Bank Offerings of Wealth Management Products: Market Innovations and Policy Guidance

Having broadly stabilized inflation over the past two decades, many policymakers in sub-Saharan Africa are now asking more of their monetary policy frameworks. They are looking to avoid policy misalignments and respond appropriately to both domestic and external shocks, including swings in fiscal policy and spikes in food and export prices. In many cases they are finding current regimes—often characterized as ‘money targeting’—lacking, with opaque and sometimes inconsistent objectives, inadequate transmission of policy to the economy, and difficulties in responding to supply shocks. At the same time, little existing research on monetary policy is targeted to low-income countries. What do we know about the empirics of monetary transmission in low-income countries? (How) Does monetary policy work in countries characterized by a huge share of food in consumption, underdeveloped financial markets, and opaque policy regimes? (How) Can we use methods largely derived in advanced countries to answer these questions? And (how) can we use the results to guide policymakers? This book draws on years of research and practice at the IMF and in central banks from the region to shed empirical and theoretical light on these questions and to provide practical tools and policy guidance. A key feature of the book is the application of dynamic general equilibrium models, suitably adapted to reflect key features of low-income countries, for the analysis of monetary policy in sub-Saharan African countries.

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A Conceptual Framework Integrating “Building Back Better” and Post-Earthquake Needs for Recovery and Reconstruction

Sustainability ◽

10.3390/su13105608 ◽

2021 ◽

Vol 13 (10) ◽

pp. 5608

Author(s):

Manjiang Shi ◽

Qi Cao ◽

Baisong Ran ◽

Lanyan Wei

Keyword(s):

Disaster Recovery ◽

Social Process ◽

Principal Component ◽

Assessment Method ◽

International Consensus ◽

Long Term Stability ◽

The People ◽

Policy Guidance ◽

The Impact ◽

Post Disaster

Global disasters due to earthquakes have become more frequent and intense. Consequently, post-disaster recovery and reconstruction has become the new normal in the social process. Through post-disaster reconstruction, risks can be effectively reduced, resilience can be improved, and long-term stability can be achieved. However, there is a gap between the impact of post-earthquake reconstruction and the needs of the people in the disaster area. Based on the international consensus of “building back better” (BBB) and a post-disaster needs assessment method, this paper proposes a new (N-BBB) conceptual model to empirically analyze recovery after the Changning Ms 6.0 earthquake in Sichuan Province, China. The reliability of the model was verified through factor analysis. The main observations were as follows. People’s needs focus on short-term life and production recovery during post-earthquake recovery and reconstruction. Because of disparities in families, occupations, and communities, differences are observed in the reconstruction time sequence and communities. Through principal component analysis, we found that the N-BBB model constructed in this study could provide strong policy guidance in post-disaster recovery and reconstruction after the Changning Ms 6.0 earthquake, effectively coordinate the “top-down” and “bottom-up” models, and meet the diversified needs of such recovery and reconstruction.

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Evolution and Disruption in the Wealth Management Industry

The Journal of Wealth Management ◽

10.3905/jwm.2017.19.4.008 ◽

2017 ◽

Vol 19 (4) ◽

pp. 8-13 ◽

Cited By ~ 2

Author(s):

Charlotte Beyer

Keyword(s):

Wealth Management

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