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Asia and Pacific > India

You are looking at 1 - 10 of 22 items for :

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  • Balance of trade x
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Cover IMF Working Papers
World Trade in Services: Evidence from A New Dataset
Mr. Prakash Loungani
,
Mr. Saurabh Mishra
,
Mr. Chris Papageorgiou
, and
Ke Wang
Using a newly constructed dataset on trade in services for 192 countries from 1970 to 2014, this paper shows that services currently constitute one-fourth of world trade and an increasingly important component of global production. A detailed analysis of patterns and stylized facts reveals that exports of services are not only gaining strong momentum and catching up with exports of goods in many countries, but they could also trigger a new wave of trade globalization. Research applications of the trade in service dataset on structural transformation, resilience, labor reallocation, and income distribution are outlined.
Keywords:
WP; export; service export; fce4d6; developing country; value; Trade in services; sector-level data; technology; globalization; economic growth; export growth; export service; goods export; export data; export value; global economy; Service exports; Exports; Export performance; Services sector; Global
Cover IMF Research Bulletin
Research Bulletin, June 2014
International Monetary Fund. Research Dept.
Articles in the June 2014 issue of the IMF Research Bulletin look at “The Rise and Fall of Current Account Deficits in the Euro Area Periphery and the Baltics” (Joong Shik Kang and Jay C. Shambaugh) and “The Two Sides of the Same Coin?: Rebalancing and Inclusive Growth in China” (Il Houng Lee, Murtaza Syed, and Xin Wang). The Q&A looks at “Seven Questions on the Monetary Transmission Mechanism in Low-Income Countries” (Andrew Berg, Luisa Charry, Rafael A. Portillo, and Jan Vleck). This issue of the Research Bulletin includes updated listings of IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore. Readers can also find information on free access to a featured article from “IMF Economic Review.”
Keywords:
IRB; IMF research bulletin; bulletin; journal website; policy relevance; author guideline; debt challenge; sample content; Current account deficits; Trade balance; Income inequality; Current account; Personal income; Global; Caribbean; Baltics; Sub-Saharan Africa
Cover IMF Working Papers
Emerging Economy Business Cycles: Financial Integration and Terms of Trade Shocks
Rudrani Bhattacharya
,
Ila Patnaik
, and
Madhavi Pundit
This paper analyses the extent to which financial integration impacts the manner in which terms of trade affect business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in an economy that faces trade shocks, business cycle volatility reduces. For an economy with limited financial openness, and a relatively open trade account, a model with exogenous terms of trade shocks is able to replicate the features of the business cycle.
Keywords:
WP; Macroeconomics; real business cycles; emerging market DSGE models; volatility; terms of trade; terms of trade shock; business cycle volatility; terms of trade fluctuation; terms of trade volatility; net barter terms of trade; volatility decrease; tot shock; current account volatility; a number of emerging economies; Financial integration; Trade balance; Business cycles; Current account; Africa; East Asia; Global
Cover IMF Working Papers
India's Growth Spillovers to South Asia
Ms. Iyabo Masha
and
Ding Ding
This study investigates the role of India's economy in explaining the observed growth in South Asia, taking into consideration other sources of growth endogenous to the countries in the region. Since a review of key variables indicates that India's bilateral trade and financial linkages with South Asian countries (SAC) are relatively weak, the paper analyses the spillover effects by focusing on growth more generally with India's growth as an explanatory variable. The results of the panel growth regressions suggest that India's growth has good explanatory power for growth in other SAC after 1995.
Keywords:
WP; India; trade; South Asian country; economy; growth spillover; Spillovers; growth linkages; regional integration; South Asia; aggregate FDI outflow; spillover impact; India's growth; transformation Europe; ASEAN-China Free Trade Area; China-ASEAN trade; trade restrictiveness; Exports; Imports; Foreign direct investment; Trade balance; Southern Africa; Africa; East Asia; Asia and Pacific
Cover IMF Working Papers
Trade and Trade Finance in the 2008-09 Financial Crisis
Mr. Thomas William Dorsey
,
Mika Saito
,
Mrs. Armine Khachatryan
,
Ms. Irena Asmundson
, and
Ioana Niculcea
Global merchandise trade sharply declined in late 2008 and early 2009, and some press and financial market reports assigned a large role for the decline to trade finance. However, the available evidence suggests that shocks to trade finance were not the major factor in the decline in trade. Surveys of commercial banks by the IMF and others found that while bank-intermediated trade finance fell in value during the crisis, it fell by less than merchandise trade. As a result, the share of world trade supported by bank-intermediated trade finance increased despite higher pricing margins. Other explanations appear to account for the bulk of the reduction in international trade.
Keywords:
WP; trade; bank; cost of funds; Merchandise trade; trade finance; lending guideline; Merchandise export; Merchandise trade Index; trade growth; trade transaction; Trade finance; Trade in goods; Export credits; Exports; Basel II; Global
Cover IMF Working Papers
Global Imbalances: The Role of Emerging Asia
Massimiliano Pisani
,
Pietro Cova
, and
Mr. Alessandro Rebucci
This paper investigates the role played by emerging Asia in the emergence and evolution of the global trade imbalances. Based on simulations in a general equilibrium model of the world economy, we find that a productivity slowdown in the non-tradable sector of these economies in the second half of the 1990s fits regional macroeconomic developments relatively well, but has limited spillover effect to the United States trade balance. In contrast, an increase in the desired level of emerging Asia net foreign assets starting in 2001 not only fits regional developments relatively well, but also has a significant spillover effect to the United States.
Keywords:
WP; Asia; exchange rate
Cover Exchange Rate Analysis in Support of IMF Surveillance
Exchange Rate Analysis in Support of IMF Surveillance
A Collection of Empirical Studies
Mr. Charalambos G Tsangarides
,
Mr. Carlo Cottarelli
,
Mr. Gian M Milesi-Ferretti
, and
Mr. Atish R. Ghosh

Abstract

Exchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a wide variety of exchange rate issues in various member countries, both small and large, from the least economically developed to the most advanced, and from those whose currencies circulate only locally to those whose currencies are of global importance. Each year, IMF staff produce dozens of studies on exchange rate issues, some published by the IMF, others in various professional journals or books. This book aims to give a flavor of the topics the IMF staff typically examine under the broad rubric of exchange rate analysis, encompassing several topics: determination and impact of the real exchange rate, assessing competitiveness and the equilibrium real exchange rate in specific countries or country groups, and considerations in the choice of exchange rate regime.

Keywords:
BOOK; determination; impact; II assessing Competitiveness; equilibrium real exchange rate; specific country; considerations in choice; choice of exchange rate regime; Real exchange rates; Exchange rate arrangements; Exchange rates; Real effective exchange rates; Exports; Global; Africa; Europe; Asia and Pacific; Central Africa; Trade balance; Caribbean
Cover IMF Staff Country Reports
Nepal: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Nepal
International Monetary Fund
Limited progress has been made in addressing Nepal’s structural weaknesses in tax administration and public financial management. Macroeconomic performance under the recent Poverty Reduction and Growth Facility (PRGF)-supported program has been stable. The outlook for 2007–08 remains stable. Although the macroeconomic performance has been stable, progress on structural reforms has been held back by the fragile political circumstances. Public enterprises and the Nepal Oil Corporation, in particular, pursue quasi-fiscal activities involving significant subsidies. Nepal’s growth prospects depend most importantly on a peaceful political transition.
Keywords:
ISCR; CR; net present value; Nepal; government; debt; GDP; real GDP; Nepalese authorities; growth prospect; government finances; credit growth; PRGF program; Budget planning and preparation; Trade balance; Inflation; Global
Cover IMF Working Papers
Changing Nature of North-South Linkages: Stylized Facts and Explanations
Miss Cigdem Akin
and
Mr. Ayhan Kose
This paper examines the changing nature of growth spillovers between developed economies, the North, and developing countries, the South, driven by the process of globalization?the phenomenon of rising international trade and financial flows. We use a comprehensive database of macroeconomic and sectoral variables for 106 countries over the period 1960- 2005. We consider the South to be composed of two groups of countries, the Emerging South and the Developing South, based on the extent of their integration into the global economy. Using a panel regression framework, we find that the impact of the Northern economic activity on the Emerging South has declined during the globalization period (1986-2005). In contrast, the growth linkages between the North and Developing South have been rather stable over time. Our findings also suggest that the Northern and Emerging Southern economies have started to exhibit more intensive intra-group growth spillovers.
Keywords:
WP; globalization period; Emerging South group; Emerging South economy; growth spillover
Cover Sub-Saharan Africa
Sub-Saharan Africa
Forging New Trade Links with Asia
Mr. Sanjeev Gupta
,
Mr. Kevin J Carey
, and
Mr. Ulrich Jacoby

Abstract

What is the impact on trade in sub-Saharan Africa of the recent rapid growth in China and other Asian countries, and the associated commodity price boom? This paper looks at how trading patterns (both destinations and composition) are changing in sub-Saharan Africa. Has the region managed to diversify the products it sells from commodities to manufactured goods? Has it expanded the range of countries to which it exports? And what about the import side? The time is ripe for sub-Saharan African countries to climb up the value chain of their commodity-based exports and/or achieve an export surge based on labor-intensive manufacturing.

Keywords:
ISI; SI; trade; Comtrade data; export; export share; nonfuel export; sub-Saharan Africa opportunity; data quality problem; Exports; Imports; Manufacturing; Gravity models; Trade balance; Sub-Saharan Africa; Asia and Pacific; Africa; Global; East Asia; sub-Saharan Africa's trading partners; export surge; Sub-Saharan Africa's share; exports to Asia; markets in sub-Saharan Africa