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Author | : Zubair Iqbal |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 248 |
Release | : 1997-09-12 |
Genre | : |
ISBN | : 9781451957198 |
Download External Finance for Low-Income Countries Book in PDF, ePub and Kindle
Edited by Zubair Iqbal and Ravi Kanbur, this volume consists of papers presented at a joint IMF and World Bank conference on external financing for low-income countries. The primary focus was on the impact of external indebtedness on low-income countries, mainly in sub-Saharan Africa, the HIPC Debt initiative, the determinants and role of private capital flow, policies that could be implemented to catalyze private capital flows, and the appropriate role for official finance in the period ahead.
Author | : IMF Institute |
Publisher | : Fonds Monetaire International |
Total Pages | : 266 |
Release | : 1997 |
Genre | : Business & Economics |
ISBN | : |
Download External Finance for Low-income Countries Book in PDF, ePub and Kindle
La conferencia se enfoco en el impacto de la deuda externa en paises de bajo ingreso, particularmente los paises pobres, pasos que se toman para tratar los problemas de la deuda y los flujos de capital privado. Este volumen reune las ponencias de estudiosos de universidades y de organizaciones de investigacion internacional y los miembros del Fondo y el Banco Mundial.
Author | : Mr.Thierry Tressel |
Publisher | : International Monetary Fund |
Total Pages | : 54 |
Release | : 2009-10-01 |
Genre | : Business & Economics |
ISBN | : 1451873689 |
Download External Balance in Low Income Countries Book in PDF, ePub and Kindle
This paper offers a coherent empirical analysis of the determinants of the real exchange rate, the current account, and the net foreign assets position in low income countries. The paper focuses on indicators specific to low income countries, such as the quality of policies and institutions, the special access to official external financing, and the role of shocks. In addition to more standard factors, we find that domestic financial liberalization is associated with higher current account balances and net foreign asset positions, while capital account liberalization is associated with lower current account balances and net foreign asset positions and with more appreciated real exchange rates. Negative exogenous shocks tend to raise (reduce) the current account in countries with closed (opened) capital accounts. Finally, foreign aid is progressively absorbed over time through net imports, and is associated with a more depreciated real exchange rate in the long-run.
Author | : Stanley Fischer |
Publisher | : |
Total Pages | : 19 |
Release | : 1994 |
Genre | : |
ISBN | : |
Download External Finance for Low-income Developing Countries Book in PDF, ePub and Kindle
Author | : International Monetary Fund. Strategy, Policy, & Review Department |
Publisher | : International Monetary Fund |
Total Pages | : 50 |
Release | : 2009-02-26 |
Genre | : Business & Economics |
ISBN | : 1498336256 |
Download Changing Patterns in Low-Income Country Financing and Implications for Fund Policies on External Financing and Debt Book in PDF, ePub and Kindle
Low-income countries (LICs) face significant challenges in meeting their development objectives while maintaining a sustainable debt position. The international community’s main answer to this dilemma has been to promote recourse to concessional external resources. The Fund’s recommendations to LICs conform to this preference: the practice in Fund-supported programs in LICs has generally been to set zero limits on nonconcessional external borrowing while not restricting concessional financing, although flexibility has been applied on a case-by-case basis to allow some nonconcessional borrowing when warranted.
Author | : Ms.Wenyi Shen |
Publisher | : International Monetary Fund |
Total Pages | : 48 |
Release | : 2015-12-30 |
Genre | : Business & Economics |
ISBN | : 1513521349 |
Download Government Spending Effects in Low-income Countries Book in PDF, ePub and Kindle
Despite the voluminous literature on fiscal policy, very few papers focus on low-income countries (LICs). This paper develops a new-Keynesian small open economy model to show, analytically and through simulations, that some of the prevalent features of LICs—different types of financing including aid, the marginal efficiency of public investment, and the degree of home bias—play a key role in determining the effects of fiscal policy and related multipliers in these countries. External financing like aid increases the resource envelope of the economy, mitigating the private sector crowding out effects of government spending and pushing up the output multiplier. The same external financing, however, tends to appreciate the real exchange rate and as a result, traded output can respond quite negatively, reducing the overall output multiplier. Although capital scarcity implies high returns to public capital in LICs, declines in public investment efficiency can substantially dampen the output multiplier. Since LICs often import substantial amounts of goods, public investment may not be as effective in stimulating domestic production in the short run.
Author | : John Loxley |
Publisher | : Routledge |
Total Pages | : 228 |
Release | : 2019-03-13 |
Genre | : Social Science |
ISBN | : 0429692188 |
Download Debt And Disorder Book in PDF, ePub and Kindle
One of the most important and controversial challenges feeing the international financial and trading system is the need for developing countries to meet their high and rapidly growing external debt obligations and foreign exchange requirements. Developing countries have suffered major shocks in the form of global recession, high real interest rates, weakened terms of trade, and rising protectionism against their exports. The International Monetary Fund, the World Bank, Western central banks, and private financial institutions are seeking to avoid a collapse of the international financial system, and developing countries are seeking to grow through increased trade and access to external financing. Yet the fragility of current international trade and monetary systems seriously threatens the achievement of both sets of objectives. Professor Loxley integrates the structural adjustment experience of Third World countries with the policies, practices, and relationships of external financial agents in his discussion of options for reforming policy and of the limitations inherent in implementing these reforms.
Author | : Sebastian Horn |
Publisher | : International Monetary Fund |
Total Pages | : 49 |
Release | : 2021-09-24 |
Genre | : Business & Economics |
ISBN | : 1513597728 |
Download Opening Up: Capital Flows and Financial Sector Dynamics in Low-Income Developing Countries Book in PDF, ePub and Kindle
Over the past two decades, many low-income developing countries have substantially increased openness towards external financing and have received large capital inflows. Using bank-level micro data, this paper finds that capital inflows have been associated with financial deepening through increases in bank loans, deposits, and wholesale funding. Domestic banks increase loans more than foreign banks. There are only modest signs of a build-up in financial vulnerabilities. Causality is examined through an instrumental variable approach and an augmented inverse-probability weighting estimator. These approaches indicate only limited evidence for global push effects, pointing towards the importance of domestic pull factors.
Author | : Ms.Stefania Fabrizio |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 2010-03-16 |
Genre | : Business & Economics |
ISBN | : 1589069293 |
Download Coping with the Global Financial Crisis Book in PDF, ePub and Kindle
This forthcoming title in the Departmental Paper Series describes the special challenges facing low-income countries as economic growth contracts by an estimated 1.1 percent globally. Coping with the Crisis: Challenges Facing Low-Income Countries provides an assessment of the implications of the financial crisis for low-income countries, evaluates the short-term macroeconomic outlook for these countries, and discusses the policy challenges they face. Chapters cover the outlook for global economic growth and commodity prices, an overview of how low-income countries have been affected, fiscal policy, monetary and exchange rate policy responses, potential external financing needs and how the international community, including the IMF, can help countries meet them. The challenges ahead for low-income countries are delineated, including debt vulnerabilities and the need for countries to develop well-regulated local capital markets and banking systems, as well as enhanced public sector efficiency.
Author | : Mr.Alessandro Prati |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2011-03-15 |
Genre | : Business & Economics |
ISBN | : 1616350539 |
Download External Performance in Low-Income Countries Book in PDF, ePub and Kindle
Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and number of countries it covers, to estimate the relationship in low-income countries between a set of fundamentals in the medium to long term and the real effective exchange rate, the current account, and the net external assets position.