Search Results - subject:"FINANCIAL LIBERALIZATION"

Growth Dynamics; The Myth of Economic Recovery

Saxena, Sweta Chaman; Cerra, Valerie - International Monetary Fund (IMF) - 2005

Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative shocks lead to absolute divergence and lower long-run growth, whereas we find...

Persistent link: https://www.econbiz.de/10005604978

Before and After Financial Liberalization

Reinhart, Carmen; Tokatlidis, Ioannis - Volkswirtschaftliche Fakultät, … - 2005

Given all the ambiguities about the outcomes of the financial liberalization process, it is relevant to ask what the … following domestic and external financial liberalization? Are there significant differences in the outcomes between emerging and … certainty, financial liberalization appears to deliver: higher real interest rates (possibly reflecting the allocation of …

Persistent link: https://www.econbiz.de/10005616649

The Economic and Social Effects of Financial Liberalization: A Primer for Developing Countries

Ghosh, Jayati - Department of Economic and Social Affairs, United Nations - 2005

This paper considers the main elements of the standard pattern of financial liberalization that has become widely … Financial Liberalization: A Primer for Developing Countries Jayati Ghosh Abstract This paper considers the main elements of the … Financial Liberalization: A Primer for Developing Countries …

Persistent link: https://www.econbiz.de/10005786854

International Capital Flows, Financial Stability and Growth

Kaminsky, Graciela L. - Department of Economic and Social Affairs, United Nations - 2005

to be effi cient favour unrestricted capital movements. Financial liberalization is believed to improve the functioning …

Persistent link: https://www.econbiz.de/10005786874

Cross-Country Empirical Studies of Systemic Bank Distress: A Survey

Demirgüç-Kunt, Asli; Detragiache, Enrica - International Monetary Fund (IMF) - 2005

A rapidly growing empirical literature is studying the causes and consequences of bank fragility in present-day economies. The paper reviews the two basic methodologies adopted in cross-country empirical studies-the signals approach and the multivariate probability model-and their application to...

Persistent link: https://www.econbiz.de/10005826068

Too Much of a Good Thing? Credit Booms in Transition Economies; The Cases of Bulgaria, Romania, and Ukraine

Duenwald, Christoph; Gueorguiev, Nikolay; Schaechter, Andrea - International Monetary Fund (IMF) - 2005

Rapid credit growth in Bulgaria, Romania, and Ukraine has been driven by successful macroeconomic stabilization, robust growth, and capital inflows. While financial deepening is both expected and welcome, the recent expansions appear to have been excessive, as evidenced by widening current...

Persistent link: https://www.econbiz.de/10005826445

Monetary Policy Implementation at Different Stages of Market Development

Laurens, Bernard - International Monetary Fund (IMF) - 2005

The most salient trend in monetary policy over the past two decades has been increasing reliance on money market operations, which reflects the belief that allowing market forces to allocate financial resources brings about increased economic efficiency and growth. However, small economies and...

Persistent link: https://www.econbiz.de/10005252522

Assessing and Managing Rapid Credit Growth and the Role of Supervisory and Prudential Policies

Pazarbasioglu, Ceyla; Johnsen, Gudrun; Hilbers, Paul … - International Monetary Fund (IMF) - 2005

This paper reviews trends in bank lending to the private sector, with a particular focus on Central and Eastern European countries, and finds that rapid growth of private sector credit continues to be a key challenge for most of these countries. The paper discusses possible implications for...

Persistent link: https://www.econbiz.de/10005263910

What Matters for Financial Development? Capital Controls, Institutions, and Interactions

Chinn, Menzie David; Ito, Hiro - Santa Cruz Institute for International Economics … - 2005

investigate whether a well-developed banking sector is a precondition for financial liberalization to lead to equity market …

Persistent link: https://www.econbiz.de/10010536125

Financial Liberalizations in Latin-America in the 1990s: A Reassessment

Aizenman, Joshua - Santa Cruz Institute for International Economics … - 2005

This paper studies the experience of Latin-America [LATAM] with financial liberalization in the 1990s. The rush towards …

Persistent link: https://www.econbiz.de/10010536133