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External Sector Report 2023

2023-07-18
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Release : 2023-07-18
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Book Synopsis External Sector Report 2023 by : International Monetary

Download or read book External Sector Report 2023 written by International Monetary. This book was released on 2023-07-18. Available in PDF, EPUB and Kindle. Book excerpt: Global current account balances--the overall size of headline current account deficits and surpluses--widened for a third consecutive year in 2022. Main drivers were Russia's invasion of Ukraine, the uneven recovery from the pandemic, and the rapid tightening of US monetary policy. Concurrently, the US dollar appreciated substantially, and the uphill capital flow reappeared. IMF's external sector assessments suggest that the overall size of excess current account deficits and surpluses has remained unchanged since 2021, after declining for several years. This highlights the importance of efforts in both excess surplus and deficit economies to promote external rebalancing. The US dollar appreciation under the "global dollar cycle", which is driven primarily by global financial risks, has negative spillovers on activity and imports that fall on emerging market economies more severely than on advance economies. More flexible exchange rates and more anchored inflation expectations can mitigate negative spillovers to emerging markets.

External Sector Report 2024

2024-07-12 Business & Economics
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Release : 2024-07-12
Genre : Business & Economics
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Book Synopsis External Sector Report 2024 by : International Monetary Fund

Download or read book External Sector Report 2024 written by International Monetary Fund. This book was released on 2024-07-12. Available in PDF, EPUB and Kindle. Book excerpt: This year’s report provides the external sector assessment of 30 of the world’s largest economies on the basis of their 2023 data. With tight monetary policy conditions in key advanced economies continuing in 2023, the US dollar remained strong in 2023 and early 2024 by historical standards, while other reserve currency movements have been mixed. Net capital inflows to emerging market and developing economies recovered slightly from the lows experienced in 2022 but remained negative in 2023. Gross inflows and outflows in emerging markets declined, however. Against this background, the global current account balance (defined as the cross-country sum of absolute values of current account) narrowed significantly in 2023, while the excess global current account balance (in excess of the current account norms) has remained broadly unchanged relative to 2022. The report also analyzes the historical pattern in the external sector implications of energy price swings. Energy-importing countries are exposed to adverse effects of negative oil supply shocks but can adopt several policy measures to soften the impact. Possible implications of the clean energy transition and the evolving correlation between the oil price and US dollar are discussed. Lastly, the report contains external sector assessments of individual economies, which are based on a wide range of methods including a multilaterally consistent model of current accounts.

Rising Corporate Market Power

2021-03-15 Business & Economics
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Release : 2021-03-15
Genre : Business & Economics
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Book Rating : 080/5 ( reviews)

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Book Synopsis Rising Corporate Market Power by : Ufuk Akcigit

Download or read book Rising Corporate Market Power written by Ufuk Akcigit. This book was released on 2021-03-15. Available in PDF, EPUB and Kindle. Book excerpt: Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.

External Sector Report, July 2018

2018-07-23 Business & Economics
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Release : 2018-07-23
Genre : Business & Economics
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Book Rating : 367/5 ( reviews)

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Book Synopsis External Sector Report, July 2018 by : International Monetary Fund

Download or read book External Sector Report, July 2018 written by International Monetary Fund. This book was released on 2018-07-23. Available in PDF, EPUB and Kindle. Book excerpt: The External Sector Report presents a methodologically consistent assessment of the exchange rates, current accounts, reserves, capital flows, and external balance sheets of the world’s largest economies. The 2018 edition includes an analytical assessment of how trade costs and related policy barriers drive excess global imbalances.

External Sector Report 2022

2022-08-04 Business & Economics
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Release : 2022-08-04
Genre : Business & Economics
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Book Synopsis External Sector Report 2022 by : International Monetary Fund. Research Dept.

Download or read book External Sector Report 2022 written by International Monetary Fund. Research Dept.. This book was released on 2022-08-04. Available in PDF, EPUB and Kindle. Book excerpt: Global current account balances—the overall size of current account deficits and surpluses—continued to widen in 2021 to 3.5 percent of world GDP, and are expected to widen again this year. The IMF’s multilateral approach suggests that global excess balances narrowed to 0.9 percent of world GDP in 2021 compared with 1.2 percent of world GDP in 2020. The pandemic has continued to affect economies’ current account balances unevenly through the travel and transportation sectors as well as a shift from services to goods consumption. Commodity prices recovered from the COVID-19 shock and started rising in 2021 with opposite effects on the external position of exporters and importers, a trend that the war in Ukraine is exacerbating in 2022. The medium-term outlook for global current account balances is a gradual narrowing as the impact of the pandemic fades away, commodity prices normalize, and fiscal consolidation in current account deficit economies progresses. However, this outlook is highly uncertain and subject to several risks. Policies to promote external rebalancing differ with positions and needs of individual economies.

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