Download or read book Foreign Exchange Intervention Rules for Central Banks A Risk based Framework written by Romain Lafarguette and published by International Monetary Fund. This book was released on 2021-02-12 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
Download or read book Toward a Realistic and Stable Foreign Exchange Rate for Uganda written by and published by . This book was released on 1995 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Monetary Approach to the Balance of Payments written by Jacob Frenkel and published by Routledge. This book was released on 2013-07-18 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects together the basic documents of an approach to the theory and policy of the balance of payments developed in the 1970s. The approach marked a return to the historical traditions of international monetary theory after some thirty years of departure from them – a departure occasioned by the international collapse of the 1930s, the Keynesian Revolution and a long period of war and post-war reconstruction in which the international monetary system was fragmented by exchange controls, currency inconvertibility and controls over international trade and capital movements.
Download or read book African Development in a Comparative Perspective written by and published by Africa World Press. This book was released on 2000 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fixing African Economies written by Lucie Colvin Phillips and published by Lynne Rienner Publishers. This book was released on 2004 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors report on the link between research and public policy in a range of African countries, seeking to effect more productive, more equitable development strategies.
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 Uganda written by Mr.Calvin A. McDonald and published by International Monetary Fund. This book was released on 1995-12-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores not only the recent adjustment efforts but also the prospects for Uganda in the medium term. It provides an overview of recent economic performance with respect to growth, saving, and investment, and provides an analysis of Uganda's external adjustment efforts. The paper surveys fiscal adjustment and the prospects for a sustainable fiscal position, public enterprise reform, and army demobilization.
Download or read book China s Evolving Exchange Rate Regime written by Mr.Sonali Das and published by International Monetary Fund. This book was released on 2019-03-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Download or read book IMF Staff Papers Volume 51 Special Issue IMF Fourth Annual Research Conference written by Mr.Ashoka Mody and published by International Monetary Fund. This book was released on 2004-06-10 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the 2004 (Volume 51) Special Issue of IMF Staff Papers, which includes 6 selected papers (from more than 20) that were presented at the IMF's Fourth Annual Research Conference, November 6-7, 2003.
Download or read book National Food Strategy written by Tuan A. Nguyen and published by . This book was released on 1996 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Formulation of Exchange Rate Policies in Adjustment Programs written by International Monetary Fund and published by International Monetary Fund. This book was released on 1985-08-15 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of exchange rate policy in economic adjustment has been widely studied and is the subject of numerous theoretical and empirical papers produced in the Fund and elsewhere.
Download or read book Toward Country led Development written by John Eriksson and published by World Bank Publications. This book was released on 2003 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Comprehensive Development Framework (CDF), a World Bank aid policy approach, has become an important influence on the global development agenda since its launch in 1999. It is based on four principles: a long-term holistic development framework; results orientation; country ownership; and country led-partnership. This report contains findings from five case study evaluations of CDF pilot implementation in Bolivia, Ghana, Romania, Uganda and Vietnam, and from a non-CDF pilot study in Burkina Faso chosen as a control. A World Bank synthesis evaluation report on the CDF is also available (ISBN 0821356437).
Download or read book Exchange Rate Volatility and Trade Flows Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Uganda written by and published by World Bank Publications. This book was released on 1996-01-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spanish edition Prioridades y estrategias para la educaciÃ[3]n: Examen del Banco Mundial. . Discusses policy options for meeting educational challenges in low- and middle-income countries as they move toward the twenty-first century. Also available: English (ISBN 0-8213-3311-9) Stock No. 13311; French (ISBN 0-8213-3410-7) Stock No. 13410.
Download or read book Uganda s Recovery written by Ritva Reinikka and published by World Bank Publications. This book was released on 2001-01-01 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Uganda's recovery over the past 15 years from economic decline, conflict, and repressive government to macroeconomic stability, high growth, and considerable political freedom signifies a major turnaround in Africa. Uganda's postconflict recovery coincides with one of Africa's most ambitious programs of economic liberalization.
Download or read book Uganda written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-07-19 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on Uganda’s 2013 Article IV Consultation and Sixth Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and cancellation of Current Policy Support Instrument. Driven mainly by investment and trade, growth has recovered to about 5 percent, a stronger than expected rebound from the low 31⁄2 percent expansion registered last year. Fast implementation of road construction, the start of operations of the Bujagali hydropower plant, and a good harvest boosted aggregate demand. Envisaged public finance management reforms are set to address the problems of persistent under budgeting, arrears accumulation, and failure to sanction financial irregularities.
Download or read book Financing Innovation and Sustainable Development in Africa written by Steve Kayizzi-Mugerwa and published by Cambridge Scholars Publishing. This book was released on 2018-04-18 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book derives from a symposium held at Cornell University in April 2014. The symposium explored development financing, which has become an important area of policy discussion in Africa and other developing areas in recent years. Using multifaceted and multidisciplinary analytical approaches, it considers the role of the banking system, the stock market, credit access, external aid, and sovereign wealth funds in the evolving development finance architecture. Further, the volume looks at China’s role as an aid donor, the impact of BRICs partnerships in South Africa, the role of NEPAD in mobilizing resources for infrastructure development, and the links between law, trade, and regional integration. The study concurs with previous analyses that greater access to credit by the poor represents the most effective way of fighting poverty and raising the standards of living in Africa. Cornell’s Institute for African Development and the African Development Bank were cosponsors of the 2014 symposium.
