This chapter explores the impact of international financial integration on credit markets in Latin America, using a cross-country dataset covering 17 countries between 1996 and 2008. It is found that financial integration amplifies the impact of international financial shocks on aggregate credit...

This paper develops a new technique for measuring changes in the degree of capital mobility confronting a developing country that has restrictions on capital flows and official ceilings on domestic interest rates. Because such official controls rule out the use of traditional interest rate...

This Selected Issues paper compares the growth performance of Central African Economic and Monetary Community (CEMAC) countries with that of comparative countries. During the last two decades, the average growth of CEMAC countries has been slower than the sub-Saharan African average. The results...

Tratar las subvenciones del comercio mundial de manera constructiva es un elemento central del objetivo de los líderes del G20 de reformar y reforzar el sistema multilateral de comercio. La utilización cada vez mayor de subvenciones causantes de distorsión altera los flujos comerciales y de...

This paper empirically investigates the economic and political factors that affect a country's likelihood to sign an arrangement with the IMF and the determinants of the financial size of such a program. Arguably the world and the global financial architecture underwent structural changes after...