The effects of the adoption of the IMF's International Reserves and Foreign Currency Liquidity Data Template on nominal exchange rate volatility are investigated for 48 countries. Estimation of panel ...data models indicates that nominal exchange rate volatility decreases following dissemination of reserves template data while the effects of indebtedness and reserve adequacy on volatility exhibit statistically significant changes.
The Little Data Book on Private Sector Development 2007 is one of a series of pocket-sized books intended to provide a quick reference to development data on different topics. The Little Data Book on ...Private Sector Development 2007 provides data for more than 20 key indicators on business environment and private sector development in a single page for each of the World Bank member countries and other economies with populations of more than 30,000. These more than 200 country pages are supplemented by aggregate data for regional and income groupings. The data topics include -economic and social context -business environment -private sector investment -finance and banking -infrastructure It is intended as a quick reference for users of World Development Indicators, WDI Online, and the Atlas of Global Development. The book also includes data from the World Bank's Doing Business project and Enterprise Surveys.
This paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The ...paper builds on previous research by finding that an exchange rate policy biased towards currency depreciation and currency mismatches tends to contribute to high FD and that FD is highly persistent. These results suggest that countries with significant FD should encourage the use of domestic currency by maintaining macroeconomic stability; allowing more exchange rate flexibility and less bias towards currency depreciation; and adapting prudential regulations to ensure that costs associated with FD are fully internalized in financial contracts. At the same time, restoring confidence in the domestic currency may take many years of sound policies.
Measuring and managing exchange rate risk exposure is important for reducing a firm's vulnerabilities from major exchange rate movements, which could adversely affect profit margins and the value of ...assets. This paper reviews the traditional types of exchange rate risk faced by firms, namely transaction, translation and economic risks, presents the VaR approach as the currently predominant method of measuring a firm's exchange rate risk exposure, and examines the main advantages and disadvantages of various exchange rate risk management strategies, including tactical versus strategical and passive versus active hedging. In addition, it outlines a set of widely accepted best practices in managing currency risk and presents some of the main hedging instruments in the OTC and exchange-traded markets. The paper also provides some data on the use of financial derivatives instruments, and hedging practices by U.S. firms.
Civil service reform is often essential to bring about governanceimprovements that are needed for sustainable poverty reduction.A workshop hosted by the World Bank and the IMF in September ...2001provided a forum to review the effectiveness of Bank-Fund advice and programs on civil service reform, and to propose ways to improve jointefforts in coming years. Programs in 11 countries were examined, (Benin,Bolivia, Cambodia, Macedonia, Mali, Mongolia, Pakistan, Russia, Tanzania,Yemen, Zambia), and macrofiscal and structural outcomes of Bank-Fund workin those countries considered. This book is a joint publication betweenthe IMF and the World Bank.
