Global Shocks And Their Impacton Low Income Countries
DOWNLOAD
FREE 30 Days
Download Global Shocks And Their Impacton Low Income Countries PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Global Shocks And Their Impacton Low Income Countries book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Global Shocks And Their Impacton Low Income Countries
DOWNLOAD
FREE 30 Days
Author : Hans Weisfeld
language : en
Publisher: International Monetary Fund
Release Date : 2011-02-01
Global Shocks And Their Impacton Low Income Countries written by Hans Weisfeld 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 2011-02-01 with Business & Economics categories.
This paper investigates the short-run effects of the 2007-09 global financial crisis on growth in (mainly non-fuel exporting) low-income countries (LICs). Four conclusions stand out. First, for many individual LICs, 2009 was not extraordinarily calamitous; however, aggregate LIC output declined sharply because LICs were unusually synchronized. Second, the growth declines are on average well explained by the decline in export demand. Third, if the external environment facing LICs improves as forecast, their growth should rebound sharply. Finally, and contrary to received wisdom, there are few robust relationships between the cross-country growth variation and the policy and structural environment; the main exceptions are reserve coverage and labor-market flexibility.
Exogenous Shocks And Growth Crises In Low Income Countries
DOWNLOAD
FREE 30 Days
Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2012-11-02
Exogenous Shocks And Growth Crises In Low Income Countries written by Ms.Era Dabla-Norris 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 2012-11-02 with Business & Economics categories.
This paper develops a new index which provides early warning signals of a growth crisis in the event of large external shocks in low-income countries. Multivariate regression analysis and a univariate signaling approach are used to map information from a parsimonious set of underlying policy, structural, and institutional indicators into a composite vulnerability index. The results show that vulnerabilities to a growth crisis in low-income countries declined significantly from their peaks in the early 1990s, but have risen in recent years as fiscal policy buffers were expended in the wake of the global financial crisis.
Managing Global Growth Risks And Commodity Price Shocks
DOWNLOAD
FREE 30 Days
Author : Ms.Stefania Fabrizio
language : en
Publisher: International Monetary Fund
Release Date : 2012-07-10
Managing Global Growth Risks And Commodity Price Shocks written by Ms.Stefania Fabrizio 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 2012-07-10 with Business & Economics categories.
As part of its work to help low-income countries manage volatility, the IMF has developed an analytical framework for assessing vulnerabilities and emerging risks that arise from changes in the external environment. This paper draws on the results of the first vulnerability exercise for low-income countries conducted by the IMF staff using this new framework. It focuses on the risks of a downturn in global growth and of further global commodity price shocks and discusses related policy challenges. Chapters review recent macroeconomic developments, including the spike in global commodity prices in early 2012; assess current risks and vulnerabilities, including how a sharp downturn in global growth and further commodity price shocks would affect low-income countries; and discuss policy challenges in the face of these risks and vulnerabilities.
Monetary Policy In Low Income Countries In The Face Of The Global Crisis
DOWNLOAD
FREE 30 Days
Author : Mr.Alfredo Baldini
language : en
Publisher: International Monetary Fund
Release Date : 2012-04-01
Monetary Policy In Low Income Countries In The Face Of The Global Crisis written by Mr.Alfredo Baldini 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 2012-04-01 with Business & Economics categories.
We develop a DSGE model with a banking sector to analyze the impact of the financial crisis on Zambia and the role of the monetary policy response. We view the crisis as a combination of three related shocks: a worsening in the terms of the trade, an increase in the country’s risk premium, and a decrease in the risk appetite of local banks. We characterize monetary policy as "stop and go": initially tight, subsequently loose. Simulations of the model broadly match the path of the economy during this period. We find that the initial policy response contributed to the domestic impact of the crisis by further tightening financial conditions. We study the factors driving the "stop" part of policy and derive policy implications for central banks in low-income countries.
Creating Policy Space In Low Income Countries During The Recent Crises
DOWNLOAD
FREE 30 Days
Author : Mr.Paolo Dudine
language : en
Publisher: International Monetary Fund
Release Date : 2010-03-16
Creating Policy Space In Low Income Countries During The Recent Crises written by Mr.Paolo Dudine 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 2010-03-16 with Business & Economics categories.
Low-income countries were hit especially hard by sharp increases in world food and fuel prices in 2007-08 and the global financial crisis that followed. In response, the International Monetary Fund scaled up its financial assistance to low-income countries and revamped its concessional lending facilities to make them more flexible in meeting the diverse needs of these countries. Creating Policy Space in Low-Income Countries during the Recent Crises assesses empirically the outcome of the IMF response, and provides insight into how IMF-supported programs in low-income countries have been adapted to the changing economic circumstances in these countries. The authors report that these programs have provided expanded policy space in the face of the global price shocks and financial crisis.
The Sources Of Business Cycles In A Low Income Country
DOWNLOAD
FREE 30 Days
Author : Romain Houssa
language : en
Publisher: International Monetary Fund
Release Date : 2015-02-25
The Sources Of Business Cycles In A Low Income Country written by Romain Houssa 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 2015-02-25 with Business & Economics categories.
We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shocks. We identify the shocks with a combination of sign and recursive restrictions within Bayesian VAR models. As a benchmark we provide results for South Africa to document the difference between two economies with similar structures but different levels of development. We find that global shocks play a more dominant role in South Africa than in Ghana. These shocks operate through three channels: trade, credit and commodity prices.
Weather Shocks And Output In Low Income Countries The Role Of Policies And Adaptation
DOWNLOAD
FREE 30 Days
Author : Mr.Sebastian Acevedo Mejia
language : en
Publisher: International Monetary Fund
Release Date : 2019-08-16
Weather Shocks And Output In Low Income Countries The Role Of Policies And Adaptation written by Mr.Sebastian Acevedo Mejia 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 2019-08-16 with Business & Economics categories.
We explore the extent to which macroeconomic policies, structural policies, and institutions can mitigate the negative relationship between temperature shocks and output in countries with warm climates. Empirical evidence and simulations of a dynamic general equilibrium model reveal that good policies can help countries cope with negative weather shocks to some extent. However, none of the adaptive policies we consider can fully eliminate the large aggregate output losses that countries with hot climates experience due to rising temperatures. Only curbing greenhouse gas emissions—which would mitigate further global warming—could limit the adverse macroeconomic consequences of weather shocks in a long-lasting way.
Are External Shocks Responsible For The Instability Of Output In Low Income Countries
DOWNLOAD
FREE 30 Days
Author : Claudio E. Raddatz
language : en
Publisher: World Bank Publications
Release Date : 2005
Are External Shocks Responsible For The Instability Of Output In Low Income Countries written by Claudio E. Raddatz 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 2005 with Business cycles categories.
External shocks, such as commodity price fluctuations, natural disasters, and the role of the international economy, are often blamed for the poor economic performance of low-income countries. The author quantifies the impact of these different external shocks using a panel vector autoregression (VAR) approach and compares their relative contributions to output volatility in low-income countries vis-à-vis internal factors. He finds that external shocks can only explain a small fraction of the output variance of a typical low-income country. Internal factors are the main source of fluctuations. From a quantitative perspective, the output effect of external shocks is typically small in absolute terms, but significant relative to the historic performance of these countries.
The End Of An Era The Medium And Long Term Effects Of The Global Crisison Growth In Low Income Countries
DOWNLOAD
FREE 30 Days
Author : Mr.Chris Papageorgiou
language : en
Publisher: International Monetary Fund
Release Date : 2010-09-01
The End Of An Era The Medium And Long Term Effects Of The Global Crisison Growth In Low Income Countries written by Mr.Chris Papageorgiou 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 2010-09-01 with Business & Economics categories.
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, growth spells techniques and panel regressions, we show that external demand (ED) shocks are not historically associated with sharp declines in output growth. Given existing evidence that LICs were primarily impacted by such a shock in the global financial crisis, our analysis provides some optimism on the chances that LICs will avoid a protracted period of slow growth. However, we also show that there seem to be persistent output losses associated with ED shocks in the medium-run. In terms of policy implications, our analysis provides evidence that countries with lower deficits, lower debt, more flexible exchange rate regimes, and a higher stock of international reserves are more likely to dampen the effects of an ED shock on growth.
Managing Global Growth Risks And Commodity Price Shocks Vulnerabilities And Policy Challenges For Low Income Countries
DOWNLOAD
FREE 30 Days
Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2011-09-21
Managing Global Growth Risks And Commodity Price Shocks Vulnerabilities And Policy Challenges For Low Income Countries written by International Monetary Fund. Strategy, Policy, & Review Department 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 2011-09-21 with Business & Economics categories.
As part of its work to help low-income countries (LICs) manage volatility, the IMF has recently developed an analytical framework to assess vulnerabilities and emerging risks that arise from changes in the external environment (see IMF, 2011a). This report draws on the results of the first Vulnerability Exercise for LICs (VE-LIC) conducted by IMF staff using this new framework. The report focuses on the risks of a downturn in global growth and of further global commodity price shocks, and discusses related policy challenges. The report is organized as follows: Chapter I reviews recent macroeconomic developments, including the spike in global commodity prices earlier this year. Chapter II assesses current risks and vulnerabilities, including how a sharp downturn in global growth and further commodity price shocks would affect LICs. Chapter III discusses policy challenges in the face of these risks and vulnerabilities.