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Emerging Markets in Transition

Emerging Markets in Transition »

Source: Emerging Markets in Transition : Growth Prospects and Challenges

Volume/Issue: 2014/6

Series: Staff Discussion Notes

Author(s): Luis Cubeddu , Alexander Culiuc , Ghada Fayad , Yuan Gao , Kalpana Kochhar , Annette Kyobe , Ceyda Oner , Roberto Perrelli , Sarah Sanya , Evridiki Tsounta , and Zhongxia Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2014

ISBN: 9781498327664

Keywords: Emerging markets, growth, potential growth, convergence, heterogeneity, structural reform, productivity, terms of trade, trading partners, commodity prices

After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the po...

Causes of Asset Shortages in Emerging Markets

Causes of Asset Shortages in Emerging Markets »

Source: Causes of Asset Shortages in Emerging Markets

Volume/Issue: 2011/114

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262373

Keywords: Asset Shortage, Emerging Market, Capital Market, Regulation, financial assets, interest rates, capital markets, capital account, pension funds, Money and Interest Rates: General

We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We de...

The Level of Productivity in Traded and Non-Traded Sectors for a Large Panel of Countries1

The Level of Productivity in Traded and Non-Traded Sectors for a Large Panel of Countries1 »

Source: The Level of Productivity in Traded and Non-Traded Sectors for a Large Panel of Countries

Volume/Issue: 2015/48

Series: IMF Working Papers

Author(s): Rui Mano , and Marola Castillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2015

ISBN: 9781484392140

Keywords: Sectoral Productivity, Traded and Non-Traded Sectors, industry, productivity, value added, value, products, Open Economy Macroeconomics, Economic Growth of Open Economies,

This paper explains in detail the construction of series for productivity in the traded and nontraded sectors for a panel of 56 countries spanning 1989-2012. The level of productivity in each sector is defined as r...

Fiscal Stimulus and Credibility in Emerging Countries

Fiscal Stimulus and Credibility in Emerging Countries »

Source: Fiscal Stimulus and Credibility in Emerging Countries

Volume/Issue: 2010/123

Series: IMF Working Papers

Author(s): Magda Kandil , and Hanan Morsy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200825

Keywords: credibility, effectiveness, cyclicality, fiscal impulse, exchange rate, fiscal expansion, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics,

Across a sample of thirty four emerging countries, the evidence shows the frequent existence of a pro-cyclical fiscal impulse. However, the scope for countercyclical policy increases with the availability of intern...

Financial Integration and Risk-Adjusted Growth Opportunities

Financial Integration and Risk-Adjusted Growth Opportunities »

Source: Financial Integration and Risk-Adjusted Growth Opportunities

Volume/Issue: 2008/126

Series: IMF Working Papers

Author(s): Iryna Ivaschenko , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451869866

Keywords: growth opportunities, openness, financial development, financial globalization, european financial integration, foreign assets, financial deepening,

This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countrie...

The Dynamics of Product Quality and International Competitiveness

The Dynamics of Product Quality and International Competitiveness »

Source: The Dynamics of Product Quality and International Competitiveness

Volume/Issue: 2007/97

Series: IMF Working Papers

Author(s): Ashoka Mody , Deniz Igan , and Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866612

Keywords: International competitiveness, Product quality, reer, trading partners, export growth, world exports, export performance, Models of Trade with Imperfect Competition and Scale Economies, Country and Industry Studies of Trade, Technological Change: Other,

Despite the appreciation of the exchange rate, the eight Central and Eastern European countries (the CEE-8) that entered the European Union in May 2004 have achieved a decade of impressive export growth, expanding...

Can Policies Affect Employment Intensity of Growth? A Cross-Country Analysis•

Can Policies Affect Employment Intensity of Growth? A Cross-Country Analysis• »

Source: Can Policies Affect Employment Intensity of Growth? A Cross-Country Analysis

Volume/Issue: 2012/218

Series: IMF Working Papers

Author(s): Davide Furceri , Ernesto Crivelli , and Joël Toujas-Bernate

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505689

Keywords: employment elasticities, structural policies, reforms, labor market, labor market policies, Macroeconomics: Consumption, Saving, Production, Employment and Investment: Other, Mobility

The aim of this paper is to provide new estimates of employment-output elasticities and assess the effect of structural and macroeocnomic policies on the employment-intensity of growth. Using an unbalanced panel of...

Bank Asset Quality in Emerging Markets

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...

Unemployment and Productivity in the Long Run

Unemployment and Productivity in the Long Run »

Source: Unemployment and Productivity in the Long Run : the Role of Macroeconomic Volatility

Volume/Issue: 2010/259

Series: IMF Working Papers

Author(s): Paolo Surico , Luca Ricci , and Pierpaolo Benigno

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455209590

Keywords: macroeconomic volatility, downward wage rigidities, unemployment rate, employment, unemployment rates, rate of unemployment, Macroeconomics and Monetary Economics: General, Macroeconomics: Consumption, Saving, Production

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run produc...

If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows

If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows »

Source: If the Fed Acts, How Do You React? The Liftoff Effect on Capital Flows

Volume/Issue: 2015/256

Series: IMF Working Papers

Author(s): Swarnali Ahmed

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781498367196

Keywords: Fed liftoffs, policy responses, policy framework, emerging market economies, interest, market, portfolio, interest rate, Monetary Policy (Targets, Instruments

After more than six years of ultra-low interest rates, a Fed liftoff (rate hike) is just a matter of time. This paper goes back to history to understand the spillover effect - or what is termed in the paper as the...