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Finance & Development
December 1, 2002
Keller et al. |
The Bottom Line Weaknesses in public and private sector balance sheets could be the sign of a crisis in the making.   |
Finance & Development
June 2009
Kamil et al. |
A Hedge, Not a Bet Latin American companies used new techniques to protect against currency swings. But a few used them to gamble -- and they lost big. |
Finance & Development
March 2009
Adelheid Burgi-Schmelz |
Data to the Rescue Why improved statistical information will be key for prevention of future crises. |
Finance & Development
March 1, 2007
Leslie Lipschitz |
Wising Up about Finance With tighter links between national economies and global financial markets, better financial analysis is critical to macroeconomic management. |
Finance & Development
March 1, 2000
Andrew Berg & Eduardo Borensztein |
The Dollarization Debate Full dollarization of the economy is widely discussed as a way of enabling developing countries to overcome monetary and exchange rate instability. What are the costs and benefits of dollarizing, and which developing countries are most likely to benefit? |
Finance & Development
September 1, 2000
Paul Hilbers, Russell Krueger, & Marina Moretti |
New Tools for Assessing Financial System Soundness Macroprudential indicators--defined broadly as indicators of the health and stability of the financial system--can help countries assess their banking systems' vulnerability to crisis. In recent years, an increasing amount of work has been done on such indicators... |
Finance & Development
December 1, 2002
Christian Mulder |
Assessing the Dangers Spotting vulnerability to financial risks is key to preventing crises. |
Finance & Development
December 1, 2000
Dadush, Dasgupta, & Ratha |
The Role of Short-Term Debt in Recent Crises The 1990s witnessed a boom in short-term lending by international banks to developing countries that lasted until Asia's financial crisis erupted in 1997. By 1997, nearly 60 percent of all outstanding international bank claims on developing countries had a remaining maturity of less than one year. |
Finance & Development
March 2011
Jorge Canales-Kriljenko et al. |
Ending Instability How monetary policy reforms helped propel five major Latin American countries from recurrent crises to economic stability. |
Finance & Development
December 2011
Eswar S. Prasad |
Role Reversal Emerging economies are less dependent on debt, less vulnerable to volatile investment sentiment, and are rethinking the role of capital flows |
Finance & Development
June 1, 2001
Ronald McKinnon |
Can the World Economy Afford U.S. Tax Cuts? The international dollar standard redux... |
Finance & Development
March 1, 2006
Lane & Milesi-Ferretti |
Examining Global Imbalances What new data tell us about the external wealth of nations. |
Finance & Development
March 1, 2007
Bertuch-Samuels & Ramlogan |
The Euro: Ever More Global The euro's future use will be shaped by factors largely outside policymakers' control. |
Finance & Development
December 1, 2002
Fasano & Iqbal |
Common Currency GCC (Cooperation Council of the Arab States of the Gulf) countries face fundamental choices as they head for monetary union. |
Finance & Development
December 1, 2008
Kang & Miniane |
Global Financial Turmoil Tests Asia As the global financial crisis spreads, how will Asia weather the storm? |
Finance & Development
September 2010
Adelheid Burgi-Schmelz |
Finding New Data The global crisis revealed vast gaps in international financial statistics that authorities are working to fill. |
Finance & Development
September 1, 2000
Torsten Slok |
Can Monetary Policy Be Effective During Transition? Mongolia has undergone dramatic changes during its transition to a market economy, with fundamental restructuring in both the real economy and the financial sector. How effective is monetary policy in such a changing environment? |
Finance & Development
March 1, 2007
Yaga Venugopal Reddy |
Point of View: Converting a Tiger The Reserve Bank of India's governor offers lessons from the country's gradualist approach to capital account convertibility. |
Finance & Development
March 1, 2002
Haizhou Huang & S. Kal Wajid |
Financial Stability in the World of Global Finance To reduce their vulnerability to national and international financial crises, countries must address the weaknesses in their financial systems... |
Finance & Development
December 1, 2008
Ingves & Lind |
Stockholm Solutions A crucial lesson from the Nordic experience is the need for prominent state involvement in crisis resolution. |
Finance & Development
March 1, 2001
Alvin D.L. Hilaire |
Economic Stabilization in the Caribbean Barbados, Guyana, Jamaica, and Trinidad and Tobago simultaneously tackled serious economic difficulties in the early 1990s. The results of their adjustment programs demonstrate that fiscal reform, supported by other policies, may be the key to achieving a sustainable recovery... |
Finance & Development
March 1, 2002
Kenneth S. Rogoff |
The Surprising Popularity of Paper Currency Will the global underground economy be the prime destination for those large euro notes? |
Finance & Development
March 2009
Brad Setser |
The Shape of Things to Come Individual national decisions, not international summits, will remake the global financial system. |
Finance & Development
March 1, 2000
Pedro Pou |
Argentina's Structural Reforms of the 1990s Argentina experienced serious economic and financial difficulties in the 1980s. Hyperinflation in 1989-90 finally elicited the necessary political consensus for reform. Despite areas of concern, structural reforms implemented in the 1990s have set Argentina on the path to sustained growth. |
Finance & Development
June 2009
Randall Dodd |
Playing with Fire Firms across the spectrum of emerging markets entered into exotic derivative contracts that caused massive losses |
Finance & Development
March 1, 2003
Jbili & Kramarenko |
Should MENA Countries Float or Peg? As they open up their economies, MENA countries may need to rethink their exchange rate regimes |
Finance & Development
March 2009
Kodres & Narain |
What Is to Be Done While there is enough blame to pass around, one key contributor to the global financial crisis was inadequate regulation. The scope of financial regulation needs to be revamped and the provision of liquidity improved. Here's how. |
Finance & Development
March 2008
Stone et al. |
Back to Basics The exchange rate regime has a big impact on world trade and financial flows, thereby making it a central piece of any national economic policy framework. |
Finance & Development
September 1, 2000
Roger Nord |
Central and Eastern Europe and the New Financial Architecture As the Central and Eastern European countries prepare to join the European Union, they are participating in worldwide efforts to strengthen the global economy... |
Finance & Development
December 1, 2005
Carstens & Luis I. Jacome H. |
Taming the Monster How Latin America's central banks survived hyperinflation to become guardians of price stability. |
FDIC FYI
March 26, 2003 |
Derivatives Risk in Commercial Banking Derivatives serve an essential role in the U.S. and world economies but also present certain risks to the deposit insurance funds. This article explains what these risks are and describes how they are managed within commercial banking. |
Finance & Development
March 1, 2002
Gerd Hausler |
The Globalization of Finance Financial globalization has brought considerable benefits to national economies and to investors and savers, but it has also changed the structure of markets, creating new risks and challenges for market participants and policymakers... |
Finance & Development
March 1, 2001
R.D. Asante & Paul Robert Masson |
The Pros and Cons of Expanded Monetary Union in West Africa A conversation with Jacqueline Irving of the IMF's External Relations Department... |
Finance & Development
March 1, 2000
Claudio M. Loser & Martine Guerguil |
The Long Road to Financial Stability Most countries in Latin America and the Caribbean weathered the economic crises of the late 1990s better than expected, thanks to the policy reforms of the past two decades. Further reform is urgently needed, however, to put the region on a faster growth path and reduce its vulnerability to external shocks. |
Finance & Development
June 2011 |
Esprit de Currency The IMF and WTO must pull together to iron out exchange rate policy disputes. |
Finance & Development
December 1, 2008
Noel Sacasa |
Preventing Future Crises The financial crisis has exposed weaknesses in the current regulatory and supervisory frameworks and made it clear that we are in need of regulatory reform. |
OCC Bulletin
July 15, 1999 |
Summary of the Basel Committee's Consultative Document: "A New Capital Adequacy Framework" The paper describes a framework for bank supervision and regulation that contains three "pillars" -- a regulatory capital minimum, an enhanced supervisory review process, and more effective use of market discipline through disclosure. |
Finance & Development
March 1, 2002
Carmen M. Reinhart & Vincent Reinhart |
Is a G-3 Target Zone on Target for Emerging Markets? Would the exchange rate stability created by a target zone for the world's three most important currencies be in the best interests of emerging market countries? A recent study suggests such stability might come at the price of more volatile interest rates, making this a difficult question... |
Finance & Development
September 1, 2000
Enzo Croce & Mohsin S. Khan |
Monetary Regimes and Inflation Targeting Inflation targeting---a framework for monetary policy that commits the central bank to achieving low inflation---has enjoyed considerable success among industrial countries in helping to maintain price stability... |
Finance & Development
June 1, 2001
Stanley Fischer |
Exchange Rate Regimes: Is the Bipolar View Correct? During the past decade, many countries have changed their exchange rate regimes, moving from crisis-prone soft pegs to hard pegs or floating regimes. This trend is likely to continue, particularly among emerging market countries... |
Finance & Development
June 1, 2005
de la Torre & Schmukler |
Small Fish, Big Pond What is the future for developing country capital markets in a globalized economy? |
Finance & Development
March 1, 2006
Hilbers, Otker-Robe & Pazarba |
Going too Fast? Managing rapid credit growth in Central and Eastern Europe. |
Finance & Development
December 2009
Ghosh & Ostry |
Choosing an Exchange Rate Regime A new look at an old question: Should countries fix, float, or choose something in between? |
Finance & Development
September 2009
Carlo Cottarelli & Jose Vinals |
Looking Ahead Countries must begin now to devise economic strategies to accompany the recovery. |
Finance & Development
March 1, 2001 |
Book reviews Robert Solomon's Money on the Move: The Revolution in International Finance Since 1980... Distributive Justice and Economic Development: The Case of Chile and Developing Countries... Ruth de Krivoy's Collapse: The Venezuelan Banking Crisis of '94... etc. |
Finance & Development
September 2009
Jeffrey A. Frankel |
Anticipating the Next Crisis What can early warning systems be expected to deliver to predict the next economic crisis? |
Finance & Development
September 2008
Prasad & Rajan |
Next Generation Financial Reforms for India A new report advocates a shake-up in India's financial system to underpin growth |
Finance & Development
June 1, 2007
Traa & Carare |
A Government's Net Worth A new tool in surveillance, the public sector balance sheet, can help diagnose vulnerabilities that are not immediately visible in the budget. |
Reason
February 2004
Callahan & Kaza |
In Defense of Derivatives Between Enron, WorldCom, and Global Crossing, the controversial financial instruments have gotten a bad rap. Here's the truth. |
Finance & Development
December 1, 2002
Christina Daseking |
Debt: How Much Is Too Much? As part of the work on vulnerability indicators, economists are looking at what level of debt is sustainable for an economy and how much is too much. |
