Author/Editor: Jonathan David Ostry, Atish R Ghosh, Karl F Habermeier, Marcos d Chamon, Mahvash S Qureshi, Dennis B S Reinhardt.

Release Date: February, 2010

With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countries more...

Author/Editor: Marcello M Estevão, Evridiki Tsounta.

Release Date: January, 2010

This study investigates the impact of the current financial crisis on Canada's potential GDP growth. Using a simple accounting framework to decompose trend GDP growth into changes in capital, labor more...

Release Date: July, 2009

This paper focuses on the Fourth Review for Burkina Faso under the Poverty Reduction and Growth Facility program. All quantitative performance criteria were met, notably the targets for the fiscal more...

Author/Editor: Dimitre Milkov, Rafael A Portillo, Plamen K Iossifov, John Wakeman-Linn.

Release Date: July, 2009

The financial sector of the Central African Economic and Monetary Community (CEMAC) has been seriously affected by the global financial crisis and resulting global recession. This note assesses the more...

Release Date: July, 2008

This 2008 Article IV Consultation highlights that problems in the housing and financial markets over the past year have combined to slow the United States' economy substantially. As the residential more...

Release Date: July, 2007

This Selected Issues paper on Thailand reviews public investment and investment recovery from financial crises. Thailand is a country with a moderate tax effort, which indicates that increases in more...

Release Date: December, 2006

This report includes five background studies with emphasis on vulnerabilities and growth, the focus of the 2006 Article IV Consultation with Uruguay. Stocks of key financial balance sheet more...

Author/Editor: Thorvardur Tjoervi Olafsson, Julia Majaha-Jartby.

Release Date: June, 2005

The paper's central theme is that where a financial crisis emerges, regional supervisors should have systems in place to effectively respond to their country-specific crises and-in the case of more...

Author/Editor: Stefan N Ingves, Steven A Seelig, Dong He.

Release Date: May, 2004

This paper discusses the role of asset management companies (AMCs) in facilitating bank restructuring and specifies some policy lessons learned from international experience. The paper concludes that more...

Author/Editor: Jay Surti.

Release Date: February, 2004

This paper develops a theory of the onset of financial crises by solving for the optimal trading strategies of speculators in financial markets, in a model where each speculator tries to coordinate more...

Author/Editor: Arnaud Jobert, Janet Kong, Jorge A Chan-Lau.

Release Date: February, 2004

We measure bank vulnerability in emerging markets using the distance-to-default, a risk-neutral indicator based on Merton's (1974) structural model of credit risk. The indicator is estimated using more...

Author/Editor: Michael Andrews.

Release Date: November, 2003

Bonds issued by the government or government agencies are often used to finance bank restructuring following a systemic crisis. Many conflicting considerations affect the design of the bonds used to more...

Author/Editor: Kevin Barnes, Ali M. Mansoor, Benjamin H. Cohen, Shinji Takagi.

Release Date: September, 2003

This report evaluates the role of the IMF in three capital account crises, in Indonesia (1997-98), Korea (1997-98), and Brazil (1998-99), and the lessons to be drawn from the experience. It also more...

Author/Editor: Marc Quintyn, David S. Hoelscher.

Release Date: August, 2003

Recent financial sector crises and their resolution have raised new issues and provided additional experiences to draw on in the future. Banking sector problems in Russia, Turkey, and a few Latin more...

Author/Editor: Richard Hemming, Axel Schimmelpfennig, Michael Kell.

Release Date: May, 2003

Fiscal problems have long been considered a central feature of financial--that is, currency, debt, and banking--crises. This paper addresses four questions: What are the fiscal causes of crises? more...

Author/Editor: Haizhou Huang, C A E Goodhart.

Release Date: April, 2000

This paper develops a simple model of an international lender of last resort (ILOLR). The world economy consists of many open economies, each with a banking system and a central bank operating under more...