07506oam 22015494 450 991078552830332120230801224030.01-4755-4381-61-4755-7201-8(CKB)2670000000234725(EBL)1587746(SSID)ssj0000817873(PQKBManifestationID)11460608(PQKBTitleCode)TC0000817873(PQKBWorkID)10831476(PQKB)11171853(MiAaPQ)EBC1587746(Au-PeEL)EBL1587746(CaPaEBR)ebr10590657(OCoLC)843055302(IMF)CACPEE(IMF)CACPEA(EXLCZ)99267000000023472520020129d2012 uf 0engur|n|---|||||txtccrCentral America, Panama, and the Dominican Republic : Challenges Following the 2008-09 Global Crisis: Challenges Following the 2008-09 Global Crisis /Marco Piñón-Farah, Alejandro Lopez Mejia, M. (Mario) Garza, Fernando DelgadoWashington, D.C. :International Monetary Fund,2012.1 online resource (462 p.)Includes index.1-61635-378-3 1-4755-6873-8 Cover Page; Title Page; Copyright Page; Contents; Structural Reforms; Fiscal Policy; Monetary Policy and Bank Supervision; Foreword; Overview; Abbreviations; Part I: Central America, Panama, And The Dominican Republic Before And During The Global Financial Crisis; 1 External Linkages and Economic Integration as of 2009; 2 The 2008-09 Global Crisis: Impact, Policy Responses, and the Role of the IMF; Part II Policy Challenges: A View From 2011; 3 The Challenge of Boosting Growth; 4 A Framework for Assessing the Level of Public Debt; 5 The Fiscal Position: Prospects and Options for Adjustment6 Monetary Policy Frameworks7 Official Dollarization in El Salvador as an Alternative Monetary Framework; 8 The Effectiveness of Monetary Policy; 9 Financial Supervision and Macroprudential Policies; Contributors; Index; External Linkages and Economic Integration as of 2009; Footnotes; The 2008-09 Global Crisis: Impact, Policy Responses, and the Role of the IMF; The Challenge of Boosting Growth; A Framework for Assessing the Level of Public Debt; The Fiscal Position: Prospects and Options for Adjustment; Monetary Policy FrameworksOfficial Dollarization in El Salvador as an Alternative Monetary FrameworkThe Effectiveness of Monetary Policy; Financial Supervision and Macroprudential PoliciesCentral America, Panama, and the Dominican Republic coped well with the global financial crisis of 2008-09. The impact was generally less severe and shorter lived than in previous episodes, the balance of payments adjustment was orderly, and the stability of the financial system was not compromised. This resilience can be attributed to a large extent to the strengthening of the fiscal frameworks, monetary management, and financial reforms conducted in the years preceding the global crisis. Nevertheless, the region faces considerable challenges for the period ahead, including the need to raise medium term growth above historical levels and protect macroeconomic and financial stability. This book argues that meeting these challenges will have to come from within, in light of the anticipated modest demand growth from trade partners. Raising growth in the region will depend on the adoption of structural reforms that generate substantial productivity gains. Rebuilding fiscal space and securing debt sustainability will hinge on efforts to increase tax revenue and reorienting spending to social and investment priorities. In the non-officially dollarized economies, it will also be essential to strengthen the monetary policy frameworks to keep inflation low and increase exchange rate flexibility, and improve financial regulation and supervision.BooksGlobal Financial Crisis, 2008-2009Banks and BankingimfFinance: GeneralimfMacroeconomicsimfMoney and Monetary PolicyimfPublic FinanceimfForeign ExchangeimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfDebtimfDebt ManagementimfSovereign DebtimfInterest Rates: Determination, Term Structure, and EffectsimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfTaxation, Subsidies, and Revenue: GeneralimfMonetary PolicyimfBankingimfPublic finance & taxationimfMonetary economicsimfFinancial services law & regulationimfPublic debtimfCentral bank policy rateimfRevenue administrationimfMonetary policy frameworksimfFinancial servicesimfMonetary policyimfDollarizationimfCurrenciesimfMoneyimfBanks and bankingimfDebts, PublicimfInterest ratesimfState supervisionimfRevenueimfCentral AmericaEconomic conditionsDominican RepublicimfGlobal Financial Crisis, 2008-2009.Banks and BankingFinance: GeneralMacroeconomicsMoney and Monetary PolicyPublic FinanceForeign ExchangeBanksDepository InstitutionsMicro Finance InstitutionsMortgagesDebtDebt ManagementSovereign DebtInterest Rates: Determination, Term Structure, and EffectsMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsTaxation, Subsidies, and Revenue: GeneralMonetary PolicyBankingPublic finance & taxationMonetary economicsFinancial services law & regulationPublic debtCentral bank policy rateRevenue administrationMonetary policy frameworksFinancial servicesMonetary policyDollarizationCurrenciesMoneyBanks and bankingDebts, PublicInterest ratesState supervisionRevenuePiñón-Farah Marco1484485Lopez Mejia Alejandro1147222Garza M. (Mario)1484486Delgado Fernando270115International Monetary Fund.DcWaIMFBOOK9910785528303321Central America, Panama, and the Dominican Republic3819123UNINA