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Construire des économies intégrées en Afrique de l'Ouest
			: Expériences de la gestion de la croissance, de l'inclusion et de la volatilité

Construire des économies intégrées en Afrique de l'Ouest : Expériences de la gestion de la croissance, de l'inclusion et de la volatilité »

Series: Books

Author(s): Alexei Kireyev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 2016

Language: French

DOI: http://dx.doi.org/10.5089/9781475532258.071

ISBN: 9781475532258

Keywords: taxe, politique monétaire, marché, intérêts, dette, Croissance inclusive, Unions monétaires, Unions monétaires, Union économique et monétaire ouest-africaine, Union monétaire ouest-africaine

Cet ouvrage examine comment l'UEMOA, union monétaire au parcours historique long et varié, peut atteindre ses objectifs de développement et de stabilité, améliorer les conditions de vie de ses citoyens et assurer u...

Perspectives de l’économie mondiale Avril 2016
			: Une croissance trop faible depuis trop longtemps

Perspectives de l’économie mondiale Avril 2016 : Une croissance trop faible depuis trop longtemps »

Series: World Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2016

Language: French

DOI: http://dx.doi.org/10.5089/9781475544565.081

ISBN: 9781475544565

Keywords: emerging market, market, environment, investment, labor market

Major macroeconomic realignments are affecting prospects differentially across the world's countries and regions. The April 2016 WEO examines the causes and implications of these realignments-including the slowdown...

Iceland
			: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland

Iceland : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland »

Volume/Issue: 2016/179

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 2016

DOI: http://dx.doi.org/10.5089/9781475563603.002

ISBN: 9781475563603

Keywords: monetary fund, debt, markets, capital flows, investment

This paper provides an assessment of the economic conditions, outlook, and crises in Iceland. There is a mounting sense that capital controls hurt growth prospects, repressing local financial markets, scaring forei...

Jamaica
			: 2016 Article IV Consultation, Eleventh and Twelfth Reviews Under the Extended Fund Facility and Request for Modification of Performance  Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

Jamaica : 2016 Article IV Consultation, Eleventh and Twelfth Reviews Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica »

Volume/Issue: 2016/181

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2016

DOI: http://dx.doi.org/10.5089/9781475517682.002

ISBN: 9781475517682

Keywords: debt, monetary fund, public debt, tax, exchange

This paper aims to discuss the economic reform program in Jamaica that focuses on reducing macroeconomic vulnerabilities, fostering growth, creating conditions for financial deepening and inclusion, reallocating pu...

United Kingdom
			: Financial Sector Assessment Program-Fund Management and Equity Trading Platforms: Regulation, Supervision, and Systemic Risk Monitoring-Technical Note

United Kingdom : Financial Sector Assessment Program-Fund Management and Equity Trading Platforms: Regulation, Supervision, and Systemic Risk Monitoring-Technical Note »

Volume/Issue: 2016/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2016

DOI: http://dx.doi.org/10.5089/9781484393833.002

ISBN: 9781484393833

Keywords: investment, trading, markets, equity, equity trading

This paper reviews the effectiveness of the regulation, supervision, and systemic risk monitoring of investment funds and their managers. The United Kingdom has the largest fund management market in Europe and a ke...

United Kingdom
			: Financial Sector Assessment Program-Macroprudential Institutional Framework-Technical Note

United Kingdom : Financial Sector Assessment Program-Macroprudential Institutional Framework-Technical Note »

Volume/Issue: 2016/160

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2016

DOI: http://dx.doi.org/10.5089/9781475574920.002

ISBN: 9781475574920

Keywords: financial stability, risk, bank, accountability, systemic risk

This paper reviews the institutional framework for the conduct of macroprudential policy in the United Kingdom and the steps taken by the authorities to make the macroprudential framework operational. An effective...

United Kingdom
			: Financial Sector Assessment Program-Property Markets and Financial Stability-Technical Note

United Kingdom : Financial Sector Assessment Program-Property Markets and Financial Stability-Technical Note »

Volume/Issue: 2016/157

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2016

DOI: http://dx.doi.org/10.5089/9781484393727.002

ISBN: 9781484393727

Keywords: property, markets, mortgage, lending, market

The main purpose of this paper is to assess the risks to the financial sector that currently emanate from the United Kingdom property markets. The interaction of property markets with financial markets has importan...

United Kingdom
			: Selected Issues

United Kingdom : Selected Issues »

Volume/Issue: 2016/169

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2016

DOI: http://dx.doi.org/10.5089/9781484395370.002

ISBN: 9781484395370

Keywords: trade, exports, gdp, investment, financial sector

This paper aims to provide European Union (EU), while recognizing that the choice of whether to remain in the EU is for U.K. voters to make and that their decisions will reflect both economic and noneconomic factor...

Sri Lanka
			: Staff Report for the 2016 Article IV Consultation and Request for a Three-Year Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Sri Lanka

Sri Lanka : Staff Report for the 2016 Article IV Consultation and Request for a Three-Year Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement, and Statement by the Executive Director for Sri Lanka »

Volume/Issue: 2016/150

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2016

DOI: http://dx.doi.org/10.5089/9781475532388.002

ISBN: 9781475532388

Keywords: tax, exchange, monetary fund, debt, inflation

This paper discusses economic performance, outlook, and risks of Sri Lankan economy. Macroeconomic performance in 2015 reflected a mix between positive underlying growth momentum, the negative impact of unbalanced...

Canada
			: 2016 Article IV Consultation-Press Release; and Staff Report

Canada : 2016 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2016/146

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2016

DOI: http://dx.doi.org/10.5089/9781475530872.002

ISBN: 9781475530872

Keywords: oil prices, investment, market, monetary fund, inflation

This paper describes recent economic developments, outlook, risks, and policy challenges of the Canadian economy. After almost two years, the effects of the oil price shock continue to reverberate through the Canad...

Thailand
			: Selected Issues

Thailand : Selected Issues »

Volume/Issue: 2016/140

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2016

DOI: http://dx.doi.org/10.5089/9781484376003.002

ISBN: 9781484376003

Keywords: market, price, value, volatility, market volatility

This paper discusses selected issues related to the economy of Thailand. The economy of Thailand is largely dependent on China. A 1 percent decline in China's GDP lowers Thailand's output by about 0.2 percent. Popu...

Mexico
			: Arrangement Under the Flexible Credit Line and Cancellation of Current Arrangement-Press release and Staff Report

Mexico : Arrangement Under the Flexible Credit Line and Cancellation of Current Arrangement-Press release and Staff Report »

Volume/Issue: 2016/137

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2016

DOI: http://dx.doi.org/10.5089/9781475556865.002

ISBN: 9781475556865

Keywords: monetary fund, credit line, inflation, liquidity, debt

This paper discusses recent economic developments, outlook, and risks in the economy of Mexico. The economy continues to grow at a moderate pace. Growth reached 21/2 percent in 2015 and is projected to remain at a...

Luxembourg
			: 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Luxembourg

Luxembourg : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Luxembourg »

Volume/Issue: 2016/118

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2016

DOI: http://dx.doi.org/10.5089/9781484349113.002

ISBN: 9781484349113

Keywords: market, investment, monetary fund, inflation, financial system

This paper discusses growth prospects and downside risks of Luxembourg's economy. Luxembourg's small open economy plays a pivotal role in intermediating global capital flows. Deep-rooted traditions of fiscal pruden...

Malaysia
			: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia

Malaysia : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malaysia »

Volume/Issue: 2016/110

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2016

DOI: http://dx.doi.org/10.5089/9781484343067.002

ISBN: 9781484343067

Keywords: exchange, debt, monetary fund, capital outflows

This paper discusses the extent to which the Malaysian economy has been hit by a number of external and domestic shocks since late 2014, including sharply lower energy prices, spillovers from China, capital outflow...

Regional Economic Outlook, April 2016, Asia and Pacific
			: Building on Asia's Strengths during Turbulent Times

Regional Economic Outlook, April 2016, Asia and Pacific : Building on Asia's Strengths during Turbulent Times »

Series: Regional Economic Outlook

Author(s): Ranil Salgado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2016

DOI: http://dx.doi.org/10.5089/9781498350921.086

ISBN: 9781498350921

Keywords: Regional Economic Outlook, Consumption, Development, Supply and demand, Financial crises, Commodity markets, Economies, trade, income, prices

Although Asia remains a growth leader in the global economy, growth is expected to ease slightly to 5.5 percent during 2016, with countries affected to varying degrees by a still weak global recovery, slowing globa...

Regional Economic Outlook, April 2016, Sub-Saharan Africa
			: Time for a Policy Reset

Regional Economic Outlook, April 2016, Sub-Saharan Africa : Time for a Policy Reset »

Series: Regional Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2016

DOI: http://dx.doi.org/10.5089/9781498388139.086

ISBN: 9781498388139

Keywords: Commodity price fluctuations, Terms of trade, financial development, commodity, exchange, debt, exchange rate

Economic growth in sub-Saharan Africa as a whole has fallen to its lowest level in 15 years, though with large variation among countries in the region. The sharp decline in commodity prices has severely strained ma...

Ukraine
			: Technical Assistance Report-Self-Funding of the National Securities and Stock Market Commission

Ukraine : Technical Assistance Report-Self-Funding of the National Securities and Stock Market Commission »

Volume/Issue: 2016/108

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2016

DOI: http://dx.doi.org/10.5089/9781484342077.002

ISBN: 9781484342077

Keywords: market, revenue, securities, budget, market participants

This paper discusses the self-funding model of the National Securities and Stock Market Commission (NSSMC) in Ukraine. There are a number of challenges with NSSMC's funding and the constraints placed on it through...

Turkey
			: Selected Issue

Turkey : Selected Issue »

Volume/Issue: 2016/105

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 April 2016

DOI: http://dx.doi.org/10.5089/9781484338209.002

ISBN: 9781484338209

Keywords: saving, savings, private saving, households, household

This paper discusses key issues of Turkey's economy including private savings in Turkey, increase in the minimum wage for 2016, and nonfinancial corporate sector debt in Turkey. Over the last decade and half, Turke...

Building Integrated Economies in West Africa
			: Lessons in Managing Growth, Inclusiveness, and Volatility

Building Integrated Economies in West Africa : Lessons in Managing Growth, Inclusiveness, and Volatility »

Series: Books

Author(s): Alexei Kireyev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2016

DOI: http://dx.doi.org/10.5089/9781513511832.071

ISBN: 9781513511832

Keywords: Fiscal policy, Monetary unions, West African Economic and Monetary Union, West African Monetary Union, Inclusive growth, Currency unions, tax, monetary policy, market, interest

The West African Economic and Monetary Union (WAEMU) has a long and varied history, and this book examines how the WAEMU can achieve its development and stability objectives, improve the livelihood of its people, a...

Fiscal Monitor, April 2016
			: Acting Now, Acting Together

Fiscal Monitor, April 2016 : Acting Now, Acting Together »

Series: Fiscal Monitor

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2016

DOI: http://dx.doi.org/10.5089/9781513510590.089

ISBN: 9781513510590

Keywords: Technological innovation, Productivity, Fiscal data, Fiscal framework, Fiscal Monitor, debt, tax, emerging market, income, market

The global economy remains fragile at this time. While the recovery in advanced economies is softening, many emerging market and developing economies have experienced a significant economic slowdown, and some large...

World Economic Outlook, April 2016
			: Too Slow for Too Long

World Economic Outlook, April 2016 : Too Slow for Too Long »

Series: World Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 April 2016

DOI: http://dx.doi.org/10.5089/9781498398589.081

ISBN: 9781498398589

Keywords: emerging market, market, environment, investment, labor market

Major macroeconomic realignments are affecting prospects differentially across the world's countries and regions. The April 2016 WEO examines the causes and implications of these realignments-including the slowdown...

Global Financial Stability Report, April 2016
			: Potent Policies for a Successful Normalization

Global Financial Stability Report, April 2016 : Potent Policies for a Successful Normalization »

Series: Global Financial Stability Report

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2016

DOI: http://dx.doi.org/10.5089/9781513506777.082

ISBN: 9781513506777

Keywords: Financial stability, Global Financial Stability Report, Global Financial Stability Reports, Global Financial Stability Risks, International financial stability, Macroprudential policies and financial stability, market, emerging market, insurance, equity

The current Global Financial Stability Report (April 2016) finds that global financial stability risks have risen since the last report in October 2015. The new report finds that the outlook has deteriorated in adv...

Nigeria
			: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria

Nigeria : 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria »

Volume/Issue: 2016/101

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 April 2016

DOI: http://dx.doi.org/10.5089/9781484320037.002

ISBN: 9781484320037

Keywords: exchange, monetary fund, exchange rate, oil prices, revenue

This paper discusses outlook and risk for Nigeria. Its economy has been hit hard by global developments that have aggravated longstanding development weaknesses. Macrofinancial outcomes are closely linked with the...

Nigeria
			: Selected Issues

Nigeria : Selected Issues »

Volume/Issue: 2016/102

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 April 2016

DOI: http://dx.doi.org/10.5089/9781475550559.002

ISBN: 9781475550559

Keywords: pih, oil price, investment, expenditure, financial savings

This paper discusses a few selected issues of the Nigerian economy-options and strategies for a fiscal rule for oil wealth management, enhancing the effectiveness of monetary policy, and recent developments and pro...

IMF Research Bulletin, March 2016

IMF Research Bulletin, March 2016 »

Volume/Issue: 17/1

Series: IMF Research Bulletin

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 April 2016

DOI: http://dx.doi.org/10.5089/9781484316498.026

ISBN: 9781484316498

Keywords: investment, advanced economies, cost of capital, financial constraints, uncertainty, housing markets, house price, Great Recession,

The IMF Research Bulletin includes listings of recent IMF Working Papers and Staff Discussion Notes. The research summaries in this issue are 'Explaining the Recent Slump in Investment' (Mathieu Bussiere, Laurent F...

Pakistan
			: Tenth Review Under the Extended Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

Pakistan : Tenth Review Under the Extended Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan »

Volume/Issue: 2016/94

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2016

DOI: http://dx.doi.org/10.5089/9781475565706.002

ISBN: 9781475565706

Keywords: tax, reserves, monetary fund, budget, deficit

This paper discusses economic performance status and policy developments of Pakistan. Amid setbacks to structural reform, the authorities have made substantial progress in restoring economic stability. Economic act...

West African Economic and Monetary Union
			: Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for West African Economic and Monetary Union

West African Economic and Monetary Union : Common Policies of Member Countries-Press Release; Staff Report; and Statement by the Executive Director for West African Economic and Monetary Union »

Volume/Issue: 2016/96

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2016

DOI: http://dx.doi.org/10.5089/9781513535944.002

ISBN: 9781513535944

Keywords: monetary fund, deficit, inflation, monetary policy, investment

This paper discusses recent economic developments, outlook, and risks of West African Economic and Monetary Union (WAEMU). Despite the fragile security situation in some member countries and a less favorable extern...

Ukraine: Technical Assistance Report-Reforming the State Fiscal Services

Ukraine: Technical Assistance Report-Reforming the State Fiscal Services »

Volume/Issue: 2016/48

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2016

DOI: http://dx.doi.org/10.5089/9781475593174.002

ISBN: 9781475593174

Keywords: tax, audit, enforcement, taxes, technical assistance

This paper discusses State Fiscal Service (SFS) Reform of Ukraine and a plan of action. This mission is a follow-up to the Fiscal Affairs Department (FAD) mission of July 2014 and has focused on the recently adopte...

Mali
			: Technical Assistance Report-Mining Taxation: Modeling of Five Mining Operations

Mali : Technical Assistance Report-Mining Taxation: Modeling of Five Mining Operations »

Volume/Issue: 2016/84

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2016

DOI: http://dx.doi.org/10.5089/9781513597263.002

ISBN: 9781513597263

Keywords: tax, revenue, income tax, income, technical assistance

This paper discusses Malian mining taxation. Mali's industrial mining sector is predominantly gold mining, with six industrial mines currently active. Most of the mines are old, but some have substantial reserves;...

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

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

Volume/Issue: 2016/81

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2016

DOI: http://dx.doi.org/10.5089/9781513583624.002

ISBN: 9781513583624

Keywords: market, monetary fund, commodity price, investment

This paper discusses key issues related to the Indonesian economy. Indonesia has weathered challenging economic conditions well. The economy has safely navigated the commodity price shocks, tightening financial con...

China's Slowdown and Global Financial Market Volatility
			: Is World Growth Losing Out?

China's Slowdown and Global Financial Market Volatility : Is World Growth Losing Out? »

Volume/Issue: 2016/63

Series: IMF Working Papers

Author(s): Paul Cashin , Kamiar Mohaddes , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2016

DOI: http://dx.doi.org/10.5089/9781513590455.001

ISBN: 9781513590455

Keywords: China&;amp;#x2019;s slowdown, global financial market volatility, international business cycle, Global VAR, volatility, market volatility, financial market, trade, global financial market, Time-Series Models

China's GDP growth slowdown and a surge in global financial market volatility could both adversely affect an already weak global economic recovery. To quantify the global macroeconomic consequences of these shocks,...

Has Globalization Really Increased Business Cycle Synchronization?

Has Globalization Really Increased Business Cycle Synchronization? »

Volume/Issue: 2016/54

Series: IMF Working Papers

Author(s): Eric Monnet , and Damien Puy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2016

DOI: http://dx.doi.org/10.5089/9781513564890.001

ISBN: 9781513564890

Keywords: International Business Cycles, Synchronization, business cycle, economies, Open Economy Macroeconomics, International Policy Coordination and Transmission, All Countries,

This paper assesses the strength of business cycle synchronization between 1950 and 2014 in a sample of 21 countries using a new quarterly dataset based on IMF archival data. Contrary to the common wisdom, we find...

Belgium
			: 2016 Article IV Consultation--Press Release; Staff Report

Belgium : 2016 Article IV Consultation--Press Release; Staff Report »

Volume/Issue: 2016/77

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2016

DOI: http://dx.doi.org/10.5089/9781513547480.002

ISBN: 9781513547480

Keywords: tax, market, debt, labor market, monetary fund

This paper discusses economic development and policies of Belgium. The new government has taken important steps to support job creation and address the cost of aging-notably through wage moderation, pension reform,...

Singapore's Export Elasticities
			: A Disaggregated Look into the Role of Global Value Chains and Economic Complexity

Singapore's Export Elasticities : A Disaggregated Look into the Role of Global Value Chains and Economic Complexity »

Volume/Issue: 2016/52

Series: IMF Working Papers

Author(s): Elif Arbatli , and Gee Hee Hong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 March 2016

DOI: http://dx.doi.org/10.5089/9781513556901.001

ISBN: 9781513556901

Keywords: Trade elasticities, trade structure, global supply chain, economic complexity, trade, value, exports, price, share, Input-Output Analysis

Singapore is one of the world's most open economies, with the size of its trade reaching about 350 percent of its GDP. With the rise of highly diversified cross-border production networks, Singapore has come to pla...

India
			: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India

India : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India »

Volume/Issue: 2016/75

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2016

DOI: http://dx.doi.org/10.5089/9781513524306.002

ISBN: 9781513524306

Keywords: inflation, monetary fund, reserve, banking sector, market

This paper discusses outlook and risk related to the economic development of India. The Indian economy is on a recovery path, supported by a large terms of trade gain (about 21/2 percent of GDP) and reduced externa...

India

India »

Volume/Issue: 2016/76

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2016

DOI: http://dx.doi.org/10.5089/9781513525815.002

ISBN: 9781513525815

Keywords: prices, price, market, labor market, volatility, Corporate sector, China, Banks, Capital controls, Capital account liberalization

This paper explores key issues affecting the Indian economy and implications for fiscal, monetary, financial sector, and other structural policies. This paper evaluates the build-up of corporate and banking sector...

Sustainability and Equity Challenges
			: Some Arithmetic on Lebanon's Pension System

Sustainability and Equity Challenges : Some Arithmetic on Lebanon's Pension System »

Volume/Issue: 2016/46

Series: IMF Working Papers

Author(s): Mariusz Jarmuzek , and Najla Nakhle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2016

DOI: http://dx.doi.org/10.5089/9781513541488.001

ISBN: 9781513541488

Keywords: demographics, equity, pension reform, sustainability, pension, pension expenditure, pension system, retirement, employees, Social Security and Public Pensions

Reform of Lebanon's pension system is indispensable. The country already faces fiscal sustainability risks, which will be compounded in the future by significantly higher pensionrelated spending and liabilities, ma...

Argentina
			: Economic Developments; February 27, 2014

Argentina : Economic Developments; February 27, 2014 »

Volume/Issue: 2016/68

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 2016

DOI: http://dx.doi.org/10.5089/9781498396370.002

ISBN: 9781498396370

Keywords: exchange, inflation, balance of payments, economic developments, monetary fund

This report presents IMF staff analysis based on publicly available information through end- January 2014. Following its 2002 financial crisis, Argentina experienced a strong economic recovery, helped by an expansi...

Republic of Moldova: Financial Sector Assessment Program-Oversight and Supervision of Financial Market Infrastructures (FMIS) and Risk Assessment of Central Securities Depositories-Technical Note

Republic of Moldova: Financial Sector Assessment Program-Oversight and Supervision of Financial Market Infrastructures (FMIS) and Risk Assessment of Central Securities Depositories-Technical Note »

Volume/Issue: 2016/72

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 2016

DOI: http://dx.doi.org/10.5089/9781513504322.002

ISBN: 9781513504322

Keywords: securities, market, settlement, monetary fund, financial market

Moldova has a modern interbank payment system that lies at the heart of its financial markets. The Automated Interbank Payment System (AIPS) settled on average MDL 2 billion (US$ 214 million) per day, or 2.7 percen...

Macroeconomic Stability in Resource-Rich Countries

Macroeconomic Stability in Resource-Rich Countries »

Volume/Issue: 2016/36

Series: IMF Working Papers

Author(s): Elva Bova , Paulo Medas , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2016

DOI: http://dx.doi.org/10.5089/9781475596465.001

ISBN: 9781475596465

Keywords: resource-rich countries, procyclical fiscal policy, commodity, prices, price, fiscal policy, General, Models with Panel Data, All Countries,, Natural resources

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal p...

Trading on Their Terms? Commodity Exporters in the Aftermath of the Commodity Boom

Trading on Their Terms? Commodity Exporters in the Aftermath of the Commodity Boom »

Volume/Issue: 2016/27

Series: IMF Working Papers

Author(s): Aqib Aslam , Samya Beidas-Strom , Rudolfs Bems , Oya Celasun , Sinem Kılıç Çelik , and Zsoka Koczan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 February 2016

DOI: http://dx.doi.org/10.5089/9781498338158.001

ISBN: 9781498338158

Keywords: Resource Boom, commodity, output, trade, price, prices, Global Commodity Crises, Resource Booms, All Countries,, Natural resources

Commodity prices have declined sharply over the past three years, and output growth has slowed considerably among countries that are net exporters of commodities. A critical question for policy makers in these econ...

Kingdom of the Netherlands-Netherlands
			: Selected Issues

Kingdom of the Netherlands-Netherlands : Selected Issues »

Volume/Issue: 2016/46

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2016

DOI: http://dx.doi.org/10.5089/9781475557695.002

ISBN: 9781475557695

Keywords: tax, income, pension, savings, income tax

This paper aims to contribute to the discussion by sketching ways in which the taxation equity-efficiency frontier could be shifted outward in the Netherlands. In a nutshell, we argue that significant efficiency ga...

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

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

Volume/Issue: 2016/39

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 February 2016

DOI: http://dx.doi.org/10.5089/9781484398654.002

ISBN: 9781484398654

Keywords: prices, gdp, risks, debt, investment

The 2015 Article IV Consultation provides an overview of New Zealand's economic development and policies. Tailwinds have supported the economy's strong growth after the global financial crisis. However, the tailwin...

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

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

Volume/Issue: 2016/34

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2016

DOI: http://dx.doi.org/10.5089/9781498390705.002

ISBN: 9781498390705

Keywords: transparency, monetary fund, macroeconomic stability, debt, tax

The 2015 Article IV Consultation presents economic outlook and risks of Nicaragua. Over the last three years, real GDP growth has averaged 4.8 percent, one of the highest in the region, while inflation has remained...

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...

People's Republic of China-Hong Kong Special Administrative Region
			: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for People's Republic of China-Hong Kong Special Administrative Region

People's Republic of China-Hong Kong Special Administrative Region : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for People's Republic of China-Hong Kong Special Administrative Region »

Volume/Issue: 2016/17

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 January 2016

DOI: http://dx.doi.org/10.5089/9781498303835.002

ISBN: 9781498303835

Keywords: property, market, interest rates, monetary fund, interest

This 2015 Article IV Consultation highlights that the growth of Hong Kong Special Administrative Region is expected at 2.25 percent in 2015, with domestic demand acting as the principal source of momentum. Growth i...

Pakistan
			: Staff Report for the 2015 Article IV Consultation, Ninth Review Under the Extended Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Request for Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Pakistan

Pakistan : Staff Report for the 2015 Article IV Consultation, Ninth Review Under the Extended Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Request for Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Pakistan »

Volume/Issue: 2016/1

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 January 2016

DOI: http://dx.doi.org/10.5089/9781513557007.002

ISBN: 9781513557007

Keywords: tax, budget, monetary fund, deficit, exchange

This 2015 Article IV Consultation highlights that starting from a difficult position in 2013, Pakistan has made substantial progress in reducing near-term economic vulnerabilities. Economic growth gradually increas...

Floating with a Load of FX Debt?

Floating with a Load of FX Debt? »

Volume/Issue: 2015/284

Series: IMF Working Papers

Author(s): Tatsiana Kliatskova , and Uffe Mikkelsen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

DOI: http://dx.doi.org/10.5089/9781513543307.001

ISBN: 9781513543307

Keywords: FX interventions, Balance sheet effects, exchange, exchange rate, currency, debt, International Lending and Debt Problems, All Countries,

Countries with de jure floating exchange rate regimes are often reluctant to allow their currencies to float freely in practice. One reason why countries may wish to limit exchange rate volatility is potential nega...

Sharing a Ride on the Commodities Roller Coaster
			: Common Factors in Business Cycles of Emerging Economies

Sharing a Ride on the Commodities Roller Coaster : Common Factors in Business Cycles of Emerging Economies »

Volume/Issue: 2015/280

Series: IMF Working Papers

Author(s): Andres Fernandez , Andres Gonzalez , and Diego Rodriguez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 December 2015

DOI: http://dx.doi.org/10.5089/9781513587677.001

ISBN: 9781513587677

Keywords: Emerging economies, common factors, Bayesian estimation, dynamic stochastic equilibrium models, commodity, prices, price, commodity price, Open Economy Macroeconomics, International Business Cycles

Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). We document how these fluctuations correlate strongly with the business cycle in EMEs. We then...

International Sovereign Bonds by Emerging Markets and Developing Economies
			: Drivers of Issuance and Spreads

International Sovereign Bonds by Emerging Markets and Developing Economies : Drivers of Issuance and Spreads »

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

Keywords: Sovereign bond issuance, bond spreads, developing countries, bonds, sovereign bonds, bond, markets, sovereign bond, International Lending and Debt Problems, Asset Pricing

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...

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

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

Volume/Issue: 2015/327

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2015

DOI: http://dx.doi.org/10.5089/9781513559322.002

ISBN: 9781513559322

Keywords: investment, expenditure, finance, monetary fund, tax

This 2015 Article IV Consultation highlights that decline in oil prices has adversely affected Kuwait's fiscal and current account balances and slowed growth in 2014-15. Real non-oil GDP growth is projected to slow...

Multivariate Filter Estimation of Potential Output for the Euro Area and the United States

Multivariate Filter Estimation of Potential Output for the Euro Area and the United States »

Volume/Issue: 2015/253

Series: IMF Working Papers

Author(s): Ali Alichi , Olivier Bizimana , Silvia Domit , Emilio Fernández Corugedo , Douglas Laxton , Kadir Tanyeri , Hou Wang , and Fan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2015

DOI: http://dx.doi.org/10.5089/9781513556222.001

ISBN: 9781513556222

Keywords: Macroeconomic Modeling, inflation, unemployment, gdp, productivity, Model Construction and Estimation, Monetary Policy (Targets, Instruments, and Effects),

The estimates of potential output and the output gap presented in this paper are not official IMF estimates. The programs and potential output estimates in this paper can be downloaded from www.douglaslaxton.org.Th...

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...

Mexico
			: Review Under the Flexible Credit Line Arrangement-Press Release; and Staff Report

Mexico : Review Under the Flexible Credit Line Arrangement-Press Release; and Staff Report »

Volume/Issue: 2015/322

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2015

DOI: http://dx.doi.org/10.5089/9781513503158.002

ISBN: 9781513503158

Keywords: debt, monetary fund, credit line, public debt, market

This paper discusses Mexico's Review Under the Flexible Credit Line (FCL) Arrangement. Mexico has navigated successfully a complex external environment, characterized by falling commodity prices, a sharp appreciati...

Recognizing the Bias
			: Financial Cycles and Fiscal Policy

Recognizing the Bias : Financial Cycles and Fiscal Policy »

Volume/Issue: 2015/246

Series: IMF Working Papers

Author(s): Nina Budina , Borja Gracia , Xingwei Hu , and Sergejs Saksonovs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2015

DOI: http://dx.doi.org/10.5089/9781513508863.001

ISBN: 9781513508863

Keywords: housing cycles, private debt, debt bias, debt, price, output, prices, International Lending and Debt Problems, All Countries, debt bias.,

This paper argues that asset price cycles have significant effects on fiscal outcomes. In particular, there is evidence of debt bias-the tendency of debt to increase over the cycle- that is significantly larger for...

End of the Supercycle and Growth of Commodity Producers
			: The Case of Chile

End of the Supercycle and Growth of Commodity Producers : The Case of Chile »

Volume/Issue: 2015/242

Series: IMF Working Papers

Author(s): Luc Eyraud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 November 2015

DOI: http://dx.doi.org/10.5089/9781513531557.001

ISBN: 9781513531557

Keywords: Growth, prices, price, copper prices, copper price, market, Economic Growth of Open Economies, Global Commodity Crises, General,

This paper estimates the effect of copper prices on Chile's growth at various time horizons. We find that a price decline is likely to have a durable (although not permanent) effect on GDP growth: while the impact...

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

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

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

Keywords: commodity prices, monetary fund, liquidity, exchange, market

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...

Papua New Guinea
			: Selected Issues

Papua New Guinea : Selected Issues »

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

Keywords: bank, banks, services, banking, financial services

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...

Iceland
			: Technical Assistance Report-Optimal Reform and Distributional Analysis of the Personal Income Tax

Iceland : Technical Assistance Report-Optimal Reform and Distributional Analysis of the Personal Income Tax »

Volume/Issue: 2015/315

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

DOI: http://dx.doi.org/10.5089/9781513524047.002

ISBN: 9781513524047

Keywords: tax, income tax, taxes, tax rates, tax rate

This paper discusses key findings and recommendations of the Technical Assistance Report on Optimal Reform and Distributional Analysis of the Personal Income Tax (PIT). With regard to reforming the PIT schedule, it...

Mexico
			: 2015 Article IV Consultation-Press Release; and Staff Report

Mexico : 2015 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2015/313

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

DOI: http://dx.doi.org/10.5089/9781513571324.002

ISBN: 9781513571324

Keywords: inflation, exchange, monetary fund, market, exchange rate

This 2015 Article IV Consultation highlights that the economy of Mexico has continued to grow at a moderate pace, and capital outflow pressures have been limited. The flexible exchange rate has helped the economy a...

Mexico
			: Selected Issues

Mexico : Selected Issues »

Volume/Issue: 2015/314

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

DOI: http://dx.doi.org/10.5089/9781513593432.002

ISBN: 9781513593432

Keywords: fiscal, output, fiscal consolidation, output gap, fiscal multipliers

This Selected Issues paper analyzes fiscal multipliers in Mexico. Estimates of fiscal multipliers--obtained from state-level spending--fall within 0.6-0.7 after accounting for dynamic effects. However, the size of...

Steady as She Goes-Estimating Potential Output During Financial 'Booms and Busts'

Steady as She Goes-Estimating Potential Output During Financial 'Booms and Busts' »

Volume/Issue: 2015/233

Series: IMF Working Papers

Author(s): Helge Berger , Thomas Dowling , Sergi Lanau , Mico Mrkaic , Pau Rabanal , and Marzie Taheri Sanjani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 November 2015

DOI: http://dx.doi.org/10.5089/9781513503271.001

ISBN: 9781513503271

Keywords: Output gap, variables, gdp, demand, Financial Markets and the Macroeconomy, Model Construction and Estimation, Estimation, All Countries,

Potential output-in the sense of the GDP level or path an economy can sustain over the medium term-is a crucial benchmark for policymakers. However, it is difficult to estimate when financial 'booms and busts' are...

The Federal Democratic Republic of Ethiopia
			: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia

The Federal Democratic Republic of Ethiopia : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia »

Volume/Issue: 2015/300

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2015

DOI: http://dx.doi.org/10.5089/9781513560038.002

ISBN: 9781513560038

Keywords: exchange, investment, exchange rate, monetary fund, inflation

This 2015 Article IV Consultation highlights that Ethiopia's recent macroeconomic performance has continued to be strong overall, although with some rising domestic and external vulnerabilities. Economic growth in...

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

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

Volume/Issue: 2015/226

Series: IMF Working Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

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

ISBN: 9781513500805

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

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

Fiscal Monitor, October 2015
			: The Commodities Roller Coaster - A Fiscal Framework for Uncertain Times

Fiscal Monitor, October 2015 : The Commodities Roller Coaster - A Fiscal Framework for Uncertain Times »

Series: Fiscal Monitor

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

DOI: http://dx.doi.org/10.5089/9781513570709.089

ISBN: 9781513570709

Keywords: Commodities, Natural resources, Fiscal framework, debt, fiscal policy, investment, commodity, projections

This issue of the Fiscal Monitor examines the conduct of fiscal policy under the uncertainty caused by dependence on natural resource revenues. It draws on extensive past research on the behavior of commodity price...

Global Financial Stability Report, October 2015
			: Vulnerabilities, Legacies, and Policy Challenges - Risks Rotating to Emerging Markets

Global Financial Stability Report, October 2015 : Vulnerabilities, Legacies, and Policy Challenges - Risks Rotating to Emerging Markets »

Series: Global Financial Stability Report

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

DOI: http://dx.doi.org/10.5089/9781513582047.082

ISBN: 9781513582047

Keywords: Liquidity, global financial crisis, securities markets, corporate debt, commodity prices, corporate bonds, regulations, equity bubble, normalization, risk premiums

The October 2015 Global Financial Stability Report finds that, despite an improvement in financial stability in advanced economies, risks continue to rotate toward emerging markets. The global financial outlook is...

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

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

Series: Regional Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

DOI: http://dx.doi.org/10.5089/9781513575209.086

ISBN: 9781513575209

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

Economies in the Western Hemisphere are generally seeing a slowdown in growth. The U.S. economy regained momentum after a slow start at the beginning of the year, while in Latin America and the Caribbean economic a...

Spillovers from China onto Sub-Saharan Africa
			: Insights from the Flexible System of Global Models (FSGM)

Spillovers from China onto Sub-Saharan Africa : Insights from the Flexible System of Global Models (FSGM) »

Volume/Issue: 2015/221

Series: IMF Working Papers

Author(s): Derek Anderson , Jorge Canales Kriljenko , Paulo Drummond , Pedro Espaillat , and Dirk Muir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 2015

DOI: http://dx.doi.org/10.5089/9781513557885.001

ISBN: 9781513557885

Keywords: macroeconomic interdepedence, trade, investment, exports, economy, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics

What is the impact of economic spillovers from China on sub-Saharan Africa (SSA)? This is an increasingly important question because of China's growing economic role as a partner of SSA countriesfor both trade and...

World Economic Outlook, October 2015
			: Adjusting to Lower Commodity Prices

World Economic Outlook, October 2015 : Adjusting to Lower Commodity Prices »

Series: World Economic Outlook

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 2015

DOI: http://dx.doi.org/10.5089/9781513520735.081

ISBN: 9781513520735

Keywords: World Economic Outlook, economies, exchange rate, commodity, trade, prices

This issue discusses a number of factors affecting global growth, as well as growth prospects across the world's main countries and regions. It assesses the ongoing recovery from the global financial crisis in adva...

Emerging Powers and Global Governance
			: Whither the IMF?

Emerging Powers and Global Governance : Whither the IMF? »

Volume/Issue: 2015/219

Series: IMF Working Papers

Author(s): Rakesh Mohan , and Muneesh Kapur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2015

DOI: http://dx.doi.org/10.5089/9781513557403.001

ISBN: 9781513557403

Keywords: Global Governance, quota, economy, economies, global economy, weight, International Monetary Arrangements and Institutions, International Institutional Arrangements,

The governance structure in global bodies like the IMF continues to be disproportionally dominated by advanced economies. Sustained rapid growth in emerging and developing economies (EDEs) in the past 2-3 decades h...

Annual Report on Exchange Arrangements and Exchange Restrictions 2015

Annual Report on Exchange Arrangements and Exchange Restrictions 2015 »

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: 01 October 2015

DOI: http://dx.doi.org/10.5089/9781513528793.012

ISBN: 9781513528793

Keywords: exchange, foreign exchange, exchange rate, currency, market

This is the 66th issue of the AREAER, which provides comprehensive descriptions of the foreign exchange arrangements, exchange and trade systems, and capital controls of all IMF member countries. It describes each...

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

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

Volume/Issue: 2015/276

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

DOI: http://dx.doi.org/10.5089/9781513556642.002

ISBN: 9781513556642

Keywords: monetary fund, revenue, fiscal policy, budget, revenues

This 2015 Article IV Consultation highlights that Namibia's GDP growth slightly moderated to 4.2 percent in 2014, largely owing to lower global demand for Namibia's main export commodities. Inflation remained conta...

Capital Controls or Macroprudential Regulation?

Capital Controls or Macroprudential Regulation? »

Volume/Issue: 2015/218

Series: IMF Working Papers

Author(s): Anton Korinek , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

DOI: http://dx.doi.org/10.5089/9781513506463.001

ISBN: 9781513506463

Keywords: pecuniary externalities, macroprudential regulation, inequality, exchange rate, exchange, lenders, borrowers, markets, International Lending and Debt Problems, Open Economy Macroeconomics

International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital...

International Monetary Fund Annual Report 2015
			: Tackling Challenges Together

International Monetary Fund Annual Report 2015 : Tackling Challenges Together »

Series: Annual Report of the Executive Board

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

DOI: http://dx.doi.org/10.5089/9781475544886.011

ISBN: 9781475544886

Keywords: debt, imf, tax, interest, investment

The past year has been a time of unexpected challenges for the international community. Amid the continued focus on spurring stronger and more inclusive growth and strengthening global cooperation, the IMF faced ec...

Australia
			: Selected Issues

Australia : Selected Issues »

Volume/Issue: 2015/275

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2015

DOI: http://dx.doi.org/10.5089/9781513556499.002

ISBN: 9781513556499

Keywords: prices, income, interest, supply, debt

This Selected Issues paper analyzes the housing prices in Australia. Housing prices in Australia have increased strongly over the past two decades, including by comparison internationally. Thus housing prices are o...

Stress Testing Corporate Balance Sheets in Emerging Economies

Stress Testing Corporate Balance Sheets in Emerging Economies »

Volume/Issue: 2015/216

Series: IMF Working Papers

Author(s): Julian Chow

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2015

DOI: http://dx.doi.org/10.5089/9781513502717.001

ISBN: 9781513502717

Keywords: Emerging market corporate debt, leverage, debt at risk, debt, corporate debt, emerging market, market, markets, General, All Countries,

In recent years, firms in emerging market countries have increased borrowing, particularly in foreign currency, owing to easy access to global capital markets, prolonged low interest rates and good investment oppor...

The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries

The Impact of Global Liquidity on Financial Landscapes and Risks in the ASEAN-5 Countries »

Volume/Issue: 2015/211

Series: IMF Working Papers

Author(s): Tao Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2015

DOI: http://dx.doi.org/10.5089/9781513543734.001

ISBN: 9781513543734

Keywords: financial landscape, liquidity, debt, security, international debt security, International Lending and Debt Problems, financial stability.,

This paper analyzes the transmission of global liquidity to the ASEAN-5 countries (ASEAN-5), including the impact on financial landscapes and risks to financial stability. It finds that global liquidity transmissio...

Jamaica
			: Ninth Review Under the Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

Jamaica : Ninth Review Under the Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica »

Volume/Issue: 2015/270

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2015

DOI: http://dx.doi.org/10.5089/9781513518367.002

ISBN: 9781513518367

Keywords: bond, inflation, debt, monetary fund, oil prices

This paper discusses Jamaica's Ninth Review Under the Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria (PC). Macroeconomic indicators are improving, but growth remai...

Managing the Fed's Liftoff and Transmission of Monetary Policy

Managing the Fed's Liftoff and Transmission of Monetary Policy »

Volume/Issue: 2015/202

Series: IMF Working Papers

Author(s): Manmohan Singh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 September 2015

DOI: http://dx.doi.org/10.5089/9781513523811.001

ISBN: 9781513523811

Keywords: reverse repo program (RRP), Fed Funds Rate (FF), General Collateral (GC) rate, repo, collateral, reserves, basis points, reserve, Government Policy and Regulation, Government Policy and Regulation

In recent years, many money and repo rates in the United States have been between zero and 25 basis points. As Fed's liftoff approaches, the question of the level of these rates (and the markets that determine them...

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

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

Volume/Issue: 2015/261

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2015

DOI: http://dx.doi.org/10.5089/9781513536057.002

ISBN: 9781513536057

Keywords: inflation, investment, market, debt, exchange

This 2015 Article IV Consultation highlights that Israel's economy has been doing well and near-term growth prospects are favorable. Following growth of 2.6 percent in 2014, the economy is expected to expand by abo...

International Monetary Fund Annual Report 2015
			: Tackling Challenges Together

International Monetary Fund Annual Report 2015 : Tackling Challenges Together »

Series: Annual Report of the Executive Board

Author(s): International Monetary Fund. Secretary's Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2015

Language: German

DOI: http://dx.doi.org/10.5089/9781513586571.011

ISBN: 9781513586571

Keywords: debt, imf, tax, interest, investment

The past year has been a time of unexpected challenges for the international community, International Monetary Fund (IMF) Managing Director Christine Lagarde says in her foreword to the institution's Annual Report...

Saudi Arabia
			: 2015 Article IV Consultation - Press Release; Staff Report; and Informational Annexl

Saudi Arabia : 2015 Article IV Consultation - Press Release; Staff Report; and Informational Annexl »

Volume/Issue: 2015/251

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 September 2015

DOI: http://dx.doi.org/10.5089/9781513551111.002

ISBN: 9781513551111

Keywords: market, monetary fund, labor market, oil price

This 2015 Article IV Consultation highlights that the rising oil prices and production resulted in large external and fiscal surpluses for Saudi Arabia. Real GDP growth is projected to slow to 2.8 percent in 2015,...

South Africa
			: Technical Assistance Report-Fiscal Regimes for Mining and Petroleum: Opportunities and Challenges

South Africa : Technical Assistance Report-Fiscal Regimes for Mining and Petroleum: Opportunities and Challenges »

Volume/Issue: 2015/244

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2015

DOI: http://dx.doi.org/10.5089/9781513514802.002

ISBN: 9781513514802

Keywords: Mining sector, Oil, Natural gas, Fiscal policy, Taxation, Income taxes, Corporate taxes, Tax rates, Technical Assistance Reports, South Africa

This Technical Assistance report reviews South Africa's tax system and also examines the fiscal regime with a view to generating a sustainable revenue contribution from mining and petroleum in future. Mining has hi...

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

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

Volume/Issue: 2015/246

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 2015

DOI: http://dx.doi.org/10.5089/9781513591728.002

ISBN: 9781513591728

Keywords: investment, market, inflation, monetary fund, debt

This 2015 Article IV Consultation highlights that the Philippine economy continues to expand strongly in line with potential growth. Real GDP grew by 6.1 percent in 2014, driven by household consumption, private co...

Philippines
			: Selected Issues

Philippines : Selected Issues »

Volume/Issue: 2015/247

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 2015

DOI: http://dx.doi.org/10.5089/9781513586243.002

ISBN: 9781513586243

Keywords: investment, bond, interest

This Selected Issues paper examines the interaction between real and financial cycles in the Philippines and their relationship to the global financial cycle. It finds that the surge in capital inflows between 2010...

A New Look at the Determinants of Growth in Asian Countries

A New Look at the Determinants of Growth in Asian Countries »

Volume/Issue: 2015/195

Series: IMF Working Papers

Author(s): Manuk Ghazanchyan , Janet Stotsky , and Qianqian Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 September 2015

DOI: http://dx.doi.org/10.5089/9781513524535.001

ISBN: 9781513524535

Keywords: growth, exchange rate, exchange rate regime, economies, currency, General, Open Economy Macroeconomics, Economic Growth of Open Economies, General, Asia including Middle East,

This study examines the drivers of growth in Asian countries, with focus on the role of investment, the exchange rate regime, financial risk, and capital account openness. We use a panel data set of a sample of Asi...

Normalization of Global Financial Conditions
			: The Implications for Brazil

Normalization of Global Financial Conditions : The Implications for Brazil »

Volume/Issue: 2015/194

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 September 2015

DOI: http://dx.doi.org/10.5089/9781513588117.001

ISBN: 9781513588117

Keywords: Economic news, Vector-autoregression, bond, interest, bond yield, basis points, exchange rate, General,

Global financial conditions are poised to tighten further as the global recovery proceeds. While monetary policy normalization should be a healthy global development as growth continues to recover in advanced econo...

Panama
			: Staff Report for the 2015 Article IV Consultation

Panama : Staff Report for the 2015 Article IV Consultation »

Volume/Issue: 2015/237

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 August 2015

DOI: http://dx.doi.org/10.5089/9781513505718.002

ISBN: 9781513505718

Keywords: investment, oil prices, monetary fund, inflation, debt

This 2015 Article IV Consultation highlights that Panama's economic performance is expected to remain strong. Real GDP slowed to 6.2 percent in 2014, reflecting a slower pace of public investment, continued weaknes...

People's Republic of China
			: Staff Report for the 2015 Article IV Consultation

People's Republic of China : Staff Report for the 2015 Article IV Consultation »

Volume/Issue: 2015/234

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2015

DOI: http://dx.doi.org/10.5089/9781513512907.002

ISBN: 9781513512907

Keywords: inflation, market, monetary fund, financial crisis, interest rates

This 2015 Article IV Consultation highlights that China is transitioning to a new normal, with slower-yet-safer, more sustainable growth. Growth in 2014 fell to 7.4 percent and, in 2015, is forecast to slow further...

Chile
			: Selected Issues

Chile : Selected Issues »

Volume/Issue: 2015/228

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 August 2015

DOI: http://dx.doi.org/10.5089/9781513559858.002

ISBN: 9781513559858

Keywords: prices, price, copper prices, commodity price

This Selected Issues paper examines the effect of lower copper prices on Chile's growth at various time horizons. This paper discusses the copper outlook and suggests that the fall in copper prices is likely to hav...

Samoa
			: Financial Sector Assessment Program - Banking Resolution, and Crisis Prevention and Management Frameworks-Technical Note

Samoa : Financial Sector Assessment Program - Banking Resolution, and Crisis Prevention and Management Frameworks-Technical Note »

Volume/Issue: 2015/229

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 August 2015

DOI: http://dx.doi.org/10.5089/9781513528649.002

ISBN: 9781513528649

Keywords: deposit, insurance

This Technical Note discusses key findings of the assessment of Banking Resolution, and Crisis Prevention and Management Frameworks for Samoa. It is recommended that the current regulatory framework to deal with fi...

Integrated Ownership and Control in the GCC Corporate Sector

Integrated Ownership and Control in the GCC Corporate Sector »

Volume/Issue: 2015/184

Series: IMF Working Papers

Author(s): Andre Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2015

DOI: http://dx.doi.org/10.5089/9781513589459.001

ISBN: 9781513589459

Keywords: GCC countries, network analysis, integreated ownership, concentration, shareholders, shares, debt, stock, shareholder, Government Policy and Regulation,

The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in Bloomberg and G...

Portfolio Rebalancing in Japan
			: Constraints and Implications for Quantitative Easing

Portfolio Rebalancing in Japan : Constraints and Implications for Quantitative Easing »

Volume/Issue: 2015/186

Series: IMF Working Papers

Author(s): Serkan Arslanalp , and Dennis Botman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2015

DOI: http://dx.doi.org/10.5089/9781513557595.001

ISBN: 9781513557595

Keywords: quantitative easing, portfolio rebalancing, speed limits, portfolio, market, inflation, markets, General, Portfolio Choice, speed limits.,

Portfolio rebalancing is a key transmission channel of quantitative easing in Japan. We construct a realistic rebalancing scenario, which suggests that the BoJ may need to taper its JGB purchases in 2017 or 2018, g...

Singapore
			: Staff Report for 2015 Article IV Consultation

Singapore : Staff Report for 2015 Article IV Consultation »

Volume/Issue: 2015/199

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Asia and Pacific Dept

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2015

DOI: http://dx.doi.org/10.5089/9781513543468.002

ISBN: 9781513543468

Keywords: monetary fund, exchange, inflation, economic developments

Outlook and risks. As Singapore prepares to celebrate its 50th anniversary in August, its economy continues to perform well. Despite the slow pace of the global recovery and a gradual decline in domestic credit gro...

Systemic Risk, Aggregate Demand, and Commodity Prices

Systemic Risk, Aggregate Demand, and Commodity Prices »

Volume/Issue: 2015/165

Series: IMF Working Papers

Author(s): Javier Gómez?Pineda , Dominique Guillaume , and Kadir Tanyeri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2015

DOI: http://dx.doi.org/10.5089/9781513552545.001

ISBN: 9781513552545

Keywords: Financial linkages, Global imbalances Commodity prices, output, country risk, trade, Open Economy Macroeconomics, Forecasting and Simulation,

The paper presents a global model with systemic and country risks, as well as commodity prices.We show that systemic risk shocks have an important impact on world economic activity, with the busts in world output g...

Lebanon
			: Staff Report for the 2015 Article IV Consultation

Lebanon : Staff Report for the 2015 Article IV Consultation »

Volume/Issue: 2015/190

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2015

DOI: http://dx.doi.org/10.5089/9781513567563.002

ISBN: 9781513567563

Keywords: debt, public debt, oil prices, monetary fund, inflation

The Syrian crisis and the associated inflow of refugees continue to dominate Lebanon's short-term outlook, compounding long-standing policy weaknesses and vulnerabilities. Political paralysis has set in, with virtu...

Drivers of Financial Integration - Implications for Asia

Drivers of Financial Integration - Implications for Asia »

Volume/Issue: 2015/160

Series: IMF Working Papers

Author(s): Nasha Ananchotikul , Shi Piao , and Edda Zoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2015

DOI: http://dx.doi.org/10.5089/9781513554815.001

ISBN: 9781513554815

Keywords: regulation, portfolio, investment, portfolio investment, market, bond, Financial Aspects of Economic Integration, General, regulation.,

Deeper intraregional financial integration is prominent on Asian policymakers' agenda. This paper takes stock of Asia's progress toward that objective, analyzing recent trends in cross-border portfolio investment a...

Joining the Club? Procyclicality of Private Capital Inflows in Low Income Developing Countries

Joining the Club? Procyclicality of Private Capital Inflows in Low Income Developing Countries »

Volume/Issue: 2015/163

Series: IMF Working Papers

Author(s): Juliana Araujo , Antonio David , Carlos van Hombeeck , and Chris Papageorgiou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2015

DOI: http://dx.doi.org/10.5089/9781513508146.001

ISBN: 9781513508146

Keywords: Cyclicality, Emerging Markets, capital inflows, private capital, international capital, developing countries, Open Economy Macroeconomics, Macroeconomic Analyses of Economic Development, Emerging Markets.,

Using a newly developed dataset this paper examines the cyclicality of private capital inflows to low-income developing countries (LIDCs) over the period 1990-2012. The empirical analysis shows that capital inflows...

Germany
			: Selected Issues

Germany : Selected Issues »

Volume/Issue: 2015/188

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2015

DOI: http://dx.doi.org/10.5089/9781513572307.002

ISBN: 9781513572307

Keywords: surplus, surpluses, current account surpluses, output, trade

This Selected Issues paper identifies episodes of large and sustained current account surpluses in advanced economies (AEs) and compares Germany's ongoing surplus with those episodes. In doing so, the paper aims to...

Republic of Poland
			: Staff Report for the 2015 Article IV Consultation

Republic of Poland : Staff Report for the 2015 Article IV Consultation »

Volume/Issue: 2015/182

Series: IMF Staff Country Reports

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 July 2015

DOI: http://dx.doi.org/10.5089/9781513502434.002

ISBN: 9781513502434

Keywords: inflation, monetary fund, monetary policy, market, credit growth

This 2015 Article IV Consultation highlights that the economy of Poland has recovered from the 2012-13 slowdown. Growth accelerated to 3.4 percent in 2014, and further to 3.6 percent in the first quarter of 2015, o...