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Riding Global Financial Waves; The Economic Impact of Global Financial Shocks on Emerging Market Economies

Adler, Gustavo; Mora, Camilo Ernesto Tovar - International Monetary Fund (IMF) - 2012

Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping...

Persistent link: https://www.econbiz.de/10011242368

The Driving Force behind the Boom and Bust in Construction in Europe

Sun, Yan; Mitra, Pritha; Simone, Alejandro - International Monetary Fund (IMF) - 2013

This paper studies the factors behind pro-cyclical but widely varying construction shares (as a percent of GDP) across countries, with a strong focus on European countries. Using a dataset covering 48 countries (including advanced and emerging economies within and outside Europe) for 1990-2011,...

Persistent link: https://www.econbiz.de/10010790411

Global Business Cycles; Convergence or Decoupling?

Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008

-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common …

Persistent link: https://www.econbiz.de/10005825794

Bank Efficiency in Sub-Saharan African Middle Income Countries

Chen, Chuling - International Monetary Fund (IMF) - 2009

We use bank level data to study the efficiency of banks in Sub-Saharan African middle-income countries and provide possible explanations for the difference in the efficiency levels of banks. We find that banks, on average, could save 20-30 percent of their total costs if they were operating...

Persistent link: https://www.econbiz.de/10005826655

Inflation and Monetary Policy in a Low-Income and Fragile State: The Case of Guinea

Carrière-Swallow, Yan - 2023

Inflation in low-income countries is often high and volatile, driven by external shocks. In addition, inflation in fragile states is affected by highly volatile domestic factors that complicate monetary policy's ability to deliver price stability. We estimate the drivers of inflation in Guinea...

Persistent link: https://www.econbiz.de/10015059498

Interest Rates, Credit Rationing, and Investment in Developing Countries

Nkusu, Mwanza - International Monetary Fund (IMF) - 2003

This paper examines the impact of interest rates and inflation on bank loans and investment within a framework that … treating the lending and deposit rates of interest as distinct parameters in investment equations. The spread between the two …

Persistent link: https://www.econbiz.de/10005605233

The Macroeconomic Impact of Scaled-up Aid

Sacerdoti, Emilio - 2009

We develop a simple macroeconomic model that assesses the effects of higher foreign aid on output growth and other macroeconomic variables, including the real exchange rate. The model is easily tractable and requires estimation of only a few basic parameters. It takes into account the impact of...

Persistent link: https://www.econbiz.de/10012677733

Do IMF Programs Stimulate Private Sector Investment?

Bomprezzi, Pietro - 2022

of firm investment and its growth, and we also document the presence of two financial channels; the degree of firms … ownership data, we find that private investments are stimulated more for domestic firms. The presence of a private investment …

Persistent link: https://www.econbiz.de/10015060247

Debt Sustainability, Public Investment, and Natural Resources in Developing Countries: the DIGNAR Model

Melina, Giovanni; Yang, Shu-Chun S.; Zanna, Luis-Felipe - International Monetary Fund (IMF) - 2014

This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze … the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries … capital enters production technologies, while public investment is subject to inefficiencies and absorptive capacity …

Persistent link: https://www.econbiz.de/10011123850

On the First-Round Effects of International Food Price Shocks: the Role of the Asset Market Structure

Portillo, Rafael; Zanna, Luis-Felipe - International Monetary Fund (IMF) - 2015

We develop a tractable small open-economy model to study the first-round effects of international food price shocks in developing countries. We define first-round effects as changes in headline inflation that, holding core inflation constant, help implement relative price adjustments. The model...

Persistent link: https://www.econbiz.de/10011242189