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Western Hemisphere > Argentina

You are looking at 1 - 7 of 7 items for :

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Cover IMF Working Papers
Spillovers from Large Emerging Economies: How Dominant Is China?
Hany Abdel-Latif
and
Adina Popescu
This paper investigates the global economic spillovers emanating from G20 emerging markets (G20-EMs), with a particular emphasis on the comparative influence of China. Employing a Bayesian Global Vector Autoregression (GVAR) model, we assess the impacts of both demand-side and supply-side shocks across 63 countries, capturing the nuanced dynamics of global economic interactions. Our findings reveal that China's contribution to global economic spillovers significantly overshadows that of other G20-EMs. Specifically, China's domestic shocks have significantly larger and more pervasive spillover effects on global GDP, inflation and commodity prices compared to shocks from other G20-EMs. In contrast, spillovers from other G20-EMs are more regionally contained with modest global impacts. The study underscores China's outsized role in shaping global economic dynamics and the limited capacity of other G20-EMs to mitigate any potential negative implications from China's economic slowdown in the near term.
Keywords:
Emerging Economies; Growth Spillover; Global transmission; GVAR model; outsized role; China's contribution; IMF working paper No. 25/27; domestic shock; Spillovers; Supply shocks; Emerging and frontier financial markets; Oil prices; Global value chains; Global
Cover IMF Working Papers
The Distribution of Gains from Globalization
Valentin F. Lang
and
Ms. Marina Mendes Tavares
We study economic globalization as a multidimensional process and investigate its effect on incomes. In a panel of 147 countries during 1970-2014, we apply a new instrumental variable, exploiting globalization’s geographically diffusive character, and find differential gains from globalization both across and within countries: Income gains are substantial for countries at early and medium stages of the globalization process, but the marginal returns diminish as globalization rises, eventually becoming insignificant. Within countries, these gains are concentrated at the top of national income distributions, resulting in rising inequality. We find that domestic policies can mitigate the adverse distributional effects of globalization.
Keywords:
WP; economic globalization; globalization score; national income; Globalization; Growth; Inequality; globalization process; globalization index; income level; globalization's effect; income growth; globalization indicator; effect of globalization; globalization scores; Personal income; Income inequality; Income distribution; Global
Cover IMF Staff Papers
IMF Staff Papers, Volume 56, No. 1
International Monetary Fund. Research Dept.
This special issue brings together world-renowned experts to provide a systematic and critical analysis of the costs and benefits of financial globalization. Contributors include Kenneth Rogoff, Maurice Obstfeld, Dani Rodrik, and Frederic S. Mishkin.
Keywords:
SP; financial globalization; country; emerging market country; globalization pose; banking globalization; banking sector globalization; Financial integration; Emerging and frontier financial markets; Financial sector development; Foreign banks; Global; Middle East; Sub-Saharan Africa; North Africa; Central Asia; East Africa
Cover IMF Working Papers
Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Merchantilism
Mr. Enrique G. Mendoza
,
Ceyhun Bora Durdu
, and
Mr. Marco Terrones
Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest for defense against Sudden Stops. We conduct a quantitative assessment of this argument using a framework in which precautionary savings affect foreign assets via business cycle volatility, financial globalization, and endogenous Sudden Stops. Our results show that financial globalization and Sudden Stop risk are plausible explanations of the surge in reserves but cyclical volatility, which has declined in the globalization period, is not.
Keywords:
WP; business cycle; debt limit; precautionary demand; globalization period; D. baseline result; business cycle volatility; Sudden Stop economy; effects of Volatility; Sudden stops; Foreign assets; Precautionary savings; Consumption; Global
Cover IMF Survey
IMF Survey, Volume 32, Issue 09
International Monetary Fund. External Relations Dept.
Over the past decade, gross cross-border capital flows have surged, not only among industrial countries but also between industrial and developing countries. What impact has this had on developing countries? A recent IMF study finds that once financial integration crosses a certain threshold, the positive effects of international capital flows can outweigh the negative effects. The authors, Eswar Prasad of the Asia and Pacific Department; Ken Rogoff, the IMF’s Economic Counsellor and Director of the Research Department; Shang-Jin Wei of the Research Department; and Ayhan Kose of the Western Hemisphere Department, spoke to the IMF Survey about their study.
Keywords:
SV; Dem. rep.; center; Kyrgyz rep; fund facility; IMF survey; Emergency assistance program; Lao people's Dem. rep; Fiscal consolidation; Currency boards; Exchange rates; Corruption; Asia and Pacific; Global; East Asia; Baltics; Caribbean
Cover IMF Survey
IMF Survey, Volume 31, Issue 18
International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; minister; country; IMF's website; website; Horst Köhler; emerging market country; foreign direct investment website; IMF Deputy managing director; U.K. national; Collective action clauses; Sovereign debt restructuring; Debt relief; Poverty reduction strategy; Global; Africa; Asia and Pacific; Middle East
Cover IMF Survey
IMF Survey, Volume 30, Issue 18
International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; IMF Treasurer's Department; SDR; EFF arrangement; IMF publication service; growth facility; IMF staff country; PRGF arrangement; Poverty reduction strategy; Privatization; Currency boards; Commercial banks; Global; Caribbean; Sub-Saharan Africa; Eastern Europe; Europe; Africa; East Asia; Asia and Pacific; Baltics; South Asia