Do the ECB’s Monetary Policies Benefit Emerging Market Economies? A GVAR Analysis on the Crisis and Post-Crisis Period

2019 ◽  
Author(s):  
Andrea Colabella
Keyword(s):  
Emerging Market ◽  
Emerging Market Economies ◽  
Monetary Policies ◽  
Crisis Period ◽  
Market Economies

The non-financial sector debt: Global trends

2021 ◽  
Vol 27 (1) ◽  
pp. 41-62
Author(s):  
Konstantin V. KRINICHANSKII
Keyword(s):  
Emerging Market ◽  
Financial Sector ◽  
Debt Management ◽  
Emerging Market Economies ◽  
Monetary Policies ◽  
Global Trends ◽  
Market Economies ◽  
Time Period ◽  
Institutional Differences ◽  
Grouping Method

Subject. This article examines the non-financial sector debt ratio relative to the GDP of emerging and developed market economies. Objectives. The article aims to find out what institutional units show debt growth or reduction, what causes and conditions prevent debt decline or lead to its growth in different countries and sectors, and highlight the foundations of public policy in this area. Methods. For the study, I used a cross-country comparative analysis, grouping method, and graphical and trend analyses. The study covers 43 market economies, including 26 developed and 17 emerging ones. The time period is from Q4 2001 to Q4 2019. Results. The article identifies and describes the structural debt changes that have taken place since 2008, which include a reduction in private sector leverage and rising public sector debt in developed market economies, and accelerated growth in the non-financial corporations and households' debt in emerging market economies. Conclusions and Relevance. Given the different conditions of access to the capital market and the institutional differences between developed and emerging market economies, different approaches to debt management are needed. The identified trends are important to develop non-financial sector debt management policies, including both fiscal and monetary policies.

At a Glance …

2016 ◽  
Vol 236 ◽  
pp. 48-48
Keyword(s):  
United States ◽  
World Economy ◽  
Emerging Market ◽  
Oil Prices ◽  
The United States ◽  
Emerging Market Economies ◽  
List Type ◽  
Monetary Policies ◽  
Market Economies ◽  
The World

The world economy is expected to grow by 3.0 per cent in 2016, down from the 3.2 per cent predicted in the February Review. Growth this year is therefore forecast to be the slowest since the 2009 recession, before picking up to 3.5 per cent in 2017.The growth downgrade is mainly due to disappointing performances in the United States and Japan. Among the emerging market economies, growth has been also been revised down for Brazil and Russia.A moderate strengthening of growth is forecast for 2017 and beyond, supported by accommodative monetary policies, lower oil prices and the gradual normalisation of conditions in stressed emerging market economies.

Summary of Informal Discussions with Central Bankers and Other Officials on Unconventional Monetary Policies

Policy Papers ◽  
2013 ◽  
Vol 2013 (36) ◽  
Author(s):  
Keyword(s):  
Emerging Market ◽  
Central Banks ◽  
Emerging Market Economies ◽  
Conference Calls ◽  
Monetary Policies ◽  
Market Economies ◽  
Key Points ◽  
Central Bankers

A series of conference calls was held in March 2013 with selected representatives of central banks and other official agencies in advanced and emerging market economies to seek views on unconventional monetary policies (UMP). The key points raised during the discussions are summarized below. No views have been attributed to individual participants, and Fund staff is ultimately responsible for the contents of this summary.

Harinder S. Kohli (ed.). Growth and Development in Emerging Market Economies: International Private Capital Flows, Financial Markets and Globalisation. New Delhi: Sage Publication 2008. 369 pages. Hardbound. Indian Rs 695.00.

2008 ◽  
Vol 47 (3) ◽  
pp. 304-305
Author(s):  
Henna Ahsan
Keyword(s):  
Capital Flows ◽  
Growth And Development ◽  
Global Economy ◽  
Emerging Market ◽  
Balance Sheet ◽  
Emerging Market Economies ◽  
New Delhi ◽  
Infrastructure Development ◽  
Market Economies ◽  
Emerging Market Countries

The book discusses the different experiences in Asia and Latin America, while covering the closely related areas under the purview of Emerging Market Economies (EMEs). The first chapter, “Introduction and Overview” has written by Harinder S. Kohli gives an excellent review of the existing literature on the subject. The book discusses six related topics which include nine papers presented at the Emerging Markets Forum Meeting held in Jakarta, Indonesia, in September 2006. The book highlights the main factors of growth and development in Emerging Market Economies (EMEs) now closely related with international capital flows, development of financial market, the countries’ ability to integrate successfully with the global economy through trade and investment and their ability to forge public-private partnerships including infrastructure development. Chapter 2, of the book is an article titled “Global Imbalances, Oil Revenues and Capital Flows to Emerging Market Countries” by Jack Boorman explains the favourable global environment and its impact on capital flows to Emerging Market Countries (EMCs). The EMCs got advantage from this benign global economic environment, such as high economic growth rate, increase in exports, better national balance sheet and increase in foreign exchange reserves, but due to high oil prices the situation has been changed.

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