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Los regímenes de tipo de cambio y la estabilidad del sistema monetario internacional

Los regímenes de tipo de cambio y la estabilidad del sistema monetario internacional »

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498324076.084

ISBN: 9781498324076

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, tipo de cambio, régimen de tipo de cambio, tipos de cambio, tipo de cambio real

Los países miembros del Fondo Monetario Internacional colaboran para asegurar que los regímenes cambiarios funcionen ordenadamente y para fomentar la estabilidad del sistema cambiario, reconociendo que el objetivo...

Fiscal Implications of the Global Economic and Financial Crisis

Fiscal Implications of the Global Economic and Financial Crisis »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2009

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

ISBN: 9781589068506

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

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

Exchange Rate Assessments
			: CGER Methodologies

Exchange Rate Assessments : CGER Methodologies »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2009

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504950093.084

ISBN: 9787504950093

Keywords: Exchange rates, Exchange rate assessments, current account, exchange rate, current account balance, real exchange rate, foreign assets, net foreign assets, real exchange rates, current account balances

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

Developing Essential Financial Markets in Smaller Economies
			: Stylized Facts and Policy Options

Developing Essential Financial Markets in Smaller Economies : Stylized Facts and Policy Options »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 December 2008

DOI: http://dx.doi.org/10.5089/9781589067752.084

ISBN: 9781589067752

Keywords: Banking systems, Central bank policy, Financial sector, Small states, Stock markets, foreign exchange, exchange rate, foreign exchange market, equity markets, stock exchange

This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, m...

Macroeconomic Implications of Financial Dollarization
			: The Case of Uruguay

Macroeconomic Implications of Financial Dollarization : The Case of Uruguay »

Series: Occasional Papers

Author(s): R. Gelos , Alejandro Lopez Mejia , and Marco Piñón-Farah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 July 2008

DOI: http://dx.doi.org/10.5089/9781589067271.084

ISBN: 9781589067271

Keywords: Dollarization, Banking sector, Exchange rate regimes, External sector, Fiscal sustainability, Fiscal reforms, inflation, monetary policy, central bank, foreign currency

Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in...

IMF Support and Crisis Prevention

IMF Support and Crisis Prevention »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2008

DOI: http://dx.doi.org/10.5089/9781589067097.084

ISBN: 9781589067097

Keywords: Balance of payments assistance, Emerging markets, Foreign exchange reserves, Fund role, Multilateral surveillance, capital account, crisis prevention, capital account crises, capital account crisis, current account

This paper examines the various roles of IMF financing in crisis prevention. Emerging market economies that experienced financial crises in the past have been subject to enormous economic and social costs, highligh...

Northern Star
			: Canada's Path to Economic Prosperity

Northern Star : Canada's Path to Economic Prosperity »

Series: Occasional Papers

Author(s): Vladimir Klyuev , Martin Mühleisen , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 October 2007

DOI: http://dx.doi.org/10.5089/9781589066144.084

ISBN: 9781589066144

Keywords: Economic growth, Energy, Banking, Inflation targeting, pension, inflation, retirement, monetary policy, ld

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic poli...

América Central
			: Crecimiento económico e integración

América Central : Crecimiento económico e integración »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2007

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589066601.084

ISBN: 9781589066601

¿Cómo consolidar los avances logrados con tanto esfuerzo, acrecentar la capacidad de resistencia a los shocks y alcanzar un mayor crecimiento económico a fin de reducir la pobreza? Estos son los desafíos que se le...

The Design and Implementation of Deposit Insurance Systems

The Design and Implementation of Deposit Insurance Systems »

Series: Occasional Papers

Author(s): David Hoelscher , Michael Taylor , and Ulrich Klueh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2006

DOI: http://dx.doi.org/10.5089/9781589065031.084

ISBN: 9781589065031

Keywords: Deposit insurance, insurance system, banking, insurance systems, deposit insurance systems

This paper describes recently established deposit insurance systems, identifying emerging trends. In line with previous IMF work on the subject, it argues against the development of "best practices" applicable to a...

Official Foreign Exchange Intervention

Official Foreign Exchange Intervention »

Series: Occasional Papers

Author(s): Jorge Canales Kriljenko , Cem Karacadag , Roberto Guimarães , and Shogo Ishii

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2006

DOI: http://dx.doi.org/10.5089/9781589064218.084

ISBN: 9781589064218

Keywords: foreign exchange, exchange rate, foreign exchange market, central bank, exchange rate volatility

Despite increasing exchange rate flexibility, central banks in emerging markets still intervene in their foreign exchange markets for several reasons. In doing so, they face many operational questions, including on...

Debt-Related Vulnerabilities and Financial Crises

Debt-Related Vulnerabilities and Financial Crises »

Series: Occasional Papers

Author(s): Brad Setser , Ioannis Halikias , Alexander Pitt , Christoph Rosenberg , Brett House , Jens Nystedt , and Christian Keller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 October 2005

DOI: http://dx.doi.org/10.5089/9781589064256.084

ISBN: 9781589064256

Keywords: banking, banking system, external debt, public debt, central bank

The analysis of currency and maturity mismatches in sectoral balance sheets has increasingly become a regular element in the IMF's tool kit for surveillance in emerging market countries. This paper describes this s...

Turkey at the Crossroads
			: From Crisis Resolution to EU Accession

Turkey at the Crossroads : From Crisis Resolution to EU Accession »

Series: Occasional Papers

Author(s): Donal McGettigan , Xavier Debrun , Mark Griffiths , Reza Moghadam , Ernesto Ramirez Rigo , Martin Schindler , Mats Josefsson , Cheng Lim , Christian Keller , Christoph Klingen , Chris Lane , Oya Celasun , Ashoka Mody , Dewitt Marston , and Mathew Verghis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 September 2005

DOI: http://dx.doi.org/10.5089/9781589063860.084

ISBN: 9781589063860

Keywords: Financial sector, Economic growth, Labor markets, foreign currency, inflation, banking, public debt, external debt

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation's 2000-01 economic crisis. Higher growth could reduce unemployment and raise living stand...

América Central
			: Integración mundial y cooperación regional

América Central : Integración mundial y cooperación regional »

Series: Occasional Papers

Author(s): Alfred Schipke , and Markus Rodlauer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2005

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589064799.084

ISBN: 9781589064799

América Central ha concitado creciente atención como una región que se está integrando exitosamente a la economía mundial. Este estudio examina -entre otras cosas- las implicaciones macroeconómicas y fiscales del A...

Estabilización y reforma en América Latina
			: Perspectiva macroeconómica desde principios de los años noventa

Estabilización y reforma en América Latina : Perspectiva macroeconómica desde principios de los años noventa »

Series: Occasional Papers

Author(s): Agnes Belaisch , Charles Collyns , Paula De Masi , Guy Meredith , Anoop Singh , Reva Krieger , and Robert Rennhack

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 May 2005

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589064331.084

ISBN: 9781589064331

Este estudio examina las influencias externas e internas sobre el desempeño económico de América Latina durante los últimos 15 años. Se destaca que en los últimos años se han fortalecido las políticas macroeconómic...

Adopting the Euro in Central Europe
			: Challenges of the Next Step in European Integration

Adopting the Euro in Central Europe : Challenges of the Next Step in European Integration »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 April 2005

DOI: http://dx.doi.org/10.5089/9781589063501.084

ISBN: 9781589063501

Keywords: Euro, exchange rate, inflation, monetary policy, exchange rates, foreign exchange

Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to rep...

Lessons from the Crisis in Argentina

Lessons from the Crisis in Argentina »

Series: Occasional Papers

Author(s): Christina Daseking , Atish Ghosh , Timothy Lane , and Alun Thomas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 February 2005

DOI: http://dx.doi.org/10.5089/9781589063594.084

ISBN: 9781589063594

Keywords: exchange rate, currency board, central bank, debt dynamics, public debt

In 2001- 02, Argentina experienced one of the worst economic crises in its history. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and econom...

Stabilization and Reform in Latin America
			: A Macroeconomic Perspective of the Experience Since the 1990s

Stabilization and Reform in Latin America : A Macroeconomic Perspective of the Experience Since the 1990s »

Series: Occasional Papers

Author(s): Agnes Belaisch , Charles Collyns , Paula De Masi , Guy Meredith , Anoop Singh , Reva Krieger , and Robert Rennhack

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 February 2005

DOI: http://dx.doi.org/10.5089/9781589062504.084

ISBN: 9781589062504

Keywords: Economic reforms, Economic recovery, Latin America, exchange rate, inflation, banking, exchange rate regimes, dollarization

This study examines external and domestic influences on Latin America's economic performance over the past decade and a half. It notes that over the past few years, macroeconomic policies have strengthened and stru...

Managing Systemic Banking Crises

Managing Systemic Banking Crises »

Series: Occasional Papers

Author(s): Marc Quintyn , and David Hoelscher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 December 2004

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504935410.084

ISBN: 9787504935410

Keywords: banking crises, recapitalization, debt restructuring, deposit insurance, banking system, banking crisis, asset management, bank restructuring, asset management company, bank runs

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

Chile
			: Institutions and Policies Underpinning Stability and Growth

Chile : Institutions and Policies Underpinning Stability and Growth »

Series: Occasional Papers

Author(s): Eliot Kalter , Steven Phillips , Manmohan Singh , Mauricio Villafuerte , Rodolfo Luzio , and Marco Espinosa-Vega

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2004

DOI: http://dx.doi.org/10.5089/9781589063259.084

ISBN: 9781589063259

Keywords: Economic growth, central bank, inflation, capital markets, banking, external debt

This paper presents the primary institutions and economic policies that have led to Chile's remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of...

Germany's Three-Pillar Banking System
			: Cross-Country Perspectives in Europe

Germany's Three-Pillar Banking System : Cross-Country Perspectives in Europe »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2004

DOI: http://dx.doi.org/10.5089/9781589063488.084

ISBN: 9781589063488

Keywords: Banking systems, banking, savings banks, commercial banks, banking system, savings bank

German banks tend to be less profitable than their foreign counterparts. This paper estimates the likely effect of the phaseout of state guarantees for public sector banks, reviews the various ways in which public...

China's Growth and Integration into the World Economy
			: Prospects and Challenges

China's Growth and Integration into the World Economy : Prospects and Challenges »

Series: Occasional Papers

Author(s): Eswar Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 June 2004

DOI: http://dx.doi.org/10.5089/9781589062580.084

ISBN: 9781589062580

Keywords: Economic growth, Development, Trade, exchange rate, inflation, real exchange rate, employment, unemployment

China's transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an o...

Financial Stability in Dollarized Economies

Financial Stability in Dollarized Economies »

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

DOI: http://dx.doi.org/10.5089/9781589062962.084

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The stud...

Effects on Financial Globalization on Developing Countries
			: Some Empirical Evidence

Effects on Financial Globalization on Developing Countries : Some Empirical Evidence »

Series: Occasional Papers

Author(s): Kenneth Rogoff , Eswar Prasad , Ayhan Kose , and Shang-Jin Wei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2004

Language: Chinese

DOI: http://dx.doi.org/10.5089/9787504933096.084

ISBN: 9787504933096

Keywords: capital flows, financial integration, globalization, capital inflows, financial globalization, capital account liberalization, international financial, capital markets, international financial integration, international capital flows

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an appare...

Hong Kong SAR
			: Meeting the Challenges of Integration with the Mainland

Hong Kong SAR : Meeting the Challenges of Integration with the Mainland »

Series: Occasional Papers

Author(s): William Lee , Jorge Chan-Lau , Dora Iakova , Papa N'Diaye , Tao Wang , Ida Liu , Hong Liang , and Eswar Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2004

DOI: http://dx.doi.org/10.5089/9781589062948.084

ISBN: 9781589062948

Keywords: Economic conditions, Hong Kong SAR, prices, wage, expenditure, wages, government expenditure

This Occasional Paper provides an overview of the main challenges facing Hong Kong SAR as it continues to become more closely integrated with the mainland of China. Section I provides an overview of recent macroeco...

Capital Markets and Financial Intermediation in The Baltics

Capital Markets and Financial Intermediation in The Baltics »

Series: Occasional Papers

Author(s): Niamh Sheridan , Alfred Schipke , Susan George , and Christian Beddies

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 January 2004

DOI: http://dx.doi.org/10.5089/9781589062726.084

ISBN: 9781589062726

Keywords: Financial systems, Banking, capital markets, financial system, bond, capital market

In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the Europea...

Economic Policy in a Highly Dollarized Economy
			: The Case of Cambodia

Economic Policy in a Highly Dollarized Economy : The Case of Cambodia »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 2003

DOI: http://dx.doi.org/10.5089/9781589061897.084

ISBN: 9781589061897

Keywords: Dollarization, national bank, inflation, foreign currency, currency board

This study examines the challenges and issues facing policymakers in highly dollarized economies. Focusing on Cambodia, which achieved almost complete dollarization during 1991-95, the authors review recent develop...

Managing Systemic Banking Crises

Managing Systemic Banking Crises »

Series: Occasional Papers

Author(s): Marc Quintyn , and David Hoelscher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 August 2003

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

ISBN: 9781589062245

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

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

Informal Funds Transfer Systems
			: An Analysis of the Informal Hawala System

Informal Funds Transfer Systems : An Analysis of the Informal Hawala System »

Series: Occasional Papers

Author(s): Mohammed El Qorchi , Samuel Maimbo , and John Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2003

DOI: http://dx.doi.org/10.5089/9781589062269.084

ISBN: 9781589062269

Keywords: Financial systems, banking, remittance, remittances, foreign exchange, banking sector

Since the terrorist attacks of September 11, 2001, there has been increased public interest in informal funds transfer (IFT) systems. This paper examines the informal hawala system, an IFT system found predominantl...

Crisis financieras
			: Experiencia reciente y lecciones para América Latina

Crisis financieras : Experiencia reciente y lecciones para América Latina »

Series: Occasional Papers

Author(s): Charles Collyns , and G. Kincaid

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 2003

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589062092.084

ISBN: 9781589062092

Basándose en la experiencia del FMI en el manejo de crisis financieras en todo el mundo en la última década, este estudio procura extraer enseñanzas que sean pertinentes para las dificultades que enfrentan los país...

Fiscal Vulnerability and Financial Crises in Emerging Market Economies

Fiscal Vulnerability and Financial Crises in Emerging Market Economies »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 May 2003

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

ISBN: 9781589061965

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

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

Managing Financial Crises
			: Recent Experience and Lessons for Latin America

Managing Financial Crises : Recent Experience and Lessons for Latin America »

Series: Occasional Papers

Author(s): G. Kincaid , and Charles Collyns

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 April 2003

DOI: http://dx.doi.org/10.5089/9781589062085.084

ISBN: 9781589062085

Keywords: Latin America, monetary policy, inflation, banking, debt restructuring, central bank

This paper seeks to draw lessons from the IMF's experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially i...

Yemen in the 1990s
			: From Unification to Economic Reform

Yemen in the 1990s : From Unification to Economic Reform »

Series: Occasional Papers

Author(s): Nada Choueiri , Klaus-Stefan Enders , Yuri Sobolev , Jan Walliser , and Sherwyn Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 May 2002

DOI: http://dx.doi.org/10.5089/9781589060425.084

ISBN: 9781589060425

Keywords: foreign exchange, exchange rate, crude oil, oil prices, petroleum products

The 1990s saw the unification of the two Yemens into one nation and a burgeoning of the country's oil sector. This paper examines the structural changes in the Yemeni economy brought about by these and other develo...

Financial Soundness Indicators
			: Analytical Aspects and Country Practices

Financial Soundness Indicators : Analytical Aspects and Country Practices »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 April 2002

DOI: http://dx.doi.org/10.5089/9781589060869.084

ISBN: 9781589060869

Keywords: Economic conditions, financial institutions, financial system, banking, capital adequacy, real estate

The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of co...

The Eastern Caribbean Currency Union
			: Institutions, Performance, and Policy Issues

The Eastern Caribbean Currency Union : Institutions, Performance, and Policy Issues »

Series: Occasional Papers

Author(s): Ruby Randall , Jorge Shepherd , Frits Van Beek , J. Rosales , and Mayra Zermeno

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 August 2000

DOI: http://dx.doi.org/10.5089/9781557758941.084

ISBN: 9781557758941

Keywords: loans, interest, treasury bills, banking, liabilities

The Eastern Caribbean Central Bank is one of just a few regional central banks in the world and the only one where the member countries have pooled all their foreign reserves, the convertability of the common curre...

Capital Controls
			: Country Experiences with Their Use and Liberalization

Capital Controls : Country Experiences with Their Use and Liberalization »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2000

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

ISBN: 9781557758743

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

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

Macroprudential Indicators of Financial System Soundness

Macroprudential Indicators of Financial System Soundness »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2000

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

ISBN: 9781557758910

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

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

Philippines
			: Toward Sustainable and Rapid Growth

Philippines : Toward Sustainable and Rapid Growth »

Series: Occasional Papers

Author(s): Markus Rodlauer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2000

DOI: http://dx.doi.org/10.5089/9781557758613.084

ISBN: 9781557758613

Keywords: banking, central bank, inflation, monetary policy, monetary fund

This Occasional Paper discusses the policies behind the favorable economic performance of the Philippines during the 1990s, when it emerged from a long period of slow growth and economic imbalances and managed to e...

Financial Sector Crisis and Restructuring
			: Lessons from Asia:  Lessons from Asia

Financial Sector Crisis and Restructuring : Lessons from Asia: Lessons from Asia »

Series: Occasional Papers

Author(s): Leslie Teo , Charles Enoch , Carl-Johan Lindgren , Tomás Baliño , Anne Gulde , and Marc Quintyn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2000

DOI: http://dx.doi.org/10.5089/9781557758712.084

ISBN: 9781557758712

Keywords: restructuring, loans, banking, debt, asset management

This paper reviews the policy responses of Indonesia, Korea, and Thailand to the Asian crisis that erupted in 1997 and compares the actions of these three countries with those of Malaysia and the Philippines, which...

Oman Beyond the Oil Horizon
			: Policies Toward Sustainable Growth

Oman Beyond the Oil Horizon : Policies Toward Sustainable Growth »

Series: Occasional Papers

Author(s): Volker Treichel , and Ahsan Mansur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 1999

DOI: http://dx.doi.org/10.5089/9781557758330.084

ISBN: 9781557758330

Keywords: fiscal policy, expenditure, capital expenditure, fiscal adjustment, fiscal impulse

With the steady increase of crude oil production and the surge in oil prices in the mid- and late 1970s, Oman embarked upon an economic development path that transformed it into a prosperous country. Today Oman boa...

Economic Reforms in Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan

Economic Reforms in Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 1999

DOI: http://dx.doi.org/10.5089/9781557758255.084

ISBN: 9781557758255

Keywords: inflation, central bank, monetary fund, banking, monetary policy

This occasional paper provides an overview of the economic reform experiences of the Central Asian states of the former Soviet Union since their independence at the turn of the decade. The choice of countries refle...

Back to the Future
			: Postwar Reconstruction and Stabilization in Lebanon

Back to the Future : Postwar Reconstruction and Stabilization in Lebanon »

Series: Occasional Papers

Author(s): Thomas Helbling , and Sena Eken

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 1999

DOI: http://dx.doi.org/10.5089/9781557757845.084

ISBN: 9781557757845

Keywords: public debt, expenditure, central bank, debt management, capital expenditure

Following the 15-year civil war that started in 1975, Lebanon's government began the difficult task of economic stabilization and confidence building, on the one hand, and postwar reconstruction and development, on...

Monetary Policy in Dollarized Economies

Monetary Policy in Dollarized Economies »

Series: Occasional Papers

Author(s): Adam Bennett , Eduardo Borensztein , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1999

DOI: http://dx.doi.org/10.5089/9781557757579.084

ISBN: 9781557757579

Keywords: central bank, exchange rate, currency substitution, inflation, dollarization

Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many co...

The Baltic Countries
			: From Economic Stabilization to EU Accession

The Baltic Countries : From Economic Stabilization to EU Accession »

Series: Occasional Papers

Author(s): Françoise Le Gall , L. Psalida , Pietro Garibaldi , Julian Berengaut , Jerald Schiff , Kerstin Westin , Augusto López-Claros , Richard Stern , and Dennis Jones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 1998

DOI: http://dx.doi.org/10.5089/9781557757388.084

ISBN: 9781557757388

Keywords: banking, privatization, exchange rate, private sector development, banking system

Are the three Baltic countries, Latvia, Estonia, and Lithuania, ready for accession to the European Union? Have their economies overcome the problems of transition? The answers to these questions and their implicat...

Financial Sector Development in Sub-Saharan African Countries

Financial Sector Development in Sub-Saharan African Countries »

Series: Occasional Papers

Author(s): Jean-Pierre Briffaut , George Iden , Peter Hayward , Tonny Lybek , Hassanali Mehran , Piero Ugolini , and Stephen Swaray

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1998

DOI: http://dx.doi.org/10.5089/9781557757586.084

ISBN: 9781557757586

Keywords: central bank, foreign exchange, banking, monetary policy, payments

This study takes stock of progress made so far in the financial sectors of sub-saharan African countries. It recommends further reforms and specific measures in the areas of supervision, development of monetary ope...

The West African Economic and Monetary Union
			: Recent Developments and Policy Issues

The West African Economic and Monetary Union : Recent Developments and Policy Issues »

Series: Occasional Papers

Author(s): Ernesto Hernández-Catá , and C. François

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 September 1998

DOI: http://dx.doi.org/10.5089/9781557757555.084

ISBN: 9781557757555

Keywords: exchange rate, real exchange rate, external tariff, banking, tradable goods

Following a serious deterioration of the competitive position of the WAEMU region in the 1980s and the eary 1990s, the countries took steps that have led to a significant turnaround in economic activity, a drop in...

Algeria
			: Stabilization and Transition to Market

Algeria : Stabilization and Transition to Market »

Series: Occasional Papers

Author(s): Nicole Laframboise , Patricia Alonso-Gamo , Alain Feler , Stefania Bazzoni , Karim Nashashibi , and Sebastian Paris Horvitz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 August 1998

DOI: http://dx.doi.org/10.5089/9781557756916.084

ISBN: 9781557756916

Keywords: debt, external debt, interest, payments, restructuring

This paper offers Algeria's recent experience with macroeconomic stabilization and systemic transformation from a centrally planned to a market economy. The analyses focuses on the period since 1994 when Algeria em...

Egypt
			: Beyond Stabilization. Toward a Dynamic Market Economy

Egypt : Beyond Stabilization. Toward a Dynamic Market Economy »

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

DOI: http://dx.doi.org/10.5089/9781557757203.084

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Determined macroeconomic policy, combined with favorable external developments, has reduced inflation, improved public finances, led to a stable currency, and helped strengthen the banking system in Egypt. Nonethel...

The Nordic Banking Crisis
			: Pitfalls in Financial Liberalization:  Pitfalls in Financial Liberalization

The Nordic Banking Crisis : Pitfalls in Financial Liberalization: Pitfalls in Financial Liberalization »

Series: Occasional Papers

Author(s): Burkhard Drees , and Ceyla Pazarbasioglu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 1998

DOI: http://dx.doi.org/10.5089/9781557757005.084

ISBN: 9781557757005

Keywords: banking, banking crisis, deposit insurance, bank lending, financial institutions

This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to...

Hungary
			: Economic Policies for Sustainable Growth

Hungary : Economic Policies for Sustainable Growth »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 1998

DOI: http://dx.doi.org/10.5089/9781557757098.084

ISBN: 9781557757098

Keywords: inflation, debt, current account, interest, national bank

Economic developments in Hungary during 1995-97 illustrate one of the most remarkable cases of macroeconomic adjustment in Europe over the last decade. Several momentous steps in the integration of the Hungarian ec...

Central Bank Reforms in the Baltics, Russia, and the Other Countries of the Former Soviet Union

Central Bank Reforms in the Baltics, Russia, and the Other Countries of the Former Soviet Union »

Series: Occasional Papers

Author(s): Malcolm Knight

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 1998

DOI: http://dx.doi.org/10.5089/9781557756985.084

ISBN: 9781557756985

Keywords: central bank, foreign exchange, banking, national bank, interbank market

Since 1991, the 15 countries under review - have to varying degrees, been pursuing reforms whose broad objectives have been to achieve market-based determination of interest rates and exchange rates, manage banking...

Currency Board Arrangements
			: Issues and Experiences

Currency Board Arrangements : Issues and Experiences »

Series: Occasional Papers

Author(s): Charles Enoch , and Tomás Baliño

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 1997

DOI: http://dx.doi.org/10.5089/9781557756688.084

ISBN: 9781557756688

Keywords: exchange rate, central bank, inflation, foreign exchange, reserve requirements

This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations. It asks what defines a currency board arrangement, wha...

Hong Kong, China
			: Growth, Structural Change, and Economic Stability During the Transition

Hong Kong, China : Growth, Structural Change, and Economic Stability During the Transition »

Series: Occasional Papers

Author(s): Dubravko Mihaljek , and John Dodsworth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 1997

DOI: http://dx.doi.org/10.5089/9781557756725.084

ISBN: 9781557756725

Keywords: banking, law, monetary authority, foreign exchange, banking system

This paper provides a detailed account of Hong Kong on the eve of its reintegration into China as a special administrative region. It analyzes recent economic development and provides a clear overview of Hong Kong'...

Nigeria
			: Experience with Structural Adjustment

Nigeria : Experience with Structural Adjustment »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 1997

DOI: http://dx.doi.org/10.5089/9781557756305.084

ISBN: 9781557756305

Keywords: oil exports, agricultural exports, export performance, export prices, export supply

Over the past two decades, Nigeria has not reaped fully the benefits of its national wealth despite its efforts at structural adjustment. This paper concludes that the facts do not justify the negative image that s...

National Bank of Poland
			: The Road to Indirect Instruments

National Bank of Poland : The Road to Indirect Instruments »

Series: Occasional Papers

Author(s): Piero Ugolini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 November 1996

DOI: http://dx.doi.org/10.5089/9781557756022.084

ISBN: 9781557756022

Keywords: national bank, banking, foreign exchange, open market operations, central bank

Poland was the first centrally planned economy in Eastern Europe to leave the Soviet bloc and introduce systemic reforms in all sectors of the economy. The transformation of the National Bank from a monobank to an...

Monetary and Exchange System Reforms in China
			: An Experiment in Gradualism

Monetary and Exchange System Reforms in China : An Experiment in Gradualism »

Series: Occasional Papers

Author(s): Marc Quintyn , Bernard Laurens , Hassanali Mehran , and Tom Nordman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 1996

DOI: http://dx.doi.org/10.5089/9781557755629.084

ISBN: 9781557755629

Keywords: foreign exchange, central bank, monetary policy, bonds, financial sector

In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions,...

The Lao People's Democratic Republic
			: Systemic Transformation and Adjustment

The Lao People's Democratic Republic : Systemic Transformation and Adjustment »

Series: Occasional Papers

Author(s): Ichiro Otani , and Chi Pham

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 May 1996

DOI: http://dx.doi.org/10.5089/9781557755605.084

ISBN: 9781557755605

Keywords: banking, exchange rate, foreign exchange, privatization, foreign investment

Faced with a steadily worsening economy, the government of the Lao Peoples Democratic Republic took its first steps toward reforming its centrally planned economy in December 1979. The reform process gathered momen...

Jordan
			: Strategy for Adjustment and Growth

Jordan : Strategy for Adjustment and Growth »

Series: Occasional Papers

Author(s): Ahsan Mansur , and Edouard Maciejewski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 May 1996

DOI: http://dx.doi.org/10.5089/9781557755582.084

ISBN: 9781557755582

Keywords: debt, interest, central bank, public debt, external debt

The paper analyzes the major progress Jordan has made in recent years in macroeconomic stabilization and the transformation of its economic structure. It discusses recent economic developments, macroeconomic polici...

Uganda
			: Adjustment with Growth, 1987-94

Uganda : Adjustment with Growth, 1987-94 »

Series: Occasional Papers

Author(s): Hema De Zoysa , Robert Sharer , and Calvin McDonald

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1995

DOI: http://dx.doi.org/10.5089/9781557754615.084

ISBN: 9781557754615

Keywords: prices, terms of trade, payments, expenditure, credit

This paper explores not only the recent adjustment efforts but also the prospects for Uganda in the medium term. It provides an overview of recent economic performance with respect to growth, saving, and investment...

Capital Flows in the APEC Region

Capital Flows in the APEC Region »

Series: Occasional Papers

Author(s): Carmen Reinhart , and Mohsin Khan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 1995

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

ISBN: 9781557754660

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

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

Financial Fragilities in Latin America
			: The 1980s and 1990s

Financial Fragilities in Latin America : The 1980s and 1990s »

Series: Occasional Papers

Author(s): Steven Weisbrod , and Liliana Rojas-Suárez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 1995

DOI: http://dx.doi.org/10.5089/9781557755025.084

ISBN: 9781557755025

Keywords: banking, banking system, central bank, foreign exchange, reserve requirements

By reviewing the experiences of Latin American countries with the restructuring of their financial sectors since 1982, this paper derives lessons regarding the most effective ways to deal with banking difficulties...

Road Maps of the Transition
			: The Baltics, the Czech Republic, Hungary, and Russia

Road Maps of the Transition : The Baltics, the Czech Republic, Hungary, and Russia »

Series: Occasional Papers

Author(s): Michael Marrese , Mark Lutz , Tapio Saavalainen , Vincent Koen , Biswajit Banerjee , and Thomas Krueger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 1995

DOI: http://dx.doi.org/10.5089/9781557755193.084

ISBN: 9781557755193

Keywords: inflation, exchange rate, monetary policy, monetary fund, capital inflows

Four papers analyze the process of transition to a market economy in the Baltics, the Czech Republic, Hungary, and Russia through early 1995....

The Adoption of Indirect Instruments of Monetary Policy

The Adoption of Indirect Instruments of Monetary Policy »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 1995

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

ISBN: 9781557754899

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

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

Economic Reform in China
			: A New Phase

Economic Reform in China : A New Phase »

Series: Occasional Papers

Author(s): David Burton , Wanda Tseng , Kalpana Kochhar , Hoe Khor , and Dubravko Mihaljek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1994

DOI: http://dx.doi.org/10.5089/9781557754219.084

ISBN: 9781557754219

Keywords: foreign exchange, inflation, monetary policy, banking, tax administration

China's economic performance hs been remarkable since the the reform process began 15 years ago. Notwithstanding the achievements that have been made, a number of serious problems remain. This papers discusses the...

Poland
			: The Path to a Market Economy

Poland : The Path to a Market Economy »

Series: Occasional Papers

Author(s): Charalambos Christofides , Paul Mylonas , Inci Ötker , Liam Ebrill , Gerd Schwartz , and Ajai Chopra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1994

DOI: http://dx.doi.org/10.5089/9781557754110.084

ISBN: 9781557754110

Keywords: interest, exchange rate, debt, payments, inflation

Poland's economy rebounded dramatically in 1992-93, several years after the nation embarded on a comprehensive program of economic transformation. This paper describes Polan's steps in the areas of public finance,...

Limiting Central Bank Credit to the Government
			: Theory and Practice

Limiting Central Bank Credit to the Government : Theory and Practice »

Series: Occasional Papers

Author(s): Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1993

DOI: http://dx.doi.org/10.5089/9781557753588.084

ISBN: 9781557753588

Keywords: central bank, current account, monetary policy, inflation, central banks

This paper examines central bank independence with reference to the constraints on central bank credit to the government, focusing on how such credit should be regulated. It discusses why credit should be contsrain...

Recent Experiences with Surges in Capital Inflows

Recent Experiences with Surges in Capital Inflows »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1993

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

ISBN: 9781557753502

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

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

China at the Threshold of a Market Economy

China at the Threshold of a Market Economy »

Series: Occasional Papers

Author(s): Michael Bell , Kalpana Kochhar , and Hoe Khor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 June 1993

DOI: http://dx.doi.org/10.5089/9781557753496.084

ISBN: 9781557753496

Keywords: foreign trade, foreign investment, regulatory framework, foreign exchange, economic zones

This paper reviews China's experience with market-oriented reform since 1978, including domestic reforms, the opening of the economy to foreign trade and investment, and the decentralization of decision making. It...

The Structure and Operation of the World Gold Market

The Structure and Operation of the World Gold Market »

Series: Occasional Papers

Author(s): M. O'Callaghan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1993

DOI: http://dx.doi.org/10.5089/9781557752819.084

ISBN: 9781557752819

Keywords: gold, hoarding, futures contracts, gold futures, gold markets

This paper describes the structure of the world gold market, its sources of supply and demand, and how it functions. The paper examines the composition and origin of physical stocks of gold, their flows, and their...

Financial Sector Reforms and Exchange Arrangements in Eastern Europe

Financial Sector Reforms and Exchange Arrangements in Eastern Europe »

Series: Occasional Papers

Author(s): Guillermo Calvo , Eduardo Borensztein , Paul Masson , and Manmohan Kumar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 February 1993

DOI: http://dx.doi.org/10.5089/9781557752796.084

ISBN: 9781557752796

Keywords: exchange rate, foreign exchange, banking, equity markets, banking system

The two papers draw from the brief yet radical reform experiences of five countries-Bulgaria, former Czechoslovakia, Hungary, Poland, and Romania. The first paper describes the financial sector reforms untertaken b...

Spain
			: Converging with the European Community

Spain : Converging with the European Community »

Series: Occasional Papers

Author(s): Gonzalo Pastor , Thierry Pujol , and Michel Galy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 1993

DOI: http://dx.doi.org/10.5089/9781557753199.084

ISBN: 9781557753199

Keywords: regional governments, inflation, banking, central bank, taxation

Spain's participation in European integration has strengthened its policymaking credibility and created an enviroment conducive to sustainable economic growth. Over the last decade, Spain has seen improvements in i...

The Gambia
			: Economic Adjustment in a Small Open Economy

The Gambia : Economic Adjustment in a Small Open Economy »

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

DOI: http://dx.doi.org/10.5089/9781557752307.084

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

The Gambia, one of the least developed countries in Africa, has been pursuing corrective economic policies since 1985, aimed at restroing financial stability and laying the basis for strong and sustainable economic...

Albania
			: From Isolation Toward Reform

Albania : From Isolation Toward Reform »

Series: Occasional Papers

Author(s): R. Johnston , Piroska Nagy , Roy Pepper , Mauro Mecagni , Ratna Sahay , Mario Bléjer , and Richard Hides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

DOI: http://dx.doi.org/10.5089/9781557752666.084

ISBN: 9781557752666

Keywords: state enterprises, social security, state planning commission, foreign exchange, foreign trade

This study reviews Albania's historical and political background, as well as economic developments in 1991. It describes the centrally planned economic system up to the onset of reform and analyzes economic perform...

Stabilization and Structural Reform in the Czech and Slovak Federal Republic
			: First Stage

Stabilization and Structural Reform in the Czech and Slovak Federal Republic : First Stage »

Series: Occasional Papers

Author(s): Bijan Aghevli , Eduardo Borensztein , and Tessa Van der Willigen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1992

DOI: http://dx.doi.org/10.5089/9781557752260.084

ISBN: 9781557752260

Keywords: exchange rate, privatization, balance of payments, foreign exchange, foreign trade

On January 1, 1991, the Czech and Slovak Federal Republic launched a comprehensive reform program designed to establish a market economy. This paper charts the progress of the reform program in the context of Czech...

Mexico
			: The Strategy to Achieve Sustained Economic Growth

Mexico : The Strategy to Achieve Sustained Economic Growth »

Series: Occasional Papers

Author(s): Claudio Loser , and Eliot Kalter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 February 1992

DOI: http://dx.doi.org/10.5089/9781557753120.084

ISBN: 9781557753120

Keywords: inflation, bonds, bond, real interest rates, inflation rate

This paper explores the reasons behind the recent transformation and upturn of the Mexican economy. the changes are the result of the authorities' determination to stick with a difficult reform program since the ea...

The Internationalization of Currencies
			: An Appraisal of the Japanese Yen

The Internationalization of Currencies : An Appraisal of the Japanese Yen »

Series: Occasional Papers

Author(s): Yusuru Ozeki , and George Tavlas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 1992

DOI: http://dx.doi.org/10.5089/9781557751973.084

ISBN: 9781557751973

Keywords: capital outflows, bonds, international currency, financial markets, inflation

A tripolar international monetary system-centered on the U.S. dollar, the deutsche mark, and the yen - appears to be emerging. This paper not only assesses the role of the yen as an international currency but also...

Thailand
			: Adjusting to Success:  Current Policy Issues

Thailand : Adjusting to Success: Current Policy Issues »

Series: Occasional Papers

Author(s): David Robinson , Ranjit Teja , Yangho Byeon , and Wanda Tseng

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1991

DOI: http://dx.doi.org/10.5089/9781557752215.084

ISBN: 9781557752215

Keywords: bank of thailand, foreign direct investment, direct investment, expenditure, financial institutions

Thailand's sucess with economic development in recent decades is due mainly to is commitment to an outward-looking, market-based economy, a development strategy centered on the private sector, and cautious financia...

The Romanian Economic Reform Program

The Romanian Economic Reform Program »

Series: Occasional Papers

Author(s): Mohsin Khan , and Dimitri Demekas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1991

DOI: http://dx.doi.org/10.5089/9781557751904.084

ISBN: 9781557751904

Keywords: banking, foreign trade, foreign exchange, price liberalization, reform program

This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objective...

Determinants and Systemic Consequences of International Capital Flows

Determinants and Systemic Consequences of International Capital Flows »

Series: Occasional Papers

Author(s): D. Folkerts-Landau , Donald Mathieson , Morris Goldstein , Liliana Rojas-Suárez , José Saúl Lizondo , and Timothy Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1991

DOI: http://dx.doi.org/10.5089/9781557752055.084

ISBN: 9781557752055

Keywords: direct investment, foreign direct investment, payments, credit, capital flows

The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have unde...

Ghana
			: Adjustment and Growth, 1983-91

Ghana : Adjustment and Growth, 1983-91 »

Series: Occasional Papers

Author(s): Ishan Kapur , Jerald Schiff , Michael Hadjimichael , Philippe Szymczak , and Paul Hilbers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

DOI: http://dx.doi.org/10.5089/9781557751829.084

ISBN: 9781557751829

Keywords: foreign exchange, exchange rate, inflation, expenditure, banking

The first sub-Saharan African country to pursue broad economic and structural reform - aided by external finance and technical aid - Ghana is an example of adjustment with growth. Ghana's experience, discussed in t...

The Mongolian People's Republic
			: Toward a Market Economy

The Mongolian People's Republic : Toward a Market Economy »

Series: Occasional Papers

Author(s): Padej Sukachevin , John Leimone , F. Rozwadowski , and Elizabeth Milne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1991

DOI: http://dx.doi.org/10.5089/9781557752079.084

ISBN: 9781557752079

Keywords: state bank, foreign exchange, foreign trade, banking, balance of payments

This paper is based on an IMF staff report prepared in connection with the application of the Mongolian People's Republic (Mongolia) for membership in the International Monetary Fund. It reviews Mongolia's politica...

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

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

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1987

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

ISBN: 9780939934898

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

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

Structural Reform, Stabilization, and Growth in Turkey

Structural Reform, Stabilization, and Growth in Turkey »

Series: Occasional Papers

Author(s): George Kopits

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1987

DOI: http://dx.doi.org/10.5089/9780939934843.084

ISBN: 9780939934843

Keywords: inflation, central bank, monetary fund, balance of payments, exchange rate

Following a severe balance of payments crisis in the late 1970s, in January 1980 Turkey embarked on a far reaching stabilization and structural adjustment program....

Islamic Banking

Islamic Banking »

Series: Occasional Papers

Author(s): Abbas Mirakhor , and Zubair Iqbal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 March 1987

DOI: http://dx.doi.org/10.5089/9780939934829.084

ISBN: 9780939934829

Keywords: banking, banking system, islamic banking, law, state bank

This study was prepared by Zubair Iqbal of the Middle Eastern Department and Abbas Mirakhor of the Research Department. To collect information and views for the study, the authors held discussions with the authorit...

Fund-Supported Programs, Fiscal Policy, and Income Distribution

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

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1986

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

ISBN: 9780939934645

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

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

Switzerland's Role as an International Financial Center

Switzerland's Role as an International Financial Center »

Series: Occasional Papers

Author(s): Benedicte Christensen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 1986

DOI: http://dx.doi.org/10.5089/9780939934744.084

ISBN: 9780939934744

Keywords: banking, national bank, bond, oil exporting countries, foreign bond

This paper was prepared by Benedicte Vibe Christensen in the European Department of the International Monetary Fund under the direction of Gyorgy Szapary. It describes developments in international financial transa...

International Capital Markets
			: Developments and Prospects

International Capital Markets : Developments and Prospects »

Series: Occasional Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 1986

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

ISBN: 9780939934591

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

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

Recent Developments in External Debt Restructuring

Recent Developments in External Debt Restructuring »

Series: Occasional Papers

Author(s): G. Kincaid , K. Dillon , Maxwell Watson , and Chanpen Puckahtikom

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 1985

DOI: http://dx.doi.org/10.5089/9780939934522.084

ISBN: 9780939934522

Keywords: official creditors, debt restructuring, debtor countries, bank debt, short-term debt

This paper, following two earlier studies, reviews the arrangements for restructuring commercial bank and official debt up to early 1985....

The West African Monetary Union An Analytical Review

The West African Monetary Union An Analytical Review »

Series: Occasional Papers

Author(s): Rattan Bhatia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 1985

DOI: http://dx.doi.org/10.5089/9781616351083.084

ISBN: 9781616351083

Keywords: West African Monetary Union, rediscount, monetary fund, central bank, money supply, money market

Until 1984, the West African Monetary Union (WAMU) consisted of six West African countries- Benin, Burkina Faso, Ivory Coast, Niger, Senegal, and Togo. (Mali withdrew from the Union in 1961 and rejoined in 1984; it...

International Capital Markets
			: Developments and Prospects, 1984

International Capital Markets : Developments and Prospects, 1984 »

Series: Occasional Papers

Author(s): Maxwell Watson , Peter Keller , and Donald Mathieson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 August 1984

DOI: http://dx.doi.org/10.5089/9781557750730.084

ISBN: 9781557750730

Keywords: bond, bonds, banking, bank lending, bond issues

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

Recent Multilateral Debt Restructurings with Offcial and Bank Creditors

Recent Multilateral Debt Restructurings with Offcial and Bank Creditors »

Series: Occasional Papers

Author(s): Eduard Brau , R. Williams , Peter Keller , and M. Nowak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 1983

DOI: http://dx.doi.org/10.5089/9781557750808.084

ISBN: 9781557750808

Keywords: bank debt, debt restructuring, debt relief, debt renegotiations, debt service

Experience with multilateral debt restructurings with official creditors and with international banks in the second half of the 1970s was described in External Indebtedness of Developing Countries, issued in 1981....

International Capital Markets
			: Developments and Prospects, 1983

International Capital Markets : Developments and Prospects, 1983 »

Series: Occasional Papers

Author(s): John Lipsky , Peter Keller , Donald Mathieson , and Richard Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 1983

DOI: http://dx.doi.org/10.5089/9781557750723.084

ISBN: 9781557750723

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

This paper provides a description and analysis of recent developments in international capital (banking and bond) markets and an assessment of market conditions and prospects for financing flows, in particular...

Aspects of the International Banking Safety Net

Aspects of the International Banking Safety Net »

Series: Occasional Papers

Author(s): G. Johnson , and Richard Abrams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1983

DOI: http://dx.doi.org/10.5089/9781557750587.084

ISBN: 9781557750587

Keywords: banking, deposit insurance, banking system, international banks, national bank

During the 1970s, international lending by banks came to play a dominant role in the flow of international finance. In the early 1980s, banks have continued to play a major role, but the recent evidence of strains...

Hungary
			: An Economic Survey

Hungary : An Economic Survey »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 1982

DOI: http://dx.doi.org/10.5089/9781451963830.084

ISBN: 9781451963830

Keywords: Economic conditions, national bank, foreign trade, foreign exchange, world market, banking

This paper presents an overview of the economy of Hungary. The paper highlights that during the Fifth Five-Year Plan (1976-80), actual growth rates for almost all major plan aggregates remained below the targets. T...

Currency Convertibility in the Economic Community of West African States

Currency Convertibility in the Economic Community of West African States »

Series: Occasional Papers

Author(s): Saleh Nsouli , John McLenaghan , and Klaus-Walter Riechel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 1982

DOI: http://dx.doi.org/10.5089/9781557750594.084

ISBN: 9781557750594

Keywords: monetary union, clearing house, foreign exchange, exchange restrictions, exchange rate

One of the principal aims of the effort to integrate the economies of the 16 member countries of the Economic Community of West African States (ECOWAS) is to expand intra-Community trade. This objective is to be ac...

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

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

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 1981

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

ISBN: 9781557750709

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

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

Economic Stabilization and Growth in Portugal

Economic Stabilization and Growth in Portugal »

Series: Occasional Papers

Author(s): Hans Schmitt

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1981

DOI: http://dx.doi.org/10.5089/9781557750617.084

ISBN: 9781557750617

Keywords: Economic growth, balance of payments, domestic credit, wages, credit expansion, domestic credit expansion

This paper reviews economic stabilization and growth in Portugal during the 1970s. Following a decade of rapid growth with external equilibrium, the Portuguese economy in the early 1970s suffered a series of major...

International Capital Markets
			: Recent Developments and Short-Term Prospects

International Capital Markets : Recent Developments and Short-Term Prospects »

Series: Occasional Papers

Author(s): R. Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1980

DOI: http://dx.doi.org/10.5089/9781451981681.084

ISBN: 9781451981681

Keywords: international capital markets, international capital, bond, capital markets, international bond markets

This publication begins a new series, Occassional papers, designed to fill a gap in the range of publications of the IMF. Occasional Papers will not be on a particular theme but will contain studies on a variety of...