Download or read book Interest Rate Policy in Egupt Its Role in Stabilization and Adjustment written by Mansoor Dailami and published by World Bank Publications. This book was released on 1991 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Raising interest rates is clearly essential to the success of any stabilization and adjustment programs that Egypt undertakes. But to reduce the risks of higher interest rates to its distorted economy, and to increase the benefits, increases in interest rates need to be accompanied by other adjustment measures.
Download or read book Stabilization and Adjustment in Egypt written by Gouda Abdel-Khalek and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the impact of Egypt's Economic Reform and Structural Adjustment Programme (ERSAP), the effects of which have been of great interest to the international community. Organizations such as the World Bank and the IMF uphold the programme as a success story and example for other countries to follow. ERSAP also has its critics, however, who resent its tendency to downsize government and fear possible negative effects on growth and development. The author discusses these concerns along with those regarding the possible negative social effects of ERSAP.
Download or read book The Egyptian Stabilization Experience written by Arvind Subramanian and published by International Monetary Fund. This book was released on 1997-09 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Egypt is well embarked on a reform effort aimed at placing the economy on a higher growth trajectory that would durably raise living standards, reverse the rising tide of unemployment, reduce the level of poverty, and facilitate Egypt's accelerated integration in the world economy. These objectives are to be achieved through a program that would build on the macroeconomic stability attained in the last few years and which envisions the acceleration of structural reforms, encompassing privatization, trade liberalization, deregulation, fiscal reform, and strengthening of the financial sector. To ensure a strong enabling environment for these reforms, it is important to understand, assess, and draw lessons from Egypt's success in macroeconomic stabilization, not least because continuing stabilization forms the sine qua non for the growth phase.
Download or read book Monetary Issues in the Middle East and North Africa Region written by Mr.Simon T Gray and published by International Monetary Fund. This book was released on 2013-05-15 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the main themes covered in two seminars (December 2011 and September 2012) on monetary policy and implementation at the IMF—Middle East Center for Economics and Finance, and includes country case studies. Against the backdrop of the global financial crisis and swings in cross-border capital flows, operational frameworks have become more flexible, and liquidity management has impacted the relationship between the policy rate corridor and market rates. The balance sheet structure of central banks in the Middle East and North Africa (MENA) shows differences between oil exporters and others, while a few countries have exhibited notable changes since early 2011. Collateral now has a significant financial stability function. Although only one MENA country is part of the G20, implementation of the Basel III bank capital adequacy and liquidity rules will most likely impact banks’ way of doing business in MENA countries, even if indirectly.
Download or read book Evolving Monetary Policy Frameworks in Low Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Download or read book Monetary Policy in Emerging Markets written by Mr.Donal McGettigan and published by International Monetary Fund. This book was released on 2013-05-03 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In contrast to advanced markets (AMs), procyclical monetary policy has been a problem for emerging markets (EMs), with macroeconomic policies amplifying economic upswings and deepening downturns. The stark difference in policy has not been subject to extensive study and this paper attempts to address the gap. Key findings, using a large sample of EMs over the past 50 years, are: (i) EMs have adopted increasingly countercyclical monetary policy over time, although large differences remain among EMs and policies became more procyclical during the recent crisis. (ii) Inflation targeting and better institutions have been key factors behind the move to countercyclicality. (iii) Only deep financial markets allow EMs with flexible exchange rate regimes turn countercyclical. (iv) More countercyclical policy is associated with far less volatile output. The economically meaningful impact of IT on monetary policy countercyclicality and output variability is another reason in its favor, over and above better inflation outcomes.
Download or read book Distributional Effects of Adjustment Policies written by François Bourguignon and published by World Bank Publications. This book was released on 1991 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic crises in the 1980s made it more difficult to design policies to alleviate poverty because of the need to stabilize the economy and promote restructuring that would ensure long- term growth.
Download or read book Lessons from the Heterodox Stabilization Programs written by Miguel Alberto Kiguel and published by World Bank Publications. This book was released on 1991 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Heterodox stabilization programs are more successful in chronic high inflation countries because only there can the benefits from achieving a rapid initial reduction in inflation outweigh the costs of tampering with price and wage controls. While the heterodox phase is effective in blocking inflation initially, success depends on a long- term commitment to the orthodox part of the program and the readiness to accept the unavoidable costs of disinflation.
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Download or read book Inflation Inertia in Egypt and its Policy Implications written by Mr.Kenji Moriyama and published by International Monetary Fund. This book was released on 2011-07-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the degree of inflation inertia in Egypt and its determinants using the cross country data consisting of over 100 countries. Medium-unbiased estimator of inflation inertia in Egypt is high compared to other countries, as indicated by its location around the upper quartile among the sample. The cross country analysis indicates that counter-cyclical macroeconomic policy and fiscal consolidation are a key to reduce inflation inertia and the costs of disinflation.
Download or read book Toward an Integrated Policy Framework written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-10-08 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers often face difficult tradeoffs in pursuing domestic and external stabilization objectives. The paper reflects staff’s work to advance the understanding of the policy options and tradeoffs available to policymakers in a systematic and analytical way. The paper recognizes that the optimal path of the IPF tools depends on structural characteristics and fiscal policies. The operational implications of IPF findings require careful consideration. Developing safeguards to minimize the risk of inappropriate use of IPF policies will be essential. Staff remains guided by the Fund’s Institutional View (IV) on the Liberalization and Management of Capital Flows.
Download or read book Distributional Aspects of Debt Adjustment written by Ishac Diwan and published by World Bank Publications. This book was released on with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Issues in Adjustment in Developing Countries written by Jaime de Melo and published by Springer. This book was released on 1993-07-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book deals with aspects of the recent fiscal crisis in developing countries. Macro aspects cover theoretical underpinning of fiscal policy, the size of the required adjustment and the link between internal and external transfers. Micro aspects cover the relation between private and public investment, the experience of tax and expenditure reforms, and the impact of fiscal adjustment on the poor.
Download or read book The Egyptian Economy 1952 2000 written by Khalid Ikram and published by Routledge. This book was released on 2007-04-11 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interviews with former Prime Ministers and Cabinet Ministers along with previously unpublished analysis by the World Bank, IMF and USAID provide entertaining and interesting insights into Egypt's economic development policy during 1952 to 2000. Areas addressed include: * the performance of the Egyptian economy since 1950s * the factors that have facilitated or retarded economic performance * the Egyptian authorities approach to economic issues and policy-making * the chief questions that policy-makers will have to deal with in the next twenty years. Set apart by Khalid Ikram’s intimate knowledge of the Egyptian policy-makers this book presents a unique account of economic development and policy-making in Egypt during 1952 to 2000.
Download or read book Fiscal Policy with Fixed Nominal Exchange Rates written by Christophe Chamley and published by World Bank Publications. This book was released on 1991 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: C^ote d'Ivoire's increase in debt in the 1980s (from 30 percent of GDP to 100 percent) did little for new investment, because the investment-GDP ratio barely compensated for inflation. The country's fiscal stance hurt the real exchange rate and international competitiveness.
Download or read book Inflation Tax and Deficit Financing in Egypt written by Hinh T. Dinh and published by World Bank Publications. This book was released on 1991 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Are High Real Interest Rates Bad for World Economic Growth written by Nemat Shafik and published by World Bank Publications. This book was released on 1991 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conventional wisdom says yes. But close examination suggests the answer is not nearly so clear-cut.
