Enhancing Financial Sector Surveillance in Low-Income Countries - Background Paper

Policy Papers ◽  
2012 ◽  
Vol 2012 (25) ◽  
Author(s):  
Keyword(s):  
Policy Implementation ◽  
Financial Markets ◽  
Exchange Rates ◽  
Low Income ◽  
Financial Stability ◽  
Low Income Countries ◽  
Fiscal Policies ◽  
Financial Systems ◽  
Liquidity Management ◽  
Indirect Measures

This note provides an overview of the literature on the challenges posed by shallow financial systems for macroeconomic policy implementation. Countries with shallow markets are more likely to choose fixed exchange rates, less likely to use indirect measures as instruments of monetary policy, and to implement effective counter-cyclical fiscal policies. But causation appears to work in both directions, as policy stances can themselves affect financial development. Drawing on recent FSAP reports, the note also shows that shallow financial markets tend to increase foreign exchange, liquidity management, and concentration risks, posing risks for financial stability

Banks, Brokers, Bonds, and Currencies, 1970–92

2020 ◽  
pp. 36-56
Author(s):  
Ranald C. Michie
Keyword(s):  
Financial Markets ◽  
Exchange Rates ◽  
New World ◽  
Second World War ◽  
Financial Systems ◽  
Financial Activity ◽  
Divide And Rule ◽  
National Boundaries ◽  
Financial Transactions ◽  
Second World

After the Second World War governments prioritized banks over markets within both national and international financial systems. The result altered the balance between banks and financial markets firmly in the direction of the former. Banks responded by expanding, reaching a size and scale that allowed them to internalize financial transactions within a single organization. That position then changed from 1970 onwards with an end to the era of control and compartmentalization. The process of change involved the gradual removal of the national boundaries and segregated activities that had protected banks from competition. In this new world financial markets began to prosper. These included markets for stocks and bonds as well as the exponential growth of trading in foreign exchange as the regime of fixed exchange rates collapsed. This era saw the emergence of a new breed of megabanks that spanned the globe and engaged in all manner of financial activity. Serving their needs was a group of interdealer brokers who acted as intermediaries between these banks. The combination of the megabanks and the interdealer brokers undermined the ability of regulators to police both banks and financial markets through a policy of divide and rule.

Enhancing Financial Sector Surveillance in Low-Income Countries - Financial Deepening and Macro-Stability

Policy Papers ◽  
2012 ◽  
Vol 2012 (27) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Financial Stability ◽  
Low Income Countries ◽  
Financial Deepening ◽  
Macroeconomic Policies ◽  
Risk Return ◽  
Inherent Risk ◽  
Analytical Tools ◽  
Shed Light

This paper aims to widen the lens through which surveillance is conducted in LICs, to better account for the interplay between financial deepening and macro-financial stability as called for in the 2011 Triennial Surveillance Review. Reflecting the inherent risk-return tradeoffs associated with financial deepening, the paper seeks to shed light on the policy and institutional impediments in LICs that have a bearing on the effectiveness of macroeconomic policies, macro-financial stability, and growth. The paper focuses attention on the role of enabling policies in facilitating sustainable financial deepening. In framing the discussion, the paper draws on a range of conceptual and analytical tools, empirical analyses, and case studies.

scholarly journals Energy Generation through Integrated Sustainable Waste Management- Case Study NAXOS 2018

2020 ◽  
Vol 06 (09) ◽  
pp. 125-131
Author(s):  
Shalini Jaiswal Preeti Singh Bahadur and Manjari Jain
Keyword(s):  
Developing Countries ◽  
Waste Management ◽  
Solid Waste ◽  
Low Income ◽  
Financial Stability ◽  
Low Income Countries ◽  
Sustainable Waste Management ◽  
Power Module ◽  
Physical Elements ◽  
Management Case Study

The integrated waste management method used to examine solid waste problems in different developing countries along with their solution. Integrated sustainable waste management includes examination of physical elements like assemblage, dumping, and reprocessing as well as government role like involvement of consumers and facility suppliers; financial stability; rational institutions supported by coherent guidelines. The data shows that the performance has enhanced considerably over past 10 years in different developing countries. The mean collection and disposal rate of disposal in the middle 95% are even more common than in the low-income cities, even before 50%. Recycling rates of 20–30% have been achieved by the informal sector in many low-income countries. The evidence suggests that efficient, effective, and inexpensive systems are compatible with local requirements and conditions, developed with the direct involvement of service recipients. Despite the remaining challenges, evidence from recent reforms suggests that sustainable solid waste and resource management are possible for developing countries. The articles distributed right now a wide scope of themes, including vitality recuperation from squander, waste to vitality advances, maintainable vitality frameworks, anaerobic absorption, warm circular segment plasma gasification, microalgal-based biorefinery, squander the board, displaying of cutting edge gasification frameworks, squander valorisation, and microbial power module innovation.

scholarly journals COVID-19 Recession: The Global Economy in Crisis

2020 ◽  
Author(s):  
Mehmet Balcılar
Keyword(s):  
World War Ii ◽  
Financial Markets ◽  
Low Income ◽  
Global Economy ◽  
Global Scale ◽  
Commodity Markets ◽  
Low Income Countries ◽  
Global Recession ◽  
The World ◽  
Recent Developments

In January 2020, the International Monetary Fund (IMF) predicted that the world economy would grow by 3.3% in 2020. However, in its latest forecasts, in April, it predicts a contraction of 3.0%, without growth prospects and with numerous risks. The World bank even forecasts a 3.6% contraction in 2020. These forecasts are already seen as overestimates. Most baseline forecast envisions the deepest global recession since World War II. This study analyzes various economics impacts of the COVID-19 on a global scale. If the global recession expected due to the effects of the coronavirus (COVID-19) would lead to a decline in growth rate of global gross domestic product (GDP) between 2.0% and 10.% in all countries in 2020, the number of unemployed people in the net food importer countries would increase between 14.4 million and 80.3 million; the biggest part of the increase would occur in low-income countries. As the pandemic has shown its most severe impact on the largest world economies, the study considers the developments in United States, Euro Area, Japan and China. The recessions in these parts of the world spreads to the other countries and one should primarily consider these regions. Next we consider the trends in global trades, financial markets, and commodity markets. In association with the four regions of the global economy and trends in global trade, financial markets and commodity markets we consider recent developments in emerging markets.

Genesis of Development Macroeconomics and National Accounts in Developing Countries

2020 ◽  
pp. 127-138
Author(s):  
Giovanni Andrea Cornia
Keyword(s):  
Developing Countries ◽  
Low Income ◽  
Economic Performance ◽  
Informal Economy ◽  
Public Policies ◽  
Low Income Countries ◽  
Fiscal Policies ◽  
Demand Side ◽  
National Accounts ◽  
The Impact

The chapter discusses the reasons whycKeynesian policies and development macroeconomics in low-income countries received any attention relatively late, as well as the factors that led to a gradual acceptance of demand-side measures. It also discusses the data, conceptual, and accounting problems encountered when measuring economic performance in low-income countries, including the importance of self-consumption, barter, unilateral transactions, and unrecorded monetary transactions in the informal economy. All this reduces the impact of monetary and fiscal policies and underline the importance of structural policies. The chapter also discusses the accounting conventions and practices used to overcome such problems, and the impact all this has on the estimates of the main macroeconomic aggregates and the evaluation of the impact of public policies.

scholarly journals A sparse covarying unit that describes healthy and impaired human gut microbiota development

Science ◽  
2019 ◽  
Vol 365 (6449) ◽  
pp. eaau4735 ◽  
Author(s):  
Arjun S. Raman ◽  
Jeanette L. Gehrig ◽  
Siddarth Venkatesh ◽  
Hao-Wei Chang ◽  
Matthew C. Hibberd ◽  
...  
Keyword(s):  
Gut Microbiota ◽  
Financial Markets ◽  
Low Income ◽  
Low Income Countries ◽  
Healthy Children ◽  
Human Gut ◽  
Human Gut Microbiota ◽  
Formidable Challenge ◽  
Gnotobiotic Piglets ◽  
Milk Feeding

Characterizing the organization of the human gut microbiota is a formidable challenge given the number of possible interactions between its components. Using a statistical approach initially applied to financial markets, we measured temporally conserved covariance among bacterial taxa in the microbiota of healthy members of a Bangladeshi birth cohort sampled from 1 to 60 months of age. The results revealed an “ecogroup” of 15 covarying bacterial taxa that provide a concise description of microbiota development in healthy children from this and other low-income countries, and a means for monitoring community repair in undernourished children treated with therapeutic foods. Features of ecogroup population dynamics were recapitulated in gnotobiotic piglets as they transitioned from exclusive milk feeding to a fully weaned state consuming a representative Bangladeshi diet.

scholarly journals Drivers of Financial Access

2020 ◽  
Vol 20 (74) ◽  
Author(s):  
Corinne Deléchat ◽  
Lama Kiyasseh ◽  
Margaux MacDonald ◽  
Rui Xu
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Financial Stability ◽  
Sub Saharan Africa ◽  
Low Income Countries ◽  
Financial Access ◽  
Country Level ◽  
Macroprudential Policies ◽  
Sub Saharan ◽  
Emerging And Developing Countries

This study analyzes the drivers of the use of formal vs. informal financial services in emerging and developing countries using the 2017 Global FINDEX data. In particular, we investigate whether individuals’ choice of financial services correlates with macro-financial and macro-structural policies and conditions, in addition to individual and country characteristics. We start our analysis on middle and low-income countries, and then zoom in on sub-Saharan Africa, currently the region that most relies on informal financial services, and which has the largest uptake of mobile banking. We find robust evidence of an association between macroprudential policies and individuals’ choice of financial access after controlling for personal and country-level characteristics. In particular, macroprudential policies aimed at controlling credit supply seem to be associated with greater resort to informal financial services compared with formal, bank-based access. This highlights the importance for central bankers and financial sector regulators to consider the potential spillovers of monetary policy and financial stability measures on financial inclusion.

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