A Financial Conditions Index For South Africa
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A Financial Conditions Index For South Africa
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Author : Mr.Nombulelo Gumata
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01
A Financial Conditions Index For South Africa written by Mr.Nombulelo Gumata and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.
The main purpose of this paper is to construct a financial conditions index (FCI) for South Africa. The analysis extracts the index by applying two alternative approaches (principal component analysis and Kalman filter), which identify an unobservable common factor from a group of external and domestic financial indicators. The alternative estimated FCIs, which share a similar trajectory over time, seem to have a powerful predictive information for the near-term GDP growth (up to four quarters), and they outperform the South African Reserve Bank’s (SARB) leading indicator as well as individual financial variables. Their recent dynamics suggest that following a strong recovery in late-2009 and 2010, reflecting in part domestic factors such as systematic reductions in the policy rate, the rebound in real economic activity, and a benign inflationary environment, the financial conditions have deteriorated in recent months, though not as sharply as in end-2008. Given their relatively high predictive power regarding GDP growth, a further deterioration may imply that economic activity is likely to slow in the period ahead.
South Africa
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-11
South Africa written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-11 with Business & Economics categories.
This Selected Issues paper estimates the potential growth rate for South Africa using different methodologies. In line with existing studies and findings for other emerging markets, the paper finds that South Africa’s potential growth rate has declined in the post global financial crisis period. Though there is substantial uncertainty, South Africa’s potential growth is estimated to have fallen from an average of 3.5 to 4 percent during 2000–08 to 2.25 to 2.50 percent in 2010–14, implying that the output gap in 2014 would be between –0.5 and –1.3 percent of GDP.
Report On The Economic And Financial Conditions In South Africa
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Author : Great Britain. Department of Overseas Trade
language : en
Publisher:
Release Date : 1922
Report On The Economic And Financial Conditions In South Africa written by Great Britain. Department of Overseas Trade and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1922 with Finance categories.
Finance In Africa
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Author : European Investment Bank
language : en
Publisher: European Investment Bank
Release Date : 2023-10-11
Finance In Africa written by European Investment Bank and has been published by European Investment Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-11 with Business & Economics categories.
The Finance in Africa report emphasises the challenges faced by the African banking sector — including the impact of recent shocks, such as the COVID-19 crisis and Russia's invasion of Ukraine — and the importance of gender diversity in business and banking. The report also discusses the need for international support and sustainable finance to advance economic development and climate change in Africa. It provides insights into the financial conditions, banking sector performance, and investment trends in the region. It covers the nature of climate finance flows in Africa and the degree of climate risk on bank balance sheets. With the right measures in place, Africa has the potential to overcome its challenges and unlock its true economic potential.
A Financial Conditions Index For Greece
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Author : Mr.Jonathan F Manning
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-02
A Financial Conditions Index For Greece written by Mr.Jonathan F Manning and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-02 with Business & Economics categories.
We construct a Financial Conditions Index (FCI) for Greece as a surveillance tool to quantify the degree of the stress in the financial sector. We use principal component analysis to capture the information content of several financial indicators through a single index. We also construct an alternative FCI by purging the business cycle and monetary policy effects on the input variables, and argue that this alternative index is a better indicator of exogenous financial shocks, and thus could be interpreted as a measure of the efficacy of transmission mechanism. We replicate the index for the euro area (EA) as a whole and show that although the developments in the EA were qualitatively in line with those in Greece, they were quantitatively much milder. Our results confirm that monetary transmission was less effective in Greece compared to the EA as a whole. Finally, we argue that our index can be a potentially useful forecasting tool for credit growth.
A Financial Conditions Index For Poland
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Author : Giang Ho
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-19
A Financial Conditions Index For Poland written by Giang Ho and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-19 with Business & Economics categories.
This paper constructs a financial conditions index for Poland to explore the link between financial conditions and real economic activity. The index in constructed by applying two complementary approaches—factor analysis and vector auto-regression approach. We evaluate the index’s forecasting performance against a composite leading indicator developed by the OECD. We found that the FCI is highly correlated with GDP growth, attesting to the importance of financial sector in Poland’s economy. In-sample and out-of-sample forecasting exercises indicate that the FCI can outperform the CLI in predicting near-term GDP growth.
Financial Conditions In Europe Dynamics Drivers And Macroeconomic Implications
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Author : Giovanni Borraccia
language : en
Publisher: International Monetary Fund
Release Date : 2023-09-29
Financial Conditions In Europe Dynamics Drivers And Macroeconomic Implications written by Giovanni Borraccia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-29 with Business & Economics categories.
We develop a new measure of financial conditions (FCs) that targets the growth of financial liabilities using the partial least square methodology. We then estimate financial condition indexes (FCIs) across European economies, both at the aggregate and sectoral levels. We decompose the changes in FCs into several factors including credit availability and costs, price of risk, policy stance, and funding constraints. Our results show that FCs loosened during the pandemic thanks to policy support but started to tighten significantly since mid-2021. Using the inverse probability weighting method over the sample period from 2000 to 2023, we find that a shift from a neutral to a tight FCI regime such as the ongoing episode for most European countries will on average lower output and inflation by 2.2 percent and 0.7 percentage points respectively and increase unemployment by 0.3 percentage points over a three-year horizon.
The Global Findex Database 2017
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Author : Asli Demirguc-Kunt
language : en
Publisher: World Bank Publications
Release Date : 2018-04-19
The Global Findex Database 2017 written by Asli Demirguc-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-19 with Business & Economics categories.
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Mauritius
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-04-29
Mauritius written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-29 with Business & Economics categories.
This Selected Issues paper develops a Financial Conditions Index (FCI) for Mauritius—an instrument to gauge the operational state of the financial sector and predict real economy activity. The evolution of Mauritius’ financial services sector has been supported by a vibrant offshore corporate sector. Given the strong macro-financial linkages, it is imperative to closely monitor domestic financial developments. Financial developments are broader than monetary developments depicting money supply and interest rates. The FCI is a robust predictor of real GDP growth in Mauritius. The FCI can also help inform macroprudential policy decisions. Decisions on setting the countercyclical capital buffer of Basel III could be informed by analyzing developments in the FCI. As historically Mauritius has not experienced drastic swings in financial credit, testing the constructed FCIs for predicting boom-bust episodes is difficult. Nevertheless, the FCI signaled lax financial conditions in 2009 and again in 2012 that likely contributed to accelerated credit growth in 2012–2013 and a subsequent acceleration in nonperforming loans during 2014–2016.
South Africa 2012 Article Iv Consultation Staff Report Informational Annex Debt Sustainability Analysis Staff Statement Public Information Notice
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-23
South Africa 2012 Article Iv Consultation Staff Report Informational Annex Debt Sustainability Analysis Staff Statement Public Information Notice written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-23 with Business & Economics categories.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.