Volume/Issue: 2017/145
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Middle East and Central Asia Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
June
2017
DOI: http://dx.doi.org/10.5089/9781484302996.002
ISBN: 9781484302996
This paper presents country experiences with reforms to strengthen regulatory oversight of the Islamic banking sector. Based on the selected country experiences, a number of important lessons and policy options can...
Volume/Issue: 2017/153
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Fiscal Affairs Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
14
June
2017
DOI: http://dx.doi.org/10.5089/9781484303719.002
ISBN: 9781484303719
This report reviews the IMF's effort to build fiscal capacity in fragile states. It presents case studies on IMF technical assistance (TA) and capacity development in the fiscal area, provided by its Fiscal Affairs...
Series: Manuals & Guides
Author(s):
Rita Mesias
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
10
January
2017
Language: French
DOI: http://dx.doi.org/10.5089/9781475523256.069
ISBN: 9781475523256
This Coordinated Direct Investment Survey Guide (Guide) has been prepared to assist economies in participating in the Coordinated Direct Investment Survey (CDIS). The CDIS is being conducted under the auspices of t...
Volume/Issue: 2016/233
Series: IMF Working Papers
Author(s):
Vitor Gaspar
,
Laura Jaramillo
, and
Philippe Wingender
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
02
December
2016
DOI: http://dx.doi.org/10.5089/9781475558142.001
ISBN: 9781475558142
An empirical finding by Gaspar, Jaramillo and Wingender (2016) shows that once countries cross a tax-to-GDP threshold of around 12¾ percent, real GDP per capita increases sharply and in a sustained manner over the...
Volume: 16
Series: Fiscal Affairs Department How-To Notes
Author(s):
Richard Allen
, and
Miguel Alves
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
November
2016
DOI: http://dx.doi.org/10.5089/9781475551983.061
ISBN: 9781475551983
Many studies have highlighted how failures of public corporations (otherwise known as state-owned enterprises) can result in huge economic and fiscal costs. To contain the risks associated with these costs, an effe...
Volume: 16
Series: Fiscal Affairs Department How-To Notes
Author(s):
Paulo Medas
,
Veronique Salins
, and
Jeff Danforth
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
27
September
2016
DOI: http://dx.doi.org/10.5089/9781475536065.061
ISBN: 9781475536065
Resource-rich countries have to manage highly volatile commodity revenues. In periods of revenue booms there is a tendency for large spending scale-ups. When facing large and persistent reductions in commodity pric...
Volume/Issue: 2016/174
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. African Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
17
June
2016
DOI: http://dx.doi.org/10.5089/9781498307444.002
ISBN: 9781498307444
This paper discusses recent economic developments and economic outlook and risks of São Tomé and Príncipe. Although São Tomé and Príncipe's economic development is constrained by its insularity, fragility, limited...
Volume/Issue: 2016/98
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. African Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
04
April
2016
DOI: http://dx.doi.org/10.5089/9781475550009.002
ISBN: 9781475550009
This paper presents stylized facts on the quantitative and qualitative infrastructure gap in the West African Economic and Monetary Union (WAEMU), estimates the efficiency of public investment, and recommends how t...
Volume/Issue: 2016/65
Series: IMF Working Papers
Author(s):
Olumuyiwa Adedeji
,
Jana Gieck-Bricco
, and
Vera Kehayova
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
16
March
2016
DOI: http://dx.doi.org/10.5089/9781513596013.001
ISBN: 9781513596013
The exposure of low-income countries to natural disasters has a significant impact on food production and food security. This paper provides a framework for assessing a country's vulnerability to food crisis in the...
Series: Balance of Payments Statistics
Author(s):
International Monetary Fund. Statistics Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
18
February
2016
DOI: http://dx.doi.org/10.5089/9781498386128.044
ISBN: 9781498386128
The 2015 Annual Report of the IMF Committee on Balance of Payments Statistics (Committee) provides an overview of recent trends in global balance of payments and international investment position (IIP) statistics,...
Volume/Issue: 2016/5
Series: IMF Working Papers
Author(s):
Katsiaryna Svirydzenka
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
12
January
2016
DOI: http://dx.doi.org/10.5089/9781513583709.001
ISBN: 9781513583709
There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one...
Volume/Issue: 2016/3
Series: IMF Working Papers
Author(s):
Lars Svensson
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
11
January
2016
DOI: http://dx.doi.org/10.5089/9781498314787.001
ISBN: 9781498314787
“Leaning against the wind” (LAW) with a higher monetary policy interest rate may have benefits in
terms of lower real debt growth and associated lower probability of a financial crisis but has costs in
terms of hig...
Volume/Issue: 2015/286
Series: IMF Working Papers
Author(s):
Wenyi Shen
,
Susan Yang
, and
Luis-Felipe Zanna
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
30
December
2015
DOI: http://dx.doi.org/10.5089/9781513578972.001
ISBN: 9781513578972
Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper develops a new-Keynesian small open economy model to show, analytically and through simulations,...
Volume/Issue: 2015/275
Series: IMF Working Papers
Author(s):
Andrea Presbitero
,
Dhaneshwar Ghura
,
Olumuyiwa Adedeji
, and
Lamin Njie
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
24
December
2015
DOI: http://dx.doi.org/10.5089/9781513581729.001
ISBN: 9781513581729
What determines the ability of low-income developing countries to issue bonds in international capital and what explains the spreads on these bonds? This paper examines these questions using a dataset that includes...
Volume/Issue: 2015/318
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Asia and Pacific Dept
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
18
November
2015
DOI: http://dx.doi.org/10.5089/9781513584683.002
ISBN: 9781513584683
This 2015 Article IV Consultation highlights that Papua New Guinea (PNG) is facing strong headwinds from lower global commodity prices. Although the commencement of liquefied natural gas (LNG) production has booste...
Volume/Issue: 2015/319
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Asia and Pacific Dept
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
18
November
2015
DOI: http://dx.doi.org/10.5089/9781513564357.002
ISBN: 9781513564357
This Selected Issues paper provides an overview of financial access and inclusion indicators, related causal factors, and both current and possible reform priorities for on Papua New Guinea (PNG). The paper present...
Volume/Issue: 2015/225
Series: IMF Working Papers
Author(s):
Serhan Cevik
, and
John Ricco
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
October
2015
DOI: http://dx.doi.org/10.5089/9781513510965.001
ISBN: 9781513510965
This paper provides an empirical analysis of how the frequency and severity of terrorism affect
government revenue and expenditure during the period 1970-2013 using a panel dataset on
153 countries. We find that te...
Series: Manuals & Guides
Author(s):
Rita Mesias
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
08
October
2015
DOI: http://dx.doi.org/10.5089/9781513519418.069
ISBN: 9781513519418
This Coordinated Direct Investment Survey Guide (Guide) has been prepared to assist economies participating in the Coordinated Direct Investment Survey (CDIS). The CDIS is being conducted under the auspices of the...
Series: Books
Author(s):
International Monetary Fund. Finance Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
05
October
2015
DOI: http://dx.doi.org/10.5089/9781513549897.071
ISBN: 9781513549897
IMF Financial Operations 2015 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and also provides backgr...
Volume/Issue: 2015/205
Series: IMF Working Papers
Author(s):
Rahul Anand
,
Eswar Prasad
, and
Boyang Zhang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
September
2015
DOI: http://dx.doi.org/10.5089/9781513572574.001
ISBN: 9781513572574
In closed or open economy models with complete markets, targeting core inflation enables
monetary policy to maximize welfare by replicating the flexible price equilibrium. We
analyze this result in the context of d...
Volume/Issue: 2015/18
Series: Staff Discussion Notes
Author(s):
Stefania Fabrizio
,
Rodrigo Garcia-Verdu
,
Catherine Pattillo
,
Adrian Peralta-Alva
,
Andrea Presbitero
,
Baoping Shang
,
Genevieve Verdier
,
Marie-Therese Camilleri
,
Kazuaki Washimi
,
Lisa Kolovich
,
Monique Newiak
,
Martin Cihak
,
Inci Otker
,
Luis-Felipe Zanna
, and
Carol Baker
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
22
September
2015
DOI: http://dx.doi.org/10.5089/9781513573304.006
ISBN: 9781513573304
The formal launch of the Sustainable Development Goals (SDGs) sets the global development agenda through 2030, placing significant emphasis on promoting social and environmental sustainability alongside economic gr...
Series: Books
Author(s):
Benedict Clements
,
Ruud Mooij
,
Sanjeev Gupta
, and
Michael Keen
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
21
September
2015
DOI: http://dx.doi.org/10.5089/9781513567754.071
ISBN: 9781513567754
The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distribu...
Volume/Issue: 2015/171
Series: IMF Working Papers
Author(s):
Bill Battaile
, and
Saurabh Mishra
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
July
2015
DOI: http://dx.doi.org/10.5089/9781513573571.001
ISBN: 9781513573571
This paper provides an empirical benchmarking of growth, productivity and export patterns for developing NREs against other low and middle income developing countries, to inform policy discussions and future analyt...
Volume/Issue: 2015/147
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. African Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
12
June
2015
DOI: http://dx.doi.org/10.5089/9781513533346.002
ISBN: 9781513533346
This paper discusses Côte d'Ivoire's Seventh Review Under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria (PCs). Performance under the IMF-supported program conti...
Volume/Issue: 2015/101
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. African Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
13
April
2015
DOI: http://dx.doi.org/10.5089/9781475567595.002
ISBN: 9781475567595
...
Volume/Issue: 2015/63
Series: IMF Working Papers
Author(s):
Serhan Cevik
,
Richard Harris
, and
Fatih Yilmaz
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
March
2015
DOI: http://dx.doi.org/10.5089/9781475530520.001
ISBN: 9781475530520
Standard models-based exclusively on macro-financial variables-have made little progress in explaining the behavior of exchange rates. In this paper, we introduce a neglected set of 'soft power' factors capturing...
Volume/Issue: 2015/2
Series: Staff Discussion Notes
Author(s):
Christian Gonzales
,
Sonali Jain-Chandra
,
Kalpana Kochhar
, and
Monique Newiak
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
February
2015
DOI: http://dx.doi.org/10.5089/9781498354424.006
ISBN: 9781498354424
This Staff Discussion Note examines the effect of gender-based legal restrictions and other policy choices and demographic characteristics on female labor force participation. Drawing on a large and novel panel dat...
Volume/Issue: 2015/33
Series: IMF Working Papers
Author(s):
Rafael Portillo
, and
Luis-Felipe Zanna
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
February
2015
DOI: http://dx.doi.org/10.5089/9781498333092.001
ISBN: 9781498333092
We develop a tractable small open-economy model to study the first-round effects of international food price shocks in developing countries. We define first-round effects as changes in headline inflation that, hold...
Volume/Issue: 2015/11
Series: IMF Working Papers
Author(s):
Marco Arena
,
Serpil Bouza
,
Era Dabla-Norris
,
Kerstin Gerling
, and
Lamin Njie
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
22
January
2015
DOI: http://dx.doi.org/10.5089/9781484356869.001
ISBN: 9781484356869
Using a comprehensive database on bank credit, covering 135 developing countries over the period 1960-2011, we identify, document, and compare the macro-economic dynamics of credit booms across low- and middle-inco...
Volume/Issue: 2014/358
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. African Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
22
December
2014
DOI: http://dx.doi.org/10.5089/9781498349741.002
ISBN: 9781498349741
All end-June performance criteria and indicative targets under the ECF arrangement were met, and all structural benchmarks were completed, albeit with minor delays. However, there was a nonobservance of the continu...
Volume/Issue: 2014/223
Series: IMF Working Papers
Author(s):
Christian Ebeke
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
15
December
2014
DOI: http://dx.doi.org/10.5089/9781498368490.001
ISBN: 9781498368490
Domestic private saving rates have been on a declining trend in many Emerging Markets (EMs), raising questions about countries' ability to generate sufficient domestic resources to finance investment. This paper ex...
Volume/Issue: 2014/325
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Asia and Pacific Dept
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
02
December
2014
DOI: http://dx.doi.org/10.5089/9781498355711.002
ISBN: 9781498355711
This 2014 Article IV Consultation highlights that Papua New Guinea's economy is experiencing an important transition, as new liquefied natural gas (LNG) production and exports commence. With LNG production and expo...
Volume/Issue: 2014/326
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Asia and Pacific Dept
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
02
December
2014
DOI: http://dx.doi.org/10.5089/9781616355296.002
ISBN: 9781616355296
This Selected Issues paper analyzes the sustainability of Papua New Guinea's current and medium-term fiscal policy and its consistency with government objectives. The Papua New Guinea government faces major challen...
Volume/Issue: 51/4
Series: Finance & Development
Author(s):
International Monetary Fund. External Relations Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
26
November
2014
DOI: http://dx.doi.org/10.5089/9781484315422.022
ISBN: 9781484315422
This chapter emphasizes the importance of health policy and its implementation and connection to economic growth. The chapter also offers a different view of progress in the provision of better health facilities. T...
Volume/Issue: 2014/206
Series: IMF Working Papers
Author(s):
Ernesto Crivelli
, and
Sanjeev Gupta
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
19
November
2014
DOI: http://dx.doi.org/10.5089/9781484380048.001
ISBN: 9781484380048
This paper studies whether revenue conditionality in Fund-supported programs had any impact on the revenue performance of 126 low- and middle-income countries during 1993-2013. The results indicate that such condit...
Volume/Issue: 2014/205
Series: IMF Working Papers
Author(s):
Evridiki Tsounta
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
14
November
2014
DOI: http://dx.doi.org/10.5089/9781498304719.001
ISBN: 9781498304719
Following very strong growth during the period 2000-12, emerging market economies (EMEs) experienced a slowdown in the last couple of years. This paper examines the supply-side drivers of the strong growth performa...
Volume/Issue: 2014/204
Series: IMF Working Papers
Author(s):
Francesco Grigoli
,
Alexander Herman
, and
Klaus Schmidt-Hebbel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
13
November
2014
DOI: http://dx.doi.org/10.5089/9781475545517.001
ISBN: 9781475545517
This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries f...
Series: Books
Author(s):
International Monetary Fund. Finance Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
07
October
2014
DOI: http://dx.doi.org/10.5089/9781484318928.071
ISBN: 9781484318928
IMF Financial Operations 2014 provides a broad introduction to how the IMF fulfills its mission through its financial activities. It covers the financial structure and operations of the IMF and also pr...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund. Secretary's Department
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
03
October
2014
DOI: http://dx.doi.org/10.5089/9781498315357.011
ISBN: 9781498315357
Seven years after the onset of the global financial crisis, the world still has a way to go to secure a sustainable recovery marked by strong growth that supports rapid job creation and benefits all, International...
Volume/Issue: 2014/182
Series: IMF Working Papers
Author(s):
Paolo Giordani
,
Nadia Rocha
, and
Michele Ruta
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
26
September
2014
DOI: http://dx.doi.org/10.5089/9781498320382.001
ISBN: 9781498320382
This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks...
Volume/Issue: 2014/176
Series: IMF Working Papers
Author(s):
Calixte Ahokpossi
,
Laurence Allain
, and
Giovanna Bua
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
24
September
2014
DOI: http://dx.doi.org/10.5089/9781498349727.001
ISBN: 9781498349727
This paper uses the propensity matching score approach to assess the impact of the IMF's debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The pape...
Volume/Issue: 2014/149
Series: IMF Working Papers
Author(s):
Enrique Gelbard
,
Mumtaz Hussain
,
Rodolfo Maino
,
Yibin Mu
, and
Etienne Yehoue
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
11
August
2014
DOI: http://dx.doi.org/10.5089/9781498348669.001
ISBN: 9781498348669
Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA. Ongoing activities include Islamic banking, sukuk issuances (to finance infrastructure projects),...
Series: Books
Author(s):
Jack Calder
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
18
July
2014
DOI: http://dx.doi.org/10.5089/9781475575170.071
ISBN: 9781475575170
This handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries. It provides policymakers and officials in developing and emerging market economies...
Volume/Issue: 2014/127
Series: IMF Working Papers
Author(s):
Anastasia Guscina
,
Guilherme Pedras
, and
Gabriel Presciuttini
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
18
July
2014
DOI: http://dx.doi.org/10.5089/9781498390699.001
ISBN: 9781498390699
International bond issuance by debut issuers has risen in recent years. The uptick was a result of both demand and supply factors. The search for yield and demand for portfolio diversification have resulted in dema...
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
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...
Volume/Issue: 2014/163
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. African Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
11
June
2014
DOI: http://dx.doi.org/10.5089/9781498355865.002
ISBN: 9781498355865
This paper discusses Côte d'Ivoire's Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility (ECF) and Requests for Modification of Performance Criteria (PC) and Extension of the Current Ar...
Volume/Issue: 2014/35
Series: IMF Working Papers
Author(s):
Oumar Diallo
, and
Sampawende Tapsoba
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
14
February
2014
DOI: http://dx.doi.org/10.5089/9781484306598.001
ISBN: 9781484306598
This paper assesses the extent to which Sub-Saharan Africa (SSA)'s business cycle is synchronized with that of the rest of the world (RoW). Findings suggest that SSA's business cycle has not only moved in the same...
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
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...
Volume/Issue: 2013/272
Series: IMF Working Papers
Author(s):
Steven Phillips
,
Luis Catão
,
Luca Ricci
,
Rudolfs Bems
,
Mitali Das
,
Julian Di Giovanni
,
Filiz Unsal
,
Marola Castillo
,
Jungjin Lee
,
Jair Rodriguez
, and
Mauricio Vargas
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
31
December
2013
DOI: http://dx.doi.org/10.5089/9781484346686.001
ISBN: 9781484346686
The External Balance Assessment (EBA) methodology has been developed by the IMF's Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally con...
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
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...
Series: Annual Report on Exchange Arrangements and Exchange Restrictions
Author(s):
International Monetary Fund. Monetary and Capital Markets Department
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
15
December
2013
DOI: http://dx.doi.org/10.5089/9781484366806.012
ISBN: 9781484366806
This is the 64th issue of the AREAER. It provides a description of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It also provides information on th...
Volume/Issue: 2013/339
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund. Asia and Pacific Dept
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
03
December
2013
DOI: http://dx.doi.org/10.5089/9781475556216.002
ISBN: 9781475556216
This 2013 Article IV Consultation highlights that Papua New Guinea has achieved strong economic growth over the past decade, benefiting from high commodity prices, mineral investment inflows, sound macroeconomic po...
Volume/Issue: 50/4
Series: Finance & Development
Author(s):
International Monetary Fund. External Relations Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
25
November
2013
DOI: http://dx.doi.org/10.5089/9781484316917.022
ISBN: 9781484316917
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterl...
Volume/Issue: 2013/201
Series: IMF Working Papers
Author(s):
Louise Fox
,
Cleary Haines
,
Jorge Huerta Munoz
, and
Alun Thomas
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
October
2013
DOI: http://dx.doi.org/10.5089/9781484389195.001
ISBN: 9781484389195
Estimates of the current and future structure of employment in sub-Saharan Africa (2005–20) are obtained based on household survey estimates for 28 countries and an elasticity-type model that relates employm...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund. Secretary's Department
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
October
2013
DOI: http://dx.doi.org/10.5089/9781475515398.011
ISBN: 9781475515398
The IMF's 2013 Annual Report chronicles the response of the institution's Executive Board and staff to the global financial crisis and other events during financial year 2013, which covers the period from May 1, 20...
Series: Books
Author(s):
Benedict Clements
,
David Coady
,
Stefania Fabrizio
,
Sanjeev Gupta
,
Trevor Alleyne
, and
Carlo Sdralevich
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
13
September
2013
DOI: http://dx.doi.org/10.5089/9781475558111.071
ISBN: 9781475558111
Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book prov...
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
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...
Volume/Issue: 2013/180
Series: IMF Working Papers
Author(s):
Rabah Arezki
,
Kaddour Hadri
,
Prakash Loungani
, and
Yao Rao
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
15
August
2013
DOI: http://dx.doi.org/10.5089/9781484341155.001
ISBN: 9781484341155
In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the secular trend and the short run volatility. To do so, we employ 25 series, some of them starting a...
Volume/Issue: 2013/176
Series: IMF Working Papers
Author(s):
Era Dabla-Norris
,
Alun Thomas
,
Rodrigo Garcia-Verdu
, and
Yingyuan Chen
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
31
July
2013
DOI: http://dx.doi.org/10.5089/9781484359662.001
ISBN: 9781484359662
This paper documents stylized facts on the process of structural transformation around the world and empirically analyzes its determinants using data on real value added by sector of economic activity (agriculture,...
Volume/Issue: 2013/138
Series: IMF Working Papers
Author(s):
Suman Basu
,
Jan Gottschalk
,
Werner Schule
,
Nikhil Vellodi
, and
Susan Yang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
31
May
2013
DOI: http://dx.doi.org/10.5089/9781484321379.001
ISBN: 9781484321379
To investigate the effects on Papua New Guinea’s economy of substantial liquified natural gas revenues arriving in 2015, we employ a model to examine the macroeconomic effects of a scalingup of natural resou...
Volume/Issue: 2013/132
Series: IMF Working Papers
Author(s):
John Bluedorn
,
Rupa Duttagupta
,
Jaime Guajardo
, and
Nkunde Mwase
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
30
May
2013
DOI: http://dx.doi.org/10.5089/9781484321980.001
ISBN: 9781484321980
Growth takeoffs in developing economies have rebounded in the past two decades. Although recent takeoffs have lasted longer than takeoffs before the 1990s, a key question is whether they could unravel like some did...
Series: Manuals & Guides
Author(s):
Statistical Office of the European Communities;International Labour Office;International Monetary Fund;Organization for Economic Co-operation and Development;United Nations;World Bank
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
21
May
2013
DOI: http://dx.doi.org/10.5089/9789279259845.069
ISBN: 9789279259845
For most citizens, buying a residential property (dwelling) is the most important transaction during their lifetime. Residential properties represent the most significant component of households’ expenses an...
Volume/Issue: 2013/108
Series: IMF Working Papers
Author(s):
Christian Henn
,
Chris Papageorgiou
, and
Nicola Spatafora
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
15
May
2013
DOI: http://dx.doi.org/10.5089/9781484351635.001
ISBN: 9781484351635
This paper develops new, far more extensive estimates of export quality, covering 178 countries and hundreds of products over 1962–2010. Quality upgrading is particularly rapid during the early stages of dev...
Series: Fiscal Monitor
Author(s):
International Monetary Fund. Fiscal Affairs Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
16
April
2013
DOI: http://dx.doi.org/10.5089/9781475566253.089
ISBN: 9781475566253
Continued progress in reducing advanced economy deficits and a gradually improving external environment have lowered short-term fiscal risks, according to this issue, but global prospects nevertheless remain subdue...
Volume/Issue: 2013/73
Series: IMF Working Papers
Author(s):
Joong Kang
,
Alessandro Prati
, and
Alessandro Rebucci
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
March
2013
DOI: http://dx.doi.org/10.5089/9781484320112.001
ISBN: 9781484320112
We use a heterogeneous panel VAR model identified through factor analysis to study the dynamic response of exports, imports, and per capita GDP growth to a “global” aid shock. We find that a global ai...
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
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...
Volume: 12
Series: Technical Notes and Manuals
Author(s):
David Coady
,
Javier Arze del Granado
,
Luc Eyraud
, and
Anita Tuladhar
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
24
January
2013
DOI: http://dx.doi.org/10.5089/9781475566949.005
ISBN: 9781475566949
Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of...
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
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...
Volume/Issue: 2012/300
Series: IMF Working Papers
Author(s):
Abdul Abiad
,
John Bluedorn
,
Jaime Guajardo
, and
Petia Topalova
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
December
2012
DOI: http://dx.doi.org/10.5089/9781475584851.001
ISBN: 9781475584851
Economic performance in many emerging market and developing economies (EMDEs) improved substantially over the past twenty years. The past decade was particularly good-for the first time EMDEs spent more time in exp...
Volume/Issue: 2012/13
Series: Staff Discussion Notes
Author(s):
Chris Papageorgiou
, and
Nicola Spatafora
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
14
December
2012
DOI: http://dx.doi.org/10.5089/9781475532180.006
ISBN: 9781475532180
Limited diversification is an underlying characteristic of many low-income countries (LICs). Concentration in sectors with limited scope for increases in productivity and quality may result in less broad-based and...
Volume/Issue: 2012/264
Series: IMF Working Papers
Author(s):
Era Dabla-Norris
, and
Yasemin Bal-Gunduz
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
02
November
2012
DOI: http://dx.doi.org/10.5089/9781475528510.001
ISBN: 9781475528510
This paper develops a new index which provides early warning signals of a growth crisis in the event of large external shocks in low-income countries. Multivariate regression analysis and a univariate signaling app...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
September
2012
DOI: http://dx.doi.org/10.5089/9781616354169.011
ISBN: 9781616354169
The IMF's 2012 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2012, which covers the period from May 1, 2011, thr...
Volume/Issue: 2012/218
Series: IMF Working Papers
Author(s):
Davide Furceri
,
Ernesto Crivelli
, and
Joël Toujas-Bernate
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
August
2012
DOI: http://dx.doi.org/10.5089/9781475505689.001
ISBN: 9781475505689
The aim of this paper is to provide new estimates of employment-output elasticities and assess the effect of structural and macroeocnomic policies on the employment-intensity of growth. Using an unbalanced panel of...
Volume/Issue: 2012/205
Series: IMF Working Papers
Author(s):
Nkunde Mwase
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
August
2012
DOI: http://dx.doi.org/10.5089/9781475505559.001
ISBN: 9781475505559
This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. I...
Series: Selected Decisions
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
20
July
2012
DOI: http://dx.doi.org/10.5089/9781616353889.014
ISBN: 9781616353889
The Thirty-Sixth Issue of Selected Decisions and Selected Documents of the International Monetary Fund includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the I...
Volume/Issue: 2012/186
Series: IMF Working Papers
Author(s):
Ernesto Crivelli
,
Sanjeev Gupta
,
Priscilla Muthoora
, and
Dora Benedek
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
July
2012
DOI: http://dx.doi.org/10.5089/9781475505344.001
ISBN: 9781475505344
This paper reexamines the relationship between aid and domestic tax revenues using a more recent and comprehensive dataset covering 118 countries for the period 1980 - 2009. Overall, our results support earlier fin...
Volume/Issue: 2012/126
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
June
2012
DOI: http://dx.doi.org/10.5089/9781475504033.002
ISBN: 9781475504033
Papua New Guinea has seen solid economic growth over the past decade, supported by sound macroeconomic policies. This 2012 Article IV Consultation discusses that the financial sector in Papua New Guinea remains pro...
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
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...
Volume/Issue: 2012/65
Series: IMF Working Papers
Author(s):
Davide Furceri
,
Lorenzo E. Bernal-Verdugo
, and
Dominique Guillaume
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
March
2012
DOI: http://dx.doi.org/10.5089/9781463938420.001
ISBN: 9781463938420
Using a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium...
Volume/Issue: 2012/73
Series: IMF Working Papers
Author(s):
Constant Lonkeng Ngouana
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
March
2012
DOI: http://dx.doi.org/10.5089/9781475502251.001
ISBN: 9781475502251
This paper assesses the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes: a hard peg to a single currency and a peg to a basket of currencies. I link...
Volume/Issue: 2012/87
Series: IMF Working Papers
Author(s):
Marc Quintyn
, and
Sophia Gollwitzer
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
March
2012
DOI: http://dx.doi.org/10.5089/9781475502510.001
ISBN: 9781475502510
This paper tests the theoretical framework developed by North, Wallis and Weingast (2009) on the transition from closed to open access societies. They posit that societies need to go through three doorsteps: (i) th...
Volume/Issue: 2012/49
Series: IMF Working Papers
Author(s):
Era Dabla-Norris
,
Raphael Espinoza
, and
Sarwat Jahan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
February
2012
DOI: http://dx.doi.org/10.5089/9781463937102.001
ISBN: 9781463937102
This paper documents the expanding economic linkages between low-income countries (LICs) and a narrow group of "Emerging Market leaders" that have become major players in regional and global trade and financial flo...
Volume/Issue: 2012/7
Series: IMF Working Papers
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
January
2012
DOI: http://dx.doi.org/10.5089/9781463930561.001
ISBN: 9781463930561
This paper provides a historical perspective on the role of international reserves in low-income countries as a cushion against large external shocks over the last three decades - including the current global crisi...
Volume/Issue: 48/4
Series: Finance & Development
Author(s):
International Monetary Fund. External Relations Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
07
December
2011
DOI: http://dx.doi.org/10.5089/9781451953695.022
ISBN: 9781451953695
Africa's Middle-Class Motor finds growing evidence that a recent resurgence in the continent's economic well-being has staying power. In his overview article, Harvard professor Calestous Juma says the emphasis for...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
September
2011
Language: German
DOI: http://dx.doi.org/10.5089/9781616351144.011
ISBN: 9781616351144
The IMF's 2011 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2011, which covers the period from May 1, 2010, thr...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
21
September
2011
Language: French
DOI: http://dx.doi.org/10.5089/9781616351137.011
ISBN: 9781616351137
The IMF's 2011 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2011, which covers the period from May 1, 2010, thr...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
21
September
2011
DOI: http://dx.doi.org/10.5089/9781616351182.011
ISBN: 9781616351182
The IMF's 2011 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2011, which covers the period from May 1, 2010, thr...
Volume/Issue: 2011/163
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
05
July
2011
DOI: http://dx.doi.org/10.5089/9781455291694.002
ISBN: 9781455291694
Papua New Guinea (PNG) was only mildly impacted on the financial front during the global crisis. Although the financial sector in PNG has been a source of strength in 2000, vulnerabilities exist and need to be care...
Volume/Issue: 2011/117
Series: IMF Staff Country Reports
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
25
May
2011
DOI: http://dx.doi.org/10.5089/9781455281589.002
ISBN: 9781455281589
Papua New Guinea showed solid economic growth, supported by greater political stability, fiscal framework, and a healthy banking sector. Executive Directors encouraged the authorities to consider tighter macroecono...
Volume/Issue: 2011/112
Series: IMF Working Papers
Author(s):
Mahvash Qureshi
,
Atish Ghosh
, and
Charalambos Tsangarides
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
May
2011
DOI: http://dx.doi.org/10.5089/9781455261413.001
ISBN: 9781455261413
This paper revisits the link between the nominal exchange rate regime and inflation, based on a sample of 145 emerging market and developing countries (EMDCs) over the period 1980-2010. We contend that, just as a d...
Volume/Issue: 2011/8
Series: Staff Discussion Notes
Author(s):
Jonathan Ostry
, and
Andrew Berg
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
08
April
2011
DOI: http://dx.doi.org/10.5089/9781463926564.006
ISBN: 9781463926564
This note raises the IMF’s profile on a number of issues related to inequality, unemployment, governance, etc. It builds on earlier empirical work that examined correlations between growth downbreaks/duratio...
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
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...
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
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...
Volume/Issue: 2011/62
Series: IMF Working Papers
Author(s):
Rabah Arezki
, and
Markus Bruckner
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
March
2011
DOI: http://dx.doi.org/10.5089/9781455221066.001
ISBN: 9781455221066
We examine the effects that variations in the international food prices have on democracy and intra-state conflict using panel data for over 120 countries during the period 1970-2007. Our main finding is that in Lo...
Volume/Issue: 2011/31
Series: IMF Working Papers
Author(s):
Lynge Nielsen
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
01
February
2011
DOI: http://dx.doi.org/10.5089/9781455216789.001
ISBN: 9781455216789
The paper analyzes how the UNDP, the World Bank, and the IMF classify countries based on their level of development. These systems are found lacking in clarity with regard to their underlying rationale. The paper a...
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
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...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
06
October
2010
Language: French
DOI: http://dx.doi.org/10.5089/9781616350185.011
ISBN: 9781616350185
The Annual Report to the Board of Governors reviews the IMF's activities and policies during any given year. There are five chapters: (1) Overview, (2) Developments in the Global Economy and Financial Markets, (3)...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
04
October
2010
DOI: http://dx.doi.org/10.5089/9781616350253.011
ISBN: 9781616350253
This paper presents the IMF financial statements for 2009-10. The paper highlights that the consolidated financial statements of the General Department are prepared in accordance with International Financial Report...
Series: Annual Report of the Executive Board
Author(s):
International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
04
October
2010
DOI: http://dx.doi.org/10.5089/9781616350154.011
ISBN: 9781616350154
The IMF's 2010 Annual Report chronicles the response of the Fund's Executive Board and staff to the global financial crisis and other events during financial year 2010, which covers the period from May 1, 2009, thr...
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
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...
