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The Growth and Stabilization Properties of Fiscal Policy in Malaysia

The Growth and Stabilization Properties of Fiscal Policy in Malaysia »

Volume/Issue: 2013/149

Series: IMF Working Papers

Author(s): Sohrab Rafiq

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2013

DOI: http://dx.doi.org/10.5089/9781484337912.001

ISBN: 9781484337912

Keywords: Stabilization, Multipliers, Time-variation, government spending, fiscal multipliers, fiscal stimulus, government spending shocks, Monetary Policy (Targets, Instruments, and Effects)

This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the effectiveness of fiscal...

Future of Asia's Finance
			: How Can it Meet Challenges of Demographic Change and Infrastructure Needs?

Future of Asia's Finance : How Can it Meet Challenges of Demographic Change and Infrastructure Needs? »

Volume/Issue: 2014/126

Series: IMF Working Papers

Author(s): Ding Ding , Waikei Lam , and Shanaka Peiris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2014

DOI: http://dx.doi.org/10.5089/9781498321082.001

ISBN: 9781498321082

Keywords: Demographic change, infrastructure financing, financial deepening, financial integration, capital and financial flows, bond, financial markets, financial sector development, bonds, Models with Panel Data

There is a role for Asia's financial sector to play to address the challenges associated with the region's changing demographics and infrastructure investment needs. Enhancing financial innovation and integration i...

Asia's Quest for Inclusive Growth Revisited

Asia's Quest for Inclusive Growth Revisited »

Volume/Issue: 2015/42

Series: IMF Working Papers

Author(s): Chie Aoyagi , and Giovanni Ganelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 2015

DOI: http://dx.doi.org/10.5089/9781498340144.001

ISBN: 9781498340144

Keywords: inequality, growth, poverty, gini index, Equity, Justice, and Other Normative Criteria and Measurement, Economic Growth of Open Economies, Macroeconomic Analyses of Economic Development,

Despite the rapid economic growth and poverty reduction, inequality in Asia worsened during last two decades. We focus on the determinants of growth inclusiveness and suggest options for reform. A cross cross-count...

Capital Controls or Macroprudential Regulation?

Capital Controls or Macroprudential Regulation? »

Volume/Issue: 2015/218

Series: IMF Working Papers

Author(s): Anton Korinek , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2015

DOI: http://dx.doi.org/10.5089/9781513506463.001

ISBN: 9781513506463

Keywords: pecuniary externalities, macroprudential regulation, inequality, exchange rate, exchange, lenders, borrowers, markets, International Lending and Debt Problems, Open Economy Macroeconomics

International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital...

Balance Sheets, Exchange Rate Policy, and Welfare

Balance Sheets, Exchange Rate Policy, and Welfare »

Volume/Issue: 2004/63

Series: IMF Working Papers

Author(s): Selim Elekdag , and Ivan Tchakarov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

DOI: http://dx.doi.org/10.5089/9781451848458.001

ISBN: 9781451848458

Keywords: financial accelerator, debt-to-GDP threshold, second-order approximation, exchange rate, exchange rate regimes, exchange rate regime, flexible exchange rate, fixed exchange rate, Open Economy Macroeconomics,

The debate about the appropriate choice of exchange rate regime is fundamental in international economics. This paper develops a small open-economy model with balance sheet effects and compares the performance of f...

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia »

Volume/Issue: 2011/46

Series: IMF Working Papers

Author(s): Damiano Sandri , Pau Rabanal , and Isabelle Mejean

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

DOI: http://dx.doi.org/10.5089/9781455218967.001

ISBN: 9781455218967

Keywords: Rebalancing, Intermediate Inputs, terms of trade, tradable goods, exchange rate, export prices, Open Economy Macroeconomics, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the...

Fiscal Stimulus and Credibility in Emerging Countries

Fiscal Stimulus and Credibility in Emerging Countries »

Volume/Issue: 2010/123

Series: IMF Working Papers

Author(s): Magda Kandil , and Hanan Morsy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

DOI: http://dx.doi.org/10.5089/9781455200825.001

ISBN: 9781455200825

Keywords: credibility, effectiveness, cyclicality, fiscal impulse, exchange rate, fiscal expansion, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics,

Across a sample of thirty four emerging countries, the evidence shows the frequent existence of a pro-cyclical fiscal impulse. However, the scope for countercyclical policy increases with the availability of intern...

On the Solvency of Nations
			: Are Global Imbalances Consistent with Intertemporal Budget Constraints?

On the Solvency of Nations : Are Global Imbalances Consistent with Intertemporal Budget Constraints? »

Volume/Issue: 2010/50

Series: IMF Working Papers

Author(s): Enrique Mendoza , Marco Terrones , and Ceyhun Bora Durdu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

DOI: http://dx.doi.org/10.5089/9781451963298.001

ISBN: 9781451963298

Keywords: external solvency, Poled Mean Group estimation, foreign assets, net foreign assets, equation, statistics, industrial countries, Open Economy Macroeconomics, General Outlook and Conditions,

Theory predicts that a nation's stochastic intertemporal budget constraint is satisfied if net exports (NX) and net foreign assets (NFA) satisfy an error-correction specification with a residual integrated of any f...

Are the Asia and Pacific Small States Different from Other Small States?

Are the Asia and Pacific Small States Different from Other Small States? »

Volume/Issue: 2013/123

Series: IMF Working Papers

Author(s): Patrizia Tumbarello , Ezequiel Cabezon , and Yiqun Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2013

DOI: http://dx.doi.org/10.5089/9781484339190.001

ISBN: 9781484339190

Keywords: micro states, Pacific islands, growth, volatility, terms of trade, trade openness, current account balance, external shocks, trade deficits, Open Economy Macroeconomics

The small states of the Asia and Pacific region face unique challenges in raising their growth potential and living standards relative to other small states due to their small populations, geographical isolation an...

The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries
			: The Case of Thailand

The Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries : The Case of Thailand »

Volume/Issue: 2006/110

Series: IMF Working Papers

Author(s): Ivan Tchakarov , and Selim Elekdag

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

DOI: http://dx.doi.org/10.5089/9781451863703.001

ISBN: 9781451863703

Keywords: Exchange rate regimes, Global Economy Model (GEM), financial accelerator, balance sheets, exchange rate, flexible exchange rate, exchange rate regime, bond, bond market, Open Economy Macroeconomics

Emerging market countries have enjoyed an exceptionally favorable economic environment throughout 2004, 2005, and early 2006. In particular, accommodative U.S. monetary policy in recent years has helped create an e...