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 > Investments: Stocks

You are looking at 1 - 10 of 30 items for :

  • Type: Journal Issue x
Clear All Modify Search
Cover IMF Working Papers
Global Smartphones Sales May Have Peaked
Mr. Joannes Mongardini
and
Aneta Radzikowski
Global smartphone sales may have peaked. After reaching nearly 1.5 billion units in 2016, global smartphone sales have since declined, contributing negatively to world trade in 2019 and suggesting that the global market may now be saturated. This paper develops a simple model to forecast smartphone sales, which shows that sales are likely to decline further. As tech companies shift to embedded services (cloud computing, content subscriptions, and financial services), the impact on global trade may also be shifting in favor of services exports mostly from advanced economies.
Keywords:
WP; iPhone; Apple; iPhone sale; trade; global supply chains; global trade; tech cycle; smartphone sale; ICT-enabled services; services export; PC sales; ICT services; Apple cash; Mobile internet; Service exports; Stocks; Exports; Global; merchandise export; Asia and Pacific
Cover IMF Working Papers
Financial Frictions, Underinvestment, and Investment Composition: Evidence from Indian Corporates
Miss Sonali Das
and
Mr. Volodymyr Tulin
This paper studies private investment in India against the backdrop of a significant investment decline over the past decade. We analyze the potential causes of weaker investment at the firm level, using both firm-level financial statements and a novel dataset on firms’ investment project decisions, and find that financial frictions have played a role in the slowdown. Firms with higher financial leverage invest less, as do firms with lower earnings relative to their interest expenses. Consistent with the notion of credit constraints leading to pro-cyclical investment, we also find that firms with higher leverage are (i) less likely to undertake new investment projects, (ii) less likely to complete investment projects once begun, and (iii) undertake shorter-term investment projects.
Keywords:
WP; firm; investment; investment rate; financial leverage; Corporate Leverage; India; investment project; Project length; firm investment; investment expenditure; investment decision; investment slowdown; Stocks; Exports; Capital adequacy requirements; Financial frictions; Private investment; Global
Cover Policy Papers
Heavily Indebted Poor Countries Initiative and Multilateral Debt Relief Initiative - Statistical Update
International Monetary Fund
The HIPC Initiative and MDRI are nearly complete with 35 countries having already reached the completion point under the HIPC Initiative. One country, Chad, remains in the interim phase. Debt relief under the Initiatives has substantially alleviated debt burdens in recipient countries and has enabled them to increase their poverty-reducing expenditure by two and a half percentage points between 2001 and 2013. Creditor participation in the Initiative has been strong amongst the multilateral and Paris Club creditors; however participation from the other creditor groups still needs to be strengthened. The total cost of debt relief to creditors under the HIPC Initiative is currently estimated to be US$75.0 billion, while the costs to the four multilateral creditors providing relief under the MDRI is estimated to be US$41.1 billion in end-2013 present value terms.
Keywords:
PP; country; IMF HIPC Initiative; Point HIPCs; HIPC Initiative; completion point; millions of U.S. dollars; debt service projection; HIPC debt relief; HIPC country document; IMF MDRI assistance; country document; IMF JSAN; PV terms; MDRI assistance; Debt relief; Debt service; Exports; Stocks; Arrears; Africa; West Africa
Cover IMF Staff Country Reports
France: Selected Issues
International Monetary Fund. European Dept.
This Selected Issues paper reviews business investment patterns in France during the crisis. The main motivation is to explore whether investment has recently evolved in line with established determinants or displayed somewhat unconventional dynamics. This paper addresses three distinct questions. First, has recent investment behavior essentially been consistent with past trends or is there any discernible structural break as a result of the crisis. Second, what drove the contraction in investment during the crisis. Third, what is the investment outlook and can a swift and strong rebound going forward be expected. The paper presents main results and the outlook for investment.
Keywords:
ISCR; CR; France; export; investment; value; business investment; support investment activity; investment plan; equity ratio; investment outlook; investment growth; investment outlay; investment behavior; gross export; Exports; Private investment; Export performance; Capacity utilization; Imports; Global
Cover IMF Working Papers
Safe-Haven Korea? - Spillover Effects from UMPs
Mr. Jack J Ree
and
Seoeun Choi
We examine how Korea’s capital flows and trade have been affected by the quantitative easing (QE) of the United States and the quantitative and qualitative easing (QQME) of Japan. Korea is an intriguing case due to its borderline position between advanced and emerging market country groups, and the common perception that Korea competes fiercely with Japan in the world market for trade. We find that QE had little direct impact on capital flows to Korea, and tapering is unlikely to cause capital outflows from it owing to partial safe-haven behavior of capital flows to Korea. We also find that the exchange rate spillover from QQME to Korea has been limited both on trade and capital flow fronts.
Keywords:
WP; value chain; capital flow; yield curve; Unconventional monetary policy; spillover; trade; Korea's gain Japan's loss; safe-haven Korea; market share gain; Foreign Value-Added; QE exit; Korea's export; world market share; Capital flows; Bonds; Unconventional monetary policies; Exchange rates; Exports; Global; Asia and Pacific
Cover Policy Papers
Heavily Indebted Poor Countries Initiative and Multilateral Debt Relief Initiative - Statistical Update
International Monetary Fund
This report provides an update on the status of implementation of the HIPC Initiative and the MDRI over the past year. Given that most HIPCs have reached the completion point, in November 2011, the IMF and IDA Boards2 endorsed staff’s proposal to further streamline reporting of progress under the HIPC Initiative and MDRI. It was agreed that the annual HIPC Initiative/MDRI status of implementation report will be discontinued, while the core information—on debt service and poverty reducing expenditure, the cost of debt relief, creditor participation rates, and litigation against HIPCs—should continue to be made available and updated regularly on the IMF and World Bank websites.
Keywords:
PP; IMF HIPC Initiative; MDRI-type; dollar; Point HIPCs; enhanced HIPC Initiative; MDRI assistance; completion point; millions of U.S. dollars; IMF MDRI assistance; MDRI status; IMF MDRI assistance to Cambodia; Debt relief; Debt service; Exports; Stocks; Poverty reduction; Africa; West Africa
Cover IMF Staff Country Reports
German-Central European Supply Chain-Cluster Report: Staff Report, First Background Note, Second Background Note, Third Background Note
International Monetary Fund. European Dept.
This paper discusses key findings of the Cluster Report on German-Central European Supply Chain (GCESC). Since the 1990s, a GCESC has evolved, manufacturing goods for export to the rest of the world. Reflecting this, bilateral trade linkages between Germany and the Czech Republic, Hungary, Poland, and the Slovak Republic (CE4) have expanded rapidly. Participation in the GCESC has led to technology transfers to CE4 countries and accelerated income convergence. Export growth in knowledge-intensive sectors has been particularly rapid in the CE4. It is also observed that complementarities between supply chain activities and domestic production have led to greater synchronization of the business cycle among GCESC countries.
Keywords:
ISCR; CR; GDP; CE4 FDI; Germany; CE4 Countries Based; banking; trade linkage; stock position; exports to Germany; FDI stock; aggregate demand demand shock; safe haven status; Exports; Foreign direct investment; Financial statements; Spillovers; Stocks; Global; Asia and Pacific; Europe
Cover IMF Staff Country Reports
Japan: Spillover Report for the 2011 Article IV Consultation and Selected Issues
International Monetary Fund
Japan’s position is one of the largest and richest economies in the world. Tokyo as a financial marketplace is not a major intermediator of global capital flows. The current macroeconomic environment is conducive to spillovers being larger than captured by the empirical analysis. Apart from heading off tail risks, fiscal consolidation in Japan would have medium to long-term benefits for its partner countries. Exchange rate-related spillovers on foreign financial markets are found to be small and depend partly on policy developments abroad.
Keywords:
ISCR; CR; Japan; interest rate; carry trade; exchange rate; financial market; trade surplus; banking system; real GDP; spillover issue; Exports; Fiscal consolidation; Spillovers; Stocks; Yield curve; Global; Asia and Pacific; Europe
Cover IMF Working Papers
The External Impact of China'S Exchange Rate Policy: Evidence From Firm Level Data
Mr. Barry J. Eichengreen
and
Mr. Hui Tong
We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of changes in China’s exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns rise with renminbi revaluation expectations. This reaction appears to reflect a combination of improvements in general market sentiment and specific trade effects. Expected renminbi appreciation has a positive effect on firms exporting to China but a negative impact on those providing inputs for the country’s processing exports. Stock prices rise for firms competing with China in their home market but fall for firms importing Chinese products with large imported-input content. There is also some evidence that expected renminbi appreciation reduces the valuation of financially-constrained firms, presumably because appreciation implies reduced Chinese purchases of foreign securities. The results carry over when we consider ten instances of market-perceived changes in prospective Chinese currency policy.
Keywords:
WP; firm; China; exports to China; exchange rate; external impact; stock market; China's processing; renminbi appreciation; processing export; imports from China; market beta; Exports; Imports; Currencies; Stocks; Exchange rates; Global
Cover IMF Staff Country Reports
Suriname: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
IMF staff estimate; Surinam rice operation; burger Luchtvaart Autoriteit Suriname; Tennis bond; Sur. zwembond; unit value; Suriname authorities; Public sector; Agroindustries; Exports; Stocks; Western Hemisphere