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  • Stabi Berlin  (16)
  • SKB Bad Freienwalde
  • SB Schlieben
  • Singh, Raju Jan  (13)
  • Singh, Reema  (3)
  • Open access  (16)
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  • Stabi Berlin  (16)
  • SKB Bad Freienwalde
  • SB Schlieben
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  • 1
    UID:
    gbv_1666514527
    Format: 1 Online-Ressource (circa 36 Seiten) , Illustrationen
    ISBN: 9781498303569
    Series Statement: IMF working paper WP/19, 68
    Content: This paper contributes to the literature by looking at the possible relevance of the structure of the financial system-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased policy attention on strengthening growth resilience. With low-income countries (LICs) being the most vulnerable to large and frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock-amplifier for most economies. These findings are consistent across a range of econometric estimators, including fixed effect, system GMM and local projection estimates
    Language: English
    Keywords: Graue Literatur
    URL: Volltext  (kostenfrei)
    URL: Volltext  (kostenfrei)
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  • 2
    UID:
    gbv_845891731
    Format: Online-Ressource (26 p)
    Edition: Online-Ausg.
    ISBN: 1451873638 , 9781451873634
    Series Statement: IMF Working Papers Working Paper No. 09/216
    Content: The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth
    Language: English
    URL: Volltext  (IMF e-Library)
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  • 3
    Online Resource
    Online Resource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845909185
    Format: Online-Ressource (25 p)
    Edition: Online-Ausg.
    ISBN: 1451854854 , 9781451854855
    Series Statement: IMF Working Papers Working Paper No. 04/125
    Content: The value-added tax (VAT) in China has the unusual feature that capital goods are included in the VAT base. In addition, most services are subject to the business tax, which is not creditable against VAT, but which accrues to local governments, and operates as a turnover tax. On grounds of economic efficiency, it would be desirable to eliminate these distortions so that domestic producers are not increasingly placed at a disadvantage as China dismantles tariff and nontariff barriers on competing goods. Reforming indirect taxation would however generate considerable revenue losses for local governments and, in the absence of any compensatory mechanisms, there would be significant impediments to the needed reforms. This paper focuses on the extent of revenue losses, their distribution across provinces, and possible options for compensation
    Language: English
    URL: Volltext  (IMF e-Library)
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  • 4
    UID:
    gbv_1017851883
    Format: Online-Ressource
    Content: This paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa. It assembles the most comprehensive data set available so far on remittances in the region; it comprises data for 36 countries for 1990 through 2008, and incorporates newly available data on the size and location of the diaspora. We find that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave counter-cyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
    Language: English
    URL: Volltext  (kostenfrei)
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  • 5
    UID:
    gbv_797522476
    Format: Online-Ressource
    Series Statement: Policy Research working paper WPS 5915
    Content: Although there has been research looking at the relationship between the structure of the financial system and economic growth, much less work has dealt with the importance of bank-based versus market-based financial systems for poverty and income distribution. Empirical evidence has indicated that the structure of the financial system has little relevance for economic growth, suggesting that the same could be true for poverty since growth is an important driver in reducing poverty. Some theories, however, claim that, by reducing information and transaction costs, the development of bank-based financial systems could exert a particularly large impact on the poor. This paper looks at a sample of 47 developing economies from 1984 through 2008. The results suggest that when institutions are weak, bank-based financial systems are better at reducing poverty and, as institutions develop, market-based financial systems can turn out to be beneficial for the poor.
    Language: English
    URL: Volltext  (kostenfrei)
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  • 6
    Online Resource
    Online Resource
    Washington, DC : World Bank
    UID:
    gbv_797588469
    Format: Online-Ressource
    Series Statement: Policy Research Working Paper 6327
    Content: Although trade liberalization is being actively promoted as a key component in development strategies, theoretically, the impact of trade openness on poverty reduction is ambiguous. A more liberalized trade regime is argued to change relative factor prices in favor of the more abundant factor. If poverty and relative low income stem from abundance of labor, greater trade openness should lead to higher labor prices and a decrease in poverty. However, should the re-allocation of factors be hampered, the expected benefits from freer trade may not materialize. The theoretical ambiguity on the effects of openness is reflected in the available empirical evidence. This paper examines how the effect of trade openness on poverty may depend on complementary reforms that help a country take advantage of international competition. Using a non-linear regression specification that interacts a proxy of trade openness with proxies of various country structural specificities and a panel of 30 African countries over the period 1981-2010, the analysis finds that trade openness tends to reduce poverty in countries where financial sectors are deep, education levels high and governance strong.
    Language: English
    URL: Volltext  (kostenfrei)
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  • 7
    UID:
    gbv_845874810
    Format: Online-Ressource (26 p)
    Edition: Online-Ausg.
    ISBN: 1451861273 , 9781451861273
    Series Statement: IMF Working Papers Working Paper No. 05/108
    Content: Transparent public financial management at the subnational level requires institutions and processes that mirror those needed at the central government level, in order to generate better accountability and competition among different subnational governments, critical elements in ensuring good governance and efficiency of decentralized administrations. Further subnational debt also has implications for overall macroeconomic stability that concerns the central government. The key components are identified, with a particular focus on subnational debt monitoring and management
    Language: English
    URL: Volltext  (IMF e-Library)
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  • 8
    Online Resource
    Online Resource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845883747
    Format: Online-Ressource (27 p)
    Edition: Online-Ausg.
    ISBN: 1451858272 , 9781451858273
    Series Statement: IMF Working Papers Working Paper No. 02/168
    Content: The paper assesses the changing nature of the relations between the provinces and the central government in China during the 1990s. It examines the fiscal reforms initiated in 1994 and subsequent developments. The expenditure needs of the center and the richer provinces are juxtaposed against the need for ""redistribution"" to the more backward regions
    Language: English
    URL: Volltext  (IMF e-Library)
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  • 9
    Online Resource
    Online Resource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845853252
    Format: Online-Ressource (31 p)
    Edition: Online-Ausg.
    ISBN: 1462305237 , 9781462305230
    Series Statement: IMF Working Papers Working Paper No. 11/196
    Content: Recent studies on the relationship between financial development and poverty have been inconclusive. Some claim that, by allowing more entrepreneurs to obtain financing, financial development improves the allocation of capital, which has a particularly large impact on the poor. Others argue that it is primarily the rich and politically connected who benefit from improvements in the financial system. This paper looks at a sample of 37 countries in sub-Saharan Africa from 1992 through 2006. Its results suggest that financial deepening could narrow income inequality and reduce poverty, and that stronger property rights reinforce these effects. Interest rate and lending liberalization alone could, however, be detrimental to the poor if not accompanied by institutional reforms, in particular stronger property rights and wider access to creditor information
    Language: English
    URL: Volltext  (IMF e-Library)
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  • 10
    UID:
    gbv_845877011
    Format: Online-Ressource (33 p)
    Edition: Online-Ausg.
    ISBN: 1451860730 , 9781451860733
    Series Statement: IMF Working Papers Working Paper No. 05/54
    Content: Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrowing constraints for containing local fiscal deficits. The results suggest that no single institutional arrangement is superior under all circumstances. The appropriateness of specific arrangements depends upon other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting
    Language: English
    URL: Volltext  (IMF e-Library)
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