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Business and Economics > Investments: Stocks

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

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  • IMF Staff Papers x
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Cover IMF Staff Papers
IMF Staff Papers, Volume 54, No. 2
International Monetary Fund. Research Dept.
Vol. 54, No. 2 includes three notable contributions from the Seventh Jacques Polak Annual Research Conference (ARC) hosted by the IMF in November 2006. Its lead paper, by Olivier Blanchard of Harvard University, is the 2006 Mundell-Fleming Lecture (delivered at the ARC), which analyzes current-account deficits in the advanced economies. Other papers in this issue look at the relationship between international financial integration and the real economy. Other papers discuss whether (or not): i) the next capital account crisis can be predicted; ii) accepted definitions of debt crises are adequate; iii) the Doha Round of trade talks (if they are ever successfully completed) will lead to preference erosion; and finally iv) there is room for political opportunism in countries deciding between money-based or exchange-rate-based stabilization programs.
Keywords:
SP; developing country; current account deficit; next election; ERBS program; election cycle; debt-servicing difficulty; EU market; Current account deficits; Consumption; Tariffs; Debt default; Global; East Asia; South Asia; Asia and Pacific; Africa
Cover IMF Staff Papers
IMF Staff Papers, Volume 53, No. 2
International Monetary Fund. Research Dept.
Noteworthy among the six papers appearing in this latest issue of the IMF's peer-reviewed journal is another installment in the Special Data Section. Anthony Pellechio and John Cady from the IMF's Statistics Department take a close look at differences in IMF data; how and when they could occur; and what the implications of such differences might be for end-users of the IMF's data.
Keywords:
SP; knowledge production function; external finance premium; BCP compliance; interest margin; debt intolerance; Total factor productivity; Stocks; Exchange rates; Basel Core Principles; Global; Africa; Asia and Pacific; Eastern Europe; East Asia; Middle East
Cover IMF Staff Papers
IMF Staff Papers, Volume 53, No. 1
International Monetary Fund. Research Dept.
This first issue for 2006 is anchored by two papers on Russia. The opening paper discusses Russia and the World Trade Organization, and the concluding paper, by John Odling-Smee (former Director of the IMF's European II Department), presents a comprehensive and authoritative history of the IMF's relations with Russia during the 1990s. Other articles in this issue cover rent-seeking behavior, estimations of government net capital stocks, and three papers cover different aspects of exchange rates.
Keywords:
SP; rent seeking; net exporter; rent seeker; exchange rate shock; capital stock estimate; economic policy; Real exchange rates; Exchange rates; Exchange rate arrangements; Stocks; Purchasing power parity; Western Hemisphere; Global; Baltics; Middle East; Eastern Europe
Cover IMF Staff Papers
IMF Staff Papers, Volume 50, Special Issue, IMF Third Annual Research Conference
Mr. Robert P Flood
The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as the fiscal burden reaches a critical level. The paper provides an overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on sovereign debt restructuring. It also describes the broad trends in international financial integration for a sample of industrial countries and explains the cross-country and time-series variation in the size of international balance sheets.
Keywords:
SP; risk premium; STT.; portfolio; portfolio equity assets; STTS shift; output space; emerging market crisis; portfolio equity gain; exchange rate depreciation; STTS gain sponsorship; Sovereign debt restructuring; Stocks; Debt restructuring; Foreign assets; Corporate insolvency; Global; East Asia; Sub-Saharan Africa; Europe; North America
Cover IMF Staff Papers
IMF Staff Papers, Volume 50, No. 2
Mr. Robert P Flood
This paper examines sources of economic growth in East Asia. The conventional growth-accounting approach to estimating the sources of economic growth requires unrealistically strong assumptions about either competitiveness of factor markets or the form of the underlying aggregate production function. The paper outlines a new approach utilizing nonparametric derivative estimation techniques that does not require imposing these restrictive assumptions. The results for East Asian countries show that output elasticities of capital and labor tend to be different from the income shares of these factors. The paper also explores the compensating potential of private intergenerational transfers.
Keywords:
SP; financing constraint; incumbent government; ruling elite; market distortion; government benevolence; investment function; Aging; Stocks; Current account deficits; Total factor productivity; North America; East Asia; Africa; Global; Sub-Saharan Africa
Cover IMF Staff Papers
IMF Staff Papers, Volume 47, No. 3
International Monetary Fund. Research Dept.
This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It looks at what precisely is meant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, and the effect that herding has on financial markets. The paper also surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries.
Keywords:
SP; price level; inflation rate; credit growth; reserve country; indexed debt; country estimate; pegged-rate regime; issuance policy; Stocks; Exchange rate arrangements; Inflation; Domestic credit; Exchange rates; Asia and Pacific; Global
Cover IMF Staff Papers
IMF Staff papers: Volume 25 No. 2
International Monetary Fund. Research Dept.
This paper outlines the Asian currency market provides an intermediation function between several Asian countries and the Eurocurrency market. However, soon after its creation in 1968, the Asian market went beyond this function and has now developed a substantial regional network of financial transactions. The Asian currency market was developed when the economy of Singapore was going through an important period of transition that was caused by the independence of the island in the mid-1960s and by a rapid phasing out of large British military installations. In addition to an important effort of economic development at home, this period of transition has involved expanding financial and trade relations to countries other than the British Commonwealth and the immediate neighbors. Several factors contributed to the establishment of the Asian currency market in Singapore. In the 1960s, the rapid economic growth of a number of Asian countries, an increased flow of direct investment, and a greater participation of multinational corporations in the economy of Asia generated a growing pool of foreign currencies in the hands of the private sector.
Keywords:
SP; par value; asset holder; unit of account; par value system; credit policy; asset disequilibrium; inflation process; Public enterprises; Currencies; Currency markets; Inflation; Domestic credit; Asia and Pacific; Middle East; Europe; Africa; Global