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Interpreting Real Exchange Rate Movements in Transition Countries

International Monetary Fund - 2001

that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period … 1993-98, the results show clear evidence of productivity-driven exchange rate movements in the central and eastern European … expect to experience further productivity-driven real exchange rate appreciations. Evidence from a large cross-section of non …

Persistent link: https://www.econbiz.de/10014403602

Trade Policy and Market Structure Interactions in Developing Countries

International Monetary Fund - 1989

This paper shows that the presence of quotas on imported inputs that are based on installed capacity can lead to capacity underutilization in manufacturing industries of developing countries. A replacement of such quotas, by tariffs leads to full capacity utilization under assumptions of both...

Persistent link: https://www.econbiz.de/10014396017

A Model of Adjustment and Growth : An Empirical Analysis

International Monetary Fund - 1989

This paper develops a model merging the monetary approach to the balance of payments and a neoclassical growth model into a unified framework in which inflation, growth, and the balance of payments are simultaneously determined. The empirical part of the paper presents estimates of the key...

Persistent link: https://www.econbiz.de/10014396167

Theoretical Aspects of Growth in Developing Countries : External Debt Dynamics and the Role of Human Capital

International Monetary Fund - 1988

This paper formulates a simple aggregate growth model that is capable of assessing the impact of macroeconomic policies on the long-term performance of a developing country. The model emphasizes expenditures on human capital and the dynamics of external debt, and yields empirically testable...

Persistent link: https://www.econbiz.de/10014396208

Issues in the Design of Growth Exercises

International Monetary Fund - 1988

factor productivity in the process of economic growth and examines the main conceptual and empirical problems involved in … productivity, saving and the cost of capital …

Persistent link: https://www.econbiz.de/10014396223

An Econometric Rational Expectations Macroeconomic Model for Developing Countries with Capital Controls

International Monetary Fund - 1990

A small macroeconomic model based on familiar theoretical considerations is developed and estimated using data from 31 developing countries. Efficient estimation techniques are used to control for country heterogeneity under the assumption of rational expectations. The estimates and the test...

Persistent link: https://www.econbiz.de/10014396265

A Noteon Debt Reduction and Echonomic Efficiency

International Monetary Fund - 1990

This note examines the efficiency gains that might result from market-based debt reduction and alternative uses of resources. It is argued that when a country’s expected output falls short of contractual claims on that output, private investment is drawn to activities that protect the...

Persistent link: https://www.econbiz.de/10014396332

Debt and Conditionality under Endogenous Terms of Trade Adjustment

International Monetary Fund - 1988

The purpose of this study is to identify conditions under which renewed international lending will benefit both the developed and the developing countries. Our analysis will evaluate how the presence of terms of trade adjustment and distorted credit markets affect the conditions for the...

Persistent link: https://www.econbiz.de/10014396340

Analysis of Self-Financed Buy-Backs and Asset Exchanges

International Monetary Fund - 1988

buy–backs of external debt financed by the debtor through asset sales generally result in unchanged or lower market prices for remaining debt. The contractual value of debt is reduced by some multiple of the market value of assets sold. The use of assets as collateral for new debt that is...

Persistent link: https://www.econbiz.de/10014396342

Growth, External Debt and Sovereign Risk in a Small Open Economy

International Monetary Fund - 1989

exogenous disturbances. It is shown that structural policies intended to reduce the fiscal deficit or increase productivity can …

Persistent link: https://www.econbiz.de/10014396362