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Business and Economics > Banks and Banking

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Resource Booms x
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Cover IMF Working Papers
Managing the Impact of Resource Booms on the Real Effective Exchange Rate: The Role of Financial Sector Development
Mr. Johannes Herderschee
and
Ms. Luisa Zanforlin
Whereas most of the literature related to the so-called “resource curse” tends to emphasize on institutional factors and public policies, in this research we focus on the role of the financial sector, which has been surprisingly overlooked. We find that countries that have financial systems with more depth, as well as those that actively manage their central banks’ balance sheets experience less exchange-rate appreciation than countries that do not. We analyze the relationship between these two findings and suggest that they appear to follow separate mechanisms.
Keywords:
Resource-Rich Countries; Financial Development; Monetary Policy; REER appreciation; credit vis-à-vis credit; monetary policy rate; balance sheet management policy; appreciation of the REER; nonrenewable resource wealth; gas resource; Financial sector development; Real effective exchange rates; Natural resources; Sterilization; Financial sector; Asia and Pacific
Cover Managing Economic Volatility in Latin America
Managing Economic Volatility in Latin America
Mr. R. G Gelos

Abstract

How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in recent years in an environment of uncertainty. It presents a collection of novel contributions on capital flows, terms of trade, and macroeconomic policy in Latin America. The rigorous expert analysis offers an up-to-date guide to many of the key economic policy questions in the region. Chapters focus on important analytical issues, including assessing reserves adequacy and current account levels. The roles of macroeconomic policies and exchange rates regimes in coping with large capital inflows are examined, as well as the effectiveness of both monetary policy and fiscal policy in dealing with economic challenges in the region.

Keywords:
BOOK; dollarization; current account; current account balance; deposit dollarization; reserve-to-GDP ratio; exchange rate appreciation; dollarization ratio; primary expenditure; Central America; Caribbean; Global; Africa; East Asia; Real exchange rates; Dutch disease; Exchange rate flexibility; Current account balance; U.S. dollar; foreign currency; dollarized economy; policy question
Cover IMF Staff Country Reports
Bhutan: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper and Statistical Appendix on Bhutan underlie the macroeconomic impact of Tala, rapid private sector credit growth, and macroeconomic risks. In Bhutan, as the bulk of Tala-related flows go through the government accounts, this requires an appropriate fiscal stance and skillful expenditure management. Strong economic growth will require and lead to a deepening and further development of the financial system in Bhutan. The financial sector seems to be relatively shielded from adverse events, although risks remain.
Keywords:
ISCR; CR; Bhutan; credit growth; internal rate of return; cost; tala; banking sector CAR; hydropower generation capacity; NPV terms; vis-à-vis India; annual debt service; growth in Bhutan; power project; Credit; Commercial banks; Loans; Monetary expansion; Financial sector