The ability to provide financial assistance along with its role as auditor and guarantor of economic programs provides the International Monetary Fund (imf) with an important power resource when intervening countries that ...

This paper aims to present a non-linear dynamic model to evaluate the relationship between external savings and excessive external borrowings in emerging countries, resulted from large current account deficits. For this ...

More than one decade after the external debt restructuring (the Brady Plan), a great amount of literature has been published concerning the balance sheet factors in developing countries. The staff of international multilateral ...

In 2005, abundant global liquidity, as well as low bond yields and flat yield curves, encouraged investors to seek higher returns in emerging markets, compressing credit spreads and helping borrowers to increase new bond ...

The main task of this article is to assess the recent external debt dynamics and try to understand how this debt has evolved. Then, we discuss the main hypothesis associated with the well-known 'debt intolerance' approach. ...

Sub-Saharan African countries as a group showed a considerable reduction in public and external indebtedness in the early 2000s as a result of debt relief programs, higher economic growth and improved fiscal management ...

Building on recent evidence on the functioning of internal capital markets in financial conglomerates, this paper conducts a novel test of the balance sheet channel of monetary policy. It does so by comparing monetary ...

In this paper, we first compare house price cycles in advanced and emerging economies using a new quarterly house price data set covering the period 1990–2012. We find that house prices in emerging economies grow faster, ...