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Western Hemisphere > Belize

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • International Investment; Long-term Capital Movements x
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Cover IMF Working Papers
Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel
Mr. Tamon Asonuma
,
Mr. Marcos d Chamon
,
Aitor Erce
, and
Akira Sasahara
Sovereign debt restructurings are associated with declines in GDP, investment, bank credit, and capital flows. The transmission channels and associated output and banking sector costs depend on whether the restructuring takes place preemptively, without missing payments to creditors, or whether it takes place after a default has occurred. Post-default restructurings are associated with larger declines in bank credit, an increase in lending interest rates, and a higher likelihood of triggering a banking crisis than pre-emptive restructurings. Our local projection estimates show large declines in GDP, investment, and credit amplified by severe sudden stops and transmitted through a “capital inflow-credit channel”.
Keywords:
WP; net capital; growth rate; banking sector; Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; GDP Growth; Investment; Banking Crisis; Local Projection; debt restructuring; net capital capital inflow; default restructuring; inflows-to-GDP ratio; Debt restructuring; Capital inflows; Sudden stops; Banking crises; Credit; Global
Cover Departmental Papers
The Caribbean: Enhancing Economic Integration
Mr. Sanjaya P Panth
,
Mr. Paul Cashin
, and
Mr. W. A Bauer
The Caribbean has made substantial progress in recent years in implementing economic reforms, both at the national and regional level. The Caribbean: Enhancing Economic Integration examines the product of the efforts made by Caribbean policymakers to strengthen regional cooperation and integration, which has yielded economic transformation and tighter integration with the global economy. This volume discusses regional financial integration as a means of deepening financial systems and raising regional growth; the relationship between tax incentives and investment, where harmonized regional action is important in seeking to overcome collective actions problems; and the consequences for the Caribbean of the erosion of trade preferences in key export markets. The book is based on empirical research carried out as part of the IMF's regional surveillance work in the Caribbean.
Keywords:
DPPP; DP; tax incentive; gross domestic product; income tax; country authorities; indirect tax; cost of capital; market price; free market; Agricultural commodities; Tax incentives; Foreign direct investment; Exports; Corporate income tax; Caribbean; Global; Central America; South America; West Africa; single market; tax rate; capital market