Front Matter Page

IMF staff papers

Robert Flood

Editor and Committee Chair

Ayhan Kose

Co-Editor

David Einhorn

Assistant Editor

Editorial Committee

Eduardo Borensztein

Tito Cordella

Giovanni Dell’Ariccia

Enrica Detragiache

Atish R. Ghosh

Olivier Jeanne

Andrei Kirilenko

Laura Kodres

Prakash Loungani

Donald J. Mathieson

Gian Maria Milesi-Ferretti

Chris Papageorgiou

Jorge Roldos

Antonio Spilimbergo

The objective of IMF Staff Papers is to publish high-quality research on a variety of topics of interest to a broad audience including academics and policymakers in the member countries of the Fund. IMF Staff Papers is open to outside submissions. 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 should not be attributed to or reported as reflecting the position of the IMF, its Executive Board, or any other organization mentioned herein.

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Telephone: (202) 623-7430

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E-mail: publications@imf.org

Internet: www.palgrave-journals.com/imfsp

Front Matter Page

Volume 57 Number 2

IMF staff papers

2010

Editor’s Note

Dear Readers,

As you are aware, this is the final issue of IMF Staff Papers. I wanted to take this opportunity to thank the hundreds of colleagues who, over the past 60 years, have provided valuable input to our journal as authors, reviewers, members of our editorial board, or in other ways. I also want to thank the thousands of subscribers (individuals and institutions) worldwide who have enabled us to publish IMFSP all these years. While it is never easy to close a long-running project like IMFSP, an innovative new publication (IMF Economic Review) is being launched later this year, which I believe will excite contributors and subscribers alike. IMF Economic Review will offer a wider array of top authors from the best institutions worldwide; more current, topical, and cutting-edge research on international macroeconomic and financial issues; and it will be available in both electronic and print media options for both academic and practitioner audiences.

Robert Flood

Editor and Committee Chair

IMF Staff Papers

© 2010 by the International Monetary Fund

ISBN 978-1-58906-912-1

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

• A New Database of Financial Reforms

  • Abdul Abiad, Enrica Detragiache and Thierry Tressel

Contents

• Emerging Market Business Cycles with Remittance Fluctuations

  • Ceyhun Bora Durdu and Serdar Sayan

Contents

• Structural Reforms, Financial Liberalization, and Foreign Direct Investment

  • Nauro F. Campos and Yuko Kinoshita

• The Ties that Bind: Measuring International Bond Spillovers Using Inflation-Indexed Bond Yields

  • Tamim Bayoumi and Andrew Swiston

• A Bayesian-Estimated Model of Inflation Targeting in South Africa

  • Thomas Harjes and Luca Antonio Ricci

Contents

• The Impact of Trade Liberalization on the Trade Balance in Developing Countries

  • Jiandong Ju, Yi Wu and Li Zeng

Contents

• Price Discovery in Markets with Multiple Dealers

  • RAFAEL ROMEU

• Determinants of International Bank Lending from the Developed World to East Asia

  • Reza Y. Siregar and Keen Meng Choy