Imf Staff Papers Volume 57 No 1


Imf Staff Papers Volume 57 No 1
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Imf Staff Papers Volume 57 No 1


Imf Staff Papers Volume 57 No 1
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2010-03-26

Imf Staff Papers Volume 57 No 1 written by International Monetary Fund. Research 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 2010-03-26 with Business & Economics categories.


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 Volume 57 No 2


Imf Staff Papers Volume 57 No 2
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2010-06-29

Imf Staff Papers Volume 57 No 2 written by International Monetary Fund. Research 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 2010-06-29 with Business & Economics categories.


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


Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date :

Imf Staff Papers written by International Monetary Fund. Research 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 with Business & Economics categories.


From the Foreword to the first issue: “Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to ‘act as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged. “Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.” The authors of the papers in this issue have received considerable assistance from their colleagues on the staff of the Fund. This general statement of indebtedness may be accepted in place of a detailed list of acknowledgments. Subscription: US$6.00 a volume or the approximate equivalent in the currencies of most countries. Three numbers constitute a volume. Single copies may be purchased at $2.50. Special rate to university libraries, faculty members, and students: $3.00 a volume; $1.00 a single copy. Subscriptions and orders should be sent to: THE SECRETARY International Monetary Fund 19th and H Streets, N.W. Washington, D. C. 20431



Imf Staff Papers


Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1966-01-01

Imf Staff Papers written by International Monetary Fund. Research 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 1966-01-01 with Business & Economics categories.


From the Foreword to the first issue: “Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to fact as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged. “Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.”



Imf Staff Papers


Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 1987-01-01

Imf Staff Papers written by International Monetary Fund. Research 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 1987-01-01 with Business & Economics categories.




Imf Staff Papers


Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1957-01-01

Imf Staff Papers written by International Monetary Fund. Research 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 1957-01-01 with Business & Economics categories.


The purpose of this paper is to bring monetary events, monetary data, and monetary problems within the framework of income analysis. The study tries to bridge gaps between: the views widely held on the relation between financial policies and payments questions; and the analytical tools used to explain payments developments. The failure to accommodate monetary factors in the analysis probably becomes most evident when questions are raised concerning the effects of specified monetary changes on income or on the balance of payments. The tools used in the economic analysis of situations are necessarily simplifications of a more general economic theory—simplifications which bring into focus the factors that seem most important in the classes of situation studied. The decision to treat domestic credit expansion as an autonomous variable is dictated by the purposes of the analysis. As statistically measured, credit expansion is a net concept, the difference between credit outstanding at the end and at the beginning of a period. Part of the repayments that occur during a period may be caused by new loans granted during this or a preceding period.



Imf Staff Papers


Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1987

Imf Staff Papers written by International Monetary Fund. Research 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 1987 with Business & Economics categories.


An earlier version of this paper was presented to a conference on the topic “Is the Business Cycle Obsolete?” organized by the Social Science Research Council and held in London, England, on April 3–7, 1967.



Imf Staff Papers Volume 46 No 1


Imf Staff Papers Volume 46 No 1
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1999-03-15

Imf Staff Papers Volume 46 No 1 written by International Monetary Fund. Research 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 1999-03-15 with Business & Economics categories.


This economic journal contains theoretical and empirical analyses of varous macroeconomic issues. The studies are prepapred by IMF research staff or consultants. Subjects covered inclulde balance of payments and exchange rates, monetary systems and policies, public finances, international trade, economic growth, and some sectoral analyses. The last issue of the year contains an index to the volume. Approximately 200 pages in each issue.



Imf Staff Papers


Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1959-01-01

Imf Staff Papers written by International Monetary Fund. Research 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 1959-01-01 with Business & Economics categories.


This paper describes the connection between the need for financial statistics as an aid to monetary and financial policy. The essential unifying element between statistics and policy is, of course, theory—a coherent set of assumptions regarding the behavior of the economy. These assumptions will indicate how the economy is expected to respond to changes of particular variables on which policy action concentrates. The accounts of the money and banking and financial system can provide a large part of the required financing statistics in a highly reliable form. In all economies a large part of borrowing and lending is indirect. Among the financial institutions, the banking system stands out, not merely because of its relative magnitude but because of its ability to create its own liabilities. Both banks and life insurance companies grant credit; that is not where the difference lies. A simple model of the economy can be built on the basis of injections of income that can be observed from available statistics.



Imf Staff Papers Volume 55 No 1


Imf Staff Papers Volume 55 No 1
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2008-06-18

Imf Staff Papers Volume 55 No 1 written by International Monetary Fund. Research 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 2008-06-18 with Business & Economics categories.


In this issue, a team of economists look at approaches to modeling the use of IMF resources in order to gauge whether the recent decline in credit outstanding is a temporary or permanent phenomenon. Era Dabla-Norris and Gabriela Inchauste examine what drives the growth of firms, with a focus on informality and regulations. Evan Tanner and Issouf Samake use a vector autoregression approach to examine the probabilistic sustainability of public debt in Brazil. Mexico, and Turkey. And Rachel Glennerster and Yongseok Shin ask whether transparency pays?that is, does the frequency and accuracy of macroeconomic information released to the public lead to lower borrowing costs in sovereign debt markets?