Should Emerging Markets Worry About the Stock Market Correction?

Le Policy Center for the New South (PCNS) et le Fonds Monétaire International (FMI) ont organisé, le 28 avril, à Rabat, une table ronde d'experts sur le thème "Fighting Inflation and Building Resilience : the Outlook for MENA and Morocco". Au niveau international, la lutte contre l’inflation constitue la principale préoccupation des politiques économiques dans la majorité des pays. La détection des risques inflationnistes a pris du retard après la crise sanitaire parce que les aut ...

Recent initiatives and policy moves by China and other countries to extend the reach of use of the renminbi in the international monetary system, while the U.S. dollar share in global reserves has slightly shrunk in relative terms, have sparked frequent discussions about a hypothetical “de-dollarization” of the global economy. We approach here what that would mean in terms of global currency functions as means of payment and store of value. While we point out a relative decline of ...

The Policy Center for the New South and the Economic Research Forum held on March 20 a workshop titled ‘Stabilization and adjustment towards inclusive and sustainable policies in MENA: The Moroccan case study’. The event took place at the PCNS headquarters in Rabat, Morocco. It brought together renowned Moroccan economists and scholars to discuss the issue of public debt sustainability in the context of the Moroccan economy. It was an occasion to revisit the main features of the Mor ...

This paper was originally published as a chapter within the Book, Foreign Exchange Constraint and Developing Economies, published on January 2023 (ISBN  978 1 80088 049 8).   The decade after the global financial crisis (GFC) of 2007–2009 saw signifi- cant changes in the volume and composition of capital flows in the global economy. Portfolio investments and other non-bank financial intermediaries (NBFIs) are behind an increasing share of foreign capital flows, while ban ...

En Afrique, le niveau de la vulnérabilité économique des pays reste élevé et représente un obstacle à la croissance économique et à la réduction de la pauvreté. Ce constat nous mène à étudier cette problématique pour un échantillon des pays africains les plus exposés aux chocs économiques. En effet, ce travail a pour objectif principal d’identifier les effets des composantes des deux indicateurs de vulnérabilité et de résilience économique sur le niveau de reve ...

The US dollar has risen dramatically in value against other currencies recently. Three channels through which factors affecting bilateral exchange rates operate have been pulling up the U.S. dollar: yield differentials, liquidity differentials, and growth differentials. The strong appreciation of the US dollar against other currencies recently reinforced the contractionary pressures present in the global economy. Ultimately, the “turn” or “pivot” of the dollar will most likely occur ...