International Monetary And Financial Integration

Author : Mr.Gian Milesi-Ferretti,Mr.Philip R. Lane
Publisher : International Monetary Fund
Page : 46 pages
File Size : 50,9 Mb
Release : 2003-04-01
Category : Business & Economics
ISBN : 9781451850901

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International Financial Integration by Mr.Gian Milesi-Ferretti,Mr.Philip R. Lane Pdf

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.

Author : D.E. Fair,C. de Boissieu
Publisher : Springer Science & Business Media
Page : 394 pages
File Size : 41,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400936515

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International Monetary and Financial Integration — The European Dimension by D.E. Fair,C. de Boissieu Pdf

The papers collected in this volume are those presented at the thirteenth Colloquium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Luxembourg in October 1986. The Society issupported byalargenumberofcentralbanksandcommer cial banks, byother financial and business institutions, by treasury officials and by academics and others interested in monetary and financial prob lems. Since its establishment in 1963 it has developed as a forum for the exchange of information, research results and ideas, valued by academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major 'activity of SUERF is to organize and conduct Colloquia on subjects of topical interest to its mem bers. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title 'Monetary Policy and New Develop ments inBanking'andatStrasbourg, France inJanuary 1972underthe title 'Aspects ofEuropean Monetary Union'. The previous SUERF Colloquium, at Cambridge in March 1985, had as its subject 'Shifting Frontiers in Financial Markets'

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 141 pages
File Size : 45,7 Mb
Release : 2006-05-09
Category : Business & Economics
ISBN : 9781589064928

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Central America by International Monetary Fund Pdf

Intraregional financial activity in Central America has grown substantially in the past decade, contributing to efficiency and economic development. At the same time, the expansion of activities by regional conglomerates has increased the challenges to supervisory authorities of containing the risks of contagion. Prepared as part of the Central America Financial Sector Regional Project by an IMF and World Bank staff team, this book outlines trends in the region's financial sector integration, supervisory responses, development of the insurance sector, payment and securities settlement arrangements, and worker remittances. It addresses the many common policy challenges facing Central American countries--Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama--in financial sector reform. The book offers key policy recommendations.

Author : Anonim
Publisher : Unknown
Page : 403 pages
File Size : 46,9 Mb
Release : 1988
Category : Electronic
ISBN : 9024726050

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International Monetary and Financial Integration - the European Dimension by Anonim Pdf

Author : Pierre-Richard Agénor
Publisher : World Bank Publications
Page : 68 pages
File Size : 46,6 Mb
Release : 2001
Category : Capital movements
ISBN : 8210379456XXX

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Benefits and Costs of International Financial Integration by Pierre-Richard Agénor Pdf

This literature review joins with recent studies in arguing that financial integration must be carefully prepared and managed to ensure that the benefits outweigh the short-run risks. But in contrast with some other studies, it adopts a more skeptical view of the benefits of capital flows other than foreign direct investment.

Author : Lars Oxelheim
Publisher : Springer Science & Business Media
Page : 404 pages
File Size : 48,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642612930

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International Financial Integration by Lars Oxelheim Pdf

There is widespread agreement in the current social and economic debate that the nations of the world are becoming increasingly integrated. Many structural signs in society also suggest that this is so. Integration has become a catchword in the prepara tions for the internal market of the EC, and a keynote in the debate about association for the European countries which do not belong to the Community. But when we turn to the question of how this integration should be measured, there is very little con sensus. Instead there are numerous problems, not only about how to measure integra tion but even about how to define it. In this book I shall discuss the import and implications of a particular type of integration, namely financial integration, and then look at the most important problems connected with measuring it. In the empirical investigation reported below I felt the need for an integrated micro-macro approach. Further, I decided to illustrate the measurement problems by studying a small and relatively open economy where exchange controls have been imposed by the government in an attempt to reduce the flow of interest-sensitive capital out of the country, and thus to acquire autonomy for the national monetary policy. An interview study has been carried out with a view to illustrating among other things how expectations are formed among the major actors on the financial market, and this provided additional input for an analysis of the level of financial integration.

Author : Luc Eyraud,Ms.Diva Singh,Mr.Bennett W Sutton
Publisher : International Monetary Fund
Page : 32 pages
File Size : 40,7 Mb
Release : 2017-01-18
Category : Business & Economics
ISBN : 9781475568684

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Benefits of Global and Regional Financial Integration in Latin America by Luc Eyraud,Ms.Diva Singh,Mr.Bennett W Sutton Pdf

The timing is ripe to pursue greater regional financial integration in Latin America given the withdrawal of some global banks from the region and the weakening of growth prospects. Important initiatives are ongoing to foster financial integration. Failure to capitalize on this would represent a significant missed opportunity. This paper examines the scope for further global and regional financial integration in Latin America, based on economic fundamentals and comparisons to other emerging regions, and quantifies the potential macroeconomic gains that such integration could bring. The analysis suggests that closing the financial integration gap could boost GDP growth be 1⁄4 - 3⁄4 percentage point in these countries, on average.

Author : Donald E. Fair,Michel Aglietta
Publisher : Unknown
Page : 403 pages
File Size : 46,9 Mb
Release : 1988
Category : Electronic
ISBN : 9024726050

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International monetary and financial integration by Donald E. Fair,Michel Aglietta Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 40 pages
File Size : 46,6 Mb
Release : 1989-12-14
Category : Business & Economics
ISBN : 9781451948318

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Saving, Investment, Financial Integration, and the Balance of Payments by International Monetary Fund Pdf

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.

Author : Mr.Alexander K. Swoboda,Mr.Peter B. Kenen
Publisher : International Monetary Fund
Page : 450 pages
File Size : 51,7 Mb
Release : 2000-12-18
Category : Business & Economics
ISBN : 1557758352

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Reforming the International Monetary and Financial System by Mr.Alexander K. Swoboda,Mr.Peter B. Kenen Pdf

This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed. Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including exchange rate volatility and misalignments; unstable capital flows to emerging market economies; abrupt capital flow reversals; and private sector involvement in crisis resolution. The IMF’s role in crisis prevention and resolution is also examined.

Author : Mr.Philip R. Lane,Mr.Gian M Milesi-Ferretti
Publisher : International Monetary Fund
Page : 53 pages
File Size : 41,6 Mb
Release : 2017-05-10
Category : Business & Economics
ISBN : 9781484300343

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International Financial Integration in the Aftermath of the Global Financial Crisis by Mr.Philip R. Lane,Mr.Gian M Milesi-Ferretti Pdf

This paper documents the evolution of international financial integration since the global financial crisis using an updated dataset on external assets and liabilities, covering over 210 economies for the period 1970-2015. It finds that the growth in cross-border positions in relation to world GDP has come to a halt. This reflects much weaker capital flows to and from advanced economies, with diminished cross-border banking activity, and an increase in the weight of emerging economies in global GDP, as these economies have lower external assets and liabilities than advanced economies. Cross-border FDI positions have continued to expand, unlike positions in portfolio instruments and other investment. This expansion reflects primarily positions vis-à-vis financial centers, suggesting that the complexity of the corporate structure of large multinational corporations is playing an important role. The paper also explores the cross-country drivers of foreign ownership of domestic debt securities, highlighting in particular the role of the euro debt crisis in explaining its evolution.

Author : A. Endres
Publisher : Springer
Page : 262 pages
File Size : 50,6 Mb
Release : 2010-11-24
Category : Business & Economics
ISBN : 9780230294646

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International Financial Integration by A. Endres Pdf

Drawing on prominent contributions by economists to the debate on international monetary reform, this book provides an historical perspective on the plans, schemes and ideas on the international financial system.

Author : Mr.Charles Enoch,Wouter Bossu,Carlos Caceres,Ms.Diva Singh
Publisher : International Monetary Fund
Page : 226 pages
File Size : 49,7 Mb
Release : 2017-04-10
Category : Business & Economics
ISBN : 9781475577136

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Financial Integration in Latin America by Mr.Charles Enoch,Wouter Bossu,Carlos Caceres,Ms.Diva Singh Pdf

With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.

Author : Sławomir Ireneusz Bukowski
Publisher : Routledge
Page : 126 pages
File Size : 42,5 Mb
Release : 2019-11-21
Category : Business & Economics
ISBN : 9780429575617

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Financial Integration in the European Monetary Union by Sławomir Ireneusz Bukowski Pdf

This book introduces readers to the world of international financial markets and their integration on a global and regional scale. The author presents the theoretical and practical issues concerning the processes of financial market integration, with a particular focus on the monetary union. The empirical research results are based on econometric modeling, thus simplifying them for a non-specialist audience, who can instead concentrate on the author’s conclusions, which comprise the results of these complicated research methods. The author outlines the role and functions of financial markets in the economy, in particular the relationship between financial intermediaries and financial markets and tackles the question of integration of new EU member countries’ financial markets within the eurozone. The integration of financial markets in an international context is inevitable, and the author argues that we must learn how to benefit from it from in terms of economic growth. This book will be a valuable resource for students of economics and finance, particularly those studying financial management and international business and finance, as well as professionals in these fields. Further, this book will be of interest to anyone looking to discover more about the problems of globalization and the integration of financial markets into the modern economy.

Author : Hali J. Edison,Ross Levine,Luca Antonio Ricci,Torsten Sløk
Publisher : INTERNATIONAL MONETARY FUND
Page : 30 pages
File Size : 41,5 Mb
Release : 2002-08-01
Category : Electronic
ISBN : 1451856555

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International Financial Integration and Economic Growth by Hali J. Edison,Ross Levine,Luca Antonio Ricci,Torsten Sløk Pdf

This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government corruption, and macroeconomic policies. Using a wide array of measures of international financial integration on 57 countries and an assortment of statistical methodologies, we are unable to reject the null hypothesis that international financial integration does not accelerate economic growth even when controlling for particular economic, financial, institutional, and policy characteristics.