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Sovereign Borrowing Cost And The Imfs Data Standards Initiatives
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Book Synopsis Sovereign Borrowing Cost and the IMF’s Data Standards Initiatives by : Mr.John Cady
Download or read book Sovereign Borrowing Cost and the IMF’s Data Standards Initiatives written by Mr.John Cady and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-03-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of the IMF's data standards initiatives on sovereign borrowing costs in private capital markets are investigated for 26 emerging market and developing countries. Stable and significant panel econometric estimates indicate that subscription to the Special Data Dissemination Standard (SDDS) reduces launch spreads by an average of 20 percent while participation in the General Data Dissemination System (GDDS) reduces spreads for those countries with access to capital markets by an average of 8 percent. These estimates correspond to discounts of some 50 and 20 basis points, respectively. Evidence of similar discounts is also found when launch yields are analyzed.
Book Synopsis Ninth Review of the International Monetary Fund’s Data Standards Initiatives by : International Monetary Fund
Download or read book Ninth Review of the International Monetary Fund’s Data Standards Initiatives written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-08-04 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund’s Executive Board regularly reviews progress and developments under the Data Standards Initiatives. The last review—Eighth Review—undertaken in February 2012 introduced the Special Data Dissemination Standard (SDDS) Plus. In light of the long experience under the Data Standards Initiatives established in the mid-1990s, this review takes a longer term retrospective on what has been achieved so far, and highlights some of the lessons learned. What is evident is the contrast between the progress of countries with more advanced dissemination practices (SDDS and SDDS Plus), and the slow pace of improvement under the General Data Dissemination System (GDDS).
Book Synopsis Tenth Review of IMF Data Standards Initiatives by : International Monetary
Download or read book Tenth Review of IMF Data Standards Initiatives written by International Monetary and published by International Monetary Fund. This book was released on 2022-03-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Data Standards Initiatives enhance data transparency as a global public good. The Tenth Review updates the framework, in light of new data priorities, through a parsimonious and principles-based expansion of encouraged data categories covering selected aspects in the areas of public debt, macro-financial indicators, foreign exchange intervention, climate change-related policy, and gender- disaggregated labor market statistics. The Review also focuses on strengthening the monitoring of the first tier of the Data Standards Initiatives, the enhanced General Data Dissemination System (e-GDDS), and encouraging subscribers of the second tier, the Special Data Dissemination Standard (SDDS), to modernize data publication technology.
Book Synopsis Improving Sovereign Financing Conditions Through Data Transparency by : Mr. Jesus R Gonzalez-Garcia
Download or read book Improving Sovereign Financing Conditions Through Data Transparency written by Mr. Jesus R Gonzalez-Garcia and published by International Monetary Fund. This book was released on 2022-11-18 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does it pay off to be transparent and, if so, can the benefits of transparency be measured? This paper provides an affirmative answer to both questions, supported by novel evidence on the link between transparency through dissemination of economic data and sovereign bond spreads. It explores changes in sovereign financing conditions when countries join the IMF Data Standards Initiatives—a multilateral framework that promotes data transparency as a global public good. The results from event studies and local projection models show a significant decrease in spreads following the adoption of the standards. In addition, countries with relatively weaker governance benefit the most from signaling their effort toward strengthening transparency.
Book Synopsis The IMF's Data Dissemination Initiative After Ten Years by : Mr.John Cady
Download or read book The IMF's Data Dissemination Initiative After Ten Years written by Mr.John Cady and published by International Monetary Fund. This book was released on 2008-03-10 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Data Dissemination Initiative was launched in the mid-1990s as part of a broader internationally-agreed-upon initiative to strengthen transparency and promote good governance practices by establishing standards and codes. Ten years later, the initiative is viewed as an integral part of the international financial architecture, and is considered to have improved the functioning of international financial markets and contributed to global financial stability. This volume reviews certain aspects of the development of and experience with the initiative over the past decade, and concludes by reflecting on potential challenges ahead and possible enhancements.
Book Synopsis Fifth Review of the Fund's Data Standards Initiatives by : International Monetary Fund. Statistics Dept.
Download or read book Fifth Review of the Fund's Data Standards Initiatives written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2003-06-18 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews developments under the Fund's Data Standards Initiativ--the Special Data Dissemination Standard (SDDS) and the General Data Dissemination System (GDDS)--and their integration under the Data Quality Program. The paper discusses proposals for updating the SDDS and the GDDS to maintain their relevance and reflect evolving international best practice, and for follow-up on the data module of the Report on the Observance of Standards and Codes (ROSC). The paper also proposes the development of a Compendium on Good Statistical Practices.
Download or read book Sovereign Debt written by S. Ali Abbas and published by Oxford University Press. This book was released on 2019-10-21 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. Sovereign Debt brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic. It explores debt management with debt sustainability; debt reduction policies with crisis prevention policies; and the history with the conjuncture. It is a foundation text for all those interested in sovereign debt, with a particular focus real world examples and issues.
Book Synopsis The Special Data Dissemination Standard by : International Monetary Fund. Statistics Dept.
Download or read book The Special Data Dissemination Standard written by International Monetary Fund. Statistics Dept. and published by International Monetary Fund. This book was released on 2014-01-07 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF) launched the data standards initiatives to enhance member countries’ data transparency and to promote their development of sound statistical systems. The need for data standards was highlighted by the financial crises of the mid-1990s, in which information deficiencies were seen to play a role. Under the data standards initiatives, the IMF established the Special Data Dissemination Standard (SDDS) in 1996 to provide guidance to countries that have or seek access to capital markets to disseminate key data so that users in general, and financial market participants in particular, have adequate information to assess the economic situations of individual countries. The SDDS not only prescribes that subscribers disseminate certain data categories, but also prescribes that subscribers disseminate the relevant metadata to promote public knowledge and understanding of their compilation practices with respect to the required data categories. In 1997, the IMF introduced under the initiatives the General Data Dissemination System (GDDS) to provide a framework for countries that aim to develop their statistical systems, within which they can work toward disseminating comprehensive and reliable data and, eventually, meet SDDS requirements. At the Eighth Review of the Fund’s Data Standards Initiatives in February 2012, the IMF’s Executive Board approved the SDDS Plus as an upper tier of the Fund’s data standards initiatives. The SDDS Plus is open to all SDDS subscribers and is aimed at economies with systemically important financial sectors.
Book Synopsis Sovereign Debt Restructurings 1950-2010 by : Mr.Udaibir S. Das
Download or read book Sovereign Debt Restructurings 1950-2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Book Synopsis IMF Data Standards Initiatives--A Consultative Approach to Enhancing Global Data Transparency by : Anne Y. Kester
Download or read book IMF Data Standards Initiatives--A Consultative Approach to Enhancing Global Data Transparency written by Anne Y. Kester and published by International Monetary Fund. This book was released on 2006-04 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the IMF launched the data standards initiatives a decade ago, 145 of its 184 member countries have participated. This 80 percent participation rate reaffirms the importance countries place on data transparency in the globalized economy, which the initiatives promote. The wide participation can be attributed to the consultative process that has allowed for the development of a coherent program that takes account of countries' capabilities, delineates clear responsibilities between the IMF and participating countries, and establishes effective monitoring procedures to ensure the credibility of the standards for policymakers, capital markets, and the general public. The approach has also provided checks and balances and fostered accountability. The initiatives may provide insights for the promotion of similar international standards.
Book Synopsis The General Data Dissemination System by : International Monetary Fund
Download or read book The General Data Dissemination System written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-07-25 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF's work on data dissemination standards consists of two tiers: the General Data Dissemination System (GDDS), which applies to all IMF member countries, and the Special Data Dissemination Standard (SDDS), for those members having or seeking access to international capital markets. The GDDS framework provide governments with guidance on the overall development of the macroeconomic, financial, and sociodemographic data that are essential for policymaking and analysis in an environment that increasingly requires relevant, comprehensive, and accurate statistical data. This Guide explains the nature, objectives, and operation of the GDDS; the data dimensions it covers; and how countries participate. It provides national statistical authorities with a management tool and a framework to foster sound statistical methodology, professional data compilation, and data dissemination. The Guide supersedes the version updated in March 2002 and incorporates the UN Millennium Development Goals (MDGs) as specific elements of the GDDS sociodemographic component, which was articulated with the collaboration of the World Bank.
Book Synopsis Government Finance Statistics Manual 2014 by : Mrs.Sage De Clerck
Download or read book Government Finance Statistics Manual 2014 written by Mrs.Sage De Clerck and published by International Monetary Fund. This book was released on 2015-03-10 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1616352477 Total Pages :94 pages Book Rating :4.6/5 (163 download)
Book Synopsis Global Financial Stability Report, April 2012 by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Global Financial Stability Report, April 2012 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2012-04-18 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The April 2012 Global Financial Stability Report assesses changes in risks to financial stability over the past six months, focusing on sovereign vulnerabilities, risks stemming from private sector deleveraging, and assessing the continued resilience of emerging markets. The report probes the implications of recent reforms in the financial system for market perception of safe assets, and investigates the growing public and private costs of increased longevity risk from aging populations.
Book Synopsis Sovereign Borrowing Cost and the IMF's Data Standards Initiatives by : John Cady
Download or read book Sovereign Borrowing Cost and the IMF's Data Standards Initiatives written by John Cady and published by . This book was released on 2006 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of the IMF's data standards initiatives on sovereign borrowing costs in private capital markets are investigated for 26 emerging market and developing countries. Stable and significant panel econometric estimates indicate that subscription to the Special Data Dissemination Standard (SDDS) reduces launch spreads by an average of 20 percent while participation in the General Data Dissemination System (GDDS) reduces spreads for those countries with access to capital markets by an average of 8 percent. These estimates correspond to discounts of some 50 and 20 basis points, respectively. Evidence of similar discounts is also found when launch yields are analyzed.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781589060616 Total Pages :218 pages Book Rating :4.0/5 (66 download)
Book Synopsis Government Finance Statistics Manual 2001 by : International Monetary Fund
Download or read book Government Finance Statistics Manual 2001 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2001-12-19 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Manual, which updates the first edition published in 1986, is a major advance in the standards for compilation and presentation of fiscal statistics. It is intended as a reference volume for compilers of government finance statistics, fiscal analysts, and other users of fiscal data. The Manual introduces accrual accounting, balance sheets, and complete coverage of government economic and financial activities. It covers concepts, definitions, classifications, and accounting rules, and provides a comprehensive framework for analysis, planning, and policy determination. To the extent possible, the Manual has been harmonized with the System of National Accounts 1993.
Book Synopsis The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads by : Sangyup Choi
Download or read book The Effects of Data Transparency Policy Reforms on Emerging Market Sovereign Bond Spreads written by Sangyup Choi and published by International Monetary Fund. This book was released on 2017-03-28 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We find that data transparency policy reforms, reflected in subscriptions to the IMF’s Data Standards Initiatives (SDDS and GDDS), reduce the spreads of emerging market sovereign bonds. To overcome endogeneity issues regarding a country’s decision to adopt such reforms, we first show that the reform decision is largely independent of its macroeconomic development. By using an event study, we find that subscriptions to the SDDS or GDDS leads to a 15 percent reduction in the spreads one year following such reforms. This finding is robust to various sensitivity tests, including careful consideration of the interdependence among the structural reforms.
