Download or read book Russian Federation Staff Report for the Article IV Consultation and Post program Monitoring Discussions written by and published by . This book was released on 2009 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Drivers of Emerging Market Bond Flows and Prices written by Mr. Evan Papageorgiou and published by International Monetary Fund. This book was released on 2021-12-16 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: An interesting disconnect has taken shape between local currency- and hard currency-denominated bonds in emerging markets with respect to their portfolio flows and prices since the start of the recovery from the COVID-19 pandemic. Emerging market assets have recovered sharply from the COVID-19 sell-off in 2020, but the post-pandemic recovery in 2021 has been highly uneven. This note seeks to answer why. Yields of local currency-denominated bonds have risen faster and are approaching their pandemic highs, while hard currency bond yields are still near their post-pandemic lows. Portfolio flows to local currency debt have similarly lagged flows to hard currency bonds. This disconnect is closely linked to the external environment and fiscal and inflationary pressures. Its evolution remains a key consideration for policymakers and investors, since local markets are the main source of funding for emerging markets. This note draws from the methodology developed in earlier Global Financial Stability Reports on fundamentals-based asset valuation models for funding costs and forecasting models for capital flows (using the at-risk framework). The results are consistent across models, indicating that local currency assets are significantly more sensitive to domestic fundamentals while hard currency assets are dependent on the external risk sentiment to a greater extent. This suggests that the post-pandemic, stressed domestic fundamentals have weighed on local currency bonds, partially offsetting the boost from supportive global risk sentiment. The analysis also highlights the risks emerging markets face from an asynchronous recovery and weak domestic fundamentals.
Download or read book Is Transparency Good for You and Can the IMF Help written by Yongseok Shin and published by International Monetary Fund. This book was released on 2003-06-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper finds that reforms introduced by the IMF to promote transparency have created more informed markets and reduced borrowing costs for those emerging market countries that volunteered for them. Using a quarterly panel estimation with fixed country effects, we find that sovereign spreads fall following the adoption of three different transparency reforms. The effects are economically important, especially for those countries with low initial transparency. We use two-stage least squares to address any endogeneity in the timing of reforms exploiting internal IMF timetables that are unrelated to country events. Next, using a panel GARCH specification, we show that spreads move more than normal in the days immediately following publication of IMF country documents.
Download or read book Russian Federation written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2019-08-02 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2019 Article IV Consultation with Russian Federation discusses that growth is projected at 1.2 percent in 2019, reflecting a weak first quarter estimate, lower oil prices and the impact of the higher value-added tax rate on private consumption. At the same time, gross domestic product growth should be supported by an increase in public sector spending in the context of the national projects announced in 2018. Inflation has begun to fall and is expected to return to the 4 percent target by early 2020. The medium-term growth outlook remains modest. Public infrastructure spending under the national projects together with increase labor supply due to pension reform could have a positive effect on the growth rate of potential output. However, absent deeper structural reforms, long-run growth is projected to settle around 1.8 percent. It is recommended that it is imperative to enhance competition by facilitating entry/exit and reforming public procurement.
Download or read book Russian Federation Staff Report for the 2011 Article IV Consultation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-09-27 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The reports highlights that, even though the Russian economy has started reviving from the crisis, growth has been moderate and inflation high. Executive Directors have advised that the focus should be on reducing fiscal vulnerabilities, lowering inflation, promoting a stronger and more competitive banking system, and creating a favorable environment for investment and economic diversification. Directors encouraged the authorities to undertake growth-friendly, credible, and ambitious fiscal consolidation. They have supported the Financial Sector Assessment Program (FSAP) recommendations to strengthen financial sector policies.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Russian Federation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-10-23 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the 2007 Article IV Consultation highlights the Russian Federation’s long-term perspective, economic developments, and macroeconomic policies. Russia’s economic growth remains robust. High oil prices and sound fiscal policy underlie Russia’s long spell of robust growth. Executive Directors noted that Russia continues to face tensions in the policy mix designed to reduce inflation while preserving exchange rate stability. Raising investment levels is particularly important in light of the projected decline in the labor force and the declining prospect for continued high productivity gains over the medium term.
Download or read book Illicit Financial Flows from Developing Countries Measuring OECD Responses written by OECD and published by OECD Publishing. This book was released on 2014-04-23 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication identifies the main areas of weakness and potential areas for action to combat money-laundering, tax evasion, foreign bribery, and to identify, freeze and return stolen assets.
Download or read book Russian Federation written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2015-08-03 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2015 Article IV Consultation highlights that Russia entered 2014 with declining potential growth owing to the stabilization of oil prices, stalled structural reforms, weak investment, declining total factor productivity, and adverse population dynamics. In addition, the ongoing slowdown was exacerbated by the dual external shocks from the sharp decline in oil prices and sanctions. The authorities took measures to stabilize the economy and the financial system. Russia is expected to be in recession in 2015 owing to the sharp drop in oil prices and sanctions. Growth should resume in 2016 while inflation continues to decline.
Download or read book South Africa 2012 Article IV Consultation Staff Report Informational Annex Debt Sustainability Analysis Staff Statement Public Information Notice written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-08-23 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Banking in Central and Eastern Europe 1980 2006 written by Stephan Barisitz and published by Routledge. This book was released on 2007-08-09 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 Introduction -- chapter 2 Banks and their role in a modern market-oriented economy -- chapter 3 Banking under socialism -- chapter 4 Transition, liberalization, banking crises and reform policies (up to around 2000) -- chapter 5 Post-transition crisis developments, strengths and weaknesses of contemporary banking sectors (since around 2000) -- chapter 6 Perspectives of banking in Central and Eastern Europe.
Download or read book People s Republic of China written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2013-07-17 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This staff report on People’s Republic of China 2013 Article IV Consultation highlights macroeconomic developments and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment to sustain activity is raising vulnerabilities. The consequence is a steady build-up of leverage that is eroding the strength of the financial sector, local government, and corporate balance sheets. This is most apparent in the continued rapid expansion in total social financing. The development of nontraditional finance marks a shift to more market-based intermediation, and the migration of activity to less-regulated parts of the system poses risks to financial stability.
Download or read book Are Resources a Curse written by Andrea Gawrich and published by Verlag Barbara Budrich. This book was released on 2010-12-20 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy as a Curse The analysis of rentierism in Post-soviet states, which this book presents, underscores the need for further research as rentier state concepts have mainly been applied to “older” rentier states like African, Latin American and Arab countries. An important contribution to a topical discussion. During the last 30 years, many resource-rich countries have experienced economic and political stagnation (“resource curse”). They have developed deficient political systems in which the process of modern state formation is being undercut (“rentier state”) as well as economic structures in which sectors that provide strong incentives for the accumulation of physical and human capital are under-represented (“Dutch disease”). This is very much the same in many of the post-Soviet states with high resource incomes since the mid 1990s. These incomes present opportunities for reducing poverty and promoting economic growth. But instead of taking advantage of these opportunities many of them present authoritarian regimes with high levels of corruption, low political freedom and rent-seeking elites. The book gives a detailed analysis of rentierism in Post-soviet states.
Download or read book The Rise and Fall of Privatization in the Russian Oil Industry written by L. Sim and published by Springer. This book was released on 2008-10-24 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of the actors and institutions that shaped decision-making on privatization in the Russian oil industry between 1992 and 2006. The book analyses the origins of privatization as a policy on a macro, industry-wide level, as well as presenting three in-depth case studies of privatization on a company level.
Download or read book Defence Innovation and the 4th Industrial Revolution written by Michael Raska and published by Routledge. This book was released on 2022-03-30 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the implications of disruptive technologies of the Fourth Industrial Revolution (4IR) on military innovation and the use of force. It provides an in-depth understanding of how both large and small militaries are seeking to leverage 4IR emerging technologies and the effects such technologies may have on future conflicts. The 4th Industrial Revolution (4IR), the confluence of disruptive changes brought by emerging technologies such as artificial intelligence, robotics, nanotechnologies, and autonomous systems, has a profound impact on the direction and character of military innovation and use of force. The core themes in this edited volume reflect on the position of emerging technologies in the context of previous Revolutions in Military Affairs; compare how large resource-rich states (US, China, Russia) and small resource-limited states (Israel, Sweden, Norway) are adopting and integrating novel technologies and explore the difference between various innovation and adaptation models. The book also examines the operational implications of emerging technologies in potential flashpoints such as the South China Sea and the Baltic Sea. Written by a group of international scholars, this book uncovers the varying 4IR defence innovation trajectories, enablers, and constraints in pursuing military-technological advantages that will shape the character of future conflicts. The chapters in this book were originally published as a special issue of the Journal of Strategic Studies.
Download or read book Republic of Belarus Staff Report for the Article IV Consultation written by and published by . This book was released on 2007 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
