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Searching with a thematic focus on Aid and debt, Finance policy
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Fiscal Imbalances, Capital Inflows, and the Real Exchange Rate: The Case of Turkey
International Monetary Fund Working Papers, 1997This paper examines the links between fiscal policy, uncovered interest rate differentials, the real exchange rate, and capital inflows in Turkey since the late 1980s. The first part reviews recent macroeconomic developments in Turkey. It shows that capital inflows coincided with a period of significant deterioration in fiscal balances, high interest rates, and an appreciating real exchange rate.DocumentWhat Determines Real Exchange Rates? The Long and Short of It
International Monetary Fund Working Papers, 1997Recently, there has been a revival of interest in modeling the long-run behavior of nominal bilateral exchange rates using fundamentals such as relative prices.DocumentExchange Rate Regimes and Location
International Monetary Fund Working Papers, 1997This paper investigates the effects of fixed versus flexible exchange rate regimes on the location choices of firms and on the degree of specialization of countries. In a two-country two-differentiated-goods monetary model, demand, supply, and monetary (and exchange rate) shocks arise after wages are set and prices are optimally chosen.DocumentAdjusting to New Realities: MENA, The Uruguay Round, and the EU-Mediterranean Initiative
International Monetary Fund Working Papers, 1997The MENA region, with the exception of the GCC economies, is lagging behind in trade liberalization. This delay has had a negative impact on production efficiency and consumer welfare and will become more costly given the increasing globalization and integration of the world economy. It is likely to reduce the region's attractiveness for foreign investment.DocumentThe Egyptian stabilization experience : an analytical retrospective
International Monetary Fund Working Papers, 1997This paper analyzes the successful Egyptian stabilization experience during the 1990s, focusing on its distinctive features and contrasting them with the recent experiences of other developing countries that undertook adjustment. The successful stabilization provides a sound launching pad for Egypt's acceleration of structural reforms, which were designed to raise Egypt's economic growth rate.DocumentPolicy reform, adjustment costs, and investment : with activity of local investors as a signal
International Monetary Fund Working Papers, 1997DocumentCivil Service Reform in the Context of Structural Adjustment: Report on a Consultative Workshop, Maastricht, 27 - 28 July 1995
European Centre for Development Policy Management, 1995DocumentStructural and Sectoral Adjustment World Bank Experience, 1980-92
Operations Evaluations Division, World Bank, 1995Adjustment lending has been the subject of considerable scrutiny and debate. Six years ago, the Operations Evaluation Department (OED) published its first review of experience with this form of lending.DocumentSocial Dimensions of Adjustment:World Bank Experience, 1980-93
Operations Evaluations Division, World Bank, 1995The principal message of this study is that good macroeconomic policies and measures—combined with relevant sectoral policies and appropriate public expenditure allocation—provide a favorable environment for accelerating savings and investment, both necessary for sustained economic growth and poverty reduction (Figure 1).