The Global Financial Crisis and Emerging Economies: EU Accommodation and Entrenchment in the IMF

2016 ◽  
pp. 157-177
Author(s):  
Robert Kissack
Keyword(s):  
Financial Crisis ◽  
Emerging Economies ◽  
Global Financial Crisis ◽  
The Global Financial Crisis ◽  
The Imf

scholarly journals The global financial crisis and its effects on the international monetary funds

2022 ◽  
Vol 42 (1) ◽  
pp. 5-24
Author(s):  
Cosimo Magazzino ◽  
Marco Mele
Keyword(s):  
Financial Crisis ◽  
International Monetary Fund ◽  
Global Financial Crisis ◽  
Economic Policies ◽  
A Posteriori ◽  
Ex Ante ◽  
The Global Financial Crisis ◽  
The International Monetary Fund ◽  
Economic And Financial Crisis ◽  
The Imf

ABSTRACT This paper aims to analyze the innovations introduced in the functions of the International Monetary Fund in the context of the 2008 economic and financial crisis. This promoted an action that aimed to strengthen the surveillance function through the adoption of the Integrated Surveillance. Thus, alongside the traditional conditionality based on an a posteriori implementation of adequate economic policies, a criterion of ex ante conditionality in the precautionary branches was also introduced or based on the economic characteristics of the country to be financed. Concerning traditional conditionality, it will be asked whether the IMF has adopted a less extensive approach than its role.

Investigating the Economic Vulnerability Factors of Emerging Markets After the Global Financial Crisis of 2008 With a Hybrid Multi-Criteria Decision-Making Approach

2018 ◽  
pp. 2114-2134
Author(s):  
Hasan Dinçer ◽  
Ümit Hacıoğlu
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Emerging Markets ◽  
Emerging Economies ◽  
Global Financial Crisis ◽  
Multi Criteria Decision Making ◽  
Vulnerability Factors ◽  
Economic Vulnerability ◽  
The Global Financial Crisis ◽  
The Relationship

The latest global financial crisis and its effects on emerging economies engaged researchers' attention to the relationship between economic vulnerability factors and financial crisis. Especially, infrastructure and growth-based factors directly impact on the economic vulnerability of emerging economies. In this study, it is aimed to investigate the economic vulnerability factors indicating the infrastructure and growth of emerging markets after the global financial crisis of 2008 with a hybrid multi criteria decision making approach. To clarify the relationship between the subjective causality structures of the real world problems DEMATEL and PROMETHEE techniques have been employed in the hybrid model. The results illustrate that (1) Nigeria has the highest degree of the economic vulnerability in each year after the global financial crisis, and (2) Mexico for 2009, Turkey for 2012, and Korea for 2015 have the lowest degree of exogenous economic and environmental shocks among the selected emerging markets.

The imposing of constraints on capital flows in emerging economies

2015 ◽  
Vol 57 (5) ◽  
pp. 400-416
Author(s):  
Peter Yeoh
Keyword(s):  
Financial Crisis ◽  
Emerging Economies ◽  
Global Financial Crisis ◽  
Secondary Data ◽  
Capital Controls ◽  
Policy Option ◽  
Primary Data ◽  
Content Type ◽  
Study Approach ◽  
The Imf

Purpose – The purpose of this paper is to review the practicality and implications of capital controls in emerging economies in the international financial landscape subsequent to the 1997 Asian financial crisis (AFC) and the 2008 global financial crisis (GFC). Design/methodology/approach – The doctrinal approach used in this study relies primarily on primary data from relevant statutes and regulations in the capital and financial markets, and secondary data from research findings of published sources available in the public domain. It also makes concurrent use of the case study approach. Findings – The disdain over the use of capital controls by emerging economies such as Malaysia in the 1997 AFC by multilateral agencies like the International Monetary Fund (IMF) since then and particularly after the 2008 GFC and the 2011/2012 European financial crisis (EFC) has been quietly and gradually transformed into a viable policy option under defined circumstances, especially at the IMF and global forums like the G20. The 1997 AFC in particular induced East Asian economies and others to strengthen the macroeconomic and financial positions, such that they were not only able to withstand the impacts of the 2008 GFC and the 2011/2012 EFC but also contributed to their gradual recoveries through their participation as net lenders to the IMF. The enhanced confidence of these emerging economies to use various capital controls without seeking IMF support spawned new thinking at the IMF to result in the introduction of policy guidelines sanctioning the use of capital controls under particular circumstances. Research limitations/implications – The paper is constrained by the usual limitations connected with qualitative studies, but this is generally mitigated by triangulation of perspectives and so on. Originality/value – This paper provides a critical overview of the pros and cons of capital controls. In particular, it analyses the implications of capital controls as a policy option for emerging economies when facing severe financial crisis. It also critically discusses how and why flowing from the aftermath of its application by Malaysia in the 1997 AFC and subsequent employment by other successful emerging economies in response to the 2008 GFC and 2011/2012 EFC, multilateral institutions such as the IMF and international forum like the G20 developed a more positive approach toward the use of capital controls.

scholarly journals Managing Systemic Banking Crises

2020 ◽  
Vol 20 (05) ◽  
Author(s):  
Marina Moretti ◽  
Marc Dobler ◽  
Alvaro Piris Chavarri
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Technical Assistance ◽  
Global Financial Crisis ◽  
Banking Crises ◽  
Executive Board ◽  
The Global Financial Crisis ◽  
The Imf

This paper updates the IMF’s work on general principles, strategies, and tech-niques from an operational perspective in preparing for and managing sys-temic banking crises in light of the experiences and challenges faced during and since the global financial crisis. It summarizes IMF advice concerning these areas from staff of the IMF Monetary and Capital Markets Department (MCM), drawing on Executive Board Papers, IMF staff publications, and country documents (including program documents and technical assistance reports). Unless stated otherwise, the guidance is generally applicable across the IMF membership.

2011 Triennial Surveillance Review and Review of the 2007 Decision - Concept

Policy Papers ◽  
2011 ◽  
Vol 2011 (9) ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Recent Experience ◽  
Reform Agenda ◽  
The Past ◽  
Run Up ◽  
The Global Financial Crisis ◽  
The Imf

Over the past three years, the IMF has worked to assist members in addressing the repercussions of the global financial crisis while also tackling gaps in its surveillance framework that the crisis laid bare. This reform agenda has drawn extensively from the recommendations of the 2008 Triennial Surveillance Review (TSR), as well as subsequent IMF and IEO reviews of the Fund's performance in the run-up to the crisis. This TSR provides an opportunity to take stock of the steps taken and to assess recent experience with surveillance.

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