Welcome to our book review site www.go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
Research Activities of the IMF, January 1991-December 1998
A selective index of major research papers prepared by IMF staff in 1991-98.
How States Shape Markets in Latin America
Why have Latin American countries developed sharply divergent financial systems—and how do these systems shape national growth strategies? While Chile built large capital markets and Brazil expanded long-term credit for firms, Argentina lags behind in both. What explains this variation? This book uncovers the political origins of national financial systems by examining how coalitions of executive-branch officials reconfigure markets through two levers: the governance of the pension system and the deployment of state-owned banks as long-term lenders. In Chile, neoliberal técnicos dismantled the state's capacity as a lender and set up regulation inducing private pension funds to invest in domestic equity and bonds. In Brazil, a developmental coalition expanded BNDES and activated state-owned-enterprise pension funds as institutional investors. By tracing how political struggles inside the state shape markets, the book offers an innovative view of statecraft and marketcraft in Latin America. It speaks to scholars of political economy—and to policy entrepreneurs working on development across the Global South.
Globalization and the International Financial System
Economic globalization has given rise to frequent and severe financial crises in emerging market economies. Other countries are also unsuccessful in their efforts to generate economic growth and reduce poverty. This book provides perspectives on various aspects of the international financial system that contribute to financial crises and growth failures, and discusses the remedies that economists have proposed for addressing the underlying problems. It also sheds light on a central feature of the international financial system that remains mysterious to many economists and most non-economists: the activities of the International Monetary Fund and the factors that influence its effectiveness. Dr Isard offers policy perspectives on what countries can do to reduce their vulnerabilities to financial crises and growth failures, and a number of general directions for systemic reform. The breadth of the agenda provides grounds for optimism that the international financial system can be strengthened considerably without revolutionary change.
IMF Staff papers
The transition strategy from administratively set interest rates to market rates is discussed. Despite worldwide trends toward financial liberalization, few monetary authorities are prepared to accept as reasonable any interest rate level that is market determined. The paper suggests some helpful indicators to assess the adequacy of interest rates and discusses factors that contribute to a smooth liberalization process. The main conclusion is that interest rate liberalization is not synonymous with laissez-faire policies, but requires the replacement of the administratively set interest rates by indirect monetary management techniques that operate through the market.
Poland
Poland's economy rebounded dramatically in 1992-93, several years after the nation embarded on a comprehensive program of economic transformation. This paper describes Polan's steps in the areas of public finance, monetary policy and financial sector reform, trade and exchange rate policy, and microeconomic liberalization, as well as the social impact of transition.
Dollarization
The international array of contributors have managed quite a feat - an interesting book that expertly draws comparisons between dollarization and Euroland. This study is a must for anyone interesting in the world of international finance.
Exchange Rates and Economic Fundamentals
This paper summarizes the methods and types of indicators that are often employed, both insid and outside the IMF, to assess whether exchange rates are broadly in line with economic fundamentals.
Bond Markets in Latin America
Developing local bond markets is high on the policy agenda of Latin America. This book's case studies of Argentina, Brazil Chile, Columbia, Mexico and Uruguay, written by country experts follow a common methodology, with each offering a history of that country's bond market development and data sets.
India
This paper explores the Indian adjustment program of 1991/92 and its initial results. The contents include long-term growth trends for output, investment, and macroeconomic condition; education, labor employment, and poverty; growth, accumulation, and productivity; results of India-specific studies; the stabilization and adjustment strategy; the response to the reforms; the impact on unemployment and poverty; the behavior of private investment; fiscal adjustment and reform; recent experience with a surge in capital inflows: overall trends, the investor base, comparison with other countries, and factors behind the flows; the impact on the economy; the sustainability of capital flows; and structural reforms and the implications for investment and growth; trade reform; the investment regime; public enterprise reform; and financial market reform.
