Narrow Your Choices

Refine By Countries

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Business and Economics > Banks and Banking

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

  • Type: Journal Issue x
  • Industry Studies: Services: General x
Clear All Modify Search
Cover IMF Staff Country Reports
Cook Islands: Technical Assistance Report-International Financial Services Industry
International Monetary Fund. Asia and Pacific Dept
This technical assistance mission report underlines efforts to estimate the economic and revenue contributions of the international financial services industry in the Cook Islands. This report discusses the data and methodology used and presents the results. One matter that has been raised is that international companies are exempt from all taxes in the Cook Islands. The economic contribution of the international financial services industry can be measured by the value added of resident institutional units engaged, directly or indirectly, in the production of international financial services in the Cook Islands. The production of international financial services generates income which is distributed to the various agents or groups of agents who use that income to acquire goods and services for consumption now or later. The international financial services industry also contributes indirectly to gross domestic product through two channels. The first channel is through the goods and services that the industry purchases from other suppliers, such as electricity, accounting services, telecommunications, etc.
Keywords:
ISCR; CR; trustee company; financial services service industry; income tax; taxable income; GDP contribution; Cook Islands trustee companies use; Services sector; Value-added tax; Wages; Income tax systems; Australia and New Zealand; Global
Cover IMF Staff Country Reports
Qatar: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper analyzes the performance and vulnerabilities of Qatar’s nonfinancial corporate (NFC) sector. Qatar’s NFC sector is sizable in terms of the overall share of economic activity. The total turnover of these companies was US$ 28 billion in 2016. Assets of listed and non-listed NFCs in Qatar were estimated at about 115 percent of non-hydrocarbon GDP in 2016. Although profitability of Qatari corporates, as measured by Return on Equity and Return on Assets, has declined, it is still high. Qatari companies remain resilient in the face of moderate to severe interest and earnings shocks, as median Interest Coverage Ratio of Qatari firms remains well above 1. The impact of these shocks on debt-at-risk and firms-at-risk is also limited.
Keywords:
ISCR; CR; private sector; earnings; credit growth; bank; NFC assets; earnings shock; IMF staff calculation; Qatari NFC sector; equity price; Qatar's Interest Coverage Ratio; Nonperforming loans; Oil prices; Credit; Stress testing; Commercial banks
Cover IMF Working Papers
Innovation, Deregulation, and the Life Cycle of a Financial Service Industry
Fumiko Hayashi
,
Ms. Grace B Li
, and
Zhu Wang
This paper examines innovation, deregulation, and firm dynamics over the life cycle of the U.S. ATM and debit card industry. In doing so, we construct a dynamic equilibrium model to study how a major product innovation (introducing the new debit card function) interacted with banking deregulation drove the industry shakeout. Calibrating the model to a novel dataset on ATM network entry, exit, size, and product offerings shows that our theory fits the quantitative pattern of the industry well. The model also allows us to conduct counterfactual analyses to evaluate the respective roles that innovation and deregulation played in the industry evolution.
Keywords:
WP; automated teller machine; Innovation; Deregulation; Industry Dynamics; Shakeout; ATM-debit network; debit innovation; ATM network; ATM-debit card; ATM-debit service; Technological innovation; Services sector; Public expenditure review
Cover IMF Staff Country Reports
France: Selected Issues
International Monetary Fund. European Dept.
The paper identifies France’s structural reforms that would yield the largest competitiveness gains based on macro-empirical evidence, and reviews signs of potential gains from a deregulation of the services sector. It is expected that completing deregulation in the services sector would benefit the entire French economy, by boosting productivity and exports. Econometric results have estimated the impact of reducing the labor taxation and labor market rigidities and of increasing innovation to the average level of other advanced countries.
Keywords:
ISCR; CR; bank; France; IMF WEO; merchandise export; IMF staff calculation; services deregulation; fiscal consolidation; Export performance; Services sector; Productivity; Foreign banks; Exports; Global; Europe
Cover IMF Working Papers
Transforming China: Insights from the Japanese Experience of the 1980s
Mr. Papa M N'Diaye
China is poised on the brink of a transition to a service-based economy. The Japanese experience of the 1980s provides several insights about the way to manage such a transition and the downsides to avoid. In particular Japan offers useful insights on (1) the limits to an export-oriented growth strategy; (2) the role of exchange rate, macroeconomic policies, and structural reforms in rebalancing the economy toward the nontradables sector; and (3) the risks associated with financial liberalization. The similarities between the Chinese economy today and the Japanese economy of the 1980s make these insights relevant for China. However, with the benefit of analyzing the Japanese experience and, given the important differences between the two economies, China should be able to successfully rebalance its growth pattern while avoiding the downsides encountered by Japan.
Keywords:
WP; Japan; China; liberalization; rate; yen
Cover IMF Staff Country Reports
Portugal: Staff Report for the 2005 Article IV Consultation
International Monetary Fund
The staff report for the 2005 Article IV Consultation on Portugal highlights economic developments and outlook. Private consumption has proven resilient, reflecting low interest rates and lengthening tenors on bank lending, while investment and export growth remained weak. Executive Directors concurred that in an unfavorable context marked by large fiscal and external imbalances, slow growth, and a weak competitive position, the challenge confronting the Portuguese government is to create the conditions to restart Portugal’s per capita income convergence toward the euro area average as soon as possible.
Keywords:
ISCR; CR; staff appraisal; Industial production; unprocessed food product; GDP; consumer confidence; short-term indicator; Socialist party; IMF staff representative; Fiscal stance; Global
Cover IMF Staff Country Reports
Republic of Korea: Staff Report for the 2004 Article IV Consultation
International Monetary Fund
This 2004 Article IV Consultation highlights that from 1999 to 2002, Korea’s economy grew rapidly, by an average of 7¼ percent per year. But starting in 2003, the economy has begun to sputter. Growth suddenly stopped in the first half of the year, leapt ahead in the second half as exports boomed, but then slowed again to an anemic 2¾ percent annualized rate during January–September 2004 as exports decelerated. The authorities have been countering this slowdown by easing macroeconomic policies. The fiscal policy stance has been shifted from neutral to mildly expansionary.
Keywords:
ISCR; CR; service industry output; staff appraisal; report; key interest rate; IMF staff representative; stimulative fiscal policy; recent data; Credit; Loans; Income; Credit bureaus; Global