http://zunia.org/ http://zunia.org/sites/all/themes/zunia/images/zunia_rss_logo.gif http://zunia.org/ 144 50 Tue, 23 Apr 2013 00:00:00 -0400 Wed, 24 Apr 2013 02:20:08 -0400 http://zunia.org/post/the-dynamic-effect-of-social-and-political-instability-on-output-the-role-of-reforms http://zunia.org/post/the-dynamic-effect-of-social-and-political-instability-on-output-the-role-of-reforms456367 Mon, 22 Apr 2013 23:00:00 -0500 http://zunia.org/post/the-investment-technology-of-foreign-and-domestic-institutional-investors-in-an-emerging-market http://zunia.org/post/the-investment-technology-of-foreign-and-domestic-institutional-investors-in-an-emerging-market456265 Sun, 21 Apr 2013 23:00:00 -0500 http://zunia.org/post/fiscal-sustainability-a-21st-century-guide-for-the-perplexed http://zunia.org/post/fiscal-sustainability-a-21st-century-guide-for-the-perplexed456266 Sun, 21 Apr 2013 23:00:00 -0500 http://zunia.org/post/philippines-selected-issues http://zunia.org/post/philippines-selected-issues456039 Wed, 17 Apr 2013 23:00:00 -0500 http://zunia.org/post/philippines-2013-article-iv-consultation http://zunia.org/post/philippines-2013-article-iv-consultation456040 Wed, 17 Apr 2013 23:00:00 -0500 http://zunia.org/post/energy-subsidy-reform-in-sub-saharan-africa-experiences-and-lessons http://zunia.org/post/energy-subsidy-reform-in-sub-saharan-africa-experiences-and-lessons456041 Wed, 17 Apr 2013 23:00:00 -0500 http://zunia.org/post/global-financial-stability-report-april-2013-old-risks-new-challenges http://zunia.org/post/global-financial-stability-report-april-2013-old-risks-new-challenges455914 Tue, 16 Apr 2013 23:00:00 -0500 http://zunia.org/post/fiscal-monitor-april-2013-fiscal-adjustment-in-an-uncertain-world http://zunia.org/post/fiscal-monitor-april-2013-fiscal-adjustment-in-an-uncertain-world455820 Mon, 15 Apr 2013 23:00:00 -0500 http://zunia.org/post/rethinking-macro-policy-ii-getting-granular http://zunia.org/post/rethinking-macro-policy-ii-getting-granular455710 Sun, 14 Apr 2013 23:00:00 -0500 http://zunia.org/post/republic-of-kosovo-financial-system-stability-assessment http://zunia.org/post/republic-of-kosovo-financial-system-stability-assessment455535 Thu, 11 Apr 2013 23:00:00 -0500 http://zunia.org/post/togo-technical-assistance-report%E2%80%94launch-of-the-project-for-strengthening-public-financial-manag http://zunia.org/post/togo-technical-assistance-report%E2%80%94launch-of-the-project-for-strengthening-public-financial-manag455536 Thu, 11 Apr 2013 23:00:00 -0500 http://zunia.org/post/the-bahamas-financial-sector-stability-assessment http://zunia.org/post/the-bahamas-financial-sector-stability-assessment455449 Wed, 10 Apr 2013 23:00:00 -0500 http://zunia.org/post/the-bahamas-2012-article-iv-consultation http://zunia.org/post/the-bahamas-2012-article-iv-consultation455450 Wed, 10 Apr 2013 23:00:00 -0500 http://zunia.org/post/market-based-structural-top-down-stress-tests-of-the-banking-system http://zunia.org/post/market-based-structural-top-down-stress-tests-of-the-banking-system455326 Tue, 09 Apr 2013 23:00:00 -0500 http://zunia.org/post/gpm6-the-global-projection-model-with-6-regions http://zunia.org/post/gpm6-the-global-projection-model-with-6-regions455327 Tue, 09 Apr 2013 23:00:00 -0500 http://zunia.org/post/mauritius-2013-article-iv-consultation http://zunia.org/post/mauritius-2013-article-iv-consultation455080 Sun, 07 Apr 2013 23:00:00 -0500 http://zunia.org/post/morocco-2012-article-iv-consultation-and-first-review-under-the-two-year-precautionary-and-liqu http://zunia.org/post/morocco-2012-article-iv-consultation-and-first-review-under-the-two-year-precautionary-and-liqu454899 Thu, 04 Apr 2013 23:00:00 -0500 http://zunia.org/post/leaning-against-the-wind-and-the-timing-of-monetary-policy http://zunia.org/post/leaning-against-the-wind-and-the-timing-of-monetary-policy454608 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/monetary-transaction-costs-and-the-term-premium http://zunia.org/post/monetary-transaction-costs-and-the-term-premium454609 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/italian-sovereign-spreads-their-determinants-and-pass-through-to-bank-funding-costs-and-lending http://zunia.org/post/italian-sovereign-spreads-their-determinants-and-pass-through-to-bank-funding-costs-and-lending454610 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/georgia-first-and-second-reviews-under-the-stand-by-arrangement-and-under-the-standby-credit-fa http://zunia.org/post/georgia-first-and-second-reviews-under-the-stand-by-arrangement-and-under-the-standby-credit-fa454611 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/democratic-republic-of-the-congo-2012-article-iv-consultation%E2%80%94staff-report-public-information-n http://zunia.org/post/democratic-republic-of-the-congo-2012-article-iv-consultation%E2%80%94staff-report-public-information-n454612 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/ireland-ninth-review-under-the-extended-arrangement http://zunia.org/post/ireland-ninth-review-under-the-extended-arrangement454613 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/west-african-economic-and-monetary-union-waemu-staff-report-on-common-policies-for-member-cou-0 http://zunia.org/post/west-african-economic-and-monetary-union-waemu-staff-report-on-common-policies-for-member-cou-0454614 Tue, 02 Apr 2013 23:00:00 -0500 http://zunia.org/post/haiti-selected-issues http://zunia.org/post/haiti-selected-issues454508 Mon, 01 Apr 2013 23:00:00 -0500 http://zunia.org/post/haiti-2012-article-iv-consultation-and-fifth-review-under-the-extended-credit-facility http://zunia.org/post/haiti-2012-article-iv-consultation-and-fifth-review-under-the-extended-credit-facility454509 Mon, 01 Apr 2013 23:00:00 -0500 http://zunia.org/post/rethinking-the-states-role-in-finance <p>The global financial crisis has given greater credence to the idea that active state involvement in the financial sector can be helpful for stability and development. There is now evidence that, for example, lending by state-owned banks has helped in mitigating the impact of the crisis on aggregate credit. But evidence also points to negative longer-term effects of direct interventions on resource allocation and quality of intermediation. This suggests a need to rebalance the state's roles from direct to less direct involvement, as the crisis subsides. The state does have very important roles, especially in providing well-defined regulations and enforcing them, ensuring healthy competition, and strengthening financial infrastructure. One of the crisis lessons is the importance of getting the basics right first: countries with complex but poorly enforced regulations suffered more during the global crisis. Evidence also suggests that instead of restricting competition, the state needs to encourage contestability through healthy entry of well-capitalized institutions and timely exit of insolvent ones. There is also new evidence that supports the state's key role in promoting transparency of information and reducing counterparty risk. The challenge of financial sector policies is to better align private incentives with public interest, without taxing or subsidizing private risk-taking.</p> http://zunia.org/post/rethinking-the-states-role-in-finance454894 Sun, 31 Mar 2013 23:00:00 -0500 http://zunia.org/post/subnational-debt-insolvency-and-market-development <p>State and local debt and the debt of quasi-public agencies have grown in importance as a result of fiscal decentralization, rapid urbanization, and the increasing role played by private capital. However, with debt comes the risk of insolvency. This note outlines a set of aligned fiscal incentives that should be in place, as well as the design issues to be considered in debt restructuring frameworks. This note also suggests some broad lessons extracted from several country experiences with subnational debt restructuring, insolvency frameworks, and debt market development. This note suggest a range of possible lessons to consider when designing reforms to align fiscal incentives and develop a robust subnational debt framework that can be used to effectively manage the insolvency risks that will inevitably accompany the new dynamism of subnational finance.</p> http://zunia.org/post/subnational-debt-insolvency-and-market-development454896 Sun, 31 Mar 2013 23:00:00 -0500 http://zunia.org/post/the-financing-and-growth-of-firms-in-china-and-india-evidence-from-capital-markets <p>This paper studies the extent to which firms in China and India use capital markets to obtain financing and grow. Using a unique data set on domestic and international capital raising activity and firm performance, it finds that the expansion of financial market activity since the 1990s has been more limited than what the aggregate figures suggest. Relatively few firms raise capital. Even fewer firms capture the bulk of the financing. Moreover, firms that issue equity or bonds are different and behave differently from other publicly listed firms. Among other things, they are typically larger and grow faster. The differences between users and non-users exist before the capital raising activity, are associated with the probability of raising capital, and become more accentuated afterward. The distribution of issuing firms shifts more over time than the distribution of those that do not issue, suggesting little convergence in firm size among listed firms.</p> http://zunia.org/post/the-financing-and-growth-of-firms-in-china-and-india-evidence-from-capital-markets454897 Sun, 31 Mar 2013 23:00:00 -0500 http://zunia.org/post/what-is-a-civil-war-a-critical-review-of-its-definition-and-econometric-consequences <p>The authors argue that the academic literature, both qualitative and quantitative, has mislabeled most episodes of large-scale violence in Africa as civil war; these episodes better fit their concept of regional war complexes. The paper seeks to highlight the fundamental flaws in the conception of civil war in the econometric literature and their implications for econometric specification and estimation, problems that this literature is inherently incapable of rectifying. The authors advocate the comparative study of regional war complexes in Africa based on historical narratives.</p> http://zunia.org/post/what-is-a-civil-war-a-critical-review-of-its-definition-and-econometric-consequences454898 Sun, 31 Mar 2013 23:00:00 -0500 http://zunia.org/post/china%E2%80%99s-path-to-consumer-based-growth-reorienting-investment-and-enhancing-efficiency http://zunia.org/post/china%E2%80%99s-path-to-consumer-based-growth-reorienting-investment-and-enhancing-efficiency454245 Thu, 28 Mar 2013 23:00:00 -0500 http://zunia.org/post/labor-market-policies-and-imf-advice-in-advanced-economies-during-the-great-recession http://zunia.org/post/labor-market-policies-and-imf-advice-in-advanced-economies-during-the-great-recession454246 Thu, 28 Mar 2013 23:00:00 -0500 http://zunia.org/post/hungary-selected-issues-paper http://zunia.org/post/hungary-selected-issues-paper454247 Thu, 28 Mar 2013 23:00:00 -0500 http://zunia.org/post/hungary-2013-article-iv-consultation-and-third-post-program-monitoring-discussions%E2%80%94staff-report http://zunia.org/post/hungary-2013-article-iv-consultation-and-third-post-program-monitoring-discussions%E2%80%94staff-report454248 Thu, 28 Mar 2013 23:00:00 -0500 http://zunia.org/post/too-cold-too-hot-or-just-right-assessing-financial-sector-development-across-the-globe http://zunia.org/post/too-cold-too-hot-or-just-right-assessing-financial-sector-development-across-the-globe454178 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/panama-selected-issues http://zunia.org/post/panama-selected-issues454179 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/panama-2012-article-iv-consultation http://zunia.org/post/panama-2012-article-iv-consultation454180 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/republic-of-equatorial-guinea-statistical-appendix http://zunia.org/post/republic-of-equatorial-guinea-statistical-appendix454181 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/republic-of-equatorial-guinea-2012-article-iv-consultation-staff-report-informational-annex-pub http://zunia.org/post/republic-of-equatorial-guinea-2012-article-iv-consultation-staff-report-informational-annex-pub454182 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/republic-of-lithuania-selected-issues-0 http://zunia.org/post/republic-of-lithuania-selected-issues-0454183 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/republic-of-lithuania-2013-article-iv-consultation-staff-reportinformation-annex-public-informa http://zunia.org/post/republic-of-lithuania-2013-article-iv-consultation-staff-reportinformation-annex-public-informa454184 Wed, 27 Mar 2013 23:00:00 -0500 http://zunia.org/post/china%E2%80%99s-demography-and-its-implications http://zunia.org/post/china%E2%80%99s-demography-and-its-implications454249 Wed, 27 Mar 2013 23:00:00 -0500