This paper develops a small analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring a nominal devaluation. The effects of postponing adjustment depend on the source of the original...

Iran has received much attention from a geopolitical and regional standpoint, but its economic challenges have not attracted a similar degree of interest. With a population of 69 million, considerable hydrocarbon resources, a dynamic and entrepreneurial middle class, and a relatively...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This study estimates quantitative, industry-level measures of the intensity of competition and also discusses various methodologies and data used for measuring competition. The following data are also included in the study: gross fixed capital formation, selected price indicators, labor force,...

This paper reviews economic developments in Hong Kong Special Administrative Region during 1997–98. The paper highlights that beginning in mid-1997, the regional crisis began to erode confidence in Hong Kong’s exchange rate and prompted a series of speculative attacks. Pressures on the...

The Asian crisis hit the Hong Kong Special Administrative Region (SAR) economy hard in 1998, despite its generally strong fundamentals. In response to the crisis, the authorities eased fiscal policy—within the framework of a medium plan to restore budget balance, and significantly strengthened...

In this study, quantitative, industry-level measures of the intensity of competition are measured. Various methodologies and data used for measuring competition are also discussed. The level of intensity is also compared. The following statistical data are also presented in detail: gross fixed...