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This Business English Course introduces different aspects of Business English, working on main language points and important vocabulary through a variety of topics.
In the context of moral panics surrounding social media, the internet and video games and concerns over how digital media are affecting the young and their ability to learn and communicate effectively, leading...
The International Monetary Fund (IMF) publishes a wide variety of books, periodicals, and electronic products covering macroeconomics, international finance, fiscal and monetary issues, statistics, and exchange...
Crisis Stalls Globalization: Reshaping the World Economy" examines the multiple facets of the recession-from the impact on individual economies to the effect on the global payments imbalances that were partially...
The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to...
The domain of international entrepreneurship has continued to gain momentum in an era that sees entrepreneurship and globalization as critical issues in the world of business. Given the flourish of new research...
The imbalance between China's currency, the RMB, and those of other countries is widely regarded as a major problem for the world economy. There was a reform of China's exchange rate mechanism in 2005, following...
KEY ISSUES Context: The authorities continue to make progress on their far-reaching political and economic reform program. Key economic reform priorities are being realized. However, macroeconomic and financial...
Alexander Hamilton was the first U.S. Treasury Secretary from 1789 to 1795. When he started, the Federal Government was in default. During his tenure, U.S. Treasuries became the ultimate safe asset. He successfully...
This paper compiles and compares recent and past measures introduced to contain the public wage bill in a number of emerging and advanced economies to assess their effectiveness in bringing down expenditure...
Although cross-border bank lending has fallen sharply since the crisis, extending our bank ownership database from 1995-2009 up to 2013 shows only limited retrenchment in foreign bank presence. While banks from...
This paper examines the transmission mechanism through which unconventional monetary policy affects long-term interest rates. I construct a real-time measure summarizing market projections of the magnitude and...
KEY ISSUES Outlook and risks. Following an upturn in 2013, growth is expected to moderate somewhat during 2014-2015, narrowing the positive output gap. The impact of recovering demand in advanced economies is...
This paper assesses empirically the key drivers of private capital flows to a large sample of emerging market economies in the last decade. It analyzes the effect of the global financial cycle, measured by the...
Lebanon is expected to have gas resources in its Mediterranean basin, and these could turn the country into a natural gas producer over the next decade. Lebanon's economy and institutions will thus need to adapt...
We use a cross-country panel framework to analyze the effect of net official flows (chiefly foreign exchange intervention) on current accounts. We find that net official flows have a large but plausible effect...
This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture...
KEY ISSUES Context: Kenya has embarked on major reforms in line with the 2010 constitution. The new government has started the process of devolution at a fast pace, introducing a reporting framework that allows...
Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and...
EXECUTIVE SUMMARY Portugal�s practices meet most of the principles of the revised Fiscal Transparency Code at good or advanced levels. A number of areas still present practices at a basic level, but in...
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