Dependence on agro-commodity exports amongst low-income economies mean that they are uniquely vulnerable to balance of payment shocks. They are often also dependent on the imports of food crops and energy, resulting in a double burden in the post-COVID-19 period. In this paper, we review new and...

Dependence on agro-commodity exports amongst low-income economies mean that they are uniquely vulnerable to balance of payment shocks. They are often also dependent on the imports of food crops and energy, resulting in a double burden in the post-COVID-19 period. In this paper, we review new and...

This paper looks at the correlation between the cyclical components of gross domestic product and the exchange rate and classifies countries'currencies as procyclical if they appreciate in good times, countercyclical if they appreciate in bad times, and acyclical otherwise. With this...

Over the past 15 years, gross inflows to industrial and developing countries have enjoyed a wild ride. After reaching record highs in the run-up to the global financial crisis, they collapsed dramatically in 2008-09. As signs of global recovery reappeared, capital inflows resumed although at...

In May 2013, Federal Reserve officials first began to talk of the possibility of tapering their security purchases. This tapering talk had a sharp negative impact on emerging markets. Different countries, however, were affected very differently. This paper uses data on exchange rates, foreign...