Abstract
The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.
March–May, 2002
Working Paper No. 02/61
Foreign Direct Investment in Africa: Some Case Studies
Basu, Anupam; Srinivasan, Krishna
Working Paper No. 02/62
Holding International Reserves in an Era of High Capital Mobility
Flood, Robert P.; Marion, Nancy P.
Working Paper No. 02/63
Dread of Depreciation: Measuring Real Exchange Rate Interventions
Dutta, Jayasri
Working Paper No. 02/64
What Moves Capital to Transition Economies?
Garibaldi, Pietro; Mora, Nada; Sahay, Ratna; Zettelmeyer, Jeromin
Working Paper No. 02/65
Reserve Requirements on Foreign Currency Deposits in Sub-Saharan Africa: Main Features and Policy Implications
Kovanen, Arto
Working Paper No. 02/66
The Boom, Bust, and Restructuring of Indonesian Banks
Pangestu, Mari; Habir, Manggi
Working Paper No. 02/67
Fiscal Revenues in South Mediterranean Arab Countries: Vulnerabilities and Growth Potential
Nashashibi, Karim
Working Paper No. 02/68
The Aging of the Population and the Size of the Welfare State
Razin, Assaf; Sadka, Efraim; Swagel, Phillip L.
Working Paper No. 02/69
External Debt and Growth
Pattillo, Catherine A.; Poirson, Helene K.; Ricci, Luca A.
Working Paper No. 02/70
You Say You Want A Revolution: Information Technology and Growth
Haacker, Markus; Morsink, James H.
Working Paper No. 02/71
The Costs and Benefits of Various Wage Bargaining Structures: An Empirical Exploration
Thomas, Alun H.
Working Paper No. 02/72
Is Policy Ownership an Operational Concept?
Boughton, James M.; Mourmouras, Alexandros T.
Working Paper No. 02/73
Vested Interests in a Positive Theory of IFI Conditionality
Mayer, Wolfgang; Mourmouras, Alexandros T.
Working Paper No. 02/74
International Contagion Effects from the Russian Crisis and the LTCM Near-Collapse
Dungey, Mardi; Fry, Renee; Gonzalez-Hermosillo, Brenda; Martin, Vance
Working Paper No. 02/75
Growing Up With Capital Flows
Mody, Ashoka; Murshid, Antu P.
Working Paper No. 02/76
Macroeconomic Management and the Devolution of Fiscal Powers
Drummond, Paulo F.; Mansoor, Ali M.
Working Paper No. 02/77
Expenditure Composition, Fiscal Adjustment, and Growth in Low-Income Countries
Gupta, Sanjeev; Clements, Benedict J.; Baldacci, Emanuele; Mulas-Granados, Carlos
Working Paper No. 02/78
Composition of Government Expenditures and Demand for Education in Developing Countries
Dabla-Norris, Era; Matovu, John M.
Working Paper No. 02/79
The Choice Between External and Domestic Debt in Financing Budget Deficits: The Case of Central and West African Countries
Beaugrand, Philippe; Loko, Boileau; Mlachila, Montfort P.
Working Paper No. 02/80
Monetary Policy Transmission Mechanisms and Inflation in Slovakia
Kuijs, Louis
Working Paper No. 02/81
Statistical Inference as a Bargaining Game
Ley, Eduardo
Working Paper No. 02/82
Do “Flexible” Exchange Rates of Developing Countries Behave Like the Floating Exchange Rates of Industrialized Countries?
Wickham, Peter
Working Paper No. 02/83
Family Attachment and the Decision to Move by Race
Spilimbergo, Antonio; Ubeda, Luis
Working Paper No. 02/84
Money, Meat, and Inflation: Using Price Data to Understand an Export Shock in Sudan
Ramcharan, Rodney
Working Paper No. 02/85
When Is Economic Growth Pro-Poor? Experiences in Malaysia and Pakistan
Khan, Mahmood H.
Working Paper No. 02/86
Determinants and Repercussions of the Composition of Capital Inflows
Carlson, Mark; Hernandez, Leonardo F.
Working Paper No. 02/87
Fiscal Policy and Economic Activity During Recessions in Advanced Economies
Hemming, Richard; Mahfouz, Selma; Schimmelpfennig, Axel
Working Paper No. 02/88
Caribbean Offshore Financial Centers: Past, Present, and Possibilities for the Future
Suss, Esther C.; Williams, Oral; Mendis, Chandima
Working Paper No. 02/89
Export Orientation and Productivity in Sub-Saharan Africa
Mengistae, Taye; Pattillo, Catherine A.
Working Paper No. 02/90
More on the Effectiveness of Public Spending on Health Care and Education: A Covariance Structure Model
Baldacci, Emanuele; Guin-Siu, Maria T.; Mello, Luiz de
Working Paper No. 02/91
Yield Spread as a Leading Indictor of Real Economic Activity: An Empirical Exercise on the Indian Economy
Kanagasabapathy, K.; Goyal, Rajan
Working Paper No. 02/92
Macroeconomic Adjustment in a Highly Dollarized Economy: The Case of Cambodia
de Zamaroczy, Mario; Sa, Sopanha
Working Paper No. 02/93
Escaping the Curse of Oil?: The Case of Gabon
Soderling, Ludvig
Working Paper No. 02/94
The Role of Internal Audit in Government Financial Management: An International Perspective
Diamond, Jack
Working Paper No. 02/95
Why Is It So Hard to Finance Budget Deficits?: Problems of a Developing Country
Feltenstein, Andrew; Iwata, Shigeru
Working Paper No. 02/96
The Estonian Currency Board: Its Introduction and Role in the Early Success of Estonia’s Transition to a Market Economy
Knobl, Adalbert; Sutt, Andres; Zavoico, Basil B.
Working Paper No. 02/97
An Interim Assessment of Ukrainian Output Developments, 2000–01
Berengaut, Julian; De Vrijer, Erik; Elborgh-Woytek, Katrin C.; Fisher, Diane E.; Lewis, Mark W.; Lissovolik, Bogdan
Working Paper No. 02/98
Extreme Contagion in Equity Markets
Chan-Lau, Jorge; Mathieson, Donald J.; Yao, James Y.
Working Paper No. 02/99
Calibrating Your Intuition: Capital Allocation for Market and Credit Risk
Kupiec, Paul H.
Working Paper No. 02/100
Financial Liberalization and Real Investment: Evidence from Turkish Firms
Sancak, Cemile
Working Paper No. 02/101
Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy
Chalk, Nigel A.
Working Paper No. 02/102
Establishing Initial Conditions in Support of Inflation Targeting
Carare, Alina; Schaechter, Andrea; Stone, Mark R.; Zelmer, Mark D.
Working Paper No. 02/103
The Challenge of Fiscal Decentralization in Transition Countries
Dabla-Norris, Era; Wade, Paul R.
Working Paper No. 02/104
Long-Run Determinants of Exchange Rate Regimes: A Simple Sensitivity Analysis
Juhn, Grace S.; Mauro, Paolo
Working Paper No. 02/105
The Micro Basis of Budget System Reform: The Case of Transitional Economies
Diamond, Jack
Working Paper No. 02/106
The Potential Role for Securitizing Public Sector Revenue Flows: An Application to the Phillipines
Chalk, Nigel A.
Working Paper No. 02/107
On the Origins of the Fleming-Mundell Model
Boughton, James M.
Working Paper No. 02/108
Experience with Budgetary Convergence in the WAEMU
Dore, Ousmane; Masson, Paul R.
Working Paper No. 02/109
Exchange Rate Pass-Through and Monetary Policy in Croatia
Billmeier, Andreas; Bonato, Leo
Working Paper No. 02/110
Suggestions for Alternative Budget Balances for South Africa
Jacobs, Davina F.
IMF Working Papers and other IMF publications can be downloaded in full-text format from the Research at the IMF website: http://www.imf.org/research.