The authors examine the numerous structural and policy changes Indian authorities have adopted since the 1991 balance of payments crisis; how these changes helped India weather the Asian financial crisis of 1997-98; the risks to fiscal sustainability and their implications for growth; the challenges facing monetary policy in the face of financial market liberalization; and the benefits of structural reform and fiscal policy for growth, poverty, and the reduction of regional disparities.

Japan’s weak economic performance in the 1990s has had implications not only for its own people, but for the world economy more generally, given Japan’s importance as a trading partner and supplier of capital. Therefore, it is essential that Japan unlock its growth potential. The IMF has worked with the Japanese authorities to identify the policies needed to bring Japan’s economy out of its recent slump. This book contributes to this ongoing debate, whose major topics include the need for an ...

Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually th...

Saudi Arabia: Tackling Emerging Economic Challenges to Sustain Strong Growth

Beautiful and heartfelt. I know each one of these letters will help someone in the Grief Club. - Cariad LloydWelcome to the club you never wanted to join.When someone you love dies, it may seem impossible to know what will happen next and how you will cope. Losing someone in early adulthood, you may feel even more alone, when no-one around you seems to have had the same experience.Our letters don't have all the answers, but they do h...

Macrofinancial linkages have long been at the core of the IMF's mandate to oversee the stability of the global financial system. With the advent of the economic crisis, the Fund has drawn on this research in order to contribute to critical debates on the nature of appropriate policy responses at both the national and multilateral levels. The current juncture offers a good opportunity to take stock of this body of research by IMF staff and to share it with a wider audience, particularly sin...

In a world of increasing financial uncertainty and growing unemployment, the macroeconomic contribution of SMEs is more important than ever. Development of a vibrant, sustainable small firm sector is dependent on sufficient resourcing of SMEs, particularly adequate capitalisation. This book provides a timely examination of SME financing and determinants of capital structure. A special feature of this book is the novel methodological approach adopted, providing an innovative perspective on ...

In this important and timely study, Richard Saillant provides a compelling account of New Brunswick's perilous fiscal situation. In an engaging and accessible style, he explains how we got there and where we are headed unless we change course soon. Saillant provides New Brunswickers with a roadmap to steer away from the cliff and ensure that we do not bequeath an unmanageable burden to future generations."Richard Saillant has done New Brunswickers a great service... Should be r...

The Federal Reserve System--the central bank of the United States, better known as The Fed--has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its po...

A payment system encompasses a set of instruments and means generally acceptable in making payments; the institutional and organizational framework governing such payments, including prudential regulation; and the operating procedures and communications network used to initiate and transmit payment information from payer to payee and to settle payments. This book, by Omotunde E.G. Johnson, with Richard K. Abrams, Jean-Marc Destresse, Tony Lybek, Nicholas Roberts, and Mark Swinburne, identifie...

News and Views do they matter? Public affairs is fundamentally about communications. Communications move and change. They are reshaped, redirected, and repositioned as politics and events change. Each communication is vital observation that captures the essence of the politics and events of that time and provides a route to understanding them. Public Affairs : News, Views and Hullabaloos is a unique and compelling collection of author Stuart Thomson’s personal picks from his popular series...

'The Money Bomb' was launched on the morning of the Chancellor's Budget in April 1983 and although it was featured in the 1st Edition of the London Evening Standard, by the time the second edition was on the streets, the article on the 'Money Bomb' had been pulled. Similarly, orders taken earlier that day from retailers were mysteriously then cancelled.Clearly 'The Money Bomb' had hit a raw nerve with the authorities and the assumption is that the powers that be, must have felt it ...