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IMF surveillance and financial markets : a political economy analysis
Fratzscher, Marcel; Reynaud, Julien - 2010
surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power … for IMF surveillance. For a set of emerging market economies, the paper finds that financial markets react more favorable … to PIN releases for politically influential member countries. Moreover, IMF surveillance appears to be systematically …
Persistent link: https://www.econbiz.de/10003976542
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IMF Surveillance and Financial Markets - A Political Economy Analysis
Fratzscher, Marcel - 2014
surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power … for IMF surveillance. For a set of emerging market economies, the paper finds that financial markets react more favorable … to PIN releases for politically influential member countries. Moreover, IMF surveillance appears to be systematically …
Persistent link: https://www.econbiz.de/10013069721
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IMF Surveillance and Financial Markets - A Political Economy Analysis
Fratzscher, Marcel; Reynaud, Julien - CESifo - 2010
surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power … for IMF surveillance. For a set of emerging market economies, the paper finds that financial markets react more favorable … to PIN releases for politically influential member countries. Moreover, IMF surveillance appears to be systematically …
Persistent link: https://www.econbiz.de/10008583679
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IMF surveillance and financial markets : a political economy analysis
Fratzscher, Marcel; Reynaud, Julien - In: European journal of political economy 27 (2011) 3, pp. 405-422
Persistent link: https://www.econbiz.de/10009260076
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Reform of the international financial architecture : an Asian perspective
Kawai, Masahiro - 2009
architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance … powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … surveillance mechanisms. The region should also intensify regional exchange rate policy coordination to achieve sustained economic …
Persistent link: https://www.econbiz.de/10003901587
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Limiting Risk Premia in EMEs : The Role of FX Reserves
Kohlscheen, Emanuel - 2020
Sovereign risk premia have declined for the majority of emerging market economies. This paper analyzes the key drivers of risk premia, as proxied by the 5-year CDS spreads, using a quantile regression approach. We find that lower public debt and inflation, as well as higher growth are key to...
Persistent link: https://www.econbiz.de/10012827775
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The Cross-Section of Country News, Decoupling Expectations, and Global Business Cycles
Hoffmann, Mathias - 2011
We define decoupling as an increase in the cross-country heterogeneity in long-term growth expectations. We identify growth expectations from a cointegrating relation between a country's output level and its stock market valuation. Fluctuations in this output-price or yp-ratio reflect changes in...
Persistent link: https://www.econbiz.de/10013118037
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Short-Run Pain, Long-Run Gain : The Effects of Financial Liberalization
Kaminsky, Graciela; Schmukler, Sergio L. - 2021
We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...
Persistent link: https://www.econbiz.de/10013318025
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Reform of the international financial architecture: An Asian perspective
Kawai, Masahiro - 2009
architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance … powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … surveillance mechanisms. The region should also intensify regional exchange rate policy coordination to achieve sustained economic …
Persistent link: https://www.econbiz.de/10010279852
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Reform of the global financial architecture
Schinasi, Garry J.; Truman, Edwin M. - 2010
This paper examines the implications of the global financial crisis of 2007-10 for reform of the global financial architecture, in particular the International Monetary Fund and the Financial Stability Board and their interaction. These two institutions are not fully comparable, but they must...
Persistent link: https://www.econbiz.de/10008696422