As South Asia trudges ahead on the road to recovery, the region faces extremely difficult eco nomic challenges. Internally, economies are weighed down by scars from the COVID pan demic, as supply bottlenecks...
Using country-to-country data, this paper documents a set of novel stylized facts about the rise of the South in global finance. The paper assembles comprehensive bilateral data on cross-border bank loans...
This paper examines the influence of sovereign credit ratings and relative risk ratings on private capital flows to 26 emerging and frontier market economies, using quarterly data for 1998-2017. A dynamic...
This is a statement by Mr. Steven T. Mnuchin Secretary of the Treasury, at the 101st meeting of the Development Committee held on April 17, 2020. The IMF and World Bank Spring Meetings provide an important...
This paper outlines the structure and economic foundation of the World Bank's macroeconomic and fiscal model (MFMod). MFMod consists of individual country models for 181 countries. The models are used...
Indonesia posted a current account deficit (CAD) of United States dollars (USD) 8.4 billion in Q2 2019, up from USD 7.0 billion in Q1. On a four-quarter rolling sum basis, the CAD remained unchanged from...
The current account deficit (CAD) came in at United States dollars (USD) 7.0 billion in Q1 ‘19 compared to USD 9.2 billion in the previous quarter. As a share of gross domestic product (GDP), the CAD was...
This paper examines the pros and cons of gradual versus big-bang approaches toward devaluations. It presents original empirical evidence regarding output, consumption, investment and trade balances associated...
A current account deficit is sustainable when its underlying drivers support a smooth correction in the future. It is unsustainable when symptomatic of macroeconomic imbalances that would eventually trigger...
This paper constructs a new dataset of quarterly capital flows by sector and establishes four facts. First, the co-movement of capital inflows and outflows is driven by banks. Second, procyclicality of...
Economic Complexity is a set of network-based and algorithmic methods for the study of economic development and competitiveness. In this framework, Economic Fitness is an innovative approach that improves...
This issue of Indonesia daily economic update for February 12, 2018 contains economic highlights, including: state-owned secondary mortgage company PT Sarana Multigriya Finansial (SMF) plans to issue asset-backed...
The Jakarta Composite Index rose 1.3 percent over the week, in line with most markets in the region. The Rupiah appreciated against the US Dollar by 0.5 percent, but depreciated against the Euro and Japanese...
Recent volatility in the US stock market rippled through global markets, impacting also the Philippine stock exchange in the first two weeks of February. The Philippine peso came under renewed pressure...
Social accounting matrices (SAMs) are the key data input for computable general equilibrium (CGE) models. After a brief introduction to SAMs, this paper presents a method and related computer program for...
This paper provides an overview, macro application, and detailed documentation of GEM-Core, a dynamic computable general equilibrium (CGE) model designed for medium- and long-run policy analysis. GEM stands...
Real gross domestic product (GDP) growth strengthened modestly from 5.0 percent year-on-year (yoy) in Q2 to 5.1 percent in Q3 as stronger investment, surging exports and a rebound in government consumption...