Volume/Issue: 2015/285
Series: IMF Working Papers
Author(s):
Delong Li
,
Nicolas Magud
, and
Fabian Valencia
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
30
December
2015
DOI: http://dx.doi.org/10.5089/9781513539935.001
ISBN: 9781513539935
We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a financing channel o...
Volume/Issue: 2015/274
Series: IMF Working Papers
Author(s):
Diego Anzoategui
,
Mali Chivakul
, and
Wojciech Maliszewski
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
24
December
2015
DOI: http://dx.doi.org/10.5089/9781513565149.001
ISBN: 9781513565149
Widespread implicit guarantees and interest ceilings were major distortions in China's
financial system, contributing to a misallocation of resources. We analyze the impact of
removing such frictions in a general e...
Volume/Issue: 2015/228
Series: IMF Working Papers
Author(s):
Christian Ebeke
, and
Armand Fouejieu
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
28
October
2015
DOI: http://dx.doi.org/10.5089/9781513586267.001
ISBN: 9781513586267
This paper investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions. Using a large sample...
Volume/Issue: 2015/207
Series: IMF Working Papers
Author(s):
Nasha Ananchotikul
, and
Dulani Seneviratne
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
28
September
2015
DOI: http://dx.doi.org/10.5089/9781513516233.001
ISBN: 9781513516233
Given the heavy reliance on bank lending as the main source of financing in most Asian
economies, banks could potentially play a pivotal role in monetary policy transmission.
However, we find that Asia's bank lendi...
Volume/Issue: 2015/204
Series: IMF Working Papers
Author(s):
Kevin Cheng
,
Sidra Rehman
,
Dulani Seneviratne
, and
Shiny Zhang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
28
September
2015
DOI: http://dx.doi.org/10.5089/9781513516738.001
ISBN: 9781513516738
Against the backdrop of the rise of global value chains (GVCs), particularly in Asia, this
paper documents key developments of GVCs and investigates what factors cause
economies to reap greater benefits from GVC pa...
Volume/Issue: 2015/195
Series: IMF Working Papers
Author(s):
Manuk Ghazanchyan
,
Janet Stotsky
, and
Qianqian Zhang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
03
September
2015
DOI: http://dx.doi.org/10.5089/9781513524535.001
ISBN: 9781513524535
This study examines the drivers of growth in Asian countries, with focus on the role of investment,
the exchange rate regime, financial risk, and capital account openness. We use a panel data set of a
sample of Asi...
Volume/Issue: 2015/151
Series: IMF Working Papers
Author(s):
Waikei Lam
,
Xiaoguang Liu
, and
Alfred Schipke
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
13
July
2015
DOI: http://dx.doi.org/10.5089/9781513570693.001
ISBN: 9781513570693
As China implements reforms under the 'new normal,' maintaining stability in the labor market is a
priority. The country's demography and labor dynamics are changing, after benefitting in past decades
from ample ch...
Volume/Issue: 2015/131
Series: IMF Working Papers
Author(s):
Reda Cherif
, and
Fuad Hasanov
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
23
June
2015
DOI: http://dx.doi.org/10.5089/9781513556017.001
ISBN: 9781513556017
Only a few European economies and Korea and Taiwan Province of China reached high-income
status during 1970-2010. Malaysia's real income per capita increased to 26 percent of
the U.S. level in 2010 from 20 percent...
Volume/Issue: 2015/97
Series: IMF Working Papers
Author(s):
Naomi Griffin
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
04
May
2015
DOI: http://dx.doi.org/10.5089/9781484364222.001
ISBN: 9781484364222
The appreciation of the real exchange rate over the past several years is considered one of the key drivers behind the weak performance of Colombia's manufacturing sector in recent years. This paper examines the ef...
Volume/Issue: 2015/84
Series: IMF Working Papers
Author(s):
Mali Chivakul
,
Waikei Lam
,
Xiaoguang Liu
,
Wojciech Maliszewski
, and
Alfred Schipke
Publisher: INTERNATIONAL MONETARY FUND
Publication Date:
28
April
2015
DOI: http://dx.doi.org/10.5089/9781484337066.001
ISBN: 9781484337066
China's residential real estate sector plays an important role in the economy and has been a key
driver of growth. Since 2014 the sector has softened visibly, reflecting overbuilding across many
cities. An orderly...