Review Of The Institutional View On The Liberalization And Management Of Capital Flows Background Note On Using The Ipf Analytical Toolkit To Enhance Policy Assessments

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Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Using the IPF Analytical Toolkit to Enhance Policy Assessments

Marcin Kolasa,Gurnain Kaur Pasricha,Mr. Suman S Basu,Ms. Emine Boz,Dimitre Milkov
Review of The Institutional View on The Liberalization and Management of Capital Flows Background Note on Using the IPF Analytical Toolkit to Enhance Policy Assessments Book PDF

Author : Marcin Kolasa,Gurnain Kaur Pasricha,Mr. Suman S Basu,Ms. Emine Boz,Dimitre Milkov
Publisher : International Monetary Fund
Page : 4 pages
File Size : 42,6 Mb
Release : 2022-03-30
Category : Business & Economics
ISBN : 9798400206528

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Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Using the IPF Analytical Toolkit to Enhance Policy Assessments by Marcin Kolasa,Gurnain Kaur Pasricha,Mr. Suman S Basu,Ms. Emine Boz,Dimitre Milkov Pdf

Insights from the IPF workstream can help guide the appropriate policy mix during an inflow surge, based on the shock and country characteristics. Inflow surges may be caused by a range of shocks and can take different forms in different countries. The IPF models suggest that warranted macroeconomic policy adjustments depend on the nature of the shock and country characteristics. The IPF models point to shocks and country characteristics that make it difficult to effectively respond to surges using only macroeconomic policy and exchange rate adjustment. The IPF models also suggest that, in the presence of overheating and overvaluation, the use of FXI and CFMs can enhance monetary autonomy in certain circumstances without generating other distortions. The relative costs and benefits of FXI and CFMs depend on country-specific factors. The IPF models also illustrate how surges can lead to a build-up of systemic financial risks. The IPF workstream connects the appropriate mix of MPMs and CFM/MPMs to the structure of the country's financial system.

Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Capital Flows and Capital Flow Management Measures — Benefits and Costs

Gurnain Kaur Pasricha,Erlend Nier
Review of The Institutional View on The Liberalization and Management of Capital Flows Background Note on Capital Flows and Capital Flow Management Measures Benefits and Costs Book PDF

Author : Gurnain Kaur Pasricha,Erlend Nier
Publisher : International Monetary Fund
Page : 23 pages
File Size : 50,7 Mb
Release : 2022-03-30
Category : Business & Economics
ISBN : 9798400205491

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Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Capital Flows and Capital Flow Management Measures — Benefits and Costs by Gurnain Kaur Pasricha,Erlend Nier Pdf

The Fund’s Institutional View (IV) recognizes the benefits of and risks associated with capital flows. Since the IV was adopted, a growing literature has provided additional insights into the benefits and risks from capital flows. This note summarizes the insights from the recent literature and the experiences of staff since the adoption of the IV that have informed this review.

Review of The Institutional View on The Liberalization and Management of Capital Flows

International Monetary Fund
Review of The Institutional View on The Liberalization and Management of Capital Flows Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 98 pages
File Size : 53,9 Mb
Release : 2022-03-30
Category : Business & Economics
ISBN : 9798400204593

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Review of The Institutional View on The Liberalization and Management of Capital Flows by International Monetary Fund Pdf

The Institutional View (IV) on the Liberalization and Management of Capital Flows, adopted in 2012, provides the basis for consistent advice, and where relevant, assessments on policies related to capital flows. This paper reviews the IV, informed by advances in research, notably the work on an Integrated Policy Framework (IPF), the findings of the 2020 evaluation by the Independent Evaluation Office (IEO) on IMF Advice on Capital Flows, and staff’s experience with the implementation of the IV. The core premises and objectives of the IV remain unchanged. The IV rests on the premises that capital flows are desirable as they can bring substantial benefits for countries, and that capital flow management measures (CFMs) can be useful in certain circumstances but should not substitute for warranted macroeconomic adjustment. With those premises in mind, the IV aims to help countries reap the benefits of capital flows, while managing the associated risks in a way that preserves macroeconomic and financial stability and does not generate significant negative outward spillovers.

Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Assessing Systemic Financial Stability Risks Due to FX Mismatches

International Monetary Fund
Review of The Institutional View on The Liberalization and Management of Capital Flows Background Note on Assessing Systemic Financial Stability Risks Due to FX Mismatches Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 18 pages
File Size : 40,5 Mb
Release : 2022-03-30
Category : Business & Economics
ISBN : 9798400206016

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Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Assessing Systemic Financial Stability Risks Due to FX Mismatches by International Monetary Fund Pdf

This note outlines the approach of the proposed revision to the Institutional View (IV) when assessing whether systemic financial stability risks are elevated due to foreign currency (FX) mismatches. The approach builds on the staff guidance regarding risk assessments in bilateral surveillance, while allowing for flexibility to draw on future advances in best practice. This note proposes a two-step approach to assess systemic risks from FX mismatches. This note is organized as follows. Section II outlines the sources of systemic risks stemming from FX debt and potential amplification channels. Section III outlines the risk assessment approach in practice and Section IV concludes.

Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Principles for the Design of Measures to Address Systemic Risks from FX Mismatches

Mr. Heedon Kang,Mr. Paavo A Miettinen,Erlend Nier,Mr. Thorvardur Tjoervi Olafsson,Gurnain Kaur Pasricha
Review of The Institutional View on The Liberalization and Management of Capital Flows Background Note on Principles for the Design of Measures to Address Systemic Risks from FX Mismatches Book PDF

Author : Mr. Heedon Kang,Mr. Paavo A Miettinen,Erlend Nier,Mr. Thorvardur Tjoervi Olafsson,Gurnain Kaur Pasricha
Publisher : International Monetary Fund
Page : 6 pages
File Size : 43,6 Mb
Release : 2022-03-30
Category : Business & Economics
ISBN : 9798400206238

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Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Principles for the Design of Measures to Address Systemic Risks from FX Mismatches by Mr. Heedon Kang,Mr. Paavo A Miettinen,Erlend Nier,Mr. Thorvardur Tjoervi Olafsson,Gurnain Kaur Pasricha Pdf

This note describes the key principles for the design and implementation of preemptive CFM/MPMs. These measures should be designed to be effective—so they achieve their intended goal and are not easily circumvented—and efficient—so they minimize distortions and costs. Preemptive CFM/MPMs should be targeted, calibrated to risks, transparent, and as temporary as possible. The appropriate design depends on country circumstances, such as institutional and legal constraints, as well as the precise source of the vulnerability. Where measures that do not discriminate by residency are available and effective, they should be preferred.

Guidance Note for the Liberalization and Management of Capital Flows

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
Guidance Note for the Liberalization and Management of Capital Flows Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 33 pages
File Size : 47,6 Mb
Release : 2013-04-25
Category : Business & Economics
ISBN : 9781498341929

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Guidance Note for the Liberalization and Management of Capital Flows by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department Pdf

This note provides operational guidance to staff for how to use the Fund’s institutional view on the liberalization and management of capital flows. The institutional view is a consistent basis for providing policy advice on capital flows and policies related to them and assessments when required for surveillance. In the absence of an institutional view, country teams risk providing inconsistent advice to countries in similar circumstances (IEO, 2005). The view does not have mandatory implications for Fund-supported programs or technical assistance. It does not alter members’ rights and obligations under the Fund’s Articles of Agreement or under any other international agreements. The institutional view and guidance will evolve over time to reflect new experience, emerging views of authorities and staff, and research. Staff teams are encouraged to reflect useful lessons from authorities’ experiences with capital flow liberalization and management in Fund reports so that these experiences can continue to influence the Fund’s approach to these issues.

Capital Flows - Review of Experience with the Institutional View

International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Statistics Dept.
Capital Flows Review of Experience with the Institutional View Book PDF

Author : International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Statistics Dept.
Publisher : International Monetary Fund
Page : 61 pages
File Size : 46,9 Mb
Release : 2016-07-11
Category : Business & Economics
ISBN : 9781498345057

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Capital Flows - Review of Experience with the Institutional View by International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department,International Monetary Fund. Research Dept.,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Statistics Dept. Pdf

Capital flows are an important aspect of the international monetary system. They provide significant benefits, both direct and indirect. At the same time, they also carry risks, and a key challenge for countries is how to harness the benefits while managing the risks. The institutional view on the liberalization and management of capital flows provides the Fund with a basis for consistent advice on policies related to capital flows. This paper reviews countries’ experiences with handling capital flows in the period since the adoption of the IMF’s institutional view in 2012. Based on the experience, it identifies a few areas in which the view would benefit from further clarification or elaboration.

The Liberalization and Management of Capital Flows - An Institutional View

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
The Liberalization and Management of Capital Flows An Institutional View Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 49 pages
File Size : 41,8 Mb
Release : 2012-04-11
Category : Business & Economics
ISBN : 9781498339612

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The Liberalization and Management of Capital Flows - An Institutional View by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Legal Dept.,International Monetary Fund. Monetary and Capital Markets Department Pdf

Capital flows have increased significantly in recent years and are a key aspect of the global monetary system. They offer potential benefits to countries, but their size and volatility can also pose policy challenges. The Fund needs to be in a position to provide clear and consistent advice with respect to capital flows and policies related to them. In 2011, the International Monetary and Financial Committee (IMFC) called for ?further work on a comprehensive, flexible, and balanced approach for the management of capital flows.? This paper proposes an institutional view to underpin this approach, drawing on earlier Fund policy papers, analytical work, and Board discussions on capital flows.

Toward an Integrated Policy Framework

International Monetary Fund
Toward an Integrated Policy Framework Book PDF

Author : International Monetary Fund
Publisher : INTERNATIONAL MONETARY FUND
Page : 54 pages
File Size : 42,5 Mb
Release : 2020-10-08
Category : Business & Economics
ISBN : 1513558765

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Toward an Integrated Policy Framework by International Monetary Fund Pdf

Policymakers often face difficult tradeoffs in pursuing domestic and external stabilization objectives. The paper reflects staff’s work to advance the understanding of the policy options and tradeoffs available to policymakers in a systematic and analytical way. The paper recognizes that the optimal path of the IPF tools depends on structural characteristics and fiscal policies. The operational implications of IPF findings require careful consideration. Developing safeguards to minimize the risk of inappropriate use of IPF policies will be essential. Staff remains guided by the Fund’s Institutional View (IV) on the Liberalization and Management of Capital Flows.

Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

International Monetary,International Monetary Fund. Asia and Pacific Dept
Thailand 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Thailand Book PDF

Author : International Monetary,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 104 pages
File Size : 55,8 Mb
Release : 2021-06-03
Category : Business & Economics
ISBN : 9781513573021

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Thailand: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand by International Monetary,International Monetary Fund. Asia and Pacific Dept Pdf

A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.

Coordinated Portfolio investment Survey

International Monetary Fund
Coordinated Portfolio investment Survey Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 180 pages
File Size : 47,8 Mb
Release : 1997-01-01
Category : Business & Economics
ISBN : 9781455216567

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Coordinated Portfolio investment Survey by International Monetary Fund Pdf

This paper presents a coordinated portfolio investment survey guide provided to assist national compilers in the conduct of the Coordinated Portfolio Investment Survey, conducted under the auspices of the IMF with reference to the year-end 1997. The guide covers a variety of conceptual issues that a country must address when conducting a survey. It also covers the practical issues associated with preparing for a national survey. These include setting a timetable, taking account of the legal and confidentiality issues raised, developing a mailing list, and maintaining quality control checks.

The European Union, the World Bank and the Policymaking of Aid

Eugenia Baroncelli
The European Union the World Bank and the Policymaking of Aid Book PDF

Author : Eugenia Baroncelli
Publisher : Routledge
Page : 267 pages
File Size : 55,8 Mb
Release : 2019-01-03
Category : Political Science
ISBN : 9781317032793

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The European Union, the World Bank and the Policymaking of Aid by Eugenia Baroncelli Pdf

Based on the experience of the author, an IPE scholar and former trade policy consultant at the World Bank (WB), the book offers an in-depth exploration of the EU–WB relations, conceptualized as hybrid delegation. Coupling cross-time analyses of their interaction in the regions of the Middle East and North Africa, Europe and Central Asia and Sub-Saharan Africa with an original investigation on the coordination among the EU member states at the Executive Board of the International Bank for Reconstruction and Development over the ‘voice and participation reform’ of 2008–2010, the book advances an innovative theoretical framework to assess the EU–WB joint institutional and field policy performances. Augmented PA models of delegation, role theory and performance analyses are engaged, and selectively recombined, to investigate the nature, evolution and impact of the interactions of the two organizations, both in their everyday and constituent politics. Hybrid delegation-in-motion is reconstructed, against the background of post-Washington Consensus and post-Lisbon EU, to unveil the changing division of labour between the two largest development multilaterals of the new global context. The book will be of interest to scholars, students and practitioners in European Politics, Development, International Relations, International Political Economy and Global Economic Governance.

Development Economics

Alain de Janvry,Elisabeth Sadoulet
Development Economics Book PDF

Author : Alain de Janvry,Elisabeth Sadoulet
Publisher : Routledge
Page : 573 pages
File Size : 54,8 Mb
Release : 2021-05-30
Category : Business & Economics
ISBN : 9781000378535

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Development Economics by Alain de Janvry,Elisabeth Sadoulet Pdf

This second edition of Development Economics: Theory and Practice continues to provide students and practitioners with the perspectives and tools they need to think analytically and critically about the current major economic development issues in the world. Alain de Janvry and Elisabeth Sadoulet identify seven key dimensions of development—growth, poverty, vulnerability, inequality, basic needs, sustainability, and quality of life—and use them to structure the contents of the text. The book gives a historical perspective on the evolution of thought in development. It uses theory and empirical analysis to present readers with a full picture of how development works, how its successes and failures can be assessed, and how alternatives can be introduced. The authors demonstrate how diagnostics, design of programs and policies, and impact evaluation can be used to seek new solutions to the suffering and violence caused by development failures. In the second edition, more attention has been given to ongoing developments, such as: pursuit of the Sustainable Development Goals continuously rising global and national inequality health as a domestic and international public good cash transfers for social protection carbon trading for sustainability This text is fully engaged with the most cutting-edge research in the field and equips readers with analytical tools for impact evaluation of development programs and policies, illustrated with numerous examples. It is underpinned throughout by a wealth of student-friendly features, including case studies, quantitative problem sets, end-of-chapter questions, and extensive references. Excel and Stata exercises are available as digital supplements for students and instructors. This unique text is ideal for those taking courses in development economics, economic growth, and development policy, and will provide an excellent foundation for those wishing to pursue careers in development.

Alternative Paths to Public Financial Management and Public Sector Reform

Sokbunthoeun So,Michael Woolcock,Leah April,Caroline Hughes
Alternative Paths to Public Financial Management and Public Sector Reform Book PDF

Author : Sokbunthoeun So,Michael Woolcock,Leah April,Caroline Hughes
Publisher : World Bank Publications
Page : 163 pages
File Size : 40,6 Mb
Release : 2018-08-31
Category : Political Science
ISBN : 9781464813160

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Alternative Paths to Public Financial Management and Public Sector Reform by Sokbunthoeun So,Michael Woolcock,Leah April,Caroline Hughes Pdf

Reforming public-sector organizations--their structures, policies, processes and practices--is notoriously difficult, in rich and poor countries alike. Even in the most favorable of circumstances, the scale and complexity of the tasks to be undertaken are enormous, requiring levels of coordination and collaboration that may be without precedent for those involved. Entirely new skills may need to be acquired by tens of thousands of people. Compounding these logistical challenges is the pervasive reality that circumstances often are not favorable to large-scale reform. Whether a country is rich or poor, the choice is not whether, but how, to reform the public sector--how optimal design characteristics, robust political support, and enhanced organizational capability to implement and adapt will be forged over time. This edited volume helps address the “how†? question. It brings together reform experiences in public financial management and the public sector more broadly from eight country cases in East Asia: Cambodia, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, Papua New Guinea, Thailand, and Vietnam. These countries are at different stages of reform; most of the reform efforts would qualify as successes, while some had mixed outcomes, and others could be considered failures. The focus of each chapter is less on formally demonstrating success (or not) of specific reform, but on documenting how reformers maneuvered within different country contexts to achieve specific outcomes. Despite the great difficulty in reforming the public sector, decision-makers can draw renewed energy and inspiration, learning from those countries, sectors, and subnational spaces where substantive (not merely cosmetic) change has been achieved, and they can identify what pitfalls to avoid.

Financing for Sustainable Development Report 2021

United Nations
Financing for Sustainable Development Report 2021 Book PDF

Author : United Nations
Publisher : UN
Page : 208 pages
File Size : 51,6 Mb
Release : 2021-05-30
Category : Electronic
ISBN : 9211014425

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Financing for Sustainable Development Report 2021 by United Nations Pdf

This report assesses progress in implementing the commitments and actions in the Addis Ababa Action Agenda. The global economic recession and financial turmoil from COVID-19 (coronavirus) are derailing implementation of the Agenda and achievement of the Sustainable Development Goals (SDGs). Even before the pandemic, the 2020 Financing for Sustainable Development Report (FSDR) of the Inter-agency Task Force noted that there was backsliding in many areas. Due to the crisis, global financial markets have witnessed heavy losses and intense volatility. Particularly worrisome is the prospect of a new debt crisis. The FSDR highlights both immediate and longer-term actions, including arresting the backslide, to respond to the COVID-19 crisis. Recommendations are included in the report.