Banking, Finance and Taxation

 

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

 

Title: The Promise of Fintech: Financial Inclusion in the Post COVID-19 Era  
Series:
Departmental Papers
Author(s):
Ratna Sahay, Ulric Allmen, Amina Lahreche, Purva Khera, Sumiko Ogawa, Majid Bazarbash, and Kimberly Beaton
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
July 2020
DOI:
http://dx.doi.org/10.5089/9781513512242.087
ISBN:

 

9781513512242

 

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 world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.

 

Advancing the Frontiers of Monetary Policy

 

Title: Advancing the Frontiers of Monetary Policy   
Series:
Books
Authors(s):
Tobias Adrian, Douglas Laxton, and Maurice Obstfeld
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
April 2018
DOI:
http://dx.doi.org/10.5089/9781484325940.071
ISBN:

 

9781484325940

 

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also outlines efficient operational procedures and reviews the experiences of Canada, the Czech Republic, and India. The analysis highlights the need for assertive policies and maximum transparency

 

 

Challenges for Central Banking: Perspectives from Latin America

 

Title: Challenges for Central Banking: Perspectives from Latin America  
Series:
Books
Authors(s):
Luis I. Jacome H., Yan Carriere-Swallow, Hamid Faruqee, and Krishna Srinivasan
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
October 2016
DOI:
http://dx.doi.org/10.5089/9781513591766.071
ISBN:

 

9781513591766

 

In the wake of the 2008-09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. The breadth and scale of central bank operations have been modified or expanded in unprecedented and even unimaginable ways given the circumstances. Additionally, a fundamental rethinking of central banking and its policy frameworks has been taking place. This volume reflects a multilateral effort to help close the gap in our knowledge in meeting the critical challenges presented by these significant changes, in particular, those confronting central banks in Latin America. The volume's first section provides a panoramic overview of the policy progress made to date and the challenges that lie ahead. The related issue of spillovers and monetary independence is taken up more fully in the next section. The final section presents chapters that reexamine macroprudential and monetary policies and policy frameworks from the perspective of central bank staff members from the region.

 

 

Current Developments in Monetary and Financial Law, Volume 6: Restoring Financial Stability

 

Title: Current Developments in Monetary and Financial Law, Volume 6: Restoring Financial Stability  
Series:
Seminar Volumes
Authors(s):
International Monetary Fund
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
February 2013
DOI:
http://dx.doi.org/10.5089/9781616350819.072
ISBN:

 

9781616350819

 

'Restoring Financial Stability-The Legal Response' is the theme of the sixth volume of 'Current Developments in Monetary and Financial Law.' The book covers a range of issues: frameworks and regulatory reforms in the United States, European Union, and Japan that address systemic risk; the international dimension of financial stability; the regulation of complex financial products; cross-border banking supervision; capital adequacy; and corporate and household debt restructuring. The chapters are based on presentations from a seminar hosted by the IMF Legal Department, the Ministry of Finance of Japan, the Financial Services Agency of Japan, and the Bank of Japan, with the assistance of the IMF Institute. The contributors to the volume come from both the public and private sectors, and include academics, lawyers practicing in the fields of banking and financial law, and officials from central banks, supervisory and regulatory agencies, and standard-setting bodies.

 

 

Tax Amnesties: Theory, Trends, and Some Alternatives

 

Title: Tax Amnesties: Theory, Trends, and Some Alternatives  
Series:
IMF Special Series
Authors(s):
Eric Le Borgne, and Katherine Baer
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
July 2008
DOI:
http://dx.doi.org/10.5089/9781589067363.058
ISBN:

 

9781589067363

 

Tax amnesties remain as popular as ever as a tool for raising revenue and increasing tax compliance. International experience, however, shows that the costs of tax amnesty programs often exceed the programs' benefits. This paper weighs the advantages and disadvantages of tax amnesties, drawing on results from the theoretical literature, econometric evidence, and selected country and U.S. state case studies. The authors conclude that 'successful' tax amnesties are the exception rather than the norm. Improvements in tax administration are the essential ingredient in addressing the main problems that tax amnesties seek to address. Indeed, the most successful amnesty programs rely on improving the tax administration's enforcement capacity. ?Given the potential drawbacks of tax amnesties, a few alternative measures are discussed.