Effectiveness of Central Banks and Their Role in the Global Financial Crisis

Author: Shamshad Akhtar
Publisher: Asian Development Bank
ISBN: 9292547577
Format: PDF, ePub
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This study examines the role and performance of central banks in low-income countries that have faced a range of domestic and external fragilities, aggravated by the global financial crisis that started in the United States and other advanced economies. It focuses on a select group of developing member countries of the Asian Development Bank in the Caucasus, Central Asia, and South Asia that have been and will continue to be vulnerable to adverse external developments.

United Kingdom Selected Issues

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498380808
Format: PDF, ePub, Docs
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Issues and Actors in the Global Political Economy

Author: André Broome
Publisher: Macmillan International Higher Education
ISBN: 1137390476
Format: PDF, ePub, Docs
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A major new text on contemporary global political economy that focuses centrally on key issues and actors. Concise and accessibly written, it provides an ideal introduction to the contemporary dynamics and processes of change in the global political economy.

Peru Selected Issues Paper

Author: International Monetary Fund. Western Hemisphere Dept.
Publisher: International Monetary Fund
ISBN: 1484395344
Format: PDF, Mobi
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This Selected Issues paper examines application of fiscal framework alternatives to the case of Peru. Although growth has been at historical highs over the last decade, Peru still has an important infrastructure gap and a quarter of its population still lives in poverty. This paper applies illustratively new modified frameworks recently developed by the IMF to the case of Peru. It takes stock of analytical considerations to resource management, and analyzes Peru’s natural resource wealth and the investment climate. The paper also presents results from simulating alternative Permanent Income Hypothesis (PIH) based approaches and expenditure smoothing fiscal rules.

The Evolution of Central Banking and Monetary Policy in the Asia Pacific

Author: Akhand Akhtar Hossain
Publisher: Edward Elgar Publishing
ISBN: 0857937812
Format: PDF, ePub, Mobi
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This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views

Central Bank Involvement in Banking Crises in Latin America EPub

Author: Mr. Luis Ignacio Jácome
Publisher: International Monetary Fund
ISBN: 1451992335
Format: PDF, ePub
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This paper reviews the nature of central bank involvement in 26 episodes of financial disturbance and crises in Latin America from the mid-1990s onwards. It finds that, except in a handful of cases, large amounts of central bank money were used to cope with large and small crises alike. Pouring central bank money into the financial system generally derailed monetary policy, fueled further macroeconomic unrest, and contributed to simultaneous currency crises, thereby aggravating financial instability. In contrast, when central bank money issuance was restricted and bank resolution was timely executed, financial disturbances were handled with less economic cost. However, this strategy worked provided appropriate institutional arrangements were in place, which highlights the importance of building a suitable framework for preventing and managing banking crises.

Banking on the Future

Author: Howard Davies
Publisher: Princeton University Press
ISBN: 9781400834631
Format: PDF, ePub, Docs
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The crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. What lessons should central banks learn from the experience, and how, in a global financial system, should cooperation between them be enhanced? Banking on the Future provides a fascinating insider's look into how central banks have evolved and why they are critical to the functioning of market economies. The book asks whether, in light of the recent economic fallout, the central banking model needs radical reform. Supported by interviews with leading central bankers from around the world, and informed by the latest academic research, Banking on the Future considers such current issues as the place of asset prices and credit growth in anti-inflation policy, the appropriate role for central banks in banking supervision, the ways in which central banks provide liquidity to markets, the efficiency and cost-effectiveness of central banks, the culture and individuals working in these institutions, as well as the particular issues facing emerging markets and Islamic finance. Howard Davies and David Green set out detailed policy recommendations, including a reformulation of monetary policy, better metrics for financial stability, closer links with regulators, and a stronger emphasis on international cooperation. Exploring a crucial sector of the global economic system, Banking on the Future offers new ideas for restoring financial strength to the foundations of central banking.

Euro Area Policies

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1452722234
Format: PDF, ePub
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This Selected Issues paper discusses the effectiveness of monetary policy in the euro area in the context of the financial crisis, the need for special resolution regimes for financial institutions in the European Union (EU), and the proposed new EU financial stability arrangements. The paper analyzes the European Central Bank’s response to the global financial crisis and discusses ways forward. The case for establishing or improving resolution regimes for financial institutions in EU countries is also outlined.

International Capital Markets

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455285951
Format: PDF, Docs
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Following a review and assesment of recent developments in capital market and banking systems, this year's International Capital Markets report review and assesses recent developments in mature and emerging financial markets and continues the analysis of key issues affecting global financial markets. It examines the systemic implications of the continued rapid development of the global over-the-counter derivatives markets and the expansion of foreign-owned banks into emerging markets. The report also analyzes market participants' assessments of the proposals for private sector involvement in the prevention and resolution of crises.