IMF Staff Papers, Volume 57, No. 2
Title | IMF Staff Papers, Volume 57, No. 2 PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 244 |
Release | 2010-06-29 |
Genre | Business & Economics |
ISBN | 1589069129 |
This paper introduces a new database of financial reforms covering 91 economies over 1973-2005. It describes the content of the database, the information sources utilized, and the coding rules used to create an index of financial reform. It also compares the database with other measures of financial liberalization, provides descriptive statistics, and discusses some possible applications. The database provides a multifaceted measure of reform, covering seven aspects of financial sector policy. Along each dimension the database provides a graded (rather than a binary) score, and allows for reversals.
IMF Staff Papers, Volume 57, No. 1
Title | IMF Staff Papers, Volume 57, No. 1 PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 288 |
Release | 2010-03-26 |
Genre | Business & Economics |
ISBN | 1589069110 |
Do highly indebted countries suffer from a debt overhang? Can debt relief foster their growth rates? To answer these important questions, this article looks at how the debt-growth relation varies with indebtedness levels, as well as with the quality of policies and institutions, in a panel of developing countries. The main findings are that, in countries with good policies and institutions, there is evidence of debt overhang when the net present value of debt rises above 20–25 percent of GDP; however, debt becomes irrelevant above 70–80 percent. In countries with bad policies and institutions, thresholds appear to be lower, but the evidence of debt overhang is weaker and we cannot rule out that debt is always irrelevant. Indeed, in such countries, as well as in countries with high indebtedness levels, investment does not depend on debt levels. The analysis suggests that not all countries are likely to profit from debt relief, and thus that a one-size-fits-all debt relief approach might not be the most appropriate one.
IMF Staff papers
Title | IMF Staff papers PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 196 |
Release | 1986-01-01 |
Genre | Business & Economics |
ISBN | 1451946953 |
WILLIAM. white, who joined the International Monetary Fund in 1948, spent his entire professional life in the Research Department. Present and past staff members, many of whom benefited from his advice, have asked that his contribution-to the work of the Fund should receive recognition in Staff Papers. This appreciation draws on excerpts from written recollections of some of his colleagues.
Staff Papers (April 1960)
Title | Staff Papers (April 1960) PDF eBook |
Author | International Monetary Fund |
Publisher | |
Pages | |
Release | |
Genre | |
ISBN | 9781451949704 |
IMF Staff papers
Title | IMF Staff papers PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 217 |
Release | 1991-01-01 |
Genre | Business & Economics |
ISBN | 1451947070 |
The CMEA countries are starting to conduct their trade at world prices and in convertible currencies. These are crucial steps in economic reform but will worsen Eastern Europe’s terms of trade and drive it into current account deficit with the U.S.S.R. Proposals have been made for a payments union, resembling the European Payments Union of 1950–58, to ease the transition. Such an arrangement would not function well if it included the U.S.S.R., which would be a persistent creditor. Other ways must be found to deal with the transition.
IMF Staff Papers, Volume 53, No. 2
Title | IMF Staff Papers, Volume 53, No. 2 PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 166 |
Release | 2006-06-29 |
Genre | Business & Economics |
ISBN | 9781589065178 |
Noteworthy among the six papers appearing in this latest issue of the IMF's peer-reviewed journal is another installment in the Special Data Section. Anthony Pellechio and John Cady from the IMF's Statistics Department take a close look at differences in IMF data; how and when they could occur; and what the implications of such differences might be for end-users of the IMF's data.
IMF Staff papers
Title | IMF Staff papers PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 197 |
Release | 1993 |
Genre | Business & Economics |
ISBN | 1451947267 |
This paper discusses how three countries in Europe—Austria, Turkey, and Finland—emerged from a prolonged inflation, restored viable economies, and resumed economic growth in the 1950s. It also attempts to draw some conclusions based on their experience as well as the experience of some other countries. In mid-1949 the Austrian Government requested assistance from the IMF in the formulation of measures that could lead the economy out of the accelerating price-wage spiral. The key issue was to find a policy mix which would lessen the burden on the budget but would help to maintain full employment. Representatives of industry agreed to the stabilization program only after they were persuaded that it was only through the program that industries could hope to maintain the prosperity that they had enjoyed in the early post-war years. They also realized that it was only thus that they could be freed of detailed government regulations which had become onerous.