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books on economics  - 
 
A preview of "Modernizing China," a book that analyzes the institutions and policies that govern important macroeconomic and financial areas in China, reviews reform progress, and suggests ways to strengthen policy frameworks further.
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books on economics  - 
 
China is at a critical juncture in its economic transformation as it tries to rebalance what is generally seen as an exhausted growth model. A unifying theme across the reforms that will deliver this transformation is that it can no longer be achieved by raising the amount of physical investment and government direction of resource allocation. Instead China is building a new set of policy frameworks that will allow markets to function more effectively—not unfettered markets, but markets that work efficiently, in line with broad social and other policy goals, and in a sustainable way. Hence, China is now building a new soft infrastructure, that is, the institutional plumbing that underpins and guides the functioning of markets as the key organizing principle toward achieving sustained economic and social progress. Against this background, this volume provides policymakers, academics, and the public with valuable information about policies and institutions in China today. It also looks at the road ahead and key principles that can help China in navigating it. The book focuses on issues crucial in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, capital account liberalization, and renminbi internationalization. As China moves toward a more price-based allocation of resources, strengthening monetary policy frameworks and financial sector regulation will be particularly important in channeling resources to the most productive sectors and minimizing the risks of financial sector stress. Also, upgrading statistical frameworks will be critical for macroeconomic policymaking and investors.
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development  - 
 
Given their limited resources, poorer countries can benefit substantially from improving the efficiency of their public investment. As documented in a recent IMF analysis, value for money in public investment varies considerably among low-income countries, and is generally lower than in other states. While the broad principles for improving public investment efficiency—for example, that capital expenditure should go to most productive projects—are well understood, institutional mechanisms to achieve this (effective cost-benefit analysis; transparent procurement) are not always in place.
By Tao Zhang and Vladimir Klyuev Versions in: عربي (Arabic), 中文 (Chinese), and Español (Spanish) Low-income countries should build more infrastructure to strengthen growth. A new IMF analysis looks…
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economic trends  - 
 
Global growth for 2016 is now estimated at 3.1 percent, in line with the October 2016 forecast. Economic activity in both advanced economies and EMDEs (emerging market and developing economies) is forecast to accelerate in 2017–18, with global growth projected to be 3.4 percent and 3.6 percent, respectively, again unchanged from the October forecasts. Advanced economies are now projected to grow by 1.9 percent in 2017 and 2.0 percent in 2018, 0.1 and 0.2 percentage points more than in the October forecast, respectively. As noted, this forecast is particularly uncertain in light of potential changes in the policy stance of the United States under the incoming administration. 
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The IMF will assess a range of financial systems in 2017: large ones such as China and Japan, medium-sized ones like Luxembourg, Spain, and Turkey, and small ones such as Guyana and Zambia. The Financial Sector Assessment Program remains the IMF’s principal tool for assessing countries’ financial stability. It identifies weaknesses in a country’s financial system that could threaten its stability, as well as strengths that make the system resilient. The IMF tailors country stability assessments to analyze issues of particular interest or concern in each country.In 2017, IMF teams of experts will focus on systemic risks, the health of banks, and contagion and spillover risks.

https://blog-imfdirect.imf.org/2017/01/05/countries-in-the-imf-financial-spotlight-in-2017/
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emerging markets  - 
 
Findings from this research on capital flows point to the need to take the composition of the inflows into account when assessing their costs and benefits. They also hint at the importance of a well-functioning global financial system as well as the domestic banking system for emerging markets to harness the growth benefits of capital inflows. Getting the right “fire safety measures” in place can help improve the trade-off that may be associated with capital inflow surges.
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China is at a critical juncture in its economic transformation as it tries to rebalance what is generally seen as an exhausted growth model. A unifying theme across the reforms that will deliver this transformation is that it can no longer be achieved by raising the amount of physical investment and government direction of resource allocation. Instead China is building a new set of policy frameworks that will allow markets to function more effectively—not unfettered markets, but markets that work efficiently, in line with broad social and other policy goals, and in a sustainable way. Hence, China is now building a new soft infrastructure, that is, the institutional plumbing that underpins and guides the functioning of markets as the key organizing principle toward achieving sustained economic and social progress. Against this background, this volume provides policymakers, academics, and the public with valuable information about policies and institutions in China today. It also looks at the road ahead and key principles that can help China in navigating it. The book focuses on issues crucial in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, capital account liberalization, and renminbi internationalization. As China moves toward a more price-based allocation of resources, strengthening monetary policy frameworks and financial sector regulation will be particularly important in channeling resources to the most productive sectors and minimizing the risks of financial sector stress. Also, upgrading statistical frameworks will be critical for macroeconomic policymaking and investors.
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economic trends  - 
 
IMF chief economist writes: "Our central projection is that global growth will rise to a rate of 3.4 percent in 2017 and 3.6 percent in 2018, from a 2016 rate of 3.1 percent. Much of the better growth performance we expect this year and next stems from improvements in some large emerging market and low income economies that in 2016 were exceptionally stressed. That being said, compared to our view in October, we now think that more of the lift will come from better prospects in the United States, China, Europe, and Japan. A faster pace of expansion would be especially welcome this year: global growth in 2016 was the weakest since 2008–09, owing to a challenging first half marked initially by turmoil in world financial markets. General improvement got under way around mid-year. For example, broad indicators of manufacturing activity in emerging and advanced economies have been in expansionary territory and rising since early summer. In many countries, previous downward pressures on headline inflation weakened, in part owing to firming commodity prices."
By Maurice Obstfeld Today we released our update to the World Economic Outlook. An accumulation of recent data suggests that the global economic landscape started to shift in the second half of 201…
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Global growth for 2016 is now estimated at 3.1 percent, in line with the October 2016 forecast. Economic activity in both advanced economies and EMDEs (emerging market and developing economies) is forecast to accelerate in 2017–18, with global growth projected to be 3.4 percent and 3.6 percent, respectively, again unchanged from the October forecasts. Advanced economies are now projected to grow by 1.9 percent in 2017 and 2.0 percent in 2018, 0.1 and 0.2 percentage points more than in the October forecast, respectively. As noted, this forecast is particularly uncertain in light of potential changes in the policy stance of the United States under the incoming administration. 
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Financial sector  - 
 
The IMF will assess a range of financial systems in 2017: large ones such as China and Japan, medium-sized ones like Luxembourg, Spain, and Turkey, and small ones such as Guyana and Zambia. The Financial Sector Assessment Program remains the IMF’s principal tool for assessing countries’ financial stability. It identifies weaknesses in a country’s financial system that could threaten its stability, as well as strengths that make the system resilient. The IMF tailors country stability assessments to analyze issues of particular interest or concern in each country. In 2017, IMF teams of experts will focus on systemic risks, the health of banks, and contagion and spillover risks.
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development  - 
 
More than half of IMF lending arrangements are with low-income countries. 
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globalization  - 
 
Historian Harold James takes a look back to help understand the dynamics of revolts against globalization—the movement of money, goods, people, ideas, technologies, and cultures across frontiers.
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IMF News - the news magazine of the International Monetary Fund -- global economic and financial analysis
Introduction
IMF News carries reports, views, and analysis from the International Monetary Fund. Intended for a broad audience, the articles feature insight into Fund operations, policy analyses, country developments, globalization, interviews with leading economists, and current issues in international finance. Selected articles are also published on the IMF’s Arabic, Chinese, French, Japanese, Russian, and Spanish websites.