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Spillovers From Global And Regional Shocks To Armenia
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Book Synopsis Spillovers from Global and Regional Shocks to Armenia by : Knarik Ayvazyan
Download or read book Spillovers from Global and Regional Shocks to Armenia written by Knarik Ayvazyan and published by International Monetary Fund. This book was released on 2015-11-23 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a structural vector auto-regression (SVAR) model, this paper examines the size, geographical sources, and transmission channels of global and regional shocks to the Armenian economy. Results show that Armenian economic activity is strongly influenced by global demand shocks and changes in oil prices, yet relatively immune to financial volatility. Transmission takes place through the Russian and EU economies, remittances, and external borrowing. The role of exports and tourism is low. Russia is key in transforming the potentially negative impact of an increase in oil prices into a positive event, through stronger remittances and exports. Services and construction, which depend significantly on remittances and external borrowing, are the most affected by global and regional shocks.
Book Synopsis Spillovers from Global and Regional Shocks to Armenia by : Knarik; Dabán Sánchez Teresa Ayvazyan
Download or read book Spillovers from Global and Regional Shocks to Armenia written by Knarik; Dabán Sánchez Teresa Ayvazyan and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Global Economic Prospects, January 2016 by : WorldBank
Download or read book Global Economic Prospects, January 2016 written by WorldBank and published by World Bank Publications. This book was released on 2016-01-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The January 2016 edition of Global Economic Prospects discusses current global and regional economic developments and prospects, analyzing key challenges and opportunities confronting developing countries. This volume addresses, among other topics, spillovers from large emerging markets and macroeconomic vulnerabilities during resource development. Global Economic Prospects is a World Bank Group Flagship Report. Semiannually (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through in-depth research in the January edition and shorter analytical pieces in the June edition.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1484316495 Total Pages :20 pages Book Rating :4.4/5 (843 download)
Book Synopsis IMF Research Bulletin, March 2016 by : International Monetary Fund. Research Dept.
Download or read book IMF Research Bulletin, March 2016 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2016-04-06 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Research Bulletin includes listings of recent IMF Working Papers and Staff Discussion Notes. The research summaries in this issue are “Explaining the Recent Slump in Investment” (Mathieu Bussiere, Laurent Ferrara, and Juliana Milovich) and “The Quest for Stability in the Housing Markets” (Hites Ahir). The Q&A column reviews “Seven Questions on Estimating Monetary Transmission Mechanism in Low-Income Countries” (Bin Grace Li, Christopher Adam, and Andrew Berg). Also included in this issue are updates on the IMF’s official journal, the IMF Economic Review, and recommended readings from IMF Publications.
Book Synopsis Global Shocks and the New Global and Regional Financial Architecture by : Naoyuki Yoshino
Download or read book Global Shocks and the New Global and Regional Financial Architecture written by Naoyuki Yoshino and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.
Book Synopsis Export Spillovers from Global Shocks for the Middle East and Central Asia by : Mr.Alberto Behar
Download or read book Export Spillovers from Global Shocks for the Middle East and Central Asia written by Mr.Alberto Behar and published by International Monetary Fund. This book was released on 2014-05-09 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with respect to trading partner GDP indicate non-oil export volumes are relatively responsive while service exports are less responsive. Downward revisions to global GDP growth for 2011–14 have impeded export performance, and the possibility of disappointing GDP growth in Europe and emerging markets presents further downside risks for exports. The Maghreb countries are particularly sensitive to developments in Europe, while CCA countries are more susceptible to growth in the BRICS.
Book Synopsis Global Economic Prospects, January 2016 by : World Bank
Download or read book Global Economic Prospects, January 2016 written by World Bank and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Global growth disappointed once again in 2015. A further deceleration of activity in key emerging and developing economies overshadowed a modest recovery in major high-income countries, amid weakening commodity prices, global trade, and capital flows. Going forward, global growth should pick up at an appreciably slower pace than previously projected. Risks to the outlook remain markedly tilted to the downside. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a comprehensive analysis of spillovers from a slowdown in major emerging markets to other developing economies, as well as two essays on key topical issues: the potential macroeconomic implications of the Trans-Pacific Partnership and the links between exchange rate regimes and capital controls in developing countries. It also includes a special focus on mounting vulnerabilities in low-income countries before major resource discoveries come into production. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging markets and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by developing countries while the June edition contains shorter analytical pieces."--Back cover.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1484348834 Total Pages :657 pages Book Rating :4.4/5 (843 download)
Book Synopsis World Economic Outlook, October 2013 by : International Monetary Fund. Research Dept.
Download or read book World Economic Outlook, October 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-10-08 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1498318568 Total Pages :127 pages Book Rating :4.4/5 (983 download)
Book Synopsis Republic of Armenia by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Republic of Armenia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-06-05 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents Armenia’s 2019 Article IV Consultation report and request for a Stand-By Arrangement (SBA). The arrangement is intended to be precautionary. It will provide insurance against external shocks and support the authorities’ efforts to strengthen economic fundamentals and policy frameworks. It will also help effective implementation of structural reforms, particularly relating to governance and improving business climate. Discussions focused on macroeconomic and structural policies to ensure macro and fiscal sustainability, foster higher and more broad-based growth, and strengthen resilience to shocks. Supported by the upgraded fiscal rule, fiscal consolidation remains on track, and public debt has started to decline. Inflation is under control, the financial system remains stable, and pressures on the exchange rate have been limited. The authorities’ efforts are centered on advancing structural reforms to generate higher, more inclusive, and resilient growth; and strong policies to maintain macroeconomic stability.
Book Synopsis OECD Reviews of Risk Management Policies Future Global Shocks Improving Risk Governance by : OECD
Download or read book OECD Reviews of Risk Management Policies Future Global Shocks Improving Risk Governance written by OECD and published by OECD Publishing. This book was released on 2011-08-04 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides strategic advice on preparing for and responding to potential global shocks.
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.
Book Synopsis Future of Regional Cooperation in Asia and the Pacific by : Bambang Susantono
Download or read book Future of Regional Cooperation in Asia and the Pacific written by Bambang Susantono and published by Asian Development Bank. This book was released on 2020-11-01 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews progress with regional cooperation and integration in Asia and the Pacific and explores how it can be reshaped to achieve a more resilient, sustainable, and inclusive future. Consisting of papers contributed by renowned scholars and Asian Development Bank staff, the book covers four major areas: public goods, trade and investment, financial cooperation, and regional health cooperation. The book emphasizes how the region can better leverage regional integration to realize its vast potential as well as overcome challenges such as the coronavirus disease (COVID-19) pandemic.
Book Synopsis Spillovers from Russia to Neighboring Countries: Transmission Channels and Policy Options by : Shant Arzoumanian
Download or read book Spillovers from Russia to Neighboring Countries: Transmission Channels and Policy Options written by Shant Arzoumanian and published by International Monetary Fund. This book was released on 2023-09-08 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how output fluctuations in Russia are transmitted internationally. Using vector autoregression (VAR) and dynamic panel models, the paper finds that Russia’s output fluctuations are an important driver of output fluctuations of countries in the region, especially for oil importers, and are transmitted increasingly via trade and market confidence channels. The magnitude of cross-border spillovers is larger for countries with relatively high bilateral trade concentration, low export diversification, and weak external buffers. The paper also finds evidence that stronger public institutional quality- especially in the fiscal area- may help insulate countries from volatility in the Russian sovereign debt market.
Book Synopsis The Spillover Effects of Russia’s Economic Slowdown on Neighboring Countries by : Ara Stepanyan
Download or read book The Spillover Effects of Russia’s Economic Slowdown on Neighboring Countries written by Ara Stepanyan and published by International Monetary Fund. This book was released on 2016-09-27 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the face of sharply lower oil prices and geopolitical tensions and sanctions, economic activity in Russia decelerated in late 2014, resulting in negative spillovers on Commonwealth of Independent States (CIS) and, to a lesser extent, on Baltic countries. The spillovers to eastern Europe have been limited. The degree of impact is commensurate with the level of these countries’ trade, remittances, and foreign direct investment (FDI) links with Russia. So far, policy action by the affected countries has focused on mitigating the immediate consequences of spillovers.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 :1513525549 Total Pages :73 pages Book Rating :4.5/5 (135 download)
Book Synopsis Armenia by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Armenia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-12-31 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper highlights Republic of Armenia’s First Review Under the Stand-By-Arrangement. Armenia’s economic performance is strong with healthy growth, low inflation, a stable financial system, with increasing foreign reserves and higher revenues. Despite fiscal overperformance, it is key to maintain the reform momentum to strengthen revenue mobilization, including by completing reforms to property taxation. Implementation of the authorities’ reform agenda including efforts to improve governance by establishing a holistic anti-corruption framework, will bolster sustainable and inclusive growth. The monetary policy framework’s focus on price stability has served Armenia well. The authorities’ implementation of Basel III measures will raise the resilience of the financial system, while their plans to develop the capital market and improve access to finance are also welcome.
Author :International Monetary Fund. Middle East and Central Asia Dept. Publisher :International Monetary Fund ISBN 13 : Total Pages :59 pages Book Rating :4.4/5 (2 download)
Book Synopsis Regional Economic Outlook: Middle East and Central Asia by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Regional Economic Outlook: Middle East and Central Asia written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2022-10-31 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a worsening global environment, economies in the Middle East and Central Asia are being buffeted by a confluence of shocks: a global slowdown, high and volatile food and energy prices, faster and stronger than expected tightening of financial conditions, and the risk of fragmentation. The region’s emerging market and middle-income economies (EM&MIs) and low-income countries (LICs) are hit hard, with many facing curtailed access to market financing, while oil-exporting countries are being buffered by still-high energy prices. The adverse impact of Russia’s war in Ukraine on the Caucasus and Central Asia (CCA) has thus far been milder than expected. Still, the CCA’s strong ties to Russia entail substantial risks to the region’s outlook. The most urgent policy challenge for all countries is to tackle the cost-of-living crisis by restoring price stability, protecting vulnerable groups through targeted support, and ensuring food security. Policy trade-offs in EM&MIs and LICs have become more pronounced than ever, as they also need to preserve debt sustainability and financial stability. Oil exporters have the opportunity to maximize the benefits of the oil windfall by building buffers and advancing their diversification plans. CCA countries should carefully assess the magnitude and durability of the initial spillovers from the war in Ukraine and adjust their policy mix accordingly. Limited policy space in many countries raises the urgency of structural reforms to bolster economic growth while transforming economies to become more resilient, sustainable, diversified, and inclusive.
Book Synopsis Global Economic Prospects, June 2021 by : World Bank
Download or read book Global Economic Prospects, June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
