In the last three decades, gross national saving in the UK has fluctuated widely. Swings in components of national savings have of course been even more marked, since there are sound economic reasons to expect changes in one component (e. g. , private saving) to be at least partially offset by...

This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly,...

Is the international financial architecture debate over? Not according to leading experts gathered together in this impressive volume who try to identify the key trends that will fashion the international financial system in the years ahead. As history has shown, the evolution of the...

Management of capital inflows has unexpectedly become a major challenge in transition economies. These countries were expected to have an insatiable demand for foreign capital, and an excess demand for capital inflows was, therefore, predicted by most observers. Foreign investors are also known...

First, the paper will examine the policy issues around domestic financial sectors (their size and structure) as well as that of their regulation. Second, it will examine the policy issues of capital account management. This analysis will be framed by the two aims of the financial sector : to...

First, the paper will examine the policy issues around domestic financial sectors (their size and structure) as well as that of their regulation. Second, it will examine the policy issues of capital account management. This analysis will be framed by the two aims of the financial sector: to fund...

BRICS leaders have approved creating a new development bank which would fund long-term investment in infrastructure and more sustainable development. This paper documents the scale of unmet needs in these areas in developing and emerging economies. It then estimates the likely level of loans...

One Pager No. 81 ? How Does the Financial Crisis Affect Developing Countries? by Diana Alarcon, Poverty Practice, Bureau for Development Policy, UNDP; Stephany Griffith-Jones, Columbia University; and José Antonio Ocampo, Columbia University

[eng] This paper details the evolution of foreign exchange assets in different parts of the developing world, the relative importance of the current vs. the capital accounts as the source of those assets, and discusses some categorizations of sovereign wealth funds (SWFs). Then, it briefly...