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Thomas Iida

IMF Survey: IMF Study Tracks Which Firms Go Global - 0 views

www.imf.org/...RES041708A.htm

imf survey globalization outsourcing wctaflatclassroomproject globalfcp6c

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  • Firms that raise money from overseas capital markets tend to be from larger countries with more open economies and better policies but with worse institutional conditions, according to an IMF study.
  • The study finds that financial integration has increased substantially but the benefits are widely shared by all firms.
  • Another view holds that better domestic environments can increase the attractiveness of firms to investors, especially foreign ones. Investors able to invest globally will generally offer larger amounts of external financing and lower cost as firms' host country fundamentals improve. Thus, better domestic fundamentals lead to more use of international capital markets under this view.
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  • Firms have many incentives to tap global markets, including lower cost of capital and better terms, access to wider investor bases, and the potential for more liquid securities. But while most studies find that internationalization yields some benefits for firms, analysis of which firm characteristics matter for internationalization has been sparser.
Thomas Iida

India: Linked or De-linked from the Global Economy? « iMFdirect - The IMF Blog - 0 views

blog-imfdirect.imf.org/...linked-from-the-global-economy

india imf outsourcing wctaflatclassroomproject globalfcp6c

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  • Although India’s economy has generally been less prone to external forces than many others, we still need to contend with the larger than typical risks in the global economy. These risks harken the need for a new wave of reforms.
  • In our latest Regional Economic Outlook for Asia, we expect India to grow by about 7½ percent in 2011 and 2012, only marginally below its estimated potential. Even within Asia, India does relatively well in this world.
  • India is less open to international trade than most other economies in the region. In particular, its rural consumption is fairly insulated from the world economy. More importantly, India’s exports are less dependent on advanced economies,
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  • India’s exports are more diversified—both geographically and in terms of the products it sells—than its neighbors and competitors.
  • In this scenario, India has to remain focused on the challenge of elevated inflation.
  • India has become more financially integrated with the global markets than commonly thought. We saw this in 2008, when India’s financial markets came under considerable pressure and investment became the main transmission channel, dipping substantially. To give another example, India’s stock market is one of the most correlated in the region with the VIX, a measure of market expectations of near-term stock market volatility and hence a good indicator of global risk aversion.
  • inflation remaining above the Reserve Bank of India’s comfort zone.
  • shift the composition of budgetary expenditures away from untargeted subsidies (such as those on fuel and fertilizer) and toward infrastructure, health, and education will help in both dimensions
  • The strength of domestic demand was, in large part, India’s saving grace when the crisis hit.
Thomas Iida

Issues Brief - Globalization: A Brief Overview - 0 views

www.imf.org/...053008.htm

globalfcp6c globalization wctaflatclassroomproject Outsourcing

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  • Economic "globalization" is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. There are also broader cultural, political, and environmental dimensions of globalization.
  • The value of trade (goods and services) as a percentage of world GDP increased from 42.1 percent in 1980 to 62.1 percent in 2007. Foreign direct investment increased from 6.5 percent of world GDP in 1980 to 31.8 percent in 2006. The stock of international claims (primarily bank loans), as a percentage of world GDP, increased from roughly 10 percent in 1980 to 48 percent in 2006.1 The number of minutes spent on cross-border telephone calls, on a per-capita basis, increased from 7.3 in 1991 to 28.8 in 2006.2 The number of foreign workers has increased from 78 million people (2.4 percent of the world population) in 1965 to 191 million people (3.0 percent of the world population) in 2005.
  • The growth in global markets has helped to promote efficiency through competition and the division of labor—the specialization that allows people and economies to focus on what they do best. Global markets also offer greater opportunity for people to tap into more diversified and larger markets around the world. It means that they can have access to more capital, technology, cheaper imports, and larger export markets. But markets do not necessarily ensure that the benefits of increased efficiency are shared by all.
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  • Perhaps more importantly, globalization implies that information and knowledge get dispersed and shared. Innovators—be they in business or government—can draw on ideas that have been successfully implemented in one jurisdiction and tailor them to suit their own jurisdiction.
  • Trade promotes economic resilience and flexibility, as higher imports help to offset adverse domestic supply shocks. Greater openness can also stimulate foreign investment, which would be a source of employment for the local workforce and could bring along new technologies—thus promoting higher productivity.
Thomas Iida

IMF Survey: Right Fiscal Policies Can Help Fight Income Inequality - 0 views

www.imf.org/...POL121611A.htm

Outsourcing wctaflatclassroomproject globalfcp6c imf

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  • Thomas Iida on 24 Feb 12
     
    IGNORE THIS ONE, NOT EVEN SAME TOPIC..
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