Drivers of Financial Access: the Role of Macroprudential Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Drivers of Financial Access: the Role of Macroprudential Policies write by Corinne Deléchat. This book was released on 2020-05-29. Drivers of Financial Access: the Role of Macroprudential Policies available in PDF, EPUB and Kindle. This study analyzes the drivers of the use of formal vs. informal financial services in emerging and developing countries using the 2017 Global FINDEX data. In particular, we investigate whether individuals’ choice of financial services correlates with macro-financial and macro-structural policies and conditions, in addition to individual and country characteristics. We start our analysis on middle and low-income countries, and then zoom in on sub-Saharan Africa, currently the region that most relies on informal financial services, and which has the largest uptake of mobile banking. We find robust evidence of an association between macroprudential policies and individuals’ choice of financial access after controlling for personal and country-level characteristics. In particular, macroprudential policies aimed at controlling credit supply seem to be associated with greater resort to informal financial services compared with formal, bank-based access. This highlights the importance for central bankers and financial sector regulators to consider the potential spillovers of monetary policy and financial stability measures on financial inclusion.
Key Aspects of Macroprudential Policy
Key Aspects of Macroprudential Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Key Aspects of Macroprudential Policy write by International Monetary Fund. Fiscal Affairs Dept.. This book was released on 2013-10-06. Key Aspects of Macroprudential Policy available in PDF, EPUB and Kindle. The crisis has underscored the costs of systemic instability at both the national and the global levels and highlighted the need for dedicated macroprudential policies to achieve financial stability. Building on recent advances, this paper provides a framework to inform the IMF’s country-specific advice on macroprudential policy. It recognizes that developing macroprudential policy is a work in progress, and addresses key issues to help ensure its effectiveness.
Staff Guidance Note on Macroprudential Policy
Staff Guidance Note on Macroprudential Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Staff Guidance Note on Macroprudential Policy write by International Monetary Fund. This book was released on 2014-06-11. Staff Guidance Note on Macroprudential Policy available in PDF, EPUB and Kindle. This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
On the use of Monetary and Macroprudential Policies for Small Open Economies
On the use of Monetary and Macroprudential Policies for Small Open Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook On the use of Monetary and Macroprudential Policies for Small Open Economies write by Mr.F. Gulcin Ozkan. This book was released on 2014-06-24. On the use of Monetary and Macroprudential Policies for Small Open Economies available in PDF, EPUB and Kindle. We explore optimal monetary and macroprudential policy rules for a small open economy. Delegating 'lean against the wind' squarely to macroprudential policy provides a more robust policy mix to shock uncertainty—(i) if macroprudential measures exist, there are no significant welfare gains from monetary policy reacting to credit growth under a financial shock; and (ii) monetary responses to financial markets could generate bigger welfare losses than macroprudential responses under different shocks. The source of outstanding liabilities also plays a role in the choice of policy instrument— macroprudential policies are particularly effective for emerging markets where foreign borrowing is sizeable.
Key Aspects of Macroprudential Policy - Background Paper
Key Aspects of Macroprudential Policy - Background Paper - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Key Aspects of Macroprudential Policy - Background Paper write by International Monetary Fund. Fiscal Affairs Dept.. This book was released on 2013-10-06. Key Aspects of Macroprudential Policy - Background Paper available in PDF, EPUB and Kindle. The countercyclical capital buffer (CCB) was proposed by the Basel committee to increase the resilience of the banking sector to negative shocks. The interactions between banking sector losses and the real economy highlight the importance of building a capital buffer in periods when systemic risks are rising. Basel III introduces a framework for a time-varying capital buffer on top of the minimum capital requirement and another time-invariant buffer (the conservation buffer). The CCB aims to make banks more resilient against imbalances in credit markets and thereby enhance medium-term prospects of the economy—in good times when system-wide risks are growing, the regulators could impose the CCB which would help the banks to withstand losses in bad times.
