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IMF staff papers

Robert Flood

Editor and Committee Chair

Eswar S. Prasad

Co-Editor

Sean M. Culhane

Assistant Editor

Nicolas Magud

Research Assistant

Rosalind Oliver

Administrative Coordinator

Editorial Committee

Tito Cordelia

Enrica Detragiache

Atish R. Ghosh

Olivier Jeanne

Michael Keen

Andrei Kirilenko

Laura Kodres

Eduardo Ley

Donald J. Mathieson

Gian Maria Milesi-Ferretti

Miguel A. Savastano

Sunil Sharma

The objective of IMF Staff Papers is to publish high-quality research produced by IMF staff and invited guests on a variety of topics of interest to a broad audience including academics and policymakers in the member countries of the Fund. The papers selected for publication in the journal are subject to an extensive review process using both internal and external referees. IMF Staff Papers also welcomes outside comments, criticisms, and interesting replications of published work. The views presented in published papers are those of the authors and do not necessarily reflect the position of the Executive Board or of the IMF, or any other organization mentioned herein.

Subscription: US$72.00 a volume or the approximate equivalent in the currencies of most countries. Three issues constitute a volume. Single copies may be purchased at $25. Individual academic rate to full-time professors and students of universities and colleges: $46 a volume. Subscriptions and orders should be sent to:

International Monetary Fund

Publication Services

700 19th Street, N.W.

Washington, D.C. 20431, U.S.A.

Telephone: (202) 623-7430

Fax: (202) 623-7201

E-mail: publications@imf.org

Internet: http://www.imf.org

EDITOR’S NOTE

The Editor invites from contributors outside the IMF brief comments (not more than 1,000 words) on published articles in IMF Staff Papers. These comments should be addressed to the Editor, who will forward them to the author of the original article for reply. Both the comments and the reply will be considered for publication.

The data underlying articles published in IMF Staff Papers are available on the journal’s website (http://www.imf.org/staffpapers). Readers are invited to use these data to expand on the material in the articles, and the journal will consider publishing such work.

Front Matter Page

© 2004 by the International Monetary Fund

ISBN 1-58906-322-8

International Standard Serial Number: ISSN 1020-7635

This serial publication is catalogued as follows:

International Monetary Fund

IMF staff papers—International Monetary Fund. v. 1– Feb. 1950–[Washington] International Monetary Fund.

v. tables, diagrs. 26 cm.

Three no. a year, 1950–1977; four no. a year, 1978–

Indexes:

Vols. 1–27, 1950–80, 1 v.

ISSN 1020-7635 = IMF staff papers—International Monetary Fund.

1. Foreign exchange—Periodicals. 2. Commerce—Periodicals. 3. Currency question—Periodicals.

HG3810.15 332.082 53-35483

Contents

  • The Persistence of Corruption and Slow Economic Growth

  • Paolo Mauro

  • In Finance, Size Matters

  • Biagio Bossone and Jong-Kun Lee

  • International Liquidity and the Role of the SDR in the International Monetary System

  • Peter B. Clark and Jacques J. Polak

  • What Happened to Asian Exports During the Crisis?

  • Rupa Duttagupta and Antonio Spilimbergo

  • Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi

  • Ephraim W. Chirwa and Montfort Mlachila

  • High Inflation and Real Wages

  • Benedikt Braumann

  • A Brazilian-Type Debt Crisis

  • Assaf Razin and Efraim Sadka

  • Special Section on Data Issues: Preface

  • Robert P. Flood

  • Export and Import Price Indices

  • Jemma Dridi and Kimberly Zieschang

  • Collapse
  • Expand