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Assessing Reserve Adequacy in Low-Income Countries

Assessing Reserve Adequacy in Low-Income Countries »

Series: Occasional Papers

Author(s): Valerio Crispolti , Era Dabla-Norris , Jun Kim , Kazuko Shirono , and George Tsibouris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2013

DOI: http://dx.doi.org/10.5089/9781616354121.084

ISBN: 9781616354121

Keywords: External shocks, reserve holdings, consumption growth, terms of trade, current account

Low-income countries routinely experience exogenous disturbances—sharp swings in the terms of trade, export demand, natural disasters, and volatile financial flows—that contribute to higher volatility...

The Challenge of Public Pension Reform in Advanced and Emerging Economies

The Challenge of Public Pension Reform in Advanced and Emerging Economies »

Series: Occasional Papers

Author(s): Benedict Clements , David Coady , Frank Eich , Sanjeev Gupta , Alvar Kangur , Baoping Shang , and Mauricio Soto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2013

DOI: http://dx.doi.org/10.5089/9781616354138.084

ISBN: 9781616354138

Keywords: Cross country analysis, Developed countries, Emerging markets, Government expenditures, Pension reforms, Pensions, pension, retirement, pension spending, public pension

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population...

External Performance in Low-Income Countries

External Performance in Low-Income Countries »

Series: Occasional Papers

Author(s): Alessandro Prati , Luca Ricci , Lone Engbo Christiansen , Stephen Tokarick , and Thierry Tressel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

DOI: http://dx.doi.org/10.5089/9781616350536.084

ISBN: 9781616350536

Keywords: External sector, Low-income developing countries, Real effective exchange rates, exchange rate, current account, real exchange rate, foreign assets, net foreign assets

Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poo...

The Role of the Exchange Rate in Inflation-Targeting Emerging Economies
			: Targeting Emerging Economies

The Role of the Exchange Rate in Inflation-Targeting Emerging Economies : Targeting Emerging Economies »

Series: Occasional Papers

Author(s): Anna Nordstrom , Scott Roger , Mark Stone , Seiichi Shimizu , Turgut Kisinbay , and Jorge Restrepo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2009

DOI: http://dx.doi.org/10.5089/9781589067967.084

ISBN: 9781589067967

Keywords: Developing countries, Central bank role, Emerging markets, Exchange rates, Inflation targeting, exchange rate, foreign exchange, inflation, monetary policy

This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that has become especially germane during the current episode of financial turmoil and volatile capita...

Fiscal Implications of the Global Economic and Financial Crisis

Fiscal Implications of the Global Economic and Financial Crisis »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2009

DOI: http://dx.doi.org/10.5089/9781589068506.084

ISBN: 9781589068506

Keywords: Budgets, Developed countries, Emerging markets, Financial institutions, Public finance, Pension funds, Global Financial Crisis 2008-2009, Fiscal stability, financial sector, deposit insurance

The economic and financial crisis is affecting the fiscal accounts of virtually every country. Public sector support for the financial system, fiscal stimulus and the automatic stabilizers, as well as the revenue d...

Exchange Rate Assessments
			: CGER Methodologies

Exchange Rate Assessments : CGER Methodologies »

Series: Occasional Papers

Author(s): Jaewoo Lee , Jonathan Ostry , Alessandro Prati , Luca Ricci , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2008

DOI: http://dx.doi.org/10.5089/9781589066380.084

ISBN: 9781589066380

Keywords: Exchange rates, Exchange rate assessments, current account, exchange rate, current account balance, real exchange rate

The rapid increase in international trade and financial integration over the past decade and the growing importance of emerging markets in world trade and GDP have inspired the IMF to place stronger emphasis on mul...

Budget System Reform in Emerging Economies
			: The Challenges and the Reform Agenda

Budget System Reform in Emerging Economies : The Challenges and the Reform Agenda »

Series: Occasional Papers

Author(s): Jack Diamond

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 April 2006

DOI: http://dx.doi.org/10.5089/9781589064744.084

ISBN: 9781589064744

Keywords: Budgetary reforms, Public finance, Government accounting, budget management, accrual accounting, performance budgeting, budget systems, budget system

With increasing frequency, the IMF has assisted middle-income countries, especially emerging economies, in adopting the types of budget reforms that have been introduced in many Organization for Economic Cooperatio...

The Design of IMF-Supported Programs

The Design of IMF-Supported Programs »

Series: Occasional Papers

Author(s): Charalambos Christofides , Atish Ghosh , Uma Ramakrishnan , Alun Thomas , Laura Papi , Juan Zalduendo , and Jun Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2005

DOI: http://dx.doi.org/10.5089/9781589061934.084

ISBN: 9781589061934

Keywords: current account, current account balance, inflation, capital account, balance of payments

This collection of papers examines IMF-supported programs over the period 1995-2000 in both middle-income and low-income countries. In order to seek insights from a comparison across different types of programs, th...

A New Look at Exchange Rate Volatility and Trade Flows

A New Look at Exchange Rate Volatility and Trade Flows »

Series: Occasional Papers

Author(s): Peter Clark , Shang-Jin Wei , Natalia Tamirisa , Azim Sadikov , and Li Zeng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2004

DOI: http://dx.doi.org/10.5089/9781589063587.084

ISBN: 9781589063587

Keywords: Capital flows, Exchange rates, Trade, exchange rate, exchange rate volatility, real exchange rate, bilateral trade

The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s a...

Managing Systemic Banking Crises

Managing Systemic Banking Crises »

Series: Occasional Papers

Author(s): Marc Quintyn , and David Hoelscher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2003

DOI: http://dx.doi.org/10.5089/9781589062245.084

ISBN: 9781589062245

Keywords: Banking, banking crises, recapitalization, debt restructuring, deposit insurance

Recent financial sector crises and their resolution have raised new issues and provided additional experiences to draw on in the future. Banking sector problems in Russia, Turkey, and a few Latin American countries...

Deflation
			: Determinants, Risks, and Policy Options

Deflation : Determinants, Risks, and Policy Options »

Series: Occasional Papers

Author(s): Taimur Baig , Jörg Decressin , Tarhan Feyzioglu , Manmohan Kumar , and Chris Faulkner-MacDonagh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2003

DOI: http://dx.doi.org/10.5089/9781589062276.084

ISBN: 9781589062276

Keywords: inflation, monetary policy, aggregate demand, money supply, low inflation

Deflation can be costly and difficult to anticipate, and concerns of a generalized decline in prices in both industrial and emerging market economies have increased recently. This paper investigates the causes and...

Fiscal Vulnerability and Financial Crises in Emerging Market Economies

Fiscal Vulnerability and Financial Crises in Emerging Market Economies »

Series: Occasional Papers

Author(s): Richard Hemming , Axel Schimmelpfennig , and Michael Kell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 May 2003

DOI: http://dx.doi.org/10.5089/9781589061965.084

ISBN: 9781589061965

Keywords: Emerging markets, fiscal variables, public debt, currency crises, fiscal policy, external debt

Fiscal problems have long been considered a central feature of financial--that is, currency, debt, and banking--crises. This paper addresses four questions: What are the fiscal causes of crises? Which fiscal vulner...

Improving Large Taxpayers' Compliance
			: A Review of Country Experience

Improving Large Taxpayers' Compliance : A Review of Country Experience »

Series: Occasional Papers

Author(s): Olivier Benon , Katherine Baer , and Juan Toro R.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2002

DOI: http://dx.doi.org/10.5089/9781589061187.084

ISBN: 9781589061187

Keywords: Taxes, Taxation, tax administration, large taxpayers, tax collection, tax administrations, taxpayer compliance

One area that has not been reviewed in developing countries is the growing focus on different segments of the taxpayer population-including the large taxpayers-as a way to encourage greater stability in public reve...

Exchange Rate Regimes in an Increasingly Integrated World Economy

Exchange Rate Regimes in an Increasingly Integrated World Economy »

Series: Occasional Papers

Author(s): Andrew Berg , Paolo Mauro , Michael Mussa , Alexander Swoboda , Esteban Jadresic , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 August 2000

DOI: http://dx.doi.org/10.5089/9781557758927.084

ISBN: 9781557758927

Keywords: exchange rate, exchange rates, exchange rate regime, exchange rate regimes, transition countries

This paper examines the consequences of heightened capital mobility and of the integration of developing economies in increasingly globalized markets for the exchange rate regimes of the industrial, developing, and...

Capital Controls
			: Country Experiences with Their Use and Liberalization

Capital Controls : Country Experiences with Their Use and Liberalization »

Series: Occasional Papers

Author(s): Akira Ariyoshi , Andrei Kirilenko , Inci Ötker , Bernard Laurens , Jorge Canales Kriljenko , and Karl Habermeier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2000

DOI: http://dx.doi.org/10.5089/9781557758743.084

ISBN: 9781557758743

Keywords: capital inflows, exchange rate, capital controls, capital flows, foreign exchange

This paper examines country experiences with the use and liberalization of capital controls to develop a deeper understanding of the role of capital controls in coping with volatile capital flows, as well as the is...

Macroprudential Indicators of Financial System Soundness

Macroprudential Indicators of Financial System Soundness »

Series: Occasional Papers

Author(s): Paul Hilbers , Alfredo Leone , Mahinder Gill , and Owen Evens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2000

DOI: http://dx.doi.org/10.5089/9781557758910.084

ISBN: 9781557758910

Keywords: financial institutions, banking, financial system, financial sector, standards

Following the severe financial crises of the 1990s, identifying and assessing financial sector vulnerabilities has become a key priority of the international community. The costly disruptions in global markets unde...

Anticipating Balance of Payments Crises--The Role of Early Warning Systems
			: The Role of Early Warning Systems

Anticipating Balance of Payments Crises--The Role of Early Warning Systems : The Role of Early Warning Systems »

Series: Occasional Papers

Author(s): Catherine Pattillo , Andrew Berg , Gian Milesi-Ferretti , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2000

DOI: http://dx.doi.org/10.5089/9781557758286.084

ISBN: 9781557758286

Keywords: currency crises, probability, balance of payments, contagion, currency crisis

Recent years have witnessed an increase in the frequency of currency and balance of payments crises in developing countries. More important, the crises have become more virulent, have caused widespread disruption t...

Exit Strategies
			: Policy Options for Countries Seeking Exchange Rate Flexibility

Exit Strategies : Policy Options for Countries Seeking Exchange Rate Flexibility »

Series: Occasional Papers

Author(s): Barry Eichengreen , Inci Ötker , A. Hamann , Esteban Jadresic , R. Johnston , Hugh Bredenkamp , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 August 1998

DOI: http://dx.doi.org/10.5089/9781557757340.084

ISBN: 9781557757340

Keywords: exchange rate, inflation, exchange rate regime, monetary policy, monetary fund

In a world of increasing capital mobility and broadening and more diversified trade, many (but not all) developing and transition economies are likely to find it desirable to move from relatively fixed exchange rat...

Exchange Rate Assessment
			: Extension of the Macroeconomic Balance Approach

Exchange Rate Assessment : Extension of the Macroeconomic Balance Approach »

Series: Occasional Papers

Author(s): Peter Isard , and Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 July 1998

DOI: http://dx.doi.org/10.5089/9781557757319.084

ISBN: 9781557757319

Keywords: Exchange rates, current account, exchange rate, real exchange rate, current accounts

The IMF's internal analysis of exchange rate issues has been guided by, and limited by, the conceptual and empirical frameworks that have emerged from the collective research of the economics profession. The resear...

Fiscal Policy Rules

Fiscal Policy Rules »

Series: Occasional Papers

Author(s): George Kopits , and Steven Symansky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 1998

DOI: http://dx.doi.org/10.5089/9781557757043.017

ISBN: 9781557757043

Keywords: fiscal policy, fiscal rules, public debt, fiscal policy rules, fiscal rule

What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute...

Hedge Funds and Financial Market Dynamics

Hedge Funds and Financial Market Dynamics »

Series: Occasional Papers

Author(s): Anne Jansen , Donald Mathieson , Barry Eichengreen , Laura Kodres , Bankim Chadha , and Sunil Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1998

DOI: http://dx.doi.org/10.5089/9781557757364.084

ISBN: 9781557757364

Keywords: hedge funds, hedge, hedge fund, bond, macro hedge

Hedge funds are collective investment vehicles, often organized as private partnerships and resident offshore for tax and regulatory purposes. Their legal status places few restrictions on their portfolios and tran...

Fiscal Reforms in Low-Income Countries

Fiscal Reforms in Low-Income Countries »

Series: Occasional Papers

Author(s): Benedict Clements , Liam Ebrill , Sanjeev Gupta , Anthony Pellechio , Jerald Schiff , George Abed , Ronald McMorran , and Marijn Verhoeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 March 1998

DOI: http://dx.doi.org/10.5089/9781557757173.084

ISBN: 9781557757173

Keywords: Developing countries, expenditure, tax administration, tax revenue, wage, expenditures

The reform of fiscal policies and institutions lies at the heart of structural adjustment in developing countries. Although the immediate aim of such reform is to reduce fiscal imbalances to achieve macroeconomic s...

Transparency in Government Operations

Transparency in Government Operations »

Series: Occasional Papers

Author(s): George Kopits , and J. Craig

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 February 1998

DOI: http://dx.doi.org/10.5089/9781557756978.084

ISBN: 9781557756978

Keywords: fiscal transparency, fiscal policy, quasi-fiscal activities, fiscal activities, budget process

Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its A...

Pension Regimes and Saving

Pension Regimes and Saving »

Series: Occasional Papers

Author(s): Alfredo Cuevas , George Mackenzie , and Philip Gerson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 September 1997

DOI: http://dx.doi.org/10.5089/9781557756404.084

ISBN: 9781557756404

Keywords: pension, retirement, benefits, pensions, pension plans

Public pension systems around the world have been criticized in recent years for some serious flaws, including the excessive burden they impose on the public finances and their depressing impact on saving rates. Th...

The Composition of Fiscal Adjustment and Growth
			: Lessons from Fiscal Reforms in Eight Economies

The Composition of Fiscal Adjustment and Growth : Lessons from Fiscal Reforms in Eight Economies »

Series: Occasional Papers

Author(s): George Mackenzie , Philip Gerson , and David Orsmond

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 1997

DOI: http://dx.doi.org/10.5089/9781557756299.084

ISBN: 9781557756299

Keywords: expenditure, public expenditure, fiscal policy, capital expenditure, expenditure management

This study examines the composition of fiscal adjustment - tax and expenditure policies and administrative procedures, and some aspects of public enterprise reform - in a sample of eight countries (Bangladesh, Chil...

Aging Populations and Public Pension Schemes

Aging Populations and Public Pension Schemes »

Series: Occasional Papers

Author(s): Sheetal Chand , and Albert Jaeger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 1996

DOI: http://dx.doi.org/10.5089/9781557756206.084

ISBN: 9781557756206

Keywords: Aging, pension, public pension, retirement, contribution rates

This paper discusses a study analyzing aging populations and public pension schemes. An aging society is characterized by a growing proportion of the retired to the active working population. The study examines the...

Exchange Rate Movements and Their Impact on Trade and Investment in the APEC Region

Exchange Rate Movements and Their Impact on Trade and Investment in the APEC Region »

Series: Occasional Papers

Author(s): Takatoshi Ito , Tamim Bayoumi , Peter Isard , and Steven Symansky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 1996

DOI: http://dx.doi.org/10.5089/9781557756008.084

ISBN: 9781557756008

Keywords: exchange rate, exchange rates, fdi, real exchange rate, real exchange rates

The 18 members of the Asia-Pacific Economic Cooperation Council (APEC) encompass not only a wide geographic area but also broad differences in stages of economic development, including among them some of the fastes...

Reinvigorating Growth in Developing Countries
			: Lessons from Adjustment Policies in Eight Economies

Reinvigorating Growth in Developing Countries : Lessons from Adjustment Policies in Eight Economies »

Series: Occasional Papers

Author(s): Kalpana Kochhar , Erik Offerdal , Louis Dicks-Mireaux , Mauro Mecagni , Jianping Zhou , Balázs Horváth , David Goldsbrough , and Sharmini Coorey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 August 1996

DOI: http://dx.doi.org/10.5089/9781557755599.084

ISBN: 9781557755599

Keywords: inflation, terms of trade, private investment, external financing, wages

This study examines the links between adjustment policies and growth in a small group of developing countries- Bangladesh, Chile, Ghana, India, Mexico, Morocco, Senegal, and Thailand - during 1970 -93. It provides...

Capital Account Convertibility
			: Review of Experience and Implications for IMF Policies

Capital Account Convertibility : Review of Experience and Implications for IMF Policies »

Series: Occasional Papers

Author(s): Owen Evens , and Peter Quirk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 1995

DOI: http://dx.doi.org/10.5089/9781557755247.084

ISBN: 9781557755247

Keywords: capital movements, capital account, capital account liberalization, capital inflows, capital controls

The paper summarizes the main issues arising from experiences of industrial and developing countries with capital account liberalization and it examines the IMF's treatment of capital controls in its surveillance,...

Capital Flows in the APEC Region

Capital Flows in the APEC Region »

Series: Occasional Papers

Author(s): Carmen Reinhart , and Mohsin Khan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 1995

DOI: http://dx.doi.org/10.5089/9781557754660.084

ISBN: 9781557754660

Keywords: capital inflows, capital flows, bond, bonds, bond issues

The developing economies of the Asia Pacific Economic Cooperation (APEC) have been the recipients of a considerable volume of capital inflows in the 1990s. Given the increased integration of capital markets, it is...

The Adoption of Indirect Instruments of Monetary Policy

The Adoption of Indirect Instruments of Monetary Policy »

Series: Occasional Papers

Author(s): Tomás Baliño , Charles Enoch , and William Alexander

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

DOI: http://dx.doi.org/10.5089/9781557754899.084

ISBN: 9781557754899

Keywords: central bank, monetary policy, banking, monetary control, banking system

This paper examines the experience of implementing indirect instruments of monetary policy. The experiences of country studies illustrate the variety of circumstances under which indirect instruments of monetary po...

Improving the International Monetary System
			: Constraints and Possibilities

Improving the International Monetary System : Constraints and Possibilities »

Series: Occasional Papers

Author(s): Morris Goldstein , Donald Mathieson , Tamim Bayoumi , Michael Mussa , and Peter Clark

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 1995

DOI: http://dx.doi.org/10.5089/9781557754448.084

ISBN: 9781557754448

Keywords: exchange rate, exchange rates, capital markets, international capital markets, international capital

This study addresses major policy issues associated with the future of the international monetary system. It focuses on whether there is a need for fundamental reform of this system, defined as systematic and susta...

Exchange Rates and Economic Fundamentals
			: A Framework for Analysis

Exchange Rates and Economic Fundamentals : A Framework for Analysis »

Series: Occasional Papers

Author(s): Steven Symansky , Peter Clark , Leonardo Bartolini , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1994

DOI: http://dx.doi.org/10.5089/9781557754516.084

ISBN: 9781557754516

Keywords: Exchange rates, exchange rate, real exchange rate, current account, real exchange rates

This paper summarizes the methods and types of indicators that are often employed, both insid and outside the IMF, to assess whether exchange rates are broadly in line with economic fundamentals....

Recent Experiences with Surges in Capital Inflows

Recent Experiences with Surges in Capital Inflows »

Series: Occasional Papers

Author(s): Robert Kahn , Adam Bennett , María Carkovic S. , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1993

DOI: http://dx.doi.org/10.5089/9781557753502.084

ISBN: 9781557753502

Keywords: capital inflows, exchange rate, foreign exchange, capital outflows, current account

This paper explores the experience of six countries (Chile, Colombia, Egypt, Mexico, Spain and Thailand) with capital inflows. It illustrates that although capital inflows are usually beneficial, too great an inflo...

Economic Adjustment in Low-Income Countries
			: Experience Under the Enhanced Structural Adjustment Facility

Economic Adjustment in Low-Income Countries : Experience Under the Enhanced Structural Adjustment Facility »

Series: Occasional Papers

Author(s): F. Rozwadowski , Siddharth Tiwari , David Robinson , and Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

DOI: http://dx.doi.org/10.5089/9781557753366.084

ISBN: 9781557753366

Keywords: current account, export prices, export volume, external debt, terms of trade

This paper evaluates progress made under ESAF-supported programs in attaining external viability, restoring economic growth, and implementing structural reforms. Performance is evaluated for 19 countries that enter...

Policy Issues in the Evolving International Monetary System

Policy Issues in the Evolving International Monetary System »

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

DOI: http://dx.doi.org/10.5089/9781557752345.084

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

How can international monetary stability be promoted? This study looks at ways to bolster economic policies and coordination among the industrial countries serving as nominal anchors for the world economy. It also...

Characteristics of a Successful Exchange Rate System

Characteristics of a Successful Exchange Rate System »

Series: Occasional Papers

Author(s): Paul Masson , Morris Goldstein , and Jacob Frenkel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1991

DOI: http://dx.doi.org/10.5089/9781557752154.084

ISBN: 9781557752154

Keywords: exchange rate, exchange rates, current account, inflation, monetary fund

This study identifies the key characteristics of a successful exchange rate system. It focuses on regimes in the industrial countries and consider the implications for the operation of the international monetary sy...

Managing Financial Risks in indebted Developing Countries
			: Occa Paper No.65

Managing Financial Risks in indebted Developing Countries : Occa Paper No.65 »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1989

DOI: http://dx.doi.org/10.5089/9781557751164.084

ISBN: 9781557751164

Keywords: hedging, futures contracts, hedge, futures contract, futures markets

This paper examines the types of market-related hedging instruments that could potentially be useful to indebted developing countries as they seek to manage the financial risks created by variability of the prices...

Floating Exchange Rates in Developing Countries
			: Experience with Auction and Interbank Markets

Floating Exchange Rates in Developing Countries : Experience with Auction and Interbank Markets »

Series: Occasional Papers

Author(s): Kyong Huh , Benedicte Christensen , Peter Quirk , and Toshihiko Sasaki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1987

DOI: http://dx.doi.org/10.5089/9780939934898.084

ISBN: 9780939934898

Keywords: foreign exchange, exchange rate, exchange rates, floating exchange rate, floating exchange rates

In recent years, an increasing number of developing countries have adopted market-determined floating exchange rates. This development has represented a significant step forward in the evolution toward exchange rat...

Strengthening the International Monetary System
			: Exchange Rates, Surveillance, and Objective Indicators

Strengthening the International Monetary System : Exchange Rates, Surveillance, and Objective Indicators »

Series: Occasional Papers

Author(s): Andrew Crockett , and Morris Goldstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 1987

DOI: http://dx.doi.org/10.5089/9780939934768.084

ISBN: 9780939934768

Keywords: exchange rate, exchange rates, exchange rate policies, balance of payments, exchange rate system

This report comprises three papers written by staff members of the Fund's Research Department on issues arising out of the reports on the international monetary system prepared in 1985 by the Group of Ten (represen...

Aging and Social Expenditure in the Major Industrial Countries, 1980-2025

Aging and Social Expenditure in the Major Industrial Countries, 1980-2025 »

Series: Occasional Papers

Author(s): Edgardo Ruggiero , Peter Heller , Menachem Katz , Robert Feldman , Richard Hemming , Peter Kohnert , Ziba Farhadian , Donogh McDonald , Ahsan Mansur , and Bernard Nivollet

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1986

DOI: http://dx.doi.org/10.5089/9780939934683.084

ISBN: 9780939934683

Keywords: expenditure, pension, social expenditure, pensions, unemployment

Most of the seven major industrial countries are now experiencing significant changes in their demographic structure. A persistent pattern of declining fertility and improving life expectancy has created major segm...

Fund-Supported Programs, Fiscal Policy, and Income Distribution

Fund-Supported Programs, Fiscal Policy, and Income Distribution »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1986

DOI: http://dx.doi.org/10.5089/9780939934645.084

ISBN: 9780939934645

Keywords: taxation, expenditure, salaries, subsidies, income distribution

This is the third in a group of three papers dealing with various aspects of Fund-supported adjustment programs....

International Capital Markets
			: Developments and Prospects

International Capital Markets : Developments and Prospects »

Series: Occasional Papers

Author(s): Donald Mathieson , Eliot Kalter , Maxwell Watson , and G. Kincaid

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 1986

DOI: http://dx.doi.org/10.5089/9780939934591.084

ISBN: 9780939934591

Keywords: bond, bonds, claims, bond issues, international capital markets

This paper provides a description and analysis of recent developments in international capital markets and an assessment of the prospects for private financing flows....

Export Credit Cover Policies and Payments Difficulties

Export Credit Cover Policies and Payments Difficulties »

Series: Occasional Papers

Author(s): Chanpen Puckahtikom , and Eduard Brau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 1985

DOI: http://dx.doi.org/10.5089/9780939934492.084

ISBN: 9780939934492

Keywords: export credit, export credit agencies, debtor countries, export credits, debtor country

In the current environment of payments difficulties, a principal role of the Fund remains the encouragement and support of timely adjustment policies of member countries....

Formulation of Exchange Rate Policies in Adjustment Programs

Formulation of Exchange Rate Policies in Adjustment Programs »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 1985

DOI: http://dx.doi.org/10.5089/9780939934508.084

ISBN: 9780939934508

Keywords: exchange rate, exchange rate policy, exchange rate action, exchange rate policies, effective exchange rate

The role of exchange rate policy in economic adjustment has been widely studied and is the subject of numerous theoretical and empirical papers produced in the Fund and elsewhere....

Foreign Private Investment in Developing Countries

Foreign Private Investment in Developing Countries »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 1985

DOI: http://dx.doi.org/10.5089/9781557750662.084

ISBN: 9781557750662

Keywords: direct investment, foreign investment, foreign direct investment, industrial countries, foreign ownership

Since the early 1970s foreign direct and portfolio equity investment flows into developing countries, although continuing to increase in absolute terms, have been relatively less important than in previous years, a...

World Economic Outlook
			: September 1984

World Economic Outlook : September 1984 »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 1984

DOI: http://dx.doi.org/10.5089/9781557750860.084

ISBN: 9781557750860

Keywords: current account, oil exporting countries, exports of goods, exporters, official creditors

Recent indicators suggest that activity in the world economy is strengthening more rapidly than projected by the staff six months ago. This is especially true of the United States, but the staff has also revised up...

The Exchange Rate System
			: Lessons of the Past and Options for the Future

The Exchange Rate System : Lessons of the Past and Options for the Future »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 1984

DOI: http://dx.doi.org/10.5089/9781557750648.084

ISBN: 9781557750648

Keywords: exchange rate, exchange rates, exchange rate system, exchange rate movements, balance of payments

The last few years have witnessed a resurgence of calls for a re-examination, or perhaps even a reform, of the international monetary system. This paper contributes to the ongoing debate on that subject in three wa...

Exchange Rate Volatility and World Trade

Exchange Rate Volatility and World Trade »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 1984

DOI: http://dx.doi.org/10.5089/9781557750655.084

ISBN: 9781557750655

Keywords: exchange rate, exchange rates, exchange rate variability, trade flows, exchange rate movements

In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed...

Issues in the Assessment of the Exchange Rates of Industrial Countries

Issues in the Assessment of the Exchange Rates of Industrial Countries »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 1984

DOI: http://dx.doi.org/10.5089/9781557750761.084

ISBN: 9781557750761

Keywords: Developed countries, Exchange rates, exchange rate, current account, capital flows, effective exchange rate

In its surveillance activities, the Fund is frequently confronted with the difficult problem of how to identify exchange rate behavior that is unrelated to underlying economic and financial conditions and, conseque...

World Economic Outlook

World Economic Outlook »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 1984

DOI: http://dx.doi.org/10.5089/9781557750853.084

ISBN: 9781557750853

Keywords: current account, balance of payments, current account deficit, exporting countries, debt service

Although still beset with many problems, the world economy took a decided turn for the better in 1983....

Government Employment and Pay
			: Some International Comparisons

Government Employment and Pay : Some International Comparisons »

Series: Occasional Papers

Author(s): Alan Tait , and Peter Heller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 1983

DOI: http://dx.doi.org/10.5089/9781557750686.084

ISBN: 9781557750686

Keywords: employment, wage, wages, government employment, salaries

How many people are employed by the government? How many are employed by the central government compared with the state and local authorities? How many are employed in public enterprise? How much are they all paid?...

Developments in International Trade Policy

Developments in International Trade Policy »

Series: Occasional Papers

Author(s): Naheed Kirmani , Lorenzo Pérez , Shailendra Anjaria , and Zubair Iqbal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 1982

DOI: http://dx.doi.org/10.5089/9781557750600.084

ISBN: 9781557750600

Keywords: export subsidies, milk, international trade, dairy, world trade

This paper contains further work by the Fund staff on trade issues and developments following the pattern of the surveys prepared in 1978 and 1981, mainly focusing on commercial policies of the major trading nation...

Effects of Slowdown in Industrial Countries on Growth in Non-Oil Developing Countries

Effects of Slowdown in Industrial Countries on Growth in Non-Oil Developing Countries »

Series: Occasional Papers

Author(s): Mohsin Khan , and Morris Goldstein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 1982

DOI: http://dx.doi.org/10.5089/9781557750624.084

ISBN: 9781557750624

Keywords: oil developing countries, exporters, export growth, oil exporters, oil exporting countries

One of the more important yet puzzling aspects of the recent global stagflation has been the rather surprising resiliency of growth rates of real income in non-oil developing countries during the 1973-80 period in...

International Capital Markets
			: Recent Develpments and Short-Term Prospects, 1981

International Capital Markets : Recent Develpments and Short-Term Prospects, 1981 »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 1981

DOI: http://dx.doi.org/10.5089/9781557750709.084

ISBN: 9781557750709

Keywords: bond, capital markets, international capital markets, capital market, bond issues

This paper provides a review of recent developments and an assessment of short-term prospects for private international capital markets, which constitute one of the main sources of international capital flows....

Trade Policy Developments in Industrial Countries

Trade Policy Developments in Industrial Countries »

Series: Occasional Papers

Author(s): Wanda Tseng , Lorenzo Pérez , Zubair Iqbal , and Shailendra Anjaria

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 1981

DOI: http://dx.doi.org/10.5089/9781557750822.084

ISBN: 9781557750822

Keywords: international trade, oil exporting, exporting developing countries, bilateral agreements, quantitative restrictions

This study reviews recent developments in international trade policies in selected industrial countries. It was prepared for the June 1981 World Economic Outlook....