Download or read book Saving Investment Financial Integration and the Balance of Payments written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-12-14 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the extent of international financial integration, and its consequences for the current account. The evidence indicates that financial liberalization in the 1970s and 1980s has resulted in a substantial movement towards closer integration of world capital markets. By reducing constraints on international capital flows, this movement makes the current account more of a residual factor in agents’ decisions.
Download or read book Balance of Payments Textbook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-04-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.
Download or read book Balance of Payments Imbalances by Alan Greenspan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-12-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the developing countries, which accounted for nearly half the value of those surpluses, were apparently unable to find sufficiently profitable investments at home that overcame market and political risk. The United States a decade ago likely could not have run up today’s near $800 billion annual deficit for the simple reason that we could not have attracted the foreign savings to finance it. In 1995, for example, total cross-border saving was less than $300 billion. The long-term updrift in this broader swath of unconsolidated deficits and mostly offsetting surpluses of economic entities has been persistent but gradual for decades, probably generations. However, the component of that broad set that captures only the net foreign financing of the imbalances of the individual US economic entities, our current account deficit, increased from negligible in the early 1990s to 6.2 percent of our GDP by 2006.
Download or read book Balance of Payments Compilation Guide written by International Monetary Fund and published by International Monetary Fund. This book was released on 1995-03-15 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: A companion document to the fifth edition of the Balance of Payments Manual, the Balance of Payments Compilation Guide shows how the conceptual framework described in the Manual may be implemented in practice. The primary purpose of the Guide is to provide practical guidance for using sources and methods to compile statistics on the balance of payments and the international investment position. the Guide is designed to assist balance of payments compilers and statisticians in understanding the relative strengths and weaknesses of various approaches. The material reflects the emergence of new data sources and adaptations in the application of statistical methodologies to changing circumstances. Discussed in the Guide are all of the tasks that a BOP compiler normally performs. Appendices contain a set of model BOP questionnaires and a set of model BOP publication tables. Relationships between the balance of payments statistics and relevant aspects of national accounts are covered as well.
Download or read book Balance of Payments Manual written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-11-16 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth edition of Balance of Payments Manual, issued in 1993, presents revised and updated standards for concepts, definitions, classifications, and conventions for compilation of balance of payments and international investment position statistics that reflect the widespread changes that have taken place in international transactions since the fouth edition was published in 1977. As the international standard, the Manual serves as a guide for IMF member countries that regularly report balance of payments data to the IMF. The Manual contains significantly expanded and restructured coverage of financial flows and stocks and international transactions in services. Harmonization with the System of National Accounts and other IMF statistical systems is also greatly increased. See also companion volumes, the Balance of Payments Compilation Guide and the Balance of Payments Textbook.
Download or read book National Saving and Economic Performance written by B. Douglas Bernheim and published by University of Chicago Press. This book was released on 1991-05 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: "... Papers presented at a conference held at the Stouffer Wailea Hotel, Maui, Hawaii, January 6-7, 1989. ... part of the Research on Taxation program of the National Bureau of Economic Research." -- p. ix.
Download or read book The Macroeconomics of De Cashing written by Mr.Alexei P Kireyev and published by International Monetary Fund. This book was released on 2017-03-27 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper presents a simple framework for the analysis of the macroeconomic implications of de-cashing. Defined as replacing paper currency with convertible deposits, de-cashing would affect all key macroeconomic sectors. The overall macreconomic impact of de-cashing would depend on the balance of growth-enhancing and growth-constraining factors. Starting from a traditional saving-investment balance, the paper develops a four-sector macroeconomic framework. It is purely illustrative and is designed to provide a roadmap for a systematic evaluation of de-cashing. The framework is disaggregated into the real, fiscal, monetary, and external sectors and potential implications of de-cashing are then identified in each sector. Finally, the paper draws a balance on possible positive and negative macroeconomic implications of de-cashing, and proposes policies capable of augmenting its economic and social benefits, while reducing potential costs.
Download or read book Financial Derivatives written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2000-05-10 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the late 1990s, international statistical experts confirmed that financial derivatives should be treated as financial assets and that transactions in financial derivatives should be reported as separate transactions rather than as integral parts of the values of underlying transactions or of financial assets to which some derivatives are linked as hedges. Therefore, to parallel revisions made to the System of National Accounts (1993), an addendum and amendments to the fifth edition (1993) of the Balance of Payments Manual (BPM5) were prepared and published, in early 2000, as a supplement entitled Financial Derivatives. This supplement comprises two parts. Part I contains a new chapter in which the features of financial derivatives and treatments appropriate for specific derivatives were described. Part II consists of modifications to those portions of the BPM5 that pertain to financial derivatives. The revisions are shown by means of shading and strikeout. Financial Derivatives is an essential component of the BPM5.
Download or read book World Saving Prosperity and Growth written by Luigi Paganetto and published by Springer. This book was released on 1993-11-12 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Financial Integration written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 2003-04-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the foreign assets and liabilities of advanced economies have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding changes in the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. This paper describes the broad trends in international financial integration for a sample of industrial countries and seeks to explain the cross-country and time-series variation in the size of international balance sheets. It also examines the behavior of the rates of return on foreign assets and liabilities, relating them to "market" returns.
Download or read book Dollarization written by Eduardo Levy Yeyati and published by MIT Press. This book was released on 2003 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical and empirical analysis of de jure dollarization. With the persistent instability of international financial markets, emerging economies are exploring new ways to reduce exposure to capital flow volatility. Some analysts argue that financially open economies are best served by more flexible regimes, while others argue in favor of extreme exchange rate regimes that have a strong commitment to a fixed parity or dispense with an independent currency. The successful launch of the euro has made more realistic the prospect of replacing a national currency with a strong foreign one. Recent examples include the adoption of the US dollar by Ecuador and El Salvador. The introduction of a foreign currency as sole legal tender, termed full (de jure) dollarization, has been the center of much political and academic debate. This book provides a comprehensive analysis of the issues from both theoretical and empirical perspectives. The topics discussed include the role of balance sheet effects, the linkage between currency risk and country risk, the impact of dollarization on trade, financial integration and credibility, the implications of dollarization for the lender of last resort, and the institutional and political economy aspects of dollarization.
Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004-02-19 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description
Download or read book Private Capital Flows to Developing Countries written by and published by World Bank Publications. This book was released on 1997 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.
Download or read book Current Account Reversals and Currency Crises written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1998-06-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies large reductions in current account deficits and exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. Both domestic factors, such as the low reserves, and external factors, such as unfavorable terms of trade, are found to trigger reversals and currency crises. The two types of events are, however, distinct; an exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversals there is no systematic evidence of a growth slowdown.
Download or read book Balance of Payments Manual Sixth Edition Compilation Guide written by Mr.Eduardo Valdivia-Velarde and published by International Monetary Fund. This book was released on 2014-12-08 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balance of Payments and International Investment Position Manual 6: Compilation Guide is a companion document to the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). The purpose of the Guide is to show how the conceptual framework described in the BPM6 may be implemented in practice and to provide practical advice on source data and methodologies for compiling statistics on the balance of payments and the international investment position. The Guide is not intended to be a stand-alone manual, and readers should be familiar with the BPM6.
Download or read book External Adjustment written by Maurice Obstfeld and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the current account balance increasingly inadequate as a summary of the change in a country's net foreign assets. Nonetheless, unusually large current account imbalances, especially deficits, should remain high on policymakers' list of concerns, even for the richer and less credit-constrained countries. Extreme imbalances signal the need for large and perhaps abrupt real exchange rate changes in the future, changes that might have undesired political and financial consequences given the incompleteness of domestic and international asset markets. Furthermore, of the two sources of the change in net foreign assets -- the current account and the capital gain on the net foreign asset position -- the former is better understood and more amenable to policy influence. Systematic government attempts to manipulate international asset values in order to change the net foreign asset position could have a destabilizing effect on market expectations"--NBER website
Download or read book Currency Conflict and Trade Policy written by C. Fred Bergsten and published by Columbia University Press. This book was released on 2017-06-27 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conflicts over currency valuations are a recurrent feature of the modern global economy. To strengthen their international competitiveness, many countries resort to buying foreign currencies to make their exports cheaper and their imports more expensive. In the first decade of the 21st century, for example, China's currency manipulation practices were so flagrant that they produced a backlash in the United States and other trading partners, prompting threats of retaliation. How damaging is the practice of currency manipulation—and how extensive is the problem? This book by C. Fred Bergsten and Joseph E. Gagnon—two leading experts on trade, investment, and the effects of currency manipulation—traces the history, causes, and effects of currency manipulation and analyzes a range of policy responses that the United States could adopt. The book is an indispensable guide to a complex and serious problem and what might be done to solve it.
