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The Fiscal Costs of Contingent Liabilities

The Fiscal Costs of Contingent Liabilities »

Volume/Issue: 2016/14

Series: IMF Working Papers

Author(s): Elva Bova , Marta Ruiz-Arranz , Frederik Toscani , and H. Elif Ture

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 February 2016

DOI: http://dx.doi.org/10.5089/9781498303606.001

ISBN: 9781498303606

Keywords: Fiscal Crisis, General, All Countries,, Budget deficits, Public debt, Contingent liabilities

We construct the first comprehensive dataset of contingent liability realizations in advanced and emerging markets for the period 1990–2014. We find that contingent liability realizations are a major source of fisc...

Commodity Price Shocks and Financial Sector Fragility

Commodity Price Shocks and Financial Sector Fragility »

Volume/Issue: 2016/12

Series: IMF Working Papers

Author(s): Tidiane Kinda , Montfort Mlachila , and Rasmané Ouedraogo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2016

DOI: http://dx.doi.org/10.5089/9781498328722.001

ISBN: 9781498328722

Keywords: financial sector fragility, commodity, price, commodity price, prices, financial sector, General, Financial Markets and the Macroeconomy, Government Policy and Regulation, All Countries

This paper investigates the impact of commodity price shocks on financial sector fragility. Using a large sample of 71 commodity exporters among emerging and developing economies, it shows that negative shocks to c...

How Do Public Debt Cycles Interact with Financial Cycles?

How Do Public Debt Cycles Interact with Financial Cycles? »

Volume/Issue: 2015/248

Series: IMF Working Papers

Author(s): Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2015

DOI: http://dx.doi.org/10.5089/9781513511641.001

ISBN: 9781513511641

Keywords: public debt cycles, credit cycles, asset price cycles, duration analysis, debt, public debt, price, prices, equity, General

We employ a duration model to study determinants of public debt cycles in 57 advanced and emerging economies over the 1960-2014 period, with a particular focus on the impact of financial cycles. The results suggest...

Inflation Targeting and Exchange Rate Regimes in Emerging Markets

Inflation Targeting and Exchange Rate Regimes in Emerging Markets »

Volume/Issue: 2015/228

Series: IMF Working Papers

Author(s): Christian Ebeke , and Armand Fouejieu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 October 2015

DOI: http://dx.doi.org/10.5089/9781513586267.001

ISBN: 9781513586267

Keywords: Inflation targeting, Exchange rate regime, Non-linearities, exchange rate, inflation, central bank, General, Globalization: General, All Countries,

This paper investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions. Using a large sample...

Base Erosion, Profit Shifting and Developing Countries

Base Erosion, Profit Shifting and Developing Countries »

Volume/Issue: 2015/118

Series: IMF Working Papers

Author(s): Ernesto Crivelli , Ruud A. Mooij , and Michael Keen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2015

DOI: http://dx.doi.org/10.5089/9781513563831.001

ISBN: 9781513563831

Keywords: Corporate income tax, BEPS, tax avoidance, international taxation, tax, tax rates, tax rate, tax bases, tax base, Business Taxes and Subsidies

International corporate tax issues are prominent in public debate, notably with the G20-OECD project addressing Base Erosion and Profit Shifting (‘BEPS'). But while there is considerable empirical evidence for adva...

Fiscal Decentralization and the Efficiency of Public Service Delivery

Fiscal Decentralization and the Efficiency of Public Service Delivery »

Volume/Issue: 2015/59

Series: IMF Working Papers

Author(s): Moussé Sow , and Ivohasina Razafimahefa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2015

DOI: http://dx.doi.org/10.5089/9781484351116.001

ISBN: 9781484351116

Keywords: Decentralization, efficiency, stochastic frontier analysis, fiscal decentralization, public expenditure, expenditure, Methodological Issues: General, Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation, General, Intergovernmental Relations,

This paper explores the impact of fiscal decentralization on the efficiency of public service delivery. It uses a stochastic frontier method to estimate time-varying efficiency coefficients and analyzes the impact...

A Quality of Growth Index for Developing Countries
			: A Proposal

A Quality of Growth Index for Developing Countries : A Proposal »

Volume/Issue: 2014/172

Series: IMF Working Papers

Author(s): Montfort Mlachila , Rene Tapsoba , and Sampawende Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2014

DOI: http://dx.doi.org/10.5089/9781498379274.001

ISBN: 9781498379274

Keywords: Quality of growth, primary school, primary school completion rate, primary school completion, pro-poor, General, General, Measurement and Analysis of Poverty,

This paper proposes a new quality of growth index (QGI) for developing countries. The index encompasses both the intrinsic nature and social dimensions of growth, and is computed for over 90 countries for the perio...

Deposit Insurance Database

Deposit Insurance Database »

Volume/Issue: 2014/118

Series: IMF Working Papers

Author(s): Asli Demirgüç-Kunt , Edward Kane , and Luc Laeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2014

DOI: http://dx.doi.org/10.5089/9781498354479.001

ISBN: 9781498354479

Keywords: banking, deposit insurance scheme, deposit guarantee, banking crisis, General,

This paper provides a comprehensive, global database of deposit insurance arrangements as of 2013. We extend our earlier dataset by including recent adopters of deposit insurance and information on the use of gover...

Emerging Markets in Transition
			: Growth Prospects and Challenges

Emerging Markets in Transition : Growth Prospects and Challenges »

Volume/Issue: 2014/6

Series: Staff Discussion Notes

Author(s): Luis Cubeddu , Alexander Culiuc , Ghada Fayad , Yuan Gao , Kalpana Kochhar , Annette Kyobe , Ceyda Oner , Roberto Perrelli , Sarah Sanya , Evridiki Tsounta , and Zhongxia Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2014

DOI: http://dx.doi.org/10.5089/9781498327664.006

ISBN: 9781498327664

Keywords: Emerging markets, growth, potential growth, convergence, heterogeneity, structural reform, productivity, terms of trade, trading partners, commodity prices

After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the po...

A Hybrid Approach to Estimating the Efficiency of Public Spending on Education in Emerging and Developing Economies

A Hybrid Approach to Estimating the Efficiency of Public Spending on Education in Emerging and Developing Economies »

Volume/Issue: 2014/19

Series: IMF Working Papers

Author(s): Francesco Grigoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2014

DOI: http://dx.doi.org/10.5089/9781484398241.001

ISBN: 9781484398241

Keywords: Education expenditure, efficiency, hybrid, developing economies, emerging economies, education spending, expenditure, educational outcomes, Health Production: Nutrition, Mortality

The measurement of the efficiency of public education expenditure using parametric and non-parametric methods has proven challenging. This paper seeks to overcome the difficulties of earlier studies by using a hybr...

Understanding Countries' Tax Effort

Understanding Countries' Tax Effort »

Volume/Issue: 2013/244

Series: IMF Working Papers

Author(s): Ricardo Fenochietto , and Carola Pessino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 December 2013

DOI: http://dx.doi.org/10.5089/9781484301272.001

ISBN: 9781484301272

Keywords: tax effort, tax frontier, tax capacity, stochastic tax frontier, inefficiency, tax revenues, tax analysis, determinants of tax revenue, tax system, Models with Panel Data

This paper presents a model to determine the tax effort and tax capacity of 113 countries and the main variables on which they depend. The results and the model allow a clear determination of which countries are ne...

Waste Not, Want Not
			: The Efficiency of Health Expenditure in Emerging and Developing Economies

Waste Not, Want Not : The Efficiency of Health Expenditure in Emerging and Developing Economies »

Volume/Issue: 2013/187

Series: IMF Working Papers

Author(s): Francesco Grigoli , and Javier Kapsoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2013

DOI: http://dx.doi.org/10.5089/9781484364260.001

ISBN: 9781484364260

Keywords: Health expenditure, efficiency, emerging economies, developing economies, public health, health spending, public expenditure, public health spending, Health Production: Nutrition, Mortality

Public health spending is low in emerging and developing economies relative to advanced economies and health outputs and outcomes need to be substantially improved. Simply increasing public expenditure in the healt...

Taxing Immovable Property Revenue Potential and Implementation Challenges

Taxing Immovable Property Revenue Potential and Implementation Challenges »

Volume/Issue: 2013/129

Series: IMF Working Papers

Author(s): John Norregaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2013

DOI: http://dx.doi.org/10.5089/9781484369050.001

ISBN: 9781484369050

Keywords: immovable property tax, recurrent property tax, property taxes, property tax, property taxation, tax revenues, property tax revenues, State and Local Taxation, Subsidies, and Revenue,

The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the pr...

Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions

Assessing the Determinants of Interest Rate Transmission Through Conditional Impulse Response Functions »

Volume/Issue: 2013/23

Series: IMF Working Papers

Author(s): Christian Saborowski , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 January 2013

DOI: http://dx.doi.org/10.5089/9781475525717.001

ISBN: 9781475525717

Keywords: Interest Rate Pass-Through, Monetary Policy Transmission, inflation, banking, money market, General,

We employ a structural panel VAR model with interaction terms to identify determinants of effective transmission from central bank policy rates to retail lending rates in a large country sample. The framework allow...

Recent Improvements to the Government Finance Statistics Yearbook Database in Response to Analytical Needs

Recent Improvements to the Government Finance Statistics Yearbook Database in Response to Analytical Needs »

Volume/Issue: 2013/15

Series: IMF Working Papers

Author(s): Mike Seiferling

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 January 2013

DOI: http://dx.doi.org/10.5089/9781475528251.001

ISBN: 9781475528251

Keywords: government finance, accrual accounting, government revenue, General,

The demand for high quality detailed public finance statistics covering a globally representative sample of countries has increased dramatically during the recent financial crisis. Due to the complexity of public f...

Income and Democracy
			: Lipset's Law Revisited

Income and Democracy : Lipset's Law Revisited »

Volume/Issue: 2012/295

Series: IMF Working Papers

Author(s): Anke Hoeffler , Robert H. Bates , and Ghada Fayad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

DOI: http://dx.doi.org/10.5089/9781475596649.001

ISBN: 9781475596649

Keywords: democracy, dynamic panel data, parameter heterogeneity, cross-section dependence, time series, democratization, error correction coefficient, econometrics, political institutions, Models with Panel Data

We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relat...

Education Attainment in Public Administration Around the World
			: Evidence from a New Dataset

Education Attainment in Public Administration Around the World : Evidence from a New Dataset »

Volume/Issue: 2012/231

Series: IMF Working Papers

Author(s): Rabah Arezki , Herbert Lui , Marc Quintyn , and Frederik Toscani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 September 2012

DOI: http://dx.doi.org/10.5089/9781475510669.001

ISBN: 9781475510669

Keywords: Education Attainment, Public Administration, State Capacity, government effectiveness, education attainments, educational attainment, General, International Lending and Debt Problems,

The paper provides a detailed description of a novel dataset on education attainment in public administrations covering the period 1981-2011 for 178 countries. The dataset uses information extracted from CVs for ov...

Local Governments' Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries

Local Governments' Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries »

Volume/Issue: 2012/146

Series: IMF Working Papers

Author(s): Ernesto Crivelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504118.001

ISBN: 9781475504118

Keywords: Soft budget constraints, Transition, fiscal autonomy, budget constraints, fiscal discipline, State and Local Borrowing,

Several transition economies have undertaken fiscal decentralization reforms over the past two decades along with liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may...

Country Stress Events
			: Does Governance Matter?

Country Stress Events : Does Governance Matter? »

Volume/Issue: 2012/116

Series: IMF Working Papers

Author(s): Anna Kochanova , and Carlos Caceres

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503456.001

ISBN: 9781475503456

Keywords: fiscal stress, probability, statistics, probabilities, descriptive statistics, Relation of Economics to Other Disciplines, Corporate Finance and Governance: Government Policy and Regulation, Law and Economics: General (including Data Sources and Description), Business Environment, Fiscal Crises

This paper analyzes the linkages between governance quality and country stress events. It focuses on two types of events: fiscal and political stress events, for which two innovative stress indicators are introduce...

The Volatility Trap
			: Precautionary Saving, Investment, and Aggregate Risk

The Volatility Trap : Precautionary Saving, Investment, and Aggregate Risk »

Volume/Issue: 2012/134

Series: IMF Working Papers

Author(s): Reda Cherif , and Fuad Hasanov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

DOI: http://dx.doi.org/10.5089/9781475503869.001

ISBN: 9781475503869

Keywords: Volatility, risk, precautionary saving, buffer-stock, growth, investment rate, standard deviation, nonlinear relationship, correlation, statistics

We study the effects of permanent and temporary income shocks on precautionary saving and investment in a "store-or-sow" model of growth. High volatility of permanent shocks results in high precautionary saving in...

Labor Market Flexibility and Unemployment
			: New Empirical Evidence of Static and Dynamic Effects

Labor Market Flexibility and Unemployment : New Empirical Evidence of Static and Dynamic Effects »

Volume/Issue: 2012/64

Series: IMF Working Papers

Author(s): Lorenzo E. Bernal-Verdugo , Davide Furceri , and Dominique Guillaume

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

DOI: http://dx.doi.org/10.5089/9781463938413.001

ISBN: 9781463938413

Keywords: Labor market, flexibility, reforms, labor market flexibility, labor market institutions, unemployment outcomes, Macroeconomics: Consumption, Saving, Production, Employment and Investment: Other

The aim of this paper is to analyze the relationship between labor market flexibility and unemployment outcomes. Using a panel of 97 countries from 1985 to 2008, the results of the paper suggest that improvements i...

A Partial Race to the Bottom
			: Corporate Tax Developments in Emerging and Developing Economies

A Partial Race to the Bottom : Corporate Tax Developments in Emerging and Developing Economies »

Volume/Issue: 2012/28

Series: IMF Working Papers

Author(s): Junhyung Park , Sukhmani Bedi , S. M. Ali Abbas , and Alexander Klemm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463933135.001

ISBN: 9781463933135

Keywords: Effective Tax Rates, Corporate Income Tax, Special Economic Zones, Low-Income Countries, Developing Economies, tax rate, tax competition, corporate tax, tax revenues, Business Taxes and Subsidies including sales and value-added (VAT),

This paper assembles a new dataset on corporate income tax regimes in 50 emerging and developing economies over 1996-2007 and analyzes their impact on corporate tax revenues and domestic and foreign investment. It...

Commodity Price Volatility and the Sources of Growth

Commodity Price Volatility and the Sources of Growth »

Volume/Issue: 2012/12

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931179.001

ISBN: 9781463931179

Keywords: Growth, resource curse, volatility, gdp per capita, growth rate, tfp, Economic Growth of Open Economies, Economic Growth and Aggregate Productivity: General,

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation,...

Surges

Surges »

Volume/Issue: 2012/22

Series: IMF Working Papers

Author(s): Mahvash Qureshi , Atish Ghosh , Juan Zalduendo , and Jun Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463931841.001

ISBN: 9781463931841

Keywords: surges, emerging market economies, net capital flows, net capital, exchange rate, capital flow,

This paper examines why surges in capital flows to emerging market economies (EMEs) occur, and what determines the allocation of capital across countries during such surge episodes. We use two different methodologi...

Compliance with the AM+L4776L/CFT International Standard
			: Lessons from a Cross-Country Analysis

Compliance with the AM+L4776L/CFT International Standard : Lessons from a Cross-Country Analysis »

Volume/Issue: 2011/177

Series: IMF Working Papers

Author(s): Concha Verdugo Yepes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781462312306.001

ISBN: 9781462312306

Keywords: Terrorist Financing, Compliance, AML/CFT International Standard, international cooperation, terrorist, terrorism, Economics of Regulation, International Law, Financial Institutions and Services: Government Policy and Regulation,

This paper assesses countries' compliance with the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) international standard during the period 2004 to 2011. We find that overall compliance is...

Labor Market Regulations in Low-, Middle- and High-Income Countries
			: A New Panel Database

Labor Market Regulations in Low-, Middle- and High-Income Countries : A New Panel Database »

Volume/Issue: 2011/154

Series: IMF Working Papers

Author(s): Martin Schindler , and Mariya Aleksynska

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781455290673.001

ISBN: 9781455290673

Keywords: unemployment benefit systems, gross replacement rate, benefit coverage, advance notice, severance payment, employment, labor market, unemployment benefits, social security, employment legislation

This paper documents a new database of labor market regulations during 1980-2005 in 91 countries, including low-, middle- and high-income countries, and contains information on unemployment insurance systems, minim...

Measuring Fiscal Decentralization
			: Exploring the IMF's Databases

Measuring Fiscal Decentralization : Exploring the IMF's Databases »

Volume/Issue: 2011/126

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455263431.001

ISBN: 9781455263431

Keywords: Fiscal federalism, fiscal centralization, government finance, compensation of employees, fiscal decentralization, local governments, Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, Structure

Conventional wisdom postulates that there are benefits from decentralizing government finances but there is little empirical evidence about actual country practices. This paper presents data on fiscal decentralizat...

Assessing Fiscal Stress

Assessing Fiscal Stress »

Volume/Issue: 2011/100

Series: IMF Working Papers

Author(s): Gabriela Dobrescu , Iva Petrova , Nazim Belhocine , and Emanuele Baldacci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455254316.001

ISBN: 9781455254316

Keywords: fiscal stress, fiscal vulnerability, public debt crises, sovereign default, public debt, fiscal indicators, fiscal crisis, fiscal variables, National Deficit Surplus, Studies of Particular Policy Episodes

This paper develops a new index which provides early warning signals of fiscal sustainability problems for advanced and emerging economies. Unlike previous studies, the index assesses the determinants of fiscal str...

In Which Exchange Rate Models Do Forecasters Trust?

In Which Exchange Rate Models Do Forecasters Trust? »

Volume/Issue: 2011/116

Series: IMF Working Papers

Author(s): Jaewoo Lee , H. Takizawa , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

DOI: http://dx.doi.org/10.5089/9781455262397.001

ISBN: 9781455262397

Keywords: Exchange rate models, exchange rate, exchange rates, current account, interest rate, exchange rate regime, International Finance Forecasting and Simulation,

Using survey data of market expectations, we ask which popular exchange rate models appear to be consistent with expectation formation of market forecasters. Exchange rate expectations are found to be correlated wi...

Government Finance Statistics Yearbook, 2010

Government Finance Statistics Yearbook, 2010 »

Series: Government Finance Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 March 2011

DOI: http://dx.doi.org/10.5089/9781616350048.043

ISBN: 9781616350048

Keywords: liabilities, taxes, financial assets, loans, financial derivatives, interest, local governments, benefits, salaries, public debt

Detailed annual data for Fund member governments are supplied on revenue income by source (tax, lending, bonds, etc.), and expenditure by sector (defense, education, health, etc.) for all levels of government (nati...

Limits of Floating Exchange Rates
			: the Role of Foreign Currency Debt and Import Structure

Limits of Floating Exchange Rates : the Role of Foreign Currency Debt and Import Structure »

Volume/Issue: 2011/42

Series: IMF Working Papers

Author(s): Pascal Towbin , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

DOI: http://dx.doi.org/10.5089/9781455219001.001

ISBN: 9781455219001

Keywords: Exchange rate regime, balance sheet effect, pass-through, interacted panel VAR, external shock, exchange rate, currency debt, foreign currency debt, exchange rate regimes, Prices

A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure swit...

Balance of Payments Statistics Yearbook, 2010

Balance of Payments Statistics Yearbook, 2010 »

Series: Balance of Payments Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2010

DOI: http://dx.doi.org/10.5089/9781616350024.044

ISBN: 9781616350024

Keywords: liabilities, debt, payments, portfolio investment, loans, direct investment, financial derivatives, bonds, debt securities, equity securities

The BOPS Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well a...

Business Cycle Fluctuations, Large Shocks, and Development Aid
			: New Evidence

Business Cycle Fluctuations, Large Shocks, and Development Aid : New Evidence »

Volume/Issue: 2010/240

Series: IMF Working Papers

Author(s): Era Dabla-Norris , Camelia Minoiu , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2010

DOI: http://dx.doi.org/10.5089/9781455209408.001

ISBN: 9781455209408

Keywords: foreign aid, bilateral donors, business cycle, macroeconomic shocks, aid flows, bilateral aid, development aid, dynamic effects, Macroeconomic Analyses of Economic Development,

We examine the cyclical properties of development aid using bilateral data for 22 donors and over 100 recipients during 1970?2005. We find that bilateral aid flows are on average procyclical with respect to busines...

Crisis and Recovery
			: Role of the Exchange Rate Regime in Emerging Market Countries

Crisis and Recovery : Role of the Exchange Rate Regime in Emerging Market Countries »

Volume/Issue: 2010/242

Series: IMF Working Papers

Author(s): Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2010

DOI: http://dx.doi.org/10.5089/9781455209422.001

ISBN: 9781455209422

Keywords: Global financial crisis, fixed exchange rate, growth, emerging market economies, exchange rate regime, exchange rate, current account balance, terms of trade

This paper examines the role of the exchange rate regime in explaining how emerging market economies fared in the recent global financial crisis, particularly in terms of output losses and growth resilience. After...

International Financial Statistics, October 2010

International Financial Statistics, October 2010 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2010

DOI: http://dx.doi.org/10.5089/9781455210510.041

ISBN: 9781455210510

Keywords: claims, liabilities, financial derivatives, loans, debt, debt securities, equity securities, portfolio investment, payments, interest

The IMF's principal statistical publication, International Financial Statistics (IFS) Online, is the standard source of international statistics on all aspects of international and domestic finance. For most countr...

Direction of Trade Statistics Quarterly, September 2010

Direction of Trade Statistics Quarterly, September 2010 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2010

DOI: http://dx.doi.org/10.5089/9781455210497.042

ISBN: 9781455210497

Keywords: export earnings, trade data, balance of payments, trading partners, partner country, free trade, world trade, partner countries, merchandise exports, trade flows

The Direction of Trade Statistics Online service provides data on the value of merchandise exports and imports between each country and all its trading partners. The database includes: total bilateral and multilate...

International Financial Statistics Yearbook, 2010

International Financial Statistics Yearbook, 2010 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2010

DOI: http://dx.doi.org/10.5089/9781616350017.041

ISBN: 9781616350017

Keywords: claims, liabilities, loans, financial derivatives, interest, debt, central bank, debt securities, portfolio investment, equity securities

The International Financial Statistics Yearbook, usually published in September, contains available annual data covering 12 years for countries appearing in the monthly issues of IFS. The IFS service is the standar...

Direction of Trade Statistics Quarterly, June 2010

Direction of Trade Statistics Quarterly, June 2010 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 2010

DOI: http://dx.doi.org/10.5089/9781455214624.042

ISBN: 9781455214624

Keywords: export earnings, trade data, free trade, balance of payments, trading partners, partner country, world trade, partner countries, trade flows, merchandise exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Government Finance Statistics Yearbook, 2009

Government Finance Statistics Yearbook, 2009 »

Series: Government Finance Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2010

DOI: http://dx.doi.org/10.5089/9781589068629.043

ISBN: 9781589068629

Keywords: liabilities, taxes, financial assets, loans, financial derivatives, interest, local governments, benefits, salaries, public debt

Detailed annual data for Fund member governments are supplied on revenue income by source (tax, lending, bonds, etc.), and expenditure by sector (defense, education, health, etc.) for all levels of government (nati...

Direction of Trade Statistics Quarterly, March 2010

Direction of Trade Statistics Quarterly, March 2010 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 March 2010

DOI: http://dx.doi.org/10.5089/9781451930092.042

ISBN: 9781451930092

Keywords: export earnings, trade data, free trade, balance of payments, partner country, trading partners, partner countries, merchandise exports, trade flows, world trade

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Competition and Firm Productivity
			: Evidence from Firm-Level Data

Competition and Firm Productivity : Evidence from Firm-Level Data »

Volume/Issue: 2010/67

Series: IMF Working Papers

Author(s): Marc Schiffbauer , and Sandra Ospina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982114.001

ISBN: 9781451982114

Keywords: regulation, entry costs, survey, correlation, instrumental variables, heteroscedasticity, Macroeconomic Analyses of Economic Development, Economic Growth and Aggregate Productivity: General,

This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations from the World Bank Enterprise Survey database, we find a positive and robust causal relations...

Economic Transition and Health Care Reform
			: The Experience of Europe and Central Asia

Economic Transition and Health Care Reform : The Experience of Europe and Central Asia »

Volume/Issue: 2010/75

Series: IMF Working Papers

Author(s): Adam Leive

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

DOI: http://dx.doi.org/10.5089/9781451982183.001

ISBN: 9781451982183

Keywords: Health care reform, public health expenditure, primary care, health systems, health insurance, public health, fee-for-service, National Government Expenditures and Health, Health: General,

Economic Transition and Health Care Reform: The Experience of Europe and Central Asia...

Balance of Payments Statistics Yearbook, 2009

Balance of Payments Statistics Yearbook, 2009 »

Series: Balance of Payments Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2009

DOI: http://dx.doi.org/10.5089/9781589068728.044

ISBN: 9781589068728

Keywords: liabilities, debt, portfolio investment, loans, financial derivatives, equity securities, money market, money market instruments, debt securities, bonds

The BOPS Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well a...

Direction of Trade Statistics Quarterly, December 2009

Direction of Trade Statistics Quarterly, December 2009 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2009

DOI: http://dx.doi.org/10.5089/9781451960044.042

ISBN: 9781451960044

Keywords: export earnings, trade data, free trade, balance of payments, trading partners, partner country, world trade, partner countries, trade flows, merchandise exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Growth and Structural Reforms
			: A New Assessment

Growth and Structural Reforms : A New Assessment »

Volume/Issue: 2009/284

Series: IMF Working Papers

Author(s): Lone Engbo Christiansen , Thierry Tressel , and Martin Schindler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

DOI: http://dx.doi.org/10.5089/9781451874297.001

ISBN: 9781451874297

Keywords: Liberalization, Domestic Finance, Trade: Capital Account, tfp, real gdp, trade reforms, gdp per capita,

This paper presents a simultaneous assessment of the relationship between economic performance and three groups of economic reforms: domestic finance, trade, and the capital account. Among these, domestic financial...

The General Data Dissemination System (GDDS)-A Reflection on its First 12 Years and Plans for Taking it Forward

The General Data Dissemination System (GDDS)-A Reflection on its First 12 Years and Plans for Taking it Forward »

Volume/Issue: 2009/278

Series: IMF Working Papers

Author(s): Robin Kibuka , and Charles Enoch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

DOI: http://dx.doi.org/10.5089/9781451874235.001

ISBN: 9781451874235

Keywords: GDDS, economic and financial crises, macroeconomic data, data dissemination, sdds, capital markets, international capital markets, access to international capital markets,

The paper reviews the developments in the last 12 years that have influenced the evolution of the IMF's General Data Dissemination System, leading to reforms to enhance its role. The GDDS itself is part of a broade...

Direction of Trade Statistics Quarterly, September 2009

Direction of Trade Statistics Quarterly, September 2009 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 2009

DOI: http://dx.doi.org/10.5089/9781451960006.042

ISBN: 9781451960006

Keywords: oil exporting, european union, oil exporting countries, exporting countries, exporting country, total exports, internet, merchandise exports, trade flows, oil exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

One Money, One Market-A Revised Benchmark

One Money, One Market-A Revised Benchmark »

Volume/Issue: 2009/186

Series: IMF Working Papers

Author(s): Christian Henn , and Theo Eicher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

DOI: http://dx.doi.org/10.5089/9781451873337.001

ISBN: 9781451873337

Keywords: Preferencial Trade Agreements, Gravity Equation, Multilateral Resistance, trade effects, equation, trade effect, trade agreements,

The introduction of the euro generated substantial interest in measuring the impact of currency unions (CUs) on trade flows. Rose's (2000) initial estimates suggested a tripling of trade and created a literature in...

International Financial Statistics, July 2009

International Financial Statistics, July 2009 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

DOI: http://dx.doi.org/10.5089/9781451934250.041

ISBN: 9781451934250

Keywords: claims, liabilities, financial derivatives, loans, debt, debt securities, portfolio investment, equity securities, interest, payments

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

Direction of Trade Statistics Quarterly, June 2009

Direction of Trade Statistics Quarterly, June 2009 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2009

DOI: http://dx.doi.org/10.5089/9781451959987.042

ISBN: 9781451959987

Keywords: oil exporting, european union, oil exporting countries, exporting countries, exporting country, total exports, internet, merchandise exports, trade flows, oil exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

International Financial Statistics, May 2009

International Financial Statistics, May 2009 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2009

DOI: http://dx.doi.org/10.5089/9781451934137.041

ISBN: 9781451934137

Keywords: claims, liabilities, financial derivatives, loans, debt, debt securities, portfolio investment, equity securities, interest, payments

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

International Financial Statistics, April, 2009

International Financial Statistics, April, 2009 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

DOI: http://dx.doi.org/10.5089/9781451934069.041

ISBN: 9781451934069

Keywords: claims, liabilities, financial derivatives, loans, debt, debt securities, portfolio investment, equity securities, interest, payments

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

Government Finance Statistics Yearbook, 2008

Government Finance Statistics Yearbook, 2008 »

Series: Government Finance Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 March 2009

DOI: http://dx.doi.org/10.5089/9781589067554.043

ISBN: 9781589067554

Keywords: liabilities, taxes, financial assets, loans, financial derivatives, debt, interest, local governments, benefits, salaries

Detailed annual data for Fund member governments are supplied on revenue income by source (tax, lending, bonds, etc.), and expenditure by sector (defense, education, health, etc.) for all levels of government (nati...

Direction of Trade Statistics Quarterly, March 2009

Direction of Trade Statistics Quarterly, March 2009 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2009

DOI: http://dx.doi.org/10.5089/9781451959901.042

ISBN: 9781451959901

Keywords: oil exporting, european union, oil exporting countries, exporting countries, exporting country, total exports, internet, merchandise exports, trade flows, oil exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

International Financial Statistics, March 2009

International Financial Statistics, March 2009 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2009

DOI: http://dx.doi.org/10.5089/9781451934021.041

ISBN: 9781451934021

Keywords: claims, liabilities, financial derivatives, debt, portfolio investment, equity securities, debt securities, loans, payments, money market

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

In Search of WTO Trade Effects
			: Preferential Trade Agreements Promote Trade Strongly, But Unevenly

In Search of WTO Trade Effects : Preferential Trade Agreements Promote Trade Strongly, But Unevenly »

Volume/Issue: 2009/31

Series: IMF Working Papers

Author(s): Theo Eicher , and Christian Henn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2009

DOI: http://dx.doi.org/10.5089/9781451871784.001

ISBN: 9781451871784

Keywords: Preferential Trade Agreements, Multilateral Resistance, Country-Pair Fixed Effects, Omitted Variable Bias, trade creation, trade effects, trade agreements, trade flows, equation,

The literature measuring the impact of Preferential Trade Agreements (PTA) and WTO membership on trade flows has produced remarkably diverse results. Rose's (2004) seminal paper reports a range of specifications th...

Balance of Payments Statistics Yearbook, 2008

Balance of Payments Statistics Yearbook, 2008 »

Series: Balance of Payments Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 December 2008

DOI: http://dx.doi.org/10.5089/9781589067530.044

ISBN: 9781589067530

Keywords: Balance of payments statistics, Balance of Payments Statistics Publication, liabilities, debt, payments, portfolio investment, loans, financial derivatives, direct investment, bonds

The BOPS Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well a...

Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset

Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset »

Volume/Issue: 2008/265

Series: IMF Working Papers

Author(s): Thierry Tressel , and Enrica Detragiache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451871234.001

ISBN: 9781451871234

Keywords: Financial development, financial liberalization, property rights, banking, banking reform, banking sector, banking reforms, financial reforms,

This paper studies whether the policies that, over the past decades, liberalized bankingsystems around the world have resulted in deeper credit markets. To measure banking sectorreforms we use a new index that trac...

International Financial Statistics, December 2008

International Financial Statistics, December 2008 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

DOI: http://dx.doi.org/10.5089/9781451964387.041

ISBN: 9781451964387

Keywords: claims, financial derivatives, portfolio investment, equity securities, money market, deposit rate, deposit money, deposit money banks, commercial banks, money market instruments

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

International Financial Statistics, November 2008

International Financial Statistics, November 2008 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2008

DOI: http://dx.doi.org/10.5089/9781451964363.041

ISBN: 9781451964363

Keywords: claims, liabilities, financial derivatives, debt, loans, portfolio investment, debt securities, equity securities, payments, interest

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

International Financial Statistics Yearbook, 2008

International Financial Statistics Yearbook, 2008 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 November 2008

DOI: http://dx.doi.org/10.5089/9781589067523.041

ISBN: 9781589067523

Keywords: claims, liabilities, loans, banking, interest, debt, financial derivatives, money market, debt securities, portfolio investment

The International Financial Statistics Yearbook, usually published in September, contains available annual data covering 12 years for countries appearing in the monthly issues of IFS. The IFS service is the standar...

Strategic Considerations for First-Time Sovereign Bond Issuers

Strategic Considerations for First-Time Sovereign Bond Issuers »

Volume/Issue: 2008/261

Series: IMF Working Papers

Author(s): Magdalena Polan , Udaibir Das , and Michael Papaioannou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2008

DOI: http://dx.doi.org/10.5089/9781451871197.001

ISBN: 9781451871197

Keywords: international bonds, low-income countries, bond, bonds, international bond, bond issue, international capital,

The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increas...

Direction of Trade Statistics Quarterly, September 2008

Direction of Trade Statistics Quarterly, September 2008 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2008

DOI: http://dx.doi.org/10.5089/9781451930283.042

ISBN: 9781451930283

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Direction of Trade Statistics Quarterly,June 2008

Direction of Trade Statistics Quarterly,June 2008 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2008

DOI: http://dx.doi.org/10.5089/9781451930252.042

ISBN: 9781451930252

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice

Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice »

Volume/Issue: 2008/132

Series: IMF Working Papers

Author(s): Nienke Oomes , and Christopher Meissner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451869910.001

ISBN: 9781451869910

Keywords: exchange rate regime, anchor, network externalities, optimal currency area, exchange rate, exchange rate regimes, trade partners,

What determines the currency to which countries peg or "anchor" their exchange rate? Data for over 100 countries between 1980 and 1998 reveal that trade network externalities are a key determinant. This implies tha...

Financial Integration and Risk-Adjusted Growth Opportunities

Financial Integration and Risk-Adjusted Growth Opportunities »

Volume/Issue: 2008/126

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451869866.001

ISBN: 9781451869866

Keywords: growth opportunities, openness, financial development, financial globalization, european financial integration, foreign assets, financial deepening,

This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countrie...

International Financial Statistics, May 2008

International Financial Statistics, May 2008 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451964042.041

ISBN: 9781451964042

Keywords: claims, liabilities, financial derivatives, debt, loans, debt securities, portfolio investment, equity securities, interest, payments

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

Government Finance Statistics Yearbook, 2007

Government Finance Statistics Yearbook, 2007 »

Series: Government Finance Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 February 2008

DOI: http://dx.doi.org/10.5089/9781589066588.043

ISBN: 9781589066588

Keywords: liabilities, taxes, financial assets, loans, financial derivatives, interest, local governments, benefits, salaries, public debt

Detailed annual data for Fund member governments are supplied on revenue income by source (tax, lending, bonds, etc.), and expenditure by sector (defense, education, health, etc.) for all levels of government (nati...

Direction of Trade Statistics Quarterly, December 2007

Direction of Trade Statistics Quarterly, December 2007 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2007

DOI: http://dx.doi.org/10.5089/9781451960143.042

ISBN: 9781451960143

Keywords: industrial countries, oil exporting, oil exporting countries, merchandise exports, exporting countries, total exports, exporting country, internet, trade flows, oil exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Balance of Payments Statistics Yearbook, 2007

Balance of Payments Statistics Yearbook, 2007 »

Series: Balance of Payments Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2007

DOI: http://dx.doi.org/10.5089/9781589066564.044

ISBN: 9781589066564

Keywords: liabilities, debt, payments, portfolio investment, loans, financial derivatives, bonds, debt securities, equity securities, money market

The BOPS Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well a...

Effect of IMF Structural Adjustment Programs on Expectations
			: The Case of Transition Economies

Effect of IMF Structural Adjustment Programs on Expectations : The Case of Transition Economies »

Volume/Issue: 2007/261

Series: IMF Working Papers

Author(s): Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2007

DOI: http://dx.doi.org/10.5089/9781451868241.001

ISBN: 9781451868241

Keywords: inflation, survey, surveys, probability, statistically significant effect

We analyze the effect of IMF programs on economic agents' expectations about the economy in transitional countries using survey data from the Central and Eastern Eurobarometer poll, an annual general public survey...

International Financial Statistics, November 2007

International Financial Statistics, November 2007 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2007

DOI: http://dx.doi.org/10.5089/9781451934670.041

ISBN: 9781451934670

Keywords: claims, liabilities, financial derivatives, debt, debt securities, portfolio investment, equity securities, loans, payments, interest

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

Direction of Trade Statistics Quarterly, September 2007

Direction of Trade Statistics Quarterly, September 2007 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 September 2007

DOI: http://dx.doi.org/10.5089/9781451960105.042

ISBN: 9781451960105

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

International Financial Statistics, July 2007

International Financial Statistics, July 2007 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2007

DOI: http://dx.doi.org/10.5089/9781451934410.041

ISBN: 9781451934410

Keywords: claims, liabilities, debt, financial derivatives, debt securities, portfolio investment, equity securities, loans, money market, deposit money

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

Determinants of Tax Revenue Efforts in Developing Countries

Determinants of Tax Revenue Efforts in Developing Countries »

Volume/Issue: 2007/184

Series: IMF Working Papers

Author(s): Abhijit Sen Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867480.001

ISBN: 9781451867480

Keywords: Revenue performance, panel data, tax revenue, government revenue, export share, foreign debt, tax ratio,

This paper contributes to the existing empirical literature on the principal determinants of tax revenue performance across developing countries by using a broad dataset and accounting for some econometric issues t...

Firm Heterogeneity and Weak Intellectual Property Rights

Firm Heterogeneity and Weak Intellectual Property Rights »

Volume/Issue: 2007/161

Series: IMF Working Papers

Author(s): Stanley Watt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867251.001

ISBN: 9781451867251

Keywords: Firm Heterogeneity, Intellectual Property Rights, r &;amp; d, standard errors, equation, outlier, probability,

In weak intellectual property rights (IPR) environments, the imitation of proprietary technology by domestic firms has become a deterrent for foreign investment. Different multinationals may view this deterrent dif...

Rapid Growth in Transition Economies
			: Growth-Accounting Approach

Rapid Growth in Transition Economies : Growth-Accounting Approach »

Volume/Issue: 2007/164

Series: IMF Working Papers

Author(s): Garbis Iradian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867282.001

ISBN: 9781451867282

Keywords: Growth, TFP, growth rates, real gdp,

This paper uses the growth-accounting approach to determine the sources of growth in transition economies. The central conclusion is that the estimated total factor productivity (TFP) growth for the former Soviet U...

The Value-Added Tax
			: Its Causes and Consequences

The Value-Added Tax : Its Causes and Consequences »

Volume/Issue: 2007/183

Series: IMF Working Papers

Author(s): Ben Lockwood , and Michael Keen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867473.001

ISBN: 9781451867473

Keywords: vat, tax ratio, taxation, tax system, Value-added Tax, Tax Reform,

Has the VAT proved, as its proponents claim, an especially effective form of taxation? To address this, this paper first shows that a tax innovation-such as the introduction of a VAT- reduces the marginal cost of p...

Direction of Trade Statistics Quarterly, June 2007

Direction of Trade Statistics Quarterly, June 2007 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2007

DOI: http://dx.doi.org/10.5089/9781451960068.042

ISBN: 9781451960068

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

International Financial Statistics, June 2007

International Financial Statistics, June 2007 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451934342.041

ISBN: 9781451934342

Keywords: claims, liabilities, debt, financial derivatives, debt securities, portfolio investment, equity securities, loans, money market, deposit money

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

International Financial Statistics + Supplement, March 2007

International Financial Statistics + Supplement, March 2007 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2007

DOI: http://dx.doi.org/10.5089/9781451934175.041

ISBN: 9781451934175

Keywords: claims, liabilities, debt, financial derivatives, portfolio investment, debt securities, equity securities, loans, deposit money, deposit money banks

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

International Financial Statistics, May 2007

International Financial Statistics, May 2007 »

Series: International Financial Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2007

DOI: http://dx.doi.org/10.5089/9781451934311.041

ISBN: 9781451934311

Keywords: claims, liabilities, debt, financial derivatives, debt securities, portfolio investment, equity securities, loans, deposit money, deposit money banks

International Financial Statistics provides a complete library of continuously updated international statistics on all aspects of international and domestic finance. The monthly print edition contains over 1,000 pa...

Direction of Trade Statistics Quarterly, December 2006

Direction of Trade Statistics Quarterly, December 2006 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2006

DOI: http://dx.doi.org/10.5089/9781451930399.042

ISBN: 9781451930399

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Balance of Payments Statistics Yearbook, 2006

Balance of Payments Statistics Yearbook, 2006 »

Series: Balance of Payments Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2006

DOI: http://dx.doi.org/10.5089/9781589065789.044

ISBN: 9781589065789

Keywords: liabilities, debt, payments, portfolio investment, loans, financial derivatives, bonds, debt securities, money market, equity securities

The BOPS Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well a...

Banking on the Principles
			: Compliance with Basel Core Principles and Bank Soundness

Banking on the Principles : Compliance with Basel Core Principles and Bank Soundness »

Volume/Issue: 2006/242

Series: IMF Working Papers

Author(s): Enrica Detragiache , Thierry Tressel , and Asli Demirgüç-Kunt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

DOI: http://dx.doi.org/10.5089/9781451865028.001

ISBN: 9781451865028

Keywords: regulation and supervision, banking, bank ratings, statistics, correlations, Financial Institutions and Services: Government Policy and Regulation,

This paper studies whether compliance with the Basel Core Principles for Effective Banking Supervision (BCPs) improves bank soundness. The authors find a significant and positive relationship between bank soundness...

New Evidence on Fiscal Adjustment and Growth in Transition Economies

New Evidence on Fiscal Adjustment and Growth in Transition Economies »

Volume/Issue: 2006/244

Series: IMF Working Papers

Author(s): Sanjeev Gupta , Alejandro Simone , and Alex Segura-Ubiergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

DOI: http://dx.doi.org/10.5089/9781451865042.001

ISBN: 9781451865042

Keywords: growth, fiscal balance, transition countries, Multiple or Simultaneous Equation Models: Models with Panel Data, Structure, Scope, and Performance of Government, National Budget, Deficit, and Debt: General,

This paper analyzes the relationship between fiscal adjustment and real GDP growth in a panel of 26 transition economies during 1992-2001. Unlike most previous studies using cross-country regressions, the paper fin...

Direction of Trade Statistics Quarterly, September 2006

Direction of Trade Statistics Quarterly, September 2006 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2006

DOI: http://dx.doi.org/10.5089/9781451930375.042

ISBN: 9781451930375

Keywords: industrial countries, oil exporting, free trade, oil exporting countries, trade data, merchandise exports, exporting countries, exporting country, total exports, internet

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Summary Proceedings of the Fifty-Eighth Annual Meeting of the Board of Governors

Summary Proceedings of the Fifty-Eighth Annual Meeting of the Board of Governors »

Series: Summary Proceedings

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 July 2006

DOI: http://dx.doi.org/10.5089/9781589065116.015

ISBN: 9781589065116

Keywords: debt sustainability, oil prices, balance of payments, young people, world economy

The speeches made by officials attending the IMF-World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Develo...

Direction of Trade Statistics Quarterly. June 2006

Direction of Trade Statistics Quarterly. June 2006 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2006

DOI: http://dx.doi.org/10.5089/9781451930344.042

ISBN: 9781451930344

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Direction of Trade Statistics Quarterly, March 2006

Direction of Trade Statistics Quarterly, March 2006 »

Series: Direction of Trade Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2006

DOI: http://dx.doi.org/10.5089/9781451930320.042

ISBN: 9781451930320

Keywords: industrial countries, oil exporting, oil exporting countries, partner countries, world trade, exporting countries, merchandise exports, partner country, trading partners, total exports

This publication provides data on the country and area distribution of countries exports and imports as reported by themselves or by their partners. The quarterly issues cover data for the most recent six quarters...

Spending Seigniorage
			: Do Central Banks Have a Governance Problem?

Spending Seigniorage : Do Central Banks Have a Governance Problem? »

Volume/Issue: 2006/58

Series: IMF Working Papers

Author(s): Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

DOI: http://dx.doi.org/10.5089/9781451863185.001

ISBN: 9781451863185

Keywords: seigniorage, expenditures, central bank, reserve accumulation, currency composition, Structure, Scope, and Performance of Government,

This paper reviews how central banks allocate seigniorage, based on systematic crosscountry comparisons of their financial accounts. Central banks are classified as weak or strong, depending upon their structural p...

Fiscal Policy and Financial Development

Fiscal Policy and Financial Development »

Volume/Issue: 2006/26

Series: IMF Working Papers

Author(s): David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

DOI: http://dx.doi.org/10.5089/9781451862867.001

ISBN: 9781451862867

Keywords: Bank efficiency, bank profitability, financial development, public sector, banking, banking sector, bank credit, bank borrowing, National Budget, Deficit

We examine the effects of public sector borrowing from the domestic banking system on financial development in middle-income countries. While these countries' external debt has been falling, the share of bank credi...

Fiscal Policy and Financial Markets

Fiscal Policy and Financial Markets »

Volume/Issue: 2006/16

Series: IMF Working Papers

Author(s): Bernardin Akitoby , and Thomas Stratmann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

DOI: http://dx.doi.org/10.5089/9781451862768.001

ISBN: 9781451862768

Keywords: spreads, bond, bonds, fiscal adjustment, fiscal adjustments, Fiscal Policies and Behavior of Economic Agents: Other,

This paper introduces fiscal policy in a model of sovereign risk spreads ("spreads"). Using panel data from emerging market countries, we find that reductions in public expenditure are a more powerful tool for redu...

Government Finance Statistics Yearbook, 2005

Government Finance Statistics Yearbook, 2005 »

Series: Government Finance Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

DOI: http://dx.doi.org/10.5089/9781589064621.043

ISBN: 9781589064621

Keywords: liabilities, taxes, loans, financial derivatives, financial assets, financial corporations, interest, benefits, local governments, public debt

Detailed annual data for Fund member governments are supplied on revenue income by source (tax, lending, bonds, etc.), and expenditure by sector (defense, education, health, etc.) for all levels of government (nati...

Balance of Payments Statistics Yearbook, 2005

Balance of Payments Statistics Yearbook, 2005 »

Series: Balance of Payments Statistics

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781589064607.044

ISBN: 9781589064607

Keywords: liabilities, debt, payments, portfolio investment, loans, financial derivatives, bonds, debt securities, equity securities, money market

The BOPS Yearbook, usually published in December, contains balance of payments statistics for most of the world, compiled in accordance with the IMF's Balance of Payments Manual. Part 1 includes aggregate as well a...

Financial Sector Conditionality
			: Is Tougher Better?

Financial Sector Conditionality : Is Tougher Better? »

Volume/Issue: 2005/230

Series: IMF Working Papers

Author(s): Roger Kronenberg , and Alessandro Giustiniani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781451862492.001

ISBN: 9781451862492

Keywords: financial sectors, banking, banking sector, structural conditionality, banking sector reform, International Monetary Arrangements and Institutions, Financial Economics,

The aim of this paper is to take a closer look at IMF conditionality in the banking sector. Our analysis shows that while such conditionality became more stringent following the Asian crisis, compliance has remaine...

Fiscal Transparency and Economic Outcomes

Fiscal Transparency and Economic Outcomes »

Volume/Issue: 2005/225

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781451862447.001

ISBN: 9781451862447

Keywords: Fiscal Discipline, Institutions, contingent liabilities, budget execution, fiscal risk, Financial Markets and the Macroeconomy, and Finance, Taxation, Financial Markets and the Macroeconomy, Financial Markets and Institutions,

This paper develops indices of fiscal transparency for a broad range of countries based on the IMF's Code of Good Practices on Fiscal Transparency, using data derived from published fiscal transparency modules of t...

Quality of Financial Policies and Financial System Stress

Quality of Financial Policies and Financial System Stress »

Volume/Issue: 2005/173

Series: IMF Working Papers

Author(s): Udaibir Das , Plamen Yossifov , Richard Podpiera , and Dmitriy Rozhkov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

DOI: http://dx.doi.org/10.5089/9781451861921.001

ISBN: 9781451861921

Keywords: financial stress, financial policies, financial system, banking, foreign exchange, banking sector, General Financial Markets: Government Policy and Regulation,

In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with...

The Political Economy of Seigniorage

The Political Economy of Seigniorage »

Volume/Issue: 2005/175

Series: IMF Working Papers

Author(s): Ari Aisen , and Francisco José Veiga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

DOI: http://dx.doi.org/10.5089/9781451861945.001

ISBN: 9781451861945

Keywords: Seigniorage, political instability, institutions, political rights, freedom house, political parties, political science,

While most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional, and economic reasons for relying on it. This paper investigates the...

How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes

How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes »

Volume/Issue: 2005/48

Series: IMF Working Papers

Author(s): Rodney Ramcharan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

DOI: http://dx.doi.org/10.5089/9781451860672.001

ISBN: 9781451860672

Keywords: Risk, diversification, earthquakes, earthquake, disasters, epidemiology of disasters, Macroeconomics: Consumption, Saving, Production, Employment

Economic activity is risky. Returns across economic sectors can be highly variable, potentially causing costly adjustments to consumption. However, when returns are imperfectly correlated across sectors and insuran...