Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1974-01-01 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents main characteristics of a typical oil economy. Estimates of proven oil reserves in Saudi Arabia differ widely, ranging from estimates by ARAMCO and the other companies of about 100 billion barrels to figures exceeding 150 billion barrels. In 1969, two US firms commissioned by the Saudi Arabian Government completed studies of the country's oil reserves, estimating 126.4 billion barrels for the fields surveyed. Growth of oil production in Saudi Arabia has been determined largely by exogenous factors connected with the growth of world demand for oil and fluctuations in supplies from other producing areas. Industrial and agricultural development in Saudi Arabia has been constrained by the scarcity of natural resources, other than oil. Agricultural and fishery resources can be potentially significant, but only recently have they been systematically explored. Based on a clear comparative advantage in the supply of oil and natural gas, industrial development in Saudi Arabia is proceeding from oil production and refining to petrochemicals and to other energy-intensive industries.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1966-01-01 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Foreword to the first issue: “Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to fact as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged. “Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.”
Download or read book Opportunity for All written by MissCatriona Purfield and published by International Monetary Fund. This book was released on 2018-07-17 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication brings together a set of IMF papers that prepared as backgrounds for the various sessions of the conference and will help put into broader dissemination channels the results of this important conference. An official IMF publication is well disseminated into academic and institutional libraries and book channels. The IMF metadata will also make the conference papers more discoverable online.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Foreword to the first issue: “Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to ‘act as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged. “Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.” The authors of the papers in this issue have received considerable assistance from their colleagues on the staff of the Fund. This general statement of indebtedness may be accepted in place of a detailed list of acknowledgments. Subscription: US$6.00 a volume or the approximate equivalent in the currencies of most countries. Three numbers constitute a volume. Single copies may be purchased at $2.50. Special rate to university libraries, faculty members, and students: $3.00 a volume; $1.00 a single copy. Subscriptions and orders should be sent to: THE SECRETARY International Monetary Fund 19th and H Streets, N.W. Washington, D. C. 20431
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1965-01-01 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selections from this paper were delivered at the Annual Meeting of the American Statistical Association, Philadelphia, Pennsylvania, on September 8, 1965.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1986-01-01 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines potential strengths and weaknesses of various versions of the target zone approach and confronts operational outlines potential strengths and weaknesses of various versions of the target zone approach but also confronts operational. Target zones differ from a pure system of clean floating in that the authorities are permitted (and indeed are likely) to intervene in the exchange market, and, more generally, are encouraged to take a view on the desirable level of the exchange rate. The hard version of target zones shares some of the attributes of the existing European Monetary System (EMS). Unlike the EMS, hard target zones neither entail a formal commitment for exchange rate intervention nor there is analog to the credit facilities of the EMS. The soft version of target zones differs from existing IMF surveillance. Whether measured in real or nominal terms, bilateral or effective terms, and the short-run variability of exchange rates over the period of managed floating has been high—indeed, significantly higher than during the previous Bretton Woods system.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1970-01-01 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the determination of monetary policy is an exercise that must include the organization of information so that proper conclusions may be reached regarding the application of policy instruments. The information on which policies have to be based is frequently a complex set of interrelated data. It is extremely difficult to obtain a reasonable view of the future unless it is possible to assign some quantitative magnitudes to the significant monetary aggregates. In all countries, but particularly in the less developed, the immediate monetary situation may be judged largely in terms of the level of international reserves and the comparative rates of growth in bank credit and money. Central bankers are faced with the terrifying complexity of information and relations between variables that typifies the financial structure of any economy. In order to classify the statements and to clarify the financial relations in an economy, the bankers need an organized arrangement of the available information.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1959-01-01 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the connection between the need for financial statistics as an aid to monetary and financial policy. The essential unifying element between statistics and policy is, of course, theory—a coherent set of assumptions regarding the behavior of the economy. These assumptions will indicate how the economy is expected to respond to changes of particular variables on which policy action concentrates. The accounts of the money and banking and financial system can provide a large part of the required financing statistics in a highly reliable form. In all economies a large part of borrowing and lending is indirect. Among the financial institutions, the banking system stands out, not merely because of its relative magnitude but because of its ability to create its own liabilities. Both banks and life insurance companies grant credit; that is not where the difference lies. A simple model of the economy can be built on the basis of injections of income that can be observed from available statistics.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 1992-01-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper answers key questions in considering a value-added tax (VAT) for Central and Eastern European countries. The paper emphasizes that in Western countries tax policy derives from the assumption that the market achieves an optimal allocation of resources. Efficiency in resource allocation and, by extension, the neutrality advantages of the VAT cannot be attained if prices continue to be controlled by the government and enterprises continue to be subject to undue regulation and direction from the center. If a VAT is not to resemble the kind of bookkeeping exercise of the old turnover taxes, then its introduction should be preceded by a substantial degree of price liberalization and enterprise autonomy. Finally, a VAT is a “democratic tax,” in the sense that, in the main, taxpayers must comply voluntarily with the obligations imposed on them. Also, they have the right to disagree with the tax liability as ascertained by the tax office. This requires carefully crafted procedures and sustained efforts to elicit taxpayer cooperation.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1985-01-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes that publications of the IMF are one way in which this responsibility is discharged. Through the publication of Staff Papers, the IMF is making available some of the work of members of its staff. The IMF believes that these papers will be found helpful by government officials, by professional economists, and by others concerned with monetary and financial problems. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the IMF. The selected references presented in this bibliography cover books, pamphlets, reports, and periodical articles that describe the functions, organization, and activities of the IMF. Publications on the various aspects of international economics are included only when they contain material relating specifically to the IMF.
Download or read book IMF Staff Papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1963-01-01 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper describes the operations of the international monetary system and to evaluate its efficacy to meet existing and foreseeable problems. The attempt is made to put the essential characteristics of the entire monetary system in a realistic perspective and to lay a better basis for studying and evaluating problems importantly affected by the operations of the system. Thus, the present international payments system is a deliberate choice among the means of conducting international financial relations. It is not rigid, and it makes provision for both adapting to enduring changes and meeting sudden and grave financial crises. However, the system has two permanent features—the use of par values and the convertibility of currencies for current transactions; without these features, it would cease to exist. The measures taken will be dealt with in a subsequent article on the management of the convertibility system and the techniques available for its defense.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1992-01-01 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Common issues emerging from the recent experience with IMF-supported programs in Hungary, Poland, Czechoslovakia, Bulgaria, and Romania are analyzed. These comprise the initial price overshooting and output collapse and the financial and structural problems associated with bad loan portfolios and sluggish implementation of privatization programs. Substantial success has been achieved in the initial microstabilization and opening-up effort. But difficulties with fiscal and monetary control may be emerging as a result of social and political pressures and unclear policy signals on the micro issues involving the structural transformation of the productive and financial systems.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1962-01-01 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an analysis of attempts at international coordination of national policies leads to the conclusion that true international action that has a good chance to succeed for specific measures, such as changes in exchange rates, customs tariffs, and perhaps discount rates. There is, on the other hand, little reason to assume that the desire prevalent in all countries for full employment, stable prices, and growth could be supported to any important degree by the acceptance of international obligations. The targets of economic policy as they have been put forward for our discussion appear simple and noncontroversial: reasonable price stability, full employment and an adequate rate of growth, and balance of payments equilibrium. If in any country the relationship between wages and employment is such that at full employment wages increase more rapidly than is compatible with price stability, then obviously the price and employment objectives of that country are not compatible.
Download or read book IMF Staff papers Volume 43 No 1 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1996-01-01 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends a standard growth model and obtains consistent panel data estimates of the growth retarding effects of military spending via its adverse impact on capital formation and resource allocation. Simulation experiments suggest that a substantial long-term “peace dividend”—in the form of higher capacity output—may result from markedly lower military expenditure levels achieved in most regions during the late 1980s, and the further military spending cuts that would be possible if global peace could be secured.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1993-01-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.
Download or read book IMF Staff Papers Volume 52 No 2 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2005-08-29 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines contractionary currency crashes in developing countries. It explores the causes of India’s productivity surge around 1980, more than a decade before serious economic reforms were initiated. The paper finds evidence that the trigger may have been an attitudinal shift by the government in the early 1980s that, unlike the reforms of the 1990s, was pro-business rather than pro-market in character, favoring the interests of existing businesses rather than new entrants or consumers. A relatively small shift elicited a large productivity response, because India was far away from its income possibility frontier.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1987-01-01 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the middle of 1985 Argentina and Israel launched frontal attacks on inflation which succeeded in reducing it drastically during the first year without very significant costs in employment and output. Despite basic differences in the countries’ structures, the programs were similar in their design and their effects. This paper covers some of these similarities in the implementation and the results of the two stabilization programs, and analyzes the rationale of the underlying conception of the plans. The focus is on the strategy for the transitional period, and the ability of the programs to sustain price stability.
