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Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? »

Source: Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Volume/Issue: 2015/159

Series: IMF Working Papers

Author(s): Olivier Blanchard , Gustavo Adler , and Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2015

ISBN: 9781513585840

Keywords: exchange rate, gross capital flows, exchange, market, General,

Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these...

CHAPTER 12 Bedfellows, Hostages, or Perfect Strangers? Global Capital Markets and the Catalytic Effect of IMF Crisis Lending

CHAPTER 12 Bedfellows, Hostages, or Perfect Strangers? Global Capital Markets and the Catalytic Effect of IMF Crisis Lending »

Source: IMF-Supported Programs : Recent Staff Research

Series: Seminar Volumes

Author(s): Alessandro Rebucci , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2006

ISBN: 9781589063617

Keywords: International Monetary Fund, current account, capital flows, private capital, private capital flows, conditionality

Introduction Ever since Walter Bagehot’s times, it has been recognized that emergency liquidity support, to be effective, must in principle be unlimited. Of course, the precept shoul...

Chapter 15. Kosovo: Watching the Global Crisis from the Sidelines

Chapter 15. Kosovo: Watching the Global Crisis from the Sidelines »

Source: How Emerging Europe Came Through the 2008/09 Crisis : An Account by the Staff of the IMF's European Department

Series: Books

Author(s): Bas Bakker , and Christoph Klingen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 2012

ISBN: 9781616353810

Keywords: capital inflows, public finances, fiscal policy, public debt, capital adequacy

Kosovo’s financial and economic integration with the global economy is limited. Since the end of the Kosovo war in 1999, the emphasis has been on rebuilding the coun...

Characterizing Global Investors' Risk Appetite for Emerging Market Debt During Financial Crises

Characterizing Global Investors' Risk Appetite for Emerging Market Debt During Financial Crises »

Source: Characterizing Global Investors' Risk Appetite for Emerging Market Debt During Financial Crises

Volume/Issue: 2003/251

Series: IMF Working Papers

Author(s): Brenda Gonzalez-Hermosillo , Vance Martin , Mardi Dungey , and Renee Fry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

ISBN: 9781451875928

Keywords: Risk Aversion, SVAR, bond, bond spreads, statistics, financial markets, Multiple or Simultaneous Equation Models: Models with Panel Data, Financial Markets and the Macroeconomy, International Lending and Debt Problems,

The effects of unanticipated movements in global risk on nine emerging bond markets are investigated. The components of global risk are volatility, credit, and liquidity risks. Country and contagion risks are also...

The Distributional Bias of Public Education

The Distributional Bias of Public Education »

Source: The Distributional Bias of Public Education : Causes and Consequences

Volume/Issue: 2004/214

Series: IMF Working Papers

Author(s): Mark Gradstein , and Era Dabla-Norris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451875027

Keywords: Public education, incidence bias, inequality, education spending, income inequality, private education, Publicly Provided Private Goods, Macroeconomic Analyses of Economic Development,

While public education is often intended to be progressive in its effects on income distribution, in reality its incidence is often skewed toward the rich. This paper argues that the extent of this bias is directly...

17 Does Corruption Affect Income Inequality and Poverty?

17 Does Corruption Affect Income Inequality and Poverty? »

Source: Governance, Corruption, and Economic Performance

Series: Books

Author(s): Sanjeev Gupta , and George Abed

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2002

ISBN: 9781589061163

Keywords: decentralization, military spending, military, tax revenue, government expenditure

1. Introduction Government officials may use their authority for private gain in designing and implementing public policies. This phenomenon—defined broadly as corruption (Tanzi, 199...

The End of An Era? the Medium- and Long-Term Effects of the Global Crisison Growth in Low-Income Countries1

The End of An Era? the Medium- and Long-Term Effects of the Global Crisison Growth in Low-Income Countries1 »

Source: The End of An Era? the Medium- and Long-Term Effects of the Global Crisison Growth in Low-Income Countries

Volume/Issue: 2010/205

Series: IMF Working Papers

Author(s): Chris Papageorgiou , Andrew Berg , Catherine Pattillo , and Nicola Spatafora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455205363

Keywords: Global financial crisis, low-income countries, medium- and long-term growth, impulse response functions, growth spells, panel growth regressions, terms of trade, pre-crisis, post-crisis growth, exchange rate regime

This paper investigates the medium- and long-term growth effects of the global financial crises on Low-Income Countries (LICs). Using several methodological approaches, including impulse response function analysis,...

External Adjustment and the Global Crisis

External Adjustment and the Global Crisis »

Source: External Adjustment and the Global Crisis

Volume/Issue: 2011/197

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Philip Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2011

ISBN: 9781462304240

Keywords: Global crisis, exchange rate regime, current account balances, current account adjustment, current account balance, current account deficits,

After widening substantially in the period preceding the global financial crisis, current account imbalances across the world have contracted to a significant extent. This paper analyzes the factors underlying this...

Financial Globalization and Fiscal Perfomance in Emerging Markets

Financial Globalization and Fiscal Perfomance in Emerging Markets »

Source: Financial Globalization and Fiscal Perfomance in Emerging Markets

Volume/Issue: 2005/212

Series: IMF Working Papers

Author(s): David Hauner , and Manmohan Kumar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451862317

Keywords: interest rate spreads, external debt, fiscal transparency, debt service, fiscal impact, National Government Expenditures And Related Policies,

In recent years financial globalization and benign global market conditions have helped emerging markets in their external financing and budgetary positions. This paper examines three related issues: (i) the import...

The Global Financial Crisis - Explaining Cross-Country Differences in the Output Impact

The Global Financial Crisis - Explaining Cross-Country Differences in the Output Impact »

Source: The Global Financial Crisis - Explaining Cross-Country Differences in the Output Impact

Volume/Issue: 2009/280

Series: IMF Working Papers

Author(s): R. Gelos , Robert Rennhack , James Walsh , and Pelin Berkmen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874259

Keywords: Global crisis, transmission of shocks, cross-country linkages, current account balance, exchange rate, exchange rates,

We provide one of the first attempts at explaining the differences in the crisis impact across developing countries and emerging markets. Using cross-country regressions to explain the factors driving growth foreca...