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Capital Flows in the APEC Region

Capital Flows in the APEC Region »

Series: Occasional Papers

Author(s): Carmen Reinhart , and Mohsin Khan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 1995

DOI: http://dx.doi.org/10.5089/9781557754660.084

ISBN: 9781557754660

Keywords: capital inflows, capital flows, bond, bonds, bond issues

The developing economies of the Asia Pacific Economic Cooperation (APEC) have been the recipients of a considerable volume of capital inflows in the 1990s. Given the increased integration of capital markets, it is...

Emerging Equity Markets
			: Growth, Benefits, and Policy Concerns

Emerging Equity Markets : Growth, Benefits, and Policy Concerns »

Volume/Issue: 1994/7

Series: IMF Policy Discussion Papers

Author(s): Manmohan Kumar , and Robert Feldman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1994

DOI: http://dx.doi.org/10.5089/9781451971217.003

ISBN: 9781451971217

Keywords: Monetary policy, equity markets, stock market, capital inflows, equity prices, stock markets

Since the mid-1980s, there has been a very substantial increase in stock market activity in many developing countries. This paper first examines the main characteristics of the emerging stock markets, and illustrat...

Mauritius
			: Staff Report for the 2004 Article IV Consultation

Mauritius : Staff Report for the 2004 Article IV Consultation »

Volume/Issue: 2005/281

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 2005

DOI: http://dx.doi.org/10.5089/9781451827811.002

ISBN: 9781451827811

Keywords: debt, interest, interest rate, deficit, public sector

This 2004 Article IV Consultation highlights that real GDP growth of Mauritius is expected to rebound to about 41/2 percent in 2003/04. This largely reflects the recovery of tourism and sugar production, and contin...

Conventional and Insidious Macroeconomic Balance-Sheet Crises

Conventional and Insidious Macroeconomic Balance-Sheet Crises »

Volume/Issue: 2014/160

Series: IMF Working Papers

Author(s): Bas Bakker , and Leslie Lipschitz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2014

DOI: http://dx.doi.org/10.5089/9781498389044.001

ISBN: 9781498389044

Keywords: crises, capital inflows, exchange rate, real effective exchange rate, effective exchange rate, General, Macroeconomic Aspects of International Trade and Finance, Globalization: General,

This paper describes the anatomy of two types of balance-sheet macroeconomic crises. Conventional balance-sheet crises are triggered by external imbalances and balance sheet vulnerabilities. They typically occur af...

Does the Gap Model Work in Asia?

Does the Gap Model Work in Asia? »

Volume/Issue: 1996/69

Series: IMF Working Papers

Author(s): C. McDermott , and David Coe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1996

DOI: http://dx.doi.org/10.5089/9781451960747.001

ISBN: 9781451960747

Keywords: inflation, change in inflation, money supply, terms of trade, monetary fund

There is considerable evidence from industrial countries that the output gap is an important determinant of inflation. We examine whether the gap model also works in developing, newly industrializing, and industria...

Domestic Bank Regulation and Financial Crises
			: Theory and Empirical Evidence From East Asia

Domestic Bank Regulation and Financial Crises : Theory and Empirical Evidence From East Asia »

Volume/Issue: 2001/63

Series: IMF Working Papers

Author(s): Kenneth Kletzer , and Robert Dekle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

DOI: http://dx.doi.org/10.5089/9781451848427.001

ISBN: 9781451848427

Keywords: financial fragility, banking, foreign capital, foreign capital inflows, deposit insurance, Open Economy Macroeconomics,

A model of the domestic financial intermediation of foreign capital inflows based on agency costs is developed for studying financial crises in emerging markets. In equilibrium, the banking system becomes progressi...

Explaining ASEAN-3's Investment Puzzle A Tale of Two Sectors

Explaining ASEAN-3's Investment Puzzle A Tale of Two Sectors »

Volume/Issue: 2013/13

Series: IMF Working Papers

Author(s): Yong Sarah Zhou

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 January 2013

DOI: http://dx.doi.org/10.5089/9781475533736.001

ISBN: 9781475533736

Keywords: Tobin&;amp;#x2019;s Q, asian crisis, capital markets, pre-crisis, financial crisis

The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been...

Financial Frictions, Investment, and Institutions

Financial Frictions, Investment, and Institutions »

Volume/Issue: 2010/231

Series: IMF Working Papers

Author(s): Yishay Yafeh , Kenichi Ueda , and Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2010

DOI: http://dx.doi.org/10.5089/9781455209316.001

ISBN: 9781455209316

Keywords: Financial Friction, institution, creditor rights, measurement errors, correlation, equation, financial markets, standard deviation, Corporate Finance and Governance: General, Economic Growth and Aggregate Productivity: General,

Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two...

Insurance Value of International Reserves
			: An Option Pricing Approach

Insurance Value of International Reserves : An Option Pricing Approach »

Volume/Issue: 2004/175

Series: IMF Working Papers

Author(s): Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

DOI: http://dx.doi.org/10.5089/9781451858785.001

ISBN: 9781451858785

Keywords: option, underlying asset, international reserves, reserve holding, external debt, currency crises, reserve holdings, Open Economy Macroeconomics,

A quantitative framework is developed to bring forward the insurance motive of holding international reserves. The insurance value of reserves is quantified as the market price of an equivalent option that provides...

Spillovers from China's Growth Slowdown and Rebalancing to the ASEAN-5 Economies

Spillovers from China's Growth Slowdown and Rebalancing to the ASEAN-5 Economies »

Volume/Issue: 2016/170

Series: IMF Working Papers

Author(s): Allan Dizioli , Jaime Guajardo , Vladimir Klyuev , Rui Mano , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 2016

DOI: http://dx.doi.org/10.5089/9781475524260.001

ISBN: 9781475524260

Keywords: China’;s slowdown and rebalancing, international business cycle, spillovers, Global VAR, Flexible System of Global Models (FSGM), ASEAN-5.

After many years of rapid expansion, China's growth is slowing to more sustainable levels and is rebalancing, with consumption becoming the main growth driver. This transition is likely to have negative effects on...