Abstract
IMF research summaries on governance of banks (by Luc Laeven) and on whether there is a foreign aid paradox (by Thierry Tressel); country study on Mozambique (by Jean A.P. Clément and Shanaka J. Peiris); listing of visiting scholars at the IMF during July 2007-January 2008; listing of contents of Vol. 54, Issue No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a call for papers for the upcoming Conference on International Finance.
No. 07/79
The Effect of Capital Controls on Foreign Direct Investment Decisions Under Country Risk with Intangible Assets
Elo, Kinga Z.
No. 07/80
Catch-Up Growth, Habits, Oil Depletion, and Fiscal Policy: Lessons from the Republic of Congo
Carcillo, Stephane; Leigh, Daniel; Villafuerte, Mauricio
No. 07/81
A Theory of “Crying Wolf”: The Economics of Money Laundering Enforcement
Takáts, Elöd
No. 07/82
Banking Supervision: Quality and Governance
Arnone, Marco; Darbar, Salim M.; Gambini, Alessandro
No. 07/83
Land Distribution and Financial System Development
Vollrath, Dietrich; Erickson, Lennart
No. 07/84
Balance of Payments Crises Under Inflation Targeting
Kumhof, Michael; Li, Shujing; Yan, Isabel K.
No. 07/85
Financial Market Implications of India’s Pension Reform
Poirson, Hélène
No. 07/86
Guyana: Why Has Growth Stopped? An Empirical Study on the Stagnation of Economic Growth
Staritz, Cornelia; Gold, Judith; Atoyan, Ruben
No. 07/87
Concept of Offshore Financial Centers: In Search of an Operational Definition
Zoromé, Ahmed
No. 07/88
Central Bank Autonomy: Lessons from Global Trends
Arnone, Marco; Laurens, Bernard; Segalotto, Jean-Francois; Sommer, Martin
No. 07/89
Financial Market Risk and U.S. Money Demand
Choi, Woon Gyu; Cook, David
No. 07/90
In Search of Equilibrium: Estimating Equilibrium Real Exchange Rates in Sub-Saharan African Countries
Chudik, Alexander; Mongardini, Joannes
No. 07/91
Dynamic Incentives and the Optimal Delegation of Political Power
Eggertsson, Gauti B.; Le Borgne, Eric
No. 07/92
Trade Policy with Heterogeneous Traders: Do Quotas Get a Bum Rap?
Krishna, Kala; Tan, Ling Hui
No. 07/93
Government Size and Intersectoral Income Fluctuation: An International Panel Analysis
Kim, Daehaeng; Lee, Chul-In
No. 07/94
Trade Adjustment and Human Capital Investment: Evidence from Indian Tariff Reform
Edmonds, Eric V.; Pavcnik, Nina; Topalova, Petia
No. 07/95
Implications of More Precise Information for Technological Development and Welfare
Drees, Burkhard; Eckwert, Bernhard
No. 07/96
Looking Beyond the Fiscal: Do Oil Funds Bring Macroeconomic Stability?
Shabsigh, Ghiath; Ilahi, Nadeem
No. 07/97
The Dynamics of Product Quality and International Competitiveness
Igan, Deniz; Fabrizio, Stefania; Mody, Ashoka
No. 07/98
Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe: A Note
Muñoz, Sónia
No. 07/99
Lessons from High Inflation Episodes for Stabilizing the Economy in Zimbabwe
Coorey, Sharmini; Clausen, Jens R.; Funke, Norbert; Ould-Abdallah, Bakar; Muñoz, Sónia
No. 07/100
Health Aid and Infant Mortality
Mishra, Prachi; Newhouse, David Locke
No. 07/101
Interest Rate Spreads in English-Speaking African Countries
Crowley, Joe
No. 07/102
Diagnosing Dutch Disease: Does Russia Have the Symptoms?
Oomes, Nienke; Kalcheva, Katerina
No. 07/103
Jordan’s International Reserve Position: Justifiably Strong
Chami, Saade; McGettigan, Donal; Watt, Stanley
No. 07/104
Unconditional IMF Financial Support and Investor Moral Hazard
Kim, Jun Il
No. 07/105
Wage Gaps and Development: Lessons from U.S. History
Mourmouras, Alex; Rangazas, Peter
No. 07/106
Tax Potential vs. Tax Effort: A Cross-Country Analysis of Armenia’s Stubbornly Low Tax Collection
Davoodi, Hamid Reza; Grigorian, David A.
No. 07/107
Old Curses, New Approaches? Fiscal Benchmarks for Oil-Producing Countries in Sub-Saharan Africa
Olters, Jan-Peter
No. 07/108
Pension Reform and Macroeconomic Stability in Latin America
Roldos, Jorge
No. 07/109
Pension Reform in China: The Need for a New Approach
Dunaway, Steven Vincent; Arora, Vivek B.
No. 07/110
Oil Shocks and External Balances
Kilian, Lutz; Rebucci, Alessandro; Spatafora, Nikola
No. 07/111
Global Imbalances and Financial Stability
Xafa, Miranda
No. 07/112
Informality and Regulations: What Drives Firm Growth?
Dabla-Norris, Era; Inchauste, Gabriela
No. 07/113
Exchange Rate Fluctuations and Output in Oil-Producing Countries: The Case of Iran
Bahmani-Oskooee, Mohsen; Kandil, Magda E.
No. 07/114
Output Volatility and Large Output Drops in Emerging Market and Developing Countries
Hakura, Dalia
No. 07/115
Macroeconomic and Financial Soundness Indicators: An Empirical Investigation
Babihuga, Rita
No. 07/116
The Convergence Dynamics of a Transition Economy: The Case of the Czech Republic
Bruha, Jan; Podpiera, Jiri; Polak, Stanislav
No. 07/117
The Economics of Islamic Finance and Securitization
Jobst, Andreas
No. 07/118
Private-Sector Financial Liabilities in Advanced Economies: Is More Better?
Tang, Man-Keung
No. 07/119
Money and Inflation in the Islamic Republic of Iran
Bonato, Leo
No. 07/120
Labor’s Liquidity Service and Firing Costs
Bennett, Herman Z.
No. 07/121
Do Unit Value Export, Import, and Terms of Trade Indices Represent or Misrepresent Price Indices?
Silver, Mick
No. 07/122
Coping with Spain’s Aging: Retirement Rules and Incentives
Catalán, Mario; Guajardo, Jaime; Hoffmaister, Alexander W.
No. 07/123
Monetary Policy Transparency and Financial Market Forecasts in South Africa
Arora, Vivek B.
No. 07/124
Public Investment and Growth in the Eastern Caribbean
Roache, Shaun K.
No. 07/125
Financial Sector Reforms and Prospects for Financial Integration in Maghreb Countries
Tahari, Amor; Brenner, Patricia D.; De Vrijer, J.E.J.; Moretti, Marina; Senhadji Semlali, A.; Sensenbrenner, Gabriel; Sole, Juan
No. 07/126
Impact on Intra-European Trade Agreements, 1990–2005: Policy Implications for the Western Balkans and Ukraine
Herderschee, Han; Qiao, Zhaogang
No. 07/127
The Role of Domestic Debt Markets in Economic Growth: An Empirical Investigation for Low-Income Countries and Emerging Markets
Abbas, S.M. Ali; Christensen, Jakob
No. 07/128
The Ties that Bind: Measuring International Bond Spillovers Using the Inflation-Indexed Bond Yields
Bayoumi, Tamim; Swiston, Andrew
No. 07/129
France in the Global Economy: A Structural Approximate Dynamic Factor Model Analysis
Kabundi, Alain N.; Nadal-De Simone, Francisco
No. 07/130
Asia Rising: A Sectoral Perspective
Jaumotte, Florence; Spatafora, Nikola
No. 07/131
Budget Rigidity and Expenditure Efficiency in Slovenia
Mattina, Todd D.; Gunnarsson, Victoria
No. 07/132
Pooling Risk Among Countries
Imbs, Jean; Mauro, Paolo
No. 07/133
Modalities of Moving to Inflation Targeting in Armenia and Georgia
Dabla-Norris, Era; Kim, Daehaeng; Zermeno Livas, Mayra Rebecca; Billmeier, Andreas; Kramarenko, V.
No. 07/134
Bank Efficiency and Market Structure: What Determines Banking Spreads in Armenia?
Dabla-Norris, Era; Floerkemeier, Holger
No. 07/135
An Oil and Gas Model
Krichene, Noureddine
No. 07/136
Re-Accessing International Capital Markets after Financial Crises: Some Empirical Evidence
Zanforlin, L.
No. 07/137
Trade Reform in the CEMAC: Developments and Opportunities
Martijn, Jan Kees; Tsangarides, Charalambos G.
No. 07/138
International Financial Integration Through Equity Markets: Which Firms from Which Countries Go Global?
Claessens, Stijn; Schmukler, Sergio L.
No. 07/139
Relative Price Stability, Creditor Rights, and Financial Deepening
Dehesa, Mario; Druck, Pablo; Plekhanov, Alexander
No. 07/140
Complex Ownership Structures and Corporate Valuations
Laeven, Luc; Levine, Ross
No. 07/141
Testing for Cointegration Using the Johansen Methodology when Variables are Near-Integrated
Hjalmarsson, Erik; Osterholm, Par
No. 07/142
VAT Attacks!
Keen, Michael
No. 07/143
U.S. Revenue Surprises: Are Happy Days Here to Stay?
Swiston, Andrew; Muhleisen, Martin; Mathai, Koshy
No. 07/144
Europe and Global Imbalances
Lane, Philip R.; Milesi-Ferretti, Gian Maria
No. 07/145
Measuring the Effect of Foreign Aid on Growth and Poverty Reduction or The Pitfalls of Interaction Variables
Pattillo, Catherine A.; Polak, J. J.; Roy, Joydeep
No. 07/146
Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Merchantilism
Durdu, Ceyhun Bora; Mendoza, Enrique G.; Terrones, Marco
No. 07/147
Public Debt Markets in Central America, Panama, and the Dominican Republic
Shah, Hemant; Jobst, Andreas; Valderrama, Laura; Guerra, Ivan
No. 07/148
Persistent Gaps, Volatility Types, and Default Traps
Catão, Luis; Fostel, Ana; Kapur, Sandeep
No. 07/149
IPO Behavior in GCC Countries: Goody-Two Shoes or Bad-to-the-Bone?
Al-Hassan, Abdullah; Omran, Mohammed; Delgado-Fernández, Fernando-Luciano
IMF Working Papers and other IMF publications can be downloaded in full-text format from the “Research at the IMF” website at http://www.imf.org/research.