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The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data1

The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data1 »

Source: The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data

Volume/Issue: 2018/83

Series: IMF Working Papers

Author(s): Davide Furceri , Prakash Loungani , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 April 2018

ISBN: 9781484350898

Keywords: Globalization, Inequality, Capital Account Openness, Crises, Institutions

We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flows-financial globalization. Both country- and industry-level results suggest that such policies ha...

Assessing the Fragility of Global Trade

Assessing the Fragility of Global Trade »

Source: Assessing the Fragility of Global Trade : The Impact of Localized Supply Shocks Using Network Analysis

Volume/Issue: 2017/30

Series: IMF Working Papers

Author(s): Yevgeniya Korniyenko , Magali Pinat , and Brian Dew

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

ISBN: 9781475578515

Keywords: External shocks, Imports, International trade, International trade, Spillovers, Supply, Manufactured goods, supply shocks, network analysis, Country and Industry Studies of Trade

Anecdotal evidence suggests the existence of specific choke points in the global trade network revealed especially after natural disasters (e.g. hard drive components and Thailand flooding, Japanese auto components...

Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis1

Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis1 »

Source: Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis

Volume/Issue: 2017/101

Series: IMF Working Papers

Author(s): Ashraf Khan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2017

ISBN: 9781475595802

Keywords: Financial crisis, Financial stability, Governance, Central banking, law, financial supervision, independence, autonomy, monetary policy, International Relations and International Political Economy: General

Drawing on the 2016 update of the IMF's Central Bank Legislation Database, this paper examines differences in central bank legal frameworks before and after the Global Financial Crisis. Examples from select countri...

The Distribution of Gains from Globalization

The Distribution of Gains from Globalization »

Source: The Distribution of Gains from Globalization

Volume/Issue: 2018/54

Series: IMF Working Papers

Author(s): Valentin Lang , and Marina Mendes Tavares

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 March 2018

ISBN: 9781484347065

Keywords: Globalization, Growth, Inequality, Globalization: Macroeconomic Impacts, Globalization: Economic Development

We study economic globalization as a multidimensional process and investigate its effect on incomes. In a panel of 147 countries during 1970-2014, we apply a new instrumental variable, exploiting globalization's ge...

Evolution of the Global Financial Network and Contagion: A New Approach1

Evolution of the Global Financial Network and Contagion: A New Approach1 »

Source: Evolution of the Global Financial Network and Contagion: A New Approach

Volume/Issue: 2018/113

Series: IMF Working Papers

Author(s): Yevgeniya Korniyenko , Manasa Patnam , Rita Maria del Rio-Chanon , and Mason Porter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 May 2018

ISBN: 9781484353240

Keywords: Spillovers, Financial contagion, International financial markets, network analysis, Neural Networks and Related Topics, International Lending and Debt Problems, International Policy Coordination and Transmission, Globalization: Finance

This paper studies the interconnectedness of the global financial system and its susceptibility to shocks. A novel multilayer network framework is applied to link debt and equity exposures across countries. Use of...

Fiscal Reforms, Long-term Growth and Income Inequality1

Fiscal Reforms, Long-term Growth and Income Inequality1 »

Source: Fiscal Reforms, Long-term Growth and Income Inequality

Volume/Issue: 2017/145

Series: IMF Working Papers

Author(s): Santiago Acosta Ormaechea , Takuji Komatsuzaki , and Carolina Correa-Caro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 June 2017

ISBN: 9781484303689

Keywords: Fiscal policy, Synthetic Control Method, Structural Reform, General, Comparative Studies of Countries

We estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method. These episodes are selected using an indicator-based approach applied to the evalu...

Global Debt Database: Methodology and Sources

Global Debt Database: Methodology and Sources »

Source: Global Debt Database: Methodology and Sources

Volume/Issue: 2018/111

Series: IMF Working Papers

Author(s): Samba Mbaye , Marialuz Moreno Badia , and Kyungla Chae

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 May 2018

ISBN: 9781484353592

Keywords: Public debt, historical debt, private debt, debt-to-GDP, debt database, General, General, International, or Comparative

This paper describes the compilation of the Global Debt Database (GDD), a cutting-edge dataset covering private and public debt for virtually the entire world (190 countries) dating back to the 1950s. The GDD is th...

Globalization and Corporate Taxation1

Globalization and Corporate Taxation1 »

Source: Globalization and Corporate Taxation

Volume/Issue: 2012/252

Series: IMF Working Papers

Author(s): Manmohan Kumar , and Dennis Quinn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 October 2012

ISBN: 9781557754752

Keywords: Corporate tax rates, Strategic behavior, taxation, tax policy, fiscal affairs, Open Economy Macroeconomics, International Relations and International Political Economy: Other, Business Taxes and Subsidies,

This paper analyzes the extent to which the degree of international economic integration, both financial and trade, affects corporate tax rates. It explores this issue in the context of strategic behavior by countr...

Globalization and the New Normal

Globalization and the New Normal »

Source: Globalization and the New Normal

Volume/Issue: 2018/75

Series: IMF Working Papers

Author(s): Alina Carare , Bertrand Candelon , Jean-Baptiste Hasse , and Jing Lu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 April 2018

ISBN: 9781484350645

Keywords: New Normal, Globalization, Financial crises, Banking crises, Output growth

This study expands the empirical specification of Cerra and Saxena (2008), and allows short-term output growth regimes to be determined by globalization. Relying on a non-linear dynamic panel representation, it rec...

Inequality, Gender Gaps and Economic Growth

Inequality, Gender Gaps and Economic Growth »

Source: Inequality, Gender Gaps and Economic Growth : Comparative Evidence for Sub-Saharan Africa

Volume/Issue: 2016/111

Series: IMF Working Papers

Author(s): Dalia Hakura , Mumtaz Hussain , Monique Newiak , Vimal Thakoor , and Fan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2016

ISBN: 9781484382349

Keywords: Income inequality, gender inequality, economic growth, and sub-Saharan Africa

A growing body of empirical evidence suggests that inequality-income or gender related-can impede economic growth. Using dynamic panel regressions and new time series data, this paper finds that both income and gen...