The 2007 Article IV Consultation reports on Ghana’s recent economic and policy development. Public Financial Management (PFM) has been strengthened through improvements in fiscal reporting and deployment of the new computerized payroll management system. Executive Directors commended the...

The Selected Issues paper on Poland underlies that as the only European Union economy to avoid outright recession during the crisis, Poland is likely to attract renewed risk appetite. Poland could become one of the main recipients of capital inflows. This could lead to excessive exchange-rate...

На основі побудови зведеного рейтингу видів промислової діяльності в Україні визначені тенденції та основні напрями розвитку промисловості з метою...

The study is devoted to research and development of solutions of actual taxation problems in the area where a source of a taxpayer’s economic benefit is increase in value of assets. The main attention is paid to the analysis of theoretical, methodological and practical aspects of setting and...

This paper aims to investigate the dynamics of capital markets in emerging markets in a period of financial integration. It takes the case of Brazil and South Korea, two key emerging markets in the global economy, to assess the relationship between capital flows and equity prices. This is...

This paper presents a new model for studying international capital flows and debt dynamics that emphasizes the role played by expectations concerning future trade flows and returns. I use the model to estimate the drivers of the U.S. external position and capital flows between 1973 and 2008. The...

This paper recounts Chile’s experience with capital account policies since the 1990s. We present how two external shocks were confronted under very different macroeconomic and capital account frameworks. We show that during the 1997-98 Asian-LTCM-Russia crisis, a closed capital account and...

In this study, we test whether the behavioural bias labelled “disposition effectâ€, defined as the tendency of investors to ride losses and realize gains, leading to asymmetric return-volatility relation before and during subprime crisis periods. The study of the cross-sectional...

The theory of rational bubbles is, no doubt, a part of the important literature developed within the frame of neoclassical postulates of perfectly rational and informed market participants, and it aims to explain the divergences of asset prices from their fundamental value. According to this...

The purpose of this paper is to discuss the importance of incorporating asset holding and its distribution into the study of growth-equity relationship in the context of regional disparity. We have tried to discuss this issue by taking the Inclusive Growth Strategy (IGS) introduced by the Union...