Revisiting The Link Between Finance And Macroeconomic Volatility

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Revisiting The Link Between Finance And Macroeconomic Volatility

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Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30

Revisiting The Link Between Finance And Macroeconomic Volatility 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 2013-01-30 with Business & Economics categories.

This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial systems serve as shock absorbers, mitigating the negative effects of real external shocks on macroeconomic volatility. This smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and financial openness are high - suggesting significant gains from further financial deepening in developing countries.

Financial Inclusion In Asia And Beyond

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Author : Tony Cavoli
language : en
Publisher: Routledge
Release Date : 2021-03-05

Financial Inclusion In Asia And Beyond written by Tony Cavoli and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-05 with Business & Economics categories.

The World Bank considers financial inclusion to be an enabler for at least 7 of the 17 United Nation’s sustainable development goals (SDGs). Financial inclusion, with its associated policy implications, is an important issue for ASEAN. This book examines the economic effects of financial inclusion. It explores issues surrounding measurement and impact of financial inclusion. The book looks at various, salient topics including measurement of financial inclusion, the impact of (various indicators of) financial inclusion on development outcomes and macroeconomic volatility using aggregate data, as well as the effects of financial inclusion on poverty and development outcomes using micro data.

Frontier And Developing Asia

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Author : Mr.Alfred Schipke
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-10

Frontier And Developing Asia written by Mr.Alfred Schipke 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 2015-04-10 with Business & Economics categories.

With a combined population of more than 350 million people, frontier and developing Asia, which includes countries such as Vietnam, Cambodia, and Bangladesh, is located in the world’s fastest-growing region and has favorable demographics. The countries share a number of common macroeconomic, financial, and structural challenges. This book addresses issues related to economic growth and structural transformation, as well as the risk of a poverty trap and rising income inequality.

Approaches To Macrofinancial Surveillance In Article Iv Reports

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-28

Approaches To Macrofinancial Surveillance In Article Iv Reports 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 2017-03-28 with Business & Economics categories.

The Fund has made good progress over the past two years in integrating macrofinancial analysis into Article IV surveillance for a wide range of members. Building on past work to enhance financial sector analysis, Fund staff has sought to develop a consistent and forward-looking view on how the financial sector affects each member’s economic outlook with the aim of strengthening staff’s capacity to provide advice on macro-critical questions. The focus has been on developing a fuller understanding of macrofinancial linkages, and applying this analysis to inform policy advice. Staff has sought to articulate the role of the financial sector in the macroeconomic baseline, and to integrate the financial sector into the risk assessment, taking into account both the impact of macro shocks on the financial sector as well as the effect of financial shocks on macroeconomic stability. Strengthening the analytical foundations of this work has helped staff provide advice in all policy areas, including financial sector policies. Staff has tailored macrofinancial analysis to the circumstances of a diverse set of economies. Area departments have taken the lead in selecting 66 economies for enhanced macrofinancial coverage and in identifying topics, drawing on targeted support from functional departments. The choice of coverage has included legacies from the global financial crisis—such as deleveraging and stretched balance sheets in advanced economies and some emerging markets—and more recent challenges such as commodity price shocks, especially in low income countries, and the risks of housing booms. The financial sector’s contribution to growth and inclusion has become an important question in countries across all income groups. Staff sees benefits in mainstreaming this approach across the membership, while continuing to address analytical gaps and adapting to new challenges. The work of the past two years has underscored the criticality of macrofinancial analysis for a diverse range of members, and laid the basis for progressively mainstreaming macrofinancial surveillance across the membership. Building on this progress, staff sees scope for the Fund to deepen its understanding of the macroeconomic effects of financial shocks, to better adapt microprudential and macroprudential policy advice with an assessment of macro-critical risks including systemic risk, and to deepen the analysis of outward spillovers. Staff will also need to continue to adapt the focus of analysis and tools, and seek relevant data, as economic challenges evolve.

Imf Research Bulletin March 2013

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-03-15

Imf Research Bulletin March 2013 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 2013-03-15 with Business & Economics categories.

The Research Summaries in the March 2013 Research Bulletin discuss "Trade Finance and Its Role in the Great Trade Collapse" (JaeBin Ahn) and "Sovereign Debt: How to Track Who Is Buying and Selling It" (Serkan Arslanalp and Takahiro Tsuda). The Q&A looks at "Seven Questions on the Implications of Global Supply Chains for Real Effective Exchange Rates" (Rudolfs Bems). Readers can also find in this issue a listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from IMF Publications. The Bulletin also includes a call for papers for a research conference and information on free access to the IMF Economic Review in April.

Alternative Approaches In Macroeconomics

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Author : Philip Arestis
language : en
Publisher: Springer
Release Date : 2018-02-07

Alternative Approaches In Macroeconomics written by Philip Arestis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-07 with Business & Economics categories.

This book honours Professor John McCombie’s retirement by exploring a variety of themes, theories and debates in non-orthodox macroeconomics. With contributions from leading scholars, the book covers diverse ground in economic thought, policy, empirical work and modelling. It demonstrates ongoing presumptions and asks probing questions of topical questions from the increase of income equality to the international variation of productivity investment. This collection will appeal to academics and students with an interest in the history of macroeconomic thinking.

Complexities Of Financial Globalisation

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Author : Tony Cavoli
language : en
Publisher: Routledge
Release Date : 2020-05-07

Complexities Of Financial Globalisation written by Tony Cavoli and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-07 with Business & Economics categories.

Since the 1990s, several emerging market and developing economies (EMDEs) have, to varying degrees, embraced the process of financial globalisation, broadly defined as a set of policies that involve allowing for greater openness to cross-border capital flows as well as greater market access to foreign financial institutions. This book provides a systematic empirical analysis on the complex interactions between financial sector development, macroeconomic and financial stability in EMDEs in general and those in the Asian region in particular. The book consists of three sections pertaining to monetary and exchange rate policies under financial globalisation; financial inclusion and macroeconomic policies in the context of financial liberalisation; and finally, the dynamics of foreign direct investment flows and their real impacts in EMDEs. Each of the chapters analyse important economic policy issues of contemporary relevance and is informed by data and rigorous empirical analysis. The book will be appealing to anyone interested in exploring the implications of a key set of issues emanating from financial globalisation on EMDEs in a rigorous but readable manner.

Staff Guidance Note On Macroprudential Policy Considerations For Low Income Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-11

Staff Guidance Note On Macroprudential Policy Considerations For Low Income Countries 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 2014-07-11 with Business & Economics categories.

This note explores how characteristics of financial systems commonly observed in low income countries may shape the approach to the staff’s advice on macroprudential policy. It explores the implications of the ongoing process of financial and institutional development for the conduct of macroprudential policy in these countries. This note is a supplement to the Staff Guidance Note on Macroprudential Policy.

European Bank Restructuring During The Global Financial Crisis

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Author : Jakub Kerlin
language : en
Publisher: Springer
Release Date : 2016-04-30

European Bank Restructuring During The Global Financial Crisis written by Jakub Kerlin and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with Business & Economics categories.

This book explores the diversity of restructuring instruments applied to financial institutions in EU countries during the Global Financial Crisis. It investigates the cost of that support before evaluating its effects, as well as providing an extensive analysis of the measures undertaken. The first chapter presents a historical outline, discusses causes of crises, and offers an overview of the restructuring instruments and of how they were used for crisis management before 2007. The following chapters explore the financial environment in the EU before the crisis outbreak, the rescue actions and financial landscape after the events of the crisis. This book offers a critical and thorough analysis of the financial support provided to banks, providing case studies of over 95 banks from 17 EU member states. The authors provide an in-depth study of the pre and post-crisis landscape, and demonstrate that the crisis has by no means been overcome.

Financialization And The Economy

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Author : Agata Gemzik-Salwach
language : en
Publisher: Routledge
Release Date : 2017-07-14

Financialization And The Economy written by Agata Gemzik-Salwach and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-14 with Business & Economics categories.

There can be no doubt that the influence of the financial sphere has intensified rapidly in recent years, but there is much debate about the effect of that influence. The aftermath of the Financial Crisis has led to numerous discussions of the phenomenon of so-called financialization: the increasing impact of financial institutions on the activity of all business entities; emerging threats related with dynamically developing financial markets and the growing importance of financial themes. In light of these issues, which appear in all economies and touch all entities and every area of economic activity, there is a need for a summary and evaluation of the role of financialization in the world today. This monograph presents the role of financialization in the modern world. It shows positive as well as negative effects of financialization on the stability of the whole economy, the functioning of different types of markets, activity of enterprises, state institutions and behaviours of households. Written by expert contributors, this book plays an important role in the debate concerning future directions of development of the financial sector and financial markets. Financialization and the Economy is of great importance to those who study political economy, macroeconomics and banking.