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Asia and Pacific > India

You are looking at 1 - 9 of 9 items for :

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Cover IMF Working Papers
House Prices and Macroprudential Policies: Evidence from City-level Data in India
This paper examines the efficacy of macroprudential policies in addressing housing prices in a developing country while underscoring the importance of fundamental factors. The estimated models using city-level data for India suggest a strong influence of fundamental factors in driving housing prices. There is compelling evidence of the effectiveness of macroprudential tools viz., Loan-to-value (LTV) ratio, risk weights, and provisioning requirements, in influencing housing price movements. A granular analysis suggests an even stronger impact on housing prices of a change in the regulatory LTV ratio for large-sized vis-à-vis small-sized mortgages, which buttresses their potency in fighting house price speculations. A tightening of the risk weights on the housing assets of banks causes significant downward pressure on house prices. Similarly, regulatory changes in standard asset provisioning on housing loans also influence house prices.
Keywords:
bank credit; macroprudential policies; WP; house price; LTV ratio; construction cost index; housing price; asset price; housing loan
Cover IMF Working Papers
How Should We Measure City Size? Theory and Evidence Within and Across Rich and Poor Countries
Remi Jedwab
,
Mr. Prakash Loungani
, and
Anthony Yezer
It is obvious that holding city population constant, differences in cities across the world are enormous. Urban giants in poor countries are not large using measures such as land area, interior space or value of output. These differences are easily reconciled mathematically as population is the product of land area, structure space per unit land (i.e., heights), and population per unit interior space (i.e., crowding). The first two are far larger in the cities of developed countries while the latter is larger for the cities of developing countries. In order to study sources of diversity among cities with similar population, we construct a version of the standard urban model (SUM) that yields the prediction that the elasticity of city size with respect to income could be similar within both developing countries and developed countries. However, differences in income and urban technology can explain the physical differences between the cities of developed countries and developing countries. Second, using a variety of newly merged data sets, the predictions of the SUM for similarities and differences of cities in developed and developing countries are tested. The findings suggest that population is a sufficient statistic to characterize city differences among cities within the same country, not across countries.
Keywords:
WP; per capita income; economic development; density function; low income; Urbanization; Cities; Urban Giants; Population; Standard Urban Model; Measurement; Urban Technology; Building Heights; Sprawl; Housing; Transportation; income elasticity; building height; Income; Wages; Housing prices; Global
Cover Regional Economic Outlook, April 2014, Asia and Pacific
Regional Economic Outlook, April 2014, Asia and Pacific
Sustaining the Momentum: Vigilance and Reforms
International Monetary Fund. Asia and Pacific Dept

Abstract

The five Regional Economic Outlooks published biannually by the IMF cover Asia and Pacific, Europe, the Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. In each volume, recent economic developments and prospects for the region are discussed as a whole, as well as for specific countries. The reports include key data for countries in the region. Each report focuses on policy developments that have affected economic performance in the region, and discusses key challenges faced by policymakers. The near-term outlook, key risks, and their related policy challenges are analyzed throughout the reports, and current issues are explored, such as when and how to withdraw public interventions in financial systems globally while maintaining a still-fragile economic recovery.These indispensable surveys are the product of comprehensive intradepartmental reviews of economic developments that draw primarily on information the IMF staff gathers through consultation with member countries.

Keywords:
REO; economy; price; IMF staff calculation; leverage ratio; trade integration; household debt; industry trade; house price; Housing prices; Credit; Capital flows; Inflation; Trade integration; Asia and Pacific; Global; Pacific Islands; Australia and New Zealand
Cover IMF Survey
Boletín del FMI Vol.37, No.4 abril de 2008
International Monetary Fund. External Relations Dept.
Reuniones de Primavera del FMI y el Banco Mundial, Los ministros resuelven contrarrestar el alza de los alimentos, La crisis crediticia se extiende, Perspectivas económicas, Comunicado del CMFI, Cuotas y representación, Nuevo modelo de ingresos del FMI, Prácticas óptimas de los fondos soberanos, Ciclos del sector de la vivienda, Auge de precios de las materias primas, Perspectivas económicas de África, Perspectivas económicas de Asia, Perspectivas económicas de América Latina, Notas breves
Keywords:
SV; commodity; price; economy; IMF Deputy managing director Takatoshi Kato; IMF's executive board
Cover IMF Survey
Bulletin du FMI vol. 37, n° 4, avril 2008
International Monetary Fund. External Relations Dept.
Réunions de printemps FMI–Banque mondiale, Soutenir la croissance et freiner la hausse des prix alimentaires, Selon le FMI, la crise du crédit s’étend, Perspectives mondiales, Communiqué du CMFI, Quotes-parts et représentation, FMI : nouveau modèle de revenu, Fonds souverains : pratiques optimales, Gérer les cycles de l’immobilier, Boom des produits de base, Perspectives africaines, Perspectives asiatiques, Perspectives latino-américaines, L’actualité en bref
Keywords:
SV; commodity; price; economy; IMF Deputy managing director Takatoshi Kato; IMF's executive board
Cover IMF Survey
IMF Survey, Volume 37, Issue 04
International Monetary Fund. External Relations Dept.
IMF-World Bank Spring Meetings, Ministers Resolve to Counter Slowdown, Combat Food Hikes, Credit Crisis is Broadening, World Economic Outlook, IMFC Communiqué, Quota and Voice Reform, IMF's New Income Model, Best Practices for Sovereign Funds, Managing Housing Sector Cycles, Commodity Price Boom, African Economic Outlook, Asian Economic Outlook, LATAM Economic Outlook, News Briefs.
Keywords:
SV; commodity; price; economy; IMF Deputy managing director Takatoshi Kato; IMF's executive board; IMF survey; commodity export; IMF reform process; Housing prices; Inflation; Housing; Commodity prices; Personal income; Global; Asia and Pacific; Sub-Saharan Africa; Africa; Middle East
Cover IMF Working Papers
India: Asset Prices and the Macroeconomy
Miss Catriona Purfield
This paper examines rising asset prices in India. For the most part, asset prices in India reflect structural factors but the risk of a correction cannot be ruled out. However, at this juncture monetary policy may not be the most effective tool to safeguard financial stability because (i) India's economy is undergoing rapid structural change making it difficult to identify price misalignments; (ii) the macroeconomic impact of an asset price correction is likely to be small; and (iii) the relationship between monetary policy and asset prices is also weak. Targeted changes in financial regulations are better tools to address potential risks.
Keywords:
WP; asset price; asset market; asset-price swing; asset price movement; per capita income
Cover Regional Economic Outlook, April 2007, Asia and Pacific
Regional Economic Outlook, April 2007, Asia and Pacific
International Monetary Fund. Asia and Pacific Dept

Abstract

The recent economic and financial developments and trends in Asia and the Pacific are examined in this latest REO, including issues related to Asia’s trade performance, notably in the high-tech sector, and the February-March bout of turbulence in the region’s financial markets. The near-term outlook, key risks, and their related policy challenges are analyzed throughout, as well as in special chapters that look more closely at the evolving nature of capital inflows, housing market developments, and the impact of commodity price booms on lower-income economies.

Keywords:
REO; price; investment inflow; investment; resource; portfolio investment; investment outflow; collection effort; price hike; Housing prices; Foreign direct investment; Capital flows; Portfolio investment; Housing; Asia and Pacific; Australia and New Zealand; Global
Cover Financial Soundness Indicators
Financial Soundness Indicators
Analytical Aspects and Country Practices
International Monetary Fund

Abstract

The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This paper looks at the development of measures of financial sector soundness and of methods to analyze them. The authors propose two sets of financial soundness indicators that are considered useful for periodic monitoring, and for compilation and dissemination efforts by national authorities. They highlight the substantial advance made in recent years in measuring and analyzing financial soundness indicators, and specify areas where more work is needed.

Keywords:
OP; ratio; market; asset; foreign currency; asset quality; market liquidity indicator; average equity; on-balance-sheet assets; Financial soundness indicators; Real estate prices; Loans; Stress testing; Capital adequacy requirements; Global; Europe; Africa; Middle East; Western Hemisphere; Credit risk