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Economic Governance Reforms to Support Inclusive Growth in the Middle East, North Africa, and Central Asia »

Volume/Issue: 2021/001

Series: Departmental Papers

Author(s): Christopher Jarvis , Gaelle Pierre , Benedicte Baduel , Dominique Fayad , Alexander de Keyserling , Babacar Sarr , and Mariusz Sumlinski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 January 2021

DOI: http://dx.doi.org/10.5089/9781513520759.087

ISBN: 9781513520759

Keywords: Institutional governance, Corruption, Inclusive growth, Middle East and Central Asia, Fiscal governance, Anti-money laundering and combating the financing of terrorism (AML/CFT), Fiscal transparency, Revenue administration transparency and accountability, Good Governance;EconomicGovernance;Corruption;Inclusive Growth

This IMF Departmental Paper presents the key areas in which countries of the Middle East, North Africa, and the Caucasus and Central Asia (MECA) can enhance governance and fight corruption to achieve their economic...

Reserve Currencies in an Evolving International Monetary System »

Volume/Issue: 2020/002

Series: Departmental Papers

Author(s): Alina Iancu , Gareth Anderson , Sakai Ando , Ethan Boswell , Andrea Gamba , Shushanik Hakobyan , Lusine Lusinyan , Neil Meads , and Yiqun Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2020

DOI: http://dx.doi.org/10.5089/9781513560298.087

ISBN: 9781513560298

Keywords: Reserve currencies, Basket of currencies composition, Debt (external), International monetary system, Currencies, Digital currencies, International reserves, Central Bank digital currencies, Foreign exchange reserves, international currency

Despite major structural shifts in the international monetary system over the past six decades, the US dollar remains the dominant international reserve currency. Using a newly compiled database of individual econo...

Social Spending for Inclusive Growth in the Middle East and Central Asia »

Volume/Issue: 2020/012

Series: Departmental Papers

Author(s): Koshy Mathai , Christoph Duenwald , Anastasia Guscina , Rayah Al-Farah , Hatim Bukhari , Atif Chaudry , Moataz El-Said , Fozan Fareed , Kerstin Gerling , Nghia-Piotr Le , Franto Ricka , Cesar Serra , Tetyana Sydorenko , Sébastien Walker , and Mohammed Zaher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2020

Language: French

DOI: http://dx.doi.org/10.5089/9781513560120.087

ISBN: 9781513560120

Keywords: Equity and social spending, Social protection spending, Middle East and Central Asia, Inclusive growth, Health, Health care spending, Education, Education spending, Expenditure, Social spending

This paper examines the role of social spending in improving socioeconomic outcomes in the Middle East and Central Asia. In particular, it addresses the following questions: (1) how large is social spending across...

Social Spending for Inclusive Growth in the Middle East and Central Asia »

Volume/Issue: 2020/12

Series: Departmental Papers

Author(s): Koshy Mathai , Christoph Duenwald , Anastasia Guscina , Rayah Al-Farah , Hatim Bukhari , Atif Chaudry , Moataz El-Said , Fozan Fareed , Kerstin Gerling , Nghia-Piotr Le , Franto Ricka , Cesar Serra , Tetyana Sydorenko , Sébastien Walker , and Mohammed Zaher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2020

DOI: http://dx.doi.org/10.5089/9781513553115.087

ISBN: 9781513553115

Keywords: Equity and social spending, Social protection spending, Middle East and Central Asia, Inclusive growth, Social spending;Social protection;Middle East and Central Asia;Inclusive growth

This paper examines the role of social spending in improving socioeconomic outcomes in the Middle East and Central Asia. In particular, it addresses the following questions: (1) how large is social spending across...

Social Spending for Inclusive Growth in the Middle East and Central Asia »

Volume/Issue: 2020/012

Series: Departmental Papers

Author(s): Koshy Mathai , Christoph Duenwald , Anastasia Guscina , Rayah Al-Farah , Hatim Bukhari , Atif Chaudry , Moataz El-Said , Fozan Fareed , Kerstin Gerling , Nghia-Piotr Le , Franto Ricka , Cesar Serra , Tetyana Sydorenko , Sébastien Walker , and Mohammed Zaher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2020

Language: Russian

DOI: http://dx.doi.org/10.5089/9781513560144.087

ISBN: 9781513560144

Keywords: Equity and social spending, Social protection spending, Middle East and Central Asia, Inclusive growth, Health, Health care spending, Education, Education spending, Expenditure, Social spending

This paper examines the role of social spending in improving socioeconomic outcomes in the Middle East and Central Asia. In particular, it addresses the following questions: (1) how large is social spending across...

Infrastructure in Central, Eastern, and Southeastern Europe : Benchmarking, Macroeconomic Impact, and Policy Issues »

Volume/Issue: 2020/11

Series: Departmental Papers

Author(s): Anil Ari , David Bartolini , Vizhdan Boranova , Gabriel Di Bella , Kamil Dybczak , Keiko Honjo , Raju Huidrom , Andreas Jobst , Nemanja Jovanovic , Ezgi Ozturk , Laura Papi , Sergio Sola , Michelle Stone , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2020

DOI: http://dx.doi.org/10.5089/9781513550558.087

ISBN: 9781513550558

Keywords: Infrastructure, Infrastructure policies, Central and Eastern Europe, Economic policy, Infrastructure;Public investment management;risk management;Deficit;Debt;Cross-Country Output Convergence;Benchmarking

CESEE countries lag in terms of infrastructure compared to the EU15, and deficient infrastructure is often cited as a constraint to growth and convergence. Investing in infrastructure is therefore an important long...

EU Climate Mitigation Policy »

Volume/Issue: 2020/13

Series: Departmental Papers

Author(s): Jiaqian Chen , Maksym Chepeliev , Daniel Garcia-Macia , Dora Iakova , James Roaf , Anna Shabunina , Dominique van der Mensbrugghe , and Philippe Wingender

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2020

DOI: http://dx.doi.org/10.5089/9781513552569.087

ISBN: 9781513552569

Keywords: Climate change, European Union (EU), Environmental policy, Carbon tax, Burden sharing, Emissions trading, Climate policy, Global warming;Climate change;European Union (EU);Greenhouse emissions;Carbon pricing;Fiscal policy;Green technology;Carbon emissions

This paper aims to contribute to the debate on the choice of policies to reach the more ambitious 2030 emission reduction goals currently under consideration. It provides an analysis of the macroeconomic and distri...

Sectoral Policies for Climate Change Mitigation in the EU »

Volume/Issue: 2020/14

Series: Departmental Papers

Author(s): Nicolas Arregui , Ruo Chen , Christian Ebeke , Jan-Martin Frie , Daniel Garcia-Macia , Dora Iakova , Andreas Jobst , Louise Rabier , James Roaf , Anna Shabunina , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 September 2020

DOI: http://dx.doi.org/10.5089/9781513552651.087

ISBN: 9781513552651

Keywords: Climate change, Climate policy, European Union (EU), Environmental policy, Environmental sustainability, Renewable energy, Greenhouse gas emissions, Climate change;Fiscal policies;Greenhouse gas emissions;European Union;Sectoral policies;Carbon pricing;Energy Efficiency

This paper discusses sectoral policies needed to achieve the ambitious greenhouse gas (GHG) emissions reduction targets announced in the European Union's Green Deal, complementing the companion paper 'EU Climate Mi...

The Development Path Less Traveled : The Experience of Rwanda »

Volume/Issue: 2020/10

Series: Departmental Papers

Author(s): Laure Redifer , Emre Alper , Neil Meads , Tunc Gursoy , Monique Newiak , Alun Thomas , and Samson Kwalingana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 August 2020

DOI: http://dx.doi.org/10.5089/9781513551371.087

ISBN: 9781513551371

Keywords: Economic development, Economic conditions, Economic integration, Economic policy, Regional economics, Economic growth, Economic recovery, Health indicators, Rwanda, Economic development

This paper explores some of the key factors behind Rwanda key successes, including unique institution-building that emphasized governance and ownership; aid-fueled and government-led strategic investment in people,...

The Promise of Fintech : Financial Inclusion in the Post COVID-19 Era »

Volume/Issue: 2020/9

Series: Departmental Papers

Author(s): Ratna Sahay , Ulric Allmen , Amina Lahreche , Purva Khera , Sumiko Ogawa , Majid Bazarbash , and Kimberly Beaton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2020

DOI: http://dx.doi.org/10.5089/9781513512242.087

ISBN: 9781513512242

Keywords: Financial inclusion, Technological innovation, Financial services, Financial services industry, Contagious diseases, Financial crises, Financial institutions, Macroprudential policies and financial stability, COVID-19, Pandemic

Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the wor...

Measuring Financial Access : 10 Years of the IMF Financial Access Survey »

Volume/Issue: 2020/8

Series: Departmental Papers / Policy Papers

Author(s): Marco Espinosa-Vega , Kazuko Shirono , Hector Carcel Villanova , Esha Chhabra , Bidisha Das , and Yingjie Fan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 May 2020

DOI: http://dx.doi.org/10.5089/9781513538853.087

ISBN: 9781513538853

Keywords: Financial inclusion, Financial institutions, Inclusive growth, Economic development, Financial inclusion;Financial institutions;Inclusive growth;Economic development

This departmental paper marks the 10th anniversary of the IMF Financial Access Survey (FAS). It offers a retrospective of the FAS database, along with some reflections as to its future directions. Since its 20...

Improving Fiscal Transparency to Raise Government Efficiency and Reduce Corruption Vulnerabilities in Central, Eastern, and Southeastern Europe »

Volume/Issue: 2020/6

Series: Departmental Papers / Policy Papers

Author(s): Bernardin Akitoby , Larry Cui , Silvia Domit , Jingzhou Meng , Slavi Slavov , Nujin Suphaphiphat , and Hanqi Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2020

DOI: http://dx.doi.org/10.5089/9781513532837.087

ISBN: 9781513532837

Keywords: Fiscal transparency, Corruption, Fiscal risk, Governance, Fiscal Transparency; Corruption; Government Efficiency; Fiscal Risks

This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities...

Stress Testing in Sub-Saharan Africa : Practices, Communications, and Capacity Development »

Volume/Issue: 2020/7

Series: Departmental Papers / Policy Papers

Author(s): Mindaugas Leika , Hector Perez-Saiz , Olga Ilinichna Stankova , and Torsten Wezel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 May 2020

DOI: http://dx.doi.org/10.5089/9781513532912.087

ISBN: 9781513532912

Keywords: Banking, Stress testing, Sub-Saharan Africa, Banking; Capacity Development;Stress testing;Sub-Saharan Africa

The paper finds that supervisory stress tests are conducted in more than half of sub-Saharan African countries, particularly in western and southern Africa, and that the number of individual stress tests has grown...

Macroprudential Policies and House Prices in Europe »

Volume/Issue: 2020/3

Series: Departmental Papers / Policy Papers

Author(s): Marco Arena , Tingyun Chen , Seung Choi , Nan Geng , Cheikh Gueye , Tonny Lybek , Evan Papageorgiou , and Yuanyan Sophia Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2020

DOI: http://dx.doi.org/10.5089/9781513512259.087

ISBN: 9781513512259

Keywords: Macroprudential policies and financial stability, Financial stability, Housing prices, Europe, Financial crises, Supply and demand, Economic cooperation, Financial services, DPPP, LTV

Macroprudential policy in Europe aligns with the objective of limiting systemic risk, namely the risk of widespread disruption to the provision of financial services that is caused by an impairment of all or parts...

Managing Systemic Banking Crises : New Lessons and Lessons Relearned »

Volume/Issue: 2020/5

Series: Departmental Papers / Policy Papers

Author(s): Marina Moretti , Marc Dobler , and Alvaro Piris Chavarri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2020

DOI: http://dx.doi.org/10.5089/9781513512273.087

ISBN: 9781513512273

Keywords: Systemic crisis management, Banking crisis, Bank resolution, Bank restructuring, Lender of last resort, Deposit insurance, Non-performing loans, Asset management companies, Systemically important financial institutions, Financial crises

This paper updates the IMF's work on general principles, strategies, and tech-niques from an operational perspective in preparing for and managing sys-temic banking crises in light of the experiences and challenges...

The Future of Oil and Fiscal Sustainability in the GCC Region »

Volume/Issue: 2020/1

Series: Departmental Papers / Policy Papers

Author(s): Tokhir Mirzoev , Ling Zhu , Yang Yang , Tian Zhang , Erik Roos , Andrea Pescatori , and Akito Matsumoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2020

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781513525938.087

ISBN: 9781513525938

Keywords: Fiscal policy, Oil exporting countries, Gulf Cooperation Council (GCC), Oil prices, Oil revenues, Supply and demand, Producer prices, Public financial management, Oil-exporting countries, DPPP

The Future of Oil and Fiscal Sustainability in the GCC Region...

The Future of Oil and Fiscal Sustainability in the GCC Region »

Volume/Issue: 2020/1

Series: Departmental Papers / Policy Papers

Author(s): Tokhir Mirzoev , Ling Zhu , Yang Yang , Tian Zhang , Erik Roos , Andrea Pescatori , and Akito Matsumoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2020

DOI: http://dx.doi.org/10.5089/9781513525907.087

ISBN: 9781513525907

Keywords: Fiscal policy, Oil exporting countries, Gulf Cooperation Council (GCC), Oil prices, Oil revenues, Supply and demand, Producer prices, Public financial management, Oil-exporting countries, DPPP

The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away fro...

Stress Testing at the IMF »

Volume/Issue: 2020/4

Series: Departmental Papers / Policy Papers

Author(s): Tobias Adrian , James Morsink , and Liliana Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 2020

DOI: http://dx.doi.org/10.5089/9781513520742.087

ISBN: 9781513520742

Keywords: Financial crises, Financial institutions, Macroprudential policies and financial stability, Financial systems, Macro-financial analysis, DPPP, solvency, stress test, IMF, individual bank

This paper explains specifics of stress testing at the IMF. After a brief section on the evolution of stress tests at the IMF, the paper presents the key steps of an IMF staff stress test. They are followed by a di...

Frontiers of Economic Policy Communications »

Volume/Issue: 2019/8

Series: Departmental Papers / Policy Papers

Author(s): Olga Ilinichna Stankova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781513510606.087

ISBN: 9781513510606

Keywords: Economic policy, External communications, Communications services, Financial institutions, Central banks, Central bank accountability, Central bank policy, Central bank independence, Central banking, Economic Policy Communications

The paper provides an overall view of communications across various areas of economic policy, aiming to help country authorities as they increasingly use communications as a policy tool in its own right. The paper...

Lifting Growth in the Western Balkans : The Role of Global Value Chains and Services Exports »

Volume/Issue: 2019/13

Series: Departmental Papers / Policy Papers

Author(s): Nadeem Ilahi , Armine Khachatryan , William Lindquist , Nhu Nguyen , Faezeh Raei , and Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2019

DOI: http://dx.doi.org/10.5089/9781498314916.087

ISBN: 9781498314916

Keywords: Economic growth, Foreign trade, Supply, Services industry, Regional integration, Trade; Global Value Chains; Supply Chains; Growth; Services Trade; EU accession; Regional Integration

In the past 25 years, exports have contributed strongly to growth and economic convergence in many small open economies. However, the Western Balkan (WB) region, consisting of small emerging market economies, has n...

Is South Asia Ready for Take Off? : A Sustainable and Inclusive Growth Agenda »

Volume/Issue: 2019/18

Series: Departmental Papers / Policy Papers

Author(s): Manuela Goretti , Daisaku Kihara , Ranil Salgado , and Anne Gulde

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 November 2019

DOI: http://dx.doi.org/10.5089/9781513507538.087

ISBN: 9781513507538

Keywords: Economic conditions, Financial crises, Economic growth, Supply and demand, Financial regulation and supervision, DPPP, reform effort, economic outlook, south Asia, demographic dividend

Since the mid-1980s, durable reforms coupled with prudent macroeconomic management have brought steady progress to the South Asia region, making it one of the world's fastest growing regions. Real GDP growth has st...

Facing the Tides : Managing Capital Flows in Asia »

Volume/Issue: 2019/17

Series: Departmental Papers / Policy Papers

Author(s): Harald Finger , and Pablo Lopez Murphy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2019

DOI: http://dx.doi.org/10.5089/9781513512334.087

ISBN: 9781513512334

Keywords: Exchange rate policy, Real effective exchange rates, Balance of payments, Exchange markets, Balance of payments statistics, DPPP, capital flow, capital inflow, output gap, inflow

This paper looks empirically at some economic effects of volatile exchange rates and financial conditions and examines policy responses for managing such volatility. It also sheds light on some economic costs that...

Frontiers of Economic Policy Communications »

Volume/Issue: 2019/8

Series: Departmental Papers / Policy Papers

Author(s): Olga Ilinichna Stankova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2019

Language: Russian

DOI: http://dx.doi.org/10.5089/9781513510613.087

ISBN: 9781513510613

Keywords: Economic policy, External communications, Communications services, Financial institutions, Central banks, Central bank accountability, Central bank policy, Central bank independence, Central banking, Economic Policy Communications

The paper provides an overall view of communications across various areas of economic policy, aiming to help country authorities as they increasingly use communications as a policy tool in its own right. The paper...

Cybersecurity Risk Supervision »

Volume/Issue: 2019/15

Series: Departmental Papers / Policy Papers

Author(s): Tamas Gaidosch , Frank Adelmann , Anastasiia Morozova , and Christopher Wilson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2019

DOI: http://dx.doi.org/10.5089/9781513507545.087

ISBN: 9781513507545

Keywords: Financial services, Financial sector oversight, Banking supervision, Risk management, Systemically important financial institutions, Financial systems, Macroprudential policies and financial stability, Financial markets, Cybersecurity, Cyber risks

This paper highlights the emerging supervisory practices that contribute to effective cybersecurity risk supervision, with an emphasis on how these practices can be adopted by those agencies that are at an early st...

The Economics and Implications of Data : An Integrated Perspective »

Volume/Issue: 2019/16

Series: Departmental Papers / Policy Papers

Author(s): Yan Carriere-Swallow , and Vikram Haksar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 September 2019

DOI: http://dx.doi.org/10.5089/9781513511436.087

ISBN: 9781513511436

Keywords: Data; growth; inequality; privacy; consumer protection; competition; financial stability; cyber-security

This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks....

Strategy for Fintech Applications in the Pacific Island Countries »

Volume/Issue: 2019/14

Series: Departmental Papers / Policy Papers

Author(s): Sonja Davidovic , Elena Loukoianova , Cormac Sullivan , and Hervé Tourpe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2019

DOI: http://dx.doi.org/10.5089/9781498326735.087

ISBN: 9781498326735

Keywords: Pacific Island Countries, Financial inclusion, Financial institutions, Technological innovation, Banking, Banking regulations, Financial regulation and supervision, Financial markets, Financial management, Financial services

The Bali Fintech Agenda highlights 12 principles for policymakers to consider when formulating their approaches to new financial technology (fintech). The agenda aims to harness the potential of fintech while manag...

Demographic Headwinds in Central and Eastern Europe »

Volume/Issue: 2019/12

Series: Departmental Papers / Policy Papers

Author(s): Cristina Batog , Ernesto Crivelli , Anna Ilyina , Zoltan Jakab , Jaewoo Lee , Anvar Musayev , Iva Petrova , Alasdair Scott , Anna Shabunina , Andreas Tudyka , Xin Cindy Xu , and Ruifeng Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2019

DOI: http://dx.doi.org/10.5089/9781498319768.087

ISBN: 9781498319768

Keywords: Central and Eastern Europe, Demographic indicators, Emigration and immigration (Economic Aspects), Labor productivity, Labor supply, Total factor productivity, Age-related spending, National income, Labor market reforms, Demographic changes

The populations of Central and Eastern European (CESEE) countries-with the exception of Turkey-are expected to decrease significantly over the next 30 years, driven by low or negative net birth rates and outward mi...

Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe »

Volume/Issue: 2019/11

Series: Departmental Papers / Policy Papers

Author(s): Christine Richmond , Dora Benedek , Bobana Cegar , Peter Dohlman , Michelle Hassine , Beata Jajko , Piotr Kopyrski , Maksym Markevych , Jacques Miniane , Francisco Parodi , Gabor Pula , James Roaf , Min Kyu Song , Mariya Sviderskaya , Rima Turk , and Sebastian Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 2019

DOI: http://dx.doi.org/10.5089/9781498315142.087

ISBN: 9781498315142

Keywords: Business enterprises, Central and Eastern Europe, Public enterprises, Financial soundness indicators, Real sector, Economic stabilization, Bank credit, Total factor productivity, State-owned enterprises, state-owned banks

The Central, Eastern, and South Eastern European (CESEE) region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early 2000s was not...

Trade Tensions, Global Value Chains, and Spillovers : Insights for Europe »

Volume/Issue: 2019/10

Series: Departmental Papers / Policy Papers

Author(s): Raju Huidrom , Nemanja Jovanovic , Carlos Mulas-Granados , Laura Papi , Faezeh Raei , Emil Stavrev , and Philippe Wingender

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2019

DOI: http://dx.doi.org/10.5089/9781498315135.087

ISBN: 9781498315135

Keywords: Supply, Tariffs, Economic growth, Spillovers, Trade, Regional trade, Trade Tensions;Global value Chains;Supply Chains;Growth;Tariffs;Spillovers

Europe is deeply integrated into global value chains and recent trade tensions raise the question of how European economies would be affected by the introduction of tariffs or other trade barriers. This paper estim...

Frontiers of Economic Policy Communications »

Volume/Issue: 2019/8

Series: Departmental Papers / Policy Papers

Author(s): Olga Ilinichna Stankova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2019

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513510620.087

ISBN: 9781513510620

Keywords: Economic policy, External communications, Communications services, Financial institutions, Central banks, Central bank accountability, Central bank policy, Central bank independence, Central banking, Economic Policy Communications

The paper provides an overall view of communications across various areas of economic policy, aiming to help country authorities as they increasingly use communications as a policy tool in its own right. The paper...

Frontiers of Economic Policy Communications »

Volume/Issue: 2019/8

Series: Departmental Papers / Policy Papers

Author(s): Olga Ilinichna Stankova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 May 2019

DOI: http://dx.doi.org/10.5089/9781498311038.087

ISBN: 9781498311038

Keywords: Economic policy, External communications, Communications services, Financial institutions, Central banks, Central bank accountability, Central bank policy, Central bank independence, Central banking, Economic Policy Communications

The paper provides an overall view of communications across various areas of economic policy, aiming to help country authorities as they increasingly use communications as a policy tool in its own right. The paper...

Promoting Inclusive Growth in the Caucasus and Central Asia »

Volume/Issue: 2019/9

Series: Departmental Papers / Policy Papers

Author(s): Mercedes Vera-Martín , Dominique Fayad , Sergejs Saksonovs , Wei Shi , and Fang Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2019

DOI: http://dx.doi.org/10.5089/9781498313353.087

ISBN: 9781498313353

Keywords: Central Asia and the Caucasus, Inclusive growth, Financial inclusion, Fiscal policy, Economic growth, Unemployment, Total factor productivity, Credit, Caucasus and Central Asia, CCA

CCA countries achieved gains in inclusiveness over the past 20 years as incomes increased and poverty, inequality, and unemployment declined. Most of the progress occurred before the 2008-09 global financial crisis...

Public-Private Partnerships in the Caribbean Region : Reaping the Benefits while Managing Fiscal Risks »

Volume/Issue: 2019/7

Series: Departmental Papers / Policy Papers

Author(s): Maximilien Queyranne , Wendell Daal , and Katja Funke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2019

DOI: http://dx.doi.org/10.5089/9781498307062.087

ISBN: 9781498307062

Keywords: Public-private partnership, Caribbean, Caribbean Regional Technical Assistance Center (CARTAC), Fiscal risk, Financial management information systems, National income, Financial statistics, Public investments, Real sector, PPPs

To provide policymakers in the Caribbean with a governance framework for improving infrastructure through Public-Private Partnerships (PPPs), while limiting their fiscal costs and risks for the government. And to s...

Report on the Pacific Roundtables : Actions to Address Correspondent Banking and Remittances Pressures »

Volume/Issue: 2019/6

Series: Departmental Papers / Policy Papers

Author(s): Alison Stuart , Jihad Alwazir , Yan Liu , Scott Roger , Si Guo , Chau Nguyen , Emmanuel Mathias , and Jonathan Pampolina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2019

DOI: http://dx.doi.org/10.5089/9781498306447.087

ISBN: 9781498306447

Keywords: Banking, Emigrant remittances, Remittances, Pacific Islands, Remittance money, Australia and New Zealand, International organizations, Central banks, Bank accounting, Commercial banks

The paper looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international...

ISORA 2016 : Understanding Revenue Administration »

Volume/Issue: 2019/5

Series: Departmental Papers / Policy Papers

Author(s): William Joseph Crandall , Elizabeth Gavin , and Andrew Masters

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2019

DOI: http://dx.doi.org/10.5089/9781484383216.087

ISBN: 9781484383216

Keywords: Revenue administration, Tax administration code and regulations, Tax revenue, Tax administration, Consumption taxes, Tax evasion, Tax legislation, higher-income;lower-income;lower-income group;on-time;fragile state

This paper presents the results of the International Survey on Revenue Administration (ISORA) deployed during 2016 and covering fiscal years 2014 and 2015. It is made possible by the participation of 135 tax admini...

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia »

Volume/Issue: 2019/2

Series: Departmental Papers / Policy Papers

Author(s): Nicolas Blancher , Maximiliano Appendino , Aidyn Bibolov , Armand Fouejieu , Jiawei Li , Anta Ndoye , Alexandra Panagiotakopoulou , Wei Shi , and Tetyana Sydorenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

Language: Russian

DOI: http://dx.doi.org/10.5089/9781484396964.087

ISBN: 9781484396964

Keywords: Financial inclusion, Middle East and Central Asia, Business enterprises, Financial regulation and supervision, Bank credit, Central banks, Financial statistics, Monetary authorities, Small and Medium Enterprises, SME

The importance of financial inclusion is increasingly recognized by policymakers around the world. Small and medium-sized enterprise (SME) financial inclusion, in particular, is at the core of the economic diversif...

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia »

Volume/Issue: 2019/2

Series: Departmental Papers / Policy Papers

Author(s): Nicolas Blancher , Maximiliano Appendino , Aidyn Bibolov , Armand Fouejieu , Jiawei Li , Anta Ndoye , Alexandra Panagiotakopoulou , Wei Shi , and Tetyana Sydorenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781484396889.087

ISBN: 9781484396889

Keywords: Financial inclusion, Middle East and Central Asia, Business enterprises, Small and Medium Enterprises, Financial Inclusion, Middle East and Central Asia

The importance of financial inclusion is increasingly recognized by policymakers around the world. Small and medium-sized enterprise (SME) financial inclusion, in particular, is at the core of the economic diversif...

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia »

Volume/Issue: 2019/2

Series: Departmental Papers / Policy Papers

Author(s): Nicolas Blancher , Maximiliano Appendino , Aidyn Bibolov , Armand Fouejieu , Jiawei Li , Anta Ndoye , Alexandra Panagiotakopoulou , Wei Shi , and Tetyana Sydorenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781484396896.087

ISBN: 9781484396896

Keywords: Financial inclusion, Middle East and Central Asia, Business enterprises, Small and Medium Enterprises, Financial Inclusion, Middle East and Central Asia

The importance of financial inclusion is increasingly recognized by policymakers around the world. Small and medium-sized enterprise (SME) financial inclusion, in particular, is at the core of the economic diversif...

FinTech in Sub-Saharan African Countries : A Game Changer? »

Volume/Issue: 2019/4

Series: Departmental Papers / Policy Papers

Author(s): Amadou Sy , Rodolfo Maino , Alexander Massara , Hector Perez Saiz , and Preya Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2019

DOI: http://dx.doi.org/10.5089/9781484385661.087

ISBN: 9781484385661

Keywords: Sub-Saharan Africa, Financial services, Technological innovation, Financial inclusion, FinTech; Financial Technology; Financial Inclusion; Innovation; Sub-Saharan Africa

FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitiv...

Economic Integration in the Maghreb : An Untapped Source of Growth »

Volume/Issue: 2019/1

Series: Departmental Papers / Policy Papers

Author(s): Alexei Kireyev , Boaz Nandwa , Lorraine Ocampos , Babacar Sarr , Ramzy Al Amine , Allan Auclair , Yufei Cai , and Jean-Francois Dauphin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2019

Language: Arabic

DOI: http://dx.doi.org/10.5089/9781484389843.087

ISBN: 9781484389843

Keywords: Maghreb, Economic Integration, Economic Development, North Africa, Libyan Arab Jamahiriya

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their tota...

Economic Integration in the Maghreb : An Untapped Source of Growth »

Volume/Issue: 2019/1

Series: Departmental Papers / Policy Papers

Author(s): Jean-Francois Dauphin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2019

DOI: http://dx.doi.org/10.5089/9781484378373.087

ISBN: 9781484378373

Keywords: Economic development, Tunisia, Economic integration, Morocco, North Africa, Algeria, Maghreb, Mauritania, Middle East, Maghreb; Economic Integration; Economic Development; North Africa

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their tota...

Economic Integration in the Maghreb : An Untapped Source of Growth »

Volume/Issue: 2019/1

Series: Departmental Papers / Policy Papers

Author(s): Alexei Kireyev , Boaz Nandwa , Lorraine Ocampos , Babacar Sarr , Ramzy Al Amine , Allan Auclair , Yufei Cai , and Jean-Francois Dauphin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2019

Language: French

DOI: http://dx.doi.org/10.5089/9781484389164.087

ISBN: 9781484389164

Keywords: Maghreb; Economic Integration; Economic Development; North Africa, Libyan Arab Jamahiriya

Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their tota...

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia »

Volume/Issue: 2019/2

Series: Departmental Papers / Policy Papers

Author(s): Nicolas Blancher , Maximiliano Appendino , Aidyn Bibolov , Armand Fouejieu , Jiawei Li , Anta Ndoye , Alexandra Panagiotakopoulou , Wei Shi , and Tetyana Sydorenko

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2019

DOI: http://dx.doi.org/10.5089/9781484383124.087

ISBN: 9781484383124

Keywords: Financial inclusion, Middle East and Central Asia, Business enterprises, Financial regulation and supervision, Bank credit, Central banks, Financial statistics, Monetary authorities, Small and Medium Enterprises, SME

The importance of financial inclusion is increasingly recognized by policymakers around the world. Small and medium-sized enterprise (SME) financial inclusion, in particular, is at the core of the economic diversif...

Debt Maturity and the Use of Short-Term Debt : Evidence form Sovereigns and Firms »

Volume/Issue: 2019/3

Series: Departmental Papers / Policy Papers

Author(s): Sophia Chen , Paola Ganum , Lucy Qian Liu , Leonardo Martinez , and Maria Martinez Peria

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 2019

DOI: http://dx.doi.org/10.5089/9781484380536.087

ISBN: 9781484380536

Keywords: Sovereign debt, Corporate debt, Debt Maturity; Short-term Debt

The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover risk (where the terms of financing are renegotiated to the detriment of the borrower) and is as...

The Future of Work in Sub-Saharan Africa »

Volume: 18

Series: Departmental Papers / Policy Papers

Author(s): Aidar Abdychev , Cristian Alonso , Emre Alper , Dominique Desruelle , Siddharth Kothari , Yun Liu , Mathilde Perinet , Sidra Rehman , Axel Schimmelpfennig , and Preya Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2018

DOI: http://dx.doi.org/10.5089/9781484383094.087

ISBN: 9781484383094

Keywords: Labor markets, Economic conditions, Economic development, Economic integration, National income, Economic growth, Poverty, Unemployment, Future of Work, Sub-Saharan Africa

Far-reaching changes in technology, climate, and global economic integration are transforming the world of work in ways that we do not yet fully understand. Will the swift technological advances of the Fourth Indus...

Financial Inclusion in Asia-Pacific »

Volume/Issue: 2018/17

Series: Departmental Papers / Policy Papers

Author(s): Elena Loukoianova , Yongzheng Yang , Si Guo , Leni Hunter , Sarwat Jahan , Fazurin Jamaludin , and Johanna Schauer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2018

DOI: http://dx.doi.org/10.5089/9781484371015.087

ISBN: 9781484371015

Keywords: Financial inclusion, Financial institutions, Financial services industry, Poor, financial inclusion, macroeconomic policymaking, fintech, Asia, Asia Pacific, Pacific

Asia has made significant progress in financial inclusion, but both its across-country and intra-country disparities are among the highest in the world. The gaps between the rich and the poor, rural and urban popul...

Managing the Sovereign-Bank Nexus »

Volume/Issue: 2018/16

Series: Departmental Papers / Policy Papers

Author(s): Giovanni Dell'Ariccia , Caio Ferreira , Nigel Jenkinson , Luc Laeven , Alberto Martin , Camelia Minoiu , and Alex Popov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 September 2018

DOI: http://dx.doi.org/10.5089/9781484359624.087

ISBN: 9781484359624

Keywords: Bank supervision, Public debt, Sovereign debt, Public Debt; Bank supervision;

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source...

Central African Economic and Monetary Community : A New Medium-Term Approach »

Volume/Issue: 2018/15

Series: Departmental Papers / Policy Papers

Author(s): Mario Zamaróczy , and Jose Gijon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 August 2018

Language: French

DOI: http://dx.doi.org/10.5089/9781484364475.087

ISBN: 9781484364475

This paper discusses possible reserve management approaches in the Central African Economic and Monetary Community (CEMAC). The paper looks beyond the region's current oil crisis and proposes a new approach to inte...

Central African Economic and Monetary Community : A New Medium-Term Approach for International Reserve Management »

Volume/Issue: 2018/15

Series: Departmental Papers / Policy Papers

Author(s): Mario de Zamaroczy , Vincent Fleuriet , and Jose Gijon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2018

DOI: http://dx.doi.org/10.5089/9781484350676.087

ISBN: 9781484350676

Keywords: Reserve management guidelines, Central African Economic and Monetary Community (CEMAC)

This paper discusses possible reserve management approaches in the Central African Economic and Monetary Community (CEMAC). The paper looks beyond the region's current oil crisis and proposes a new approach to inte...

Risk Management and Regulation »

Volume/Issue: 2018/13

Series: Departmental Papers / Policy Papers

Author(s): Tobias Adrian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2018

DOI: http://dx.doi.org/10.5089/9781484343913.087

ISBN: 9781484343913

Keywords: Stock exchanges, Capital movements, Financial risk, Risk management

The evolution of risk management has resulted from the interplay of financial crises, risk management practices, and regulatory actions. In the 1970s, research lay the intellectual foundations for the risk manageme...

Shadow Banking and Market-Based Finance »

Volume/Issue: 2018/14

Series: Departmental Papers / Policy Papers

Author(s): Tobias Adrian , and Bradley Jones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2018

DOI: http://dx.doi.org/10.5089/9781484343883.087

ISBN: 9781484343883

Keywords: Bank credit, Financial intermediation, Nonbank financial institution supervision, Stock exchanges

Variants of nonbank credit intermediation differ greatly. We provide a conceptual framework to help distinguish various characteristics-structural features, economic motivations, and risk implications-associated wi...