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An Analysis of So-Called Export-led Growth »
Source: An Analysis of So-Called Export-led Growth
Volume/Issue: 2008/220
Series: IMF Working Papers
Author(s): Jie Yang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2008
ISBN: 9781451870787
Keywords: Export-led growth, real exchange rate, productivity improvement, export growth, exchange rate, exportable sector, export sector,
The stylized fact that strong economic growth is usually accompanied with strong export growth leads many people to conclude that the export sector is the main driving force behind those episodes. The model in this...
The Asia Crisis »
Source: The Asia Crisis : Causes, Policy Responses, and Outcomes
Volume/Issue: 1999/138
Series: IMF Working Papers
Author(s): Andrew Berg
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 1999
ISBN: 9781451855968
Keywords: Asia crisis, interest rates and exchange rates, currency crises, balance of payments crises, exchange rate, banking, banking system, exchange rates, foreign exchange
This paper tells the story of the Asian financial crisis by addressing four questions: What were the causes of the crisis, how did the crisis unfold, what were the policy responses, and what have been the outcomes?...
Asia’s Stock Markets: Are There Crouching Tigers and Hidden Dragons? »
Source: Asia's Stock Markets : Are There Crouching Tigers and Hidden Dragons?
Volume/Issue: 2014/37
Series: IMF Working Papers
Author(s): Fabian Lipinsky , and Li Lian Ong
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 26 February 2014
ISBN: 9781484320143
Keywords: arbitrage pricing theory, Asian financial crisis, fundamentals, global financial crisis, idiosyncratic factors, integration, IOSCO, securities regulation, stock market, stock pricing
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region's markets are reputed to be more 'idiosyn...
Balance of Payments Anti-Crises »
Source: Balance of Payments Anti-Crises
Volume/Issue: 2009/134
Series: IMF Working Papers
Author(s): Isabel Yan , and Michael Kumhof
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2009
ISBN: 9781451872811
Keywords: Balance of payments anti-crises, inflation dynamics, foreign exchange, exchange rate, inflation targeting,
Several emerging economies have, until recently, experienced large government surpluses and accelerating foreign exchange reserve accumulation. This has been accompanied by economic booms, exchange rate appreciatio...
Bank Asset Quality in Emerging Markets »
Source: Bank Asset Quality in Emerging Markets : Determinants and Spillovers
Volume/Issue: 2012/71
Series: IMF Working Papers
Author(s): Reinout De Bock , and Alexander Demyanets
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2012
ISBN: 9781475502237
Keywords: Macro-financial linkages, Nonperforming loans, Exchange rate, Panel regressions, capital inflows, net capital flows, exchange rates, Bank Asset Quality in Emerging Markets, Financial Markets and the Macroeconomy, International Finance: General
This paper assesses the vulnerability of emerging markets and their banks to aggregate shocks. We find significant links between banks' asset quality, credit and macroeconomic aggregates. Lower economic growth, an...
“Big Bang” Versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China »
Source: 'Big Bang' Versus Gradualism in Economic Reforms : An Intertemporal Analysis with an Application to China
Volume/Issue: 2001/98
Series: IMF Working Papers
Author(s): Andrew Feltenstein , and Saleh Nsouli
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2001
ISBN: 9781451852141
Keywords: China, Transition, sequencing of reforms, speed of adjustment, privatization, gradual privatization, tariff reform, state-owned enterprises, exchange rate policy, Computable and Other Applied General Equilibrium Models
This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate differe...
Bilateral Financial Linkages and Global Imbalances »
Source: Bilateral Financial Linkages and Global Imbalances : a View on The Eve of the Financial Crisis
Volume/Issue: 2010/257
Series: IMF Working Papers
Author(s): Gian Milesi-Ferretti , Natalia Tamirisa , and Francesco Strobbe
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 2010
ISBN: 9781455209576
Keywords: International financial integration, claims, fdi, portfolio investment, foreign exchange reserves,
We present a novel and comprehensive dataset of bilateral gross and net external positions in various financial instruments for the main advanced and emerging economies and regions, designed to improve our understa...
Bivariate Assessments of Real Exchange Rates Using PPP Data »
Source: Bivariate Assessments of Real Exchange Rates Using PPP Data
Volume/Issue: 2008/153
Series: IMF Working Papers
Author(s): Juan Zalduendo
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2008
ISBN: 9781451870114
Keywords: Real exchange rate, exchange rate, real exchange rates
This paper focuses on assessments of real exchange rates using PPP data and examines their limitations when these are based exclusively on bivariate estimations. It begins by presenting an analytical framework of t...
Broad Money Demand and Asset Substitution in China »
Source: Broad Money Demand and Asset Substitution in China
Volume/Issue: 2009/131
Series: IMF Working Papers
Author(s): Ge Wu
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2009
ISBN: 9781451872781
Keywords: asset substitution, exchange rate, interest rate, equation, statistics, cointegration, inflation,
Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed s...
Characterizing Exchange Rate Regimes in Post-Crisis East Asia »
Source: Characterizing Exchange Rate Regimes in Post-Crisis East Asia
Volume/Issue: 2001/152
Series: IMF Working Papers
Author(s): Taimur Baig
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2001
ISBN: 9781451857092
Keywords: exchange rate regime, volatility, Asian crisis, exchange rate, exchange rates, random walk, exchange rate volatility, standard deviation, International Monetary Arrangements and Institutions,
This paper examines the behavior of the exchange rates of selected emerging market East Asian economies in the aftermath of the Asian crisis. The results suggest that movements in the Asia-5 currencies (Indonesia,...