Principal Issues in Small Pacific Island Countries

Public Financial Management : Principal Issues in Small Pacific Island Countries »

Volume/Issue: 2002/1

Series: IMF Policy Discussion Papers

Author(s): Klaus-Walter Riechel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451974973.003

ISBN: 9781451974973

Keywords: Budgeting, Fiscal policy, Public financial management, Public finance, Pacific Island Countries, budget systems, small country issues, financial management, budget, output budgeting

The paper discusses reform in public financial management in small, resource-constrained economies such as the Pacific island countries (PICs). It describes the efforts undertaken by PICs in the past and assesses t...

Public Financial Management

Public Financial Management »

Source: Public Financial Management : Principal Issues in Small Pacific Island Countries

Volume/Issue: 2002/1

Series: IMF Policy Discussion Papers

Author(s): Klaus-Walter Riechel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451974973

Keywords: Budgeting, Fiscal policy, Public financial management, Public finance, Pacific Island Countries, budget systems, small country issues, financial management, budget, output budgeting

The paper discusses reform in public financial management in small, resource-constrained economies such as the Pacific island countries (PICs). It describes the efforts undertaken by PICs in the past and assesses t...

Stabilization Policies and Structural Reforms in Albania Since 1997

Stabilization Policies and Structural Reforms in Albania Since 1997 »

Source: Stabilization Policies and Structural Reforms in Albania Since 1997 : Achievements And Remaining Challenges

Volume/Issue: 2002/2

Series: IMF Policy Discussion Papers

Author(s): Volker Treichel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451974508

Keywords: Economic stabilization, Albania, Albania, macroeconomic stabilization, structural reform, deficit, interest, budget, balance of payments, interest rates

This paper assesses the effectiveness of stabilization policies and structural reforms in Albania since 1997 and seeks to identify the remaining key challenges in various policy areas. It also draws lessons for oth...

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities »

Volume/Issue: 2001/7

Series: IMF Policy Discussion Papers

Author(s): Mark Zelmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

DOI: http://dx.doi.org/10.5089/9781451971583.003

ISBN: 9781451971583

Keywords: Central banks, Central banks and their policies, Bonds, Monetary policy, Monetary policy, Monetary operations, central bank, government securities, balance sheets, financial institutions,

The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to the financial...

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities

Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities »

Source: Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities

Volume/Issue: 2001/7

Series: IMF Policy Discussion Papers

Author(s): Mark Zelmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451971583

Keywords: Central banks, Central banks and their policies, Bonds, Monetary policy, Monetary policy, Monetary operations, central bank, government securities, balance sheets, financial institutions,

The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to the financial...

Financial Sector Regulation and Supervision

Financial Sector Regulation and Supervision »

Source: Financial Sector Regulation and Supervision : The Case of Small Pacific Island Countries

Volume/Issue: 2001/6

Series: IMF Policy Discussion Papers

Author(s): Klaus-Walter Riechel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

ISBN: 9781451972146

Keywords: Bank regulations, Money laundering, Bank and nonbank financial intermediaries regulation and supervision, offshore financial sector issues, financial sector, financial sector regulation, technical assistance, international standards,

This paper discusses issues of financial sector regulation and supervision--including those concerning nonbank financial intermediaries--in small resource-constrained Pacific island countries. It advocates stronger...

Globalization Facts and Figures

Globalization Facts and Figures »

Source: Globalization Facts and Figures

Volume/Issue: 2001/4

Series: IMF Policy Discussion Papers

Author(s): Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

ISBN: 9781451973563

Keywords: Economic integration, Globalization, Trade liberalization, Trade, integration, mortality rate, life expectancy, infant mortality, birth, life expectancy at birth

Globalization has become the focus for a wide range of protests against various features of the world economy. This paper aims to give a concise summary of the economic dimensions of globalization, while leaving to...

Financial Sector Regulation and Supervision
			: The Case of Small Pacific Island Countries

Financial Sector Regulation and Supervision : The Case of Small Pacific Island Countries »

Volume/Issue: 2001/6

Series: IMF Policy Discussion Papers

Author(s): Klaus-Walter Riechel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

DOI: http://dx.doi.org/10.5089/9781451972146.003

ISBN: 9781451972146

Keywords: Bank regulations, Money laundering, Bank and nonbank financial intermediaries regulation and supervision, offshore financial sector issues, financial sector, financial sector regulation, technical assistance, international standards,

This paper discusses issues of financial sector regulation and supervision--including those concerning nonbank financial intermediaries--in small resource-constrained Pacific island countries. It advocates stronger...

Globalization Facts and Figures

Globalization Facts and Figures »

Volume/Issue: 2001/4

Series: IMF Policy Discussion Papers

Author(s): Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

DOI: http://dx.doi.org/10.5089/9781451973563.003

ISBN: 9781451973563

Keywords: Economic integration, Globalization, Trade liberalization, Trade, integration, mortality rate, life expectancy, infant mortality, birth, life expectancy at birth

Globalization has become the focus for a wide range of protests against various features of the world economy. This paper aims to give a concise summary of the economic dimensions of globalization, while leaving to...

Reviewing Some Early Poverty Reduction Strategy Papers in Africa

Reviewing Some Early Poverty Reduction Strategy Papers in Africa »

Volume/Issue: 2001/5

Series: IMF Policy Discussion Papers

Author(s): Caroline Kende-Robb , and Alison Scott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

DOI: http://dx.doi.org/10.5089/9781451972726.003

ISBN: 9781451972726

Keywords: Burkina Faso, Africa, Poverty, Mozambique, Mali, Gambia, The, Tanzania, Uganda, PRSP, poverty reduction

This paper reviews some early interim and full PRSPs for countries with which the authors worked during 1999-2000 (Uganda, Burkina Faso, Tanzania, Mozambique, Mali and The Gambia). The purpose of the review is to c...

Reviewing Some Early Poverty Reduction Strategy Papers in Africa

Reviewing Some Early Poverty Reduction Strategy Papers in Africa »

Source: Reviewing Some Early Poverty Reduction Strategy Papers in Africa

Volume/Issue: 2001/5

Series: IMF Policy Discussion Papers

Author(s): Caroline Kende-Robb , and Alison Scott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

ISBN: 9781451972726

Keywords: Burkina Faso, Africa, Poverty, Mozambique, Mali, Gambia, The, Tanzania, Uganda, PRSP, poverty reduction

This paper reviews some early interim and full PRSPs for countries with which the authors worked during 1999-2000 (Uganda, Burkina Faso, Tanzania, Mozambique, Mali and The Gambia). The purpose of the review is to c...

Providing Health Care to HIV Patients in Southern Africa

Providing Health Care to HIV Patients in Southern Africa »

Volume/Issue: 2001/3

Series: IMF Policy Discussion Papers

Author(s): Markus Haacker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

DOI: http://dx.doi.org/10.5089/9781451974140.003

ISBN: 9781451974140

Keywords: Botswana, Botswana, Namibia, Mozambique, Malawi, Lesotho, Health, Health care, Government expenditures, South Africa

The paper provides an economic analysis of the impact of HIV/AIDS on the health sector i Southern Africa. It provides indicators for the scale of the impact, including estimates of tr. costs of various forms treatm...

Providing Health Care to HIV Patients in Southern Africa

Providing Health Care to HIV Patients in Southern Africa »

Source: Providing Health Care to HIV Patients in Southern Africa

Volume/Issue: 2001/3

Series: IMF Policy Discussion Papers

Author(s): Markus Haacker

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451974140

Keywords: Botswana, Botswana, Namibia, Mozambique, Malawi, Lesotho, Health, Health care, Government expenditures, South Africa

The paper provides an economic analysis of the impact of HIV/AIDS on the health sector i Southern Africa. It provides indicators for the scale of the impact, including estimates of tr. costs of various forms treatm...

The IMF and Civil Society

The IMF and Civil Society »

Source: The IMF and Civil Society : Striking A Balance

Volume/Issue: 2001/2

Series: IMF Policy Discussion Papers

Author(s): Thomas Dawson , and Gita Bhatt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451974485

Keywords: IMF and Civil Society, NGOs, debt relief, poverty reduction, structural adjustment, macroeconomic policies, low-income countries,

In the space of just a few years, the term “civil society” has entered the international policy vocabulary in many contexts. The IMF’s engagement with civil society organizations (CSOs) raises...

The IMF and Civil Society
			: Striking A Balance

The IMF and Civil Society : Striking A Balance »

Volume/Issue: 2001/2

Series: IMF Policy Discussion Papers

Author(s): Thomas Dawson , and Gita Bhatt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

DOI: http://dx.doi.org/10.5089/9781451974485.003

ISBN: 9781451974485

Keywords: IMF and Civil Society, NGOs, debt relief, poverty reduction, structural adjustment, macroeconomic policies, low-income countries,

In the space of just a few years, the term “civil society” has entered the international policy vocabulary in many contexts. The IMF’s engagement with civil society organizations (CSOs) raises...

Economic Integration and the Exchange Rate Regime

Economic Integration and the Exchange Rate Regime »

Source: Economic Integration and the Exchange Rate Regime : Some Lessons from Canada

Volume/Issue: 2001/1

Series: IMF Policy Discussion Papers

Author(s): Vivek Arora , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451974942

Keywords: Canada, Canada, Economic integration, Floating exchange rates, Trade, United States, exchange rate regime, exchange rate, fixed exchange rate, interest rates

The Canadian experience with a floating exchange rate regime can shed some light on the question of whether A question of current interest in many parts of the world is whether with growing economic integration amo...

Economic Integration and the Exchange Rate Regime
			: Some Lessons from Canada

Economic Integration and the Exchange Rate Regime : Some Lessons from Canada »

Volume/Issue: 2001/1

Series: IMF Policy Discussion Papers

Author(s): Vivek Arora , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

DOI: http://dx.doi.org/10.5089/9781451974942.003

ISBN: 9781451974942

Keywords: Canada, Canada, Economic integration, Floating exchange rates, Trade, United States, exchange rate regime, exchange rate, fixed exchange rate, interest rates

The Canadian experience with a floating exchange rate regime can shed some light on the question of whether A question of current interest in many parts of the world is whether with growing economic integration amo...

Large-Scale Post-Crisis Corporate Sector Restructuring

Large-Scale Post-Crisis Corporate Sector Restructuring »

Volume/Issue: 2000/7

Series: IMF Policy Discussion Papers

Author(s): Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

DOI: http://dx.doi.org/10.5089/9781451971538.003

ISBN: 9781451971538

Keywords: Corporate sector, Financial crisis, Financial crises, Corporate restructuring, Financial restructuring, restructuring, recapitalization, debt restructuring, bank restructuring

This paper summarizes the objectives, tasks, and modalities of large-scale, post-crisis corporate restructuring based on nine recent episodes with a view to organizing the policy choices and drawing some general co...

Reconsidering External Financing of Domestic Budget Deficits
			: Debunking Some Received Wisdom

Reconsidering External Financing of Domestic Budget Deficits : Debunking Some Received Wisdom »

Volume/Issue: 2000/8

Series: IMF Policy Discussion Papers

Author(s): David Woo , and Simon Gray

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

DOI: http://dx.doi.org/10.5089/9781451970951.003

ISBN: 9781451970951

Keywords: Debt management, Budget deficits, External financing, foreign currency denominated sovereign debt, foreign currency, domestic currency, exchange rate, foreign exchange, foreign investors

The past decade has witnessed a steady increase in outstanding external sovereign debt issued by emerging market economies. This paper examines some of the “received wisdom” regarding the benefits of...