Finance & Development, June 1999


Book Description

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.




Development as Freedom


Book Description

By the winner of the 1988 Nobel Prize in Economics, an essential and paradigm-altering framework for understanding economic development--for both rich and poor--in the twenty-first century. Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global economy, where, despite unprecedented increases in overall opulence, the contemporary world denies elementary freedoms to vast numbers--perhaps even the majority of people--he concludes, it is still possible to practically and optimistically restain a sense of social accountability. Development as Freedom is essential reading.




This Time Is Different


Book Description

An empirical investigation of financial crises during the last 800 years.




A New Database on Financial Development and Structure


Book Description

This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.




Financial Sector Crisis and Restructuring


Book Description

An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.




Protecting the Poor from Macroeconomic Shocks


Book Description

To minimize the harmful impact on poor people of macroeconomic shock, sound policies for dealing with crises, and an adequate public safety net should be in place before a crisis starts.







Will the Real "natural Trading Partner" Please Stand Up?


Book Description

Adherents of the "natural trading partner" hypothesis argue that preferential trade agreements are more likely to improve welfare if participating countries already trade disproportionately with each other. Opponents argue the opposite. Neither side is right. The hypothesis holds up only if two countries are "natural trading partners" in the sense that one country tends to import what the other exports.




Comparing the Performance of Public and Private Water Companies in the Asia and Pacific Region


Book Description

Efficiency indicators can be useful to regulators assessing the efficiency of an operation and the wedge between tariff and minimum costs. They allow regulators to control for factors over which the operators have no control (such as diversity of water sources, or water quality or user characteristics).




Inter-industry Labor Mobility in Taiwan, China


Book Description

The proximity of industries is strongly related to inter-industry labor mobility, and there is some evidence that workers who move to closely similar industries receive higher wages. Knowledge is transmitted more easily when industries operate, and workers work, in close physical proximity.