移民和汇款对拉丁美洲和加勒比地区经济 增长和劳动力参与的联合影响 Alina Carare 、 Alejandro Fiorito Baratas 、 Metodij Hadzi - Vaskov 、 Jessie Nabulambo Kilembe 和张文章 WP / 24 / 175 货币基金组织工作文件描述了作者正在进行的研究 ， 并发 表了这些论文 ， 以引起评论并鼓励辩论。 基金组织工作文件中表达的观点是作者的观点 ， 不一定代表 基金组织、其执行董事会或基金组织管理层的观点。 2024 AUG © 2024 国际货币基金组织 WP / 24 / 175 IMF 工作文件 西半球部 移民和汇款对移民的联合影响 拉丁美洲和加勒比地区的经济增长和劳动力参与 由 Alina Carare 、 Alejandro Fiorito Baratas 、 Metodij Hadzi - Vaskov 、 Jessie Nabulambo Kilembe 和张文章编写 * Bas Bakker 授权分发 2024 年 8 月 货币基金组织工作文件描述了作者正在进行的研究 ， 并发表了这些论文 ， 以引起评论并鼓励辩 ...

欧洲央行对新兴欧洲的溢出 效应 ： 过去和当前的经验 Philipp Engler, Gianluigi Ferrucci, Pawel Zabczyk, and Tianxiao Zheng WP / 24 / 170 货币基金组织工作文件描述了作者正在进行的研究 ， 并发 表了这些论文 ， 以引起评论并鼓励辩论。 基金组织工作文件中表达的观点是作者的观点 ， 不一定代表 基金组织、其执行董事会或基金组织管理层的观点。 2024 AUG © 2024 国际货币基金组织 WP / 24 / 170 IMF 工作文件 欧洲部 欧洲央行对新兴欧洲的溢出效应 ： 菲利普 · 恩格勒、吉安 · 路易吉 · 费鲁奇、帕维尔 · 扎 abczyk 和天晓 · 郑 * 编写的过去和现在的经验 Romain Duval 授权发行 2024 年 8 月 货币基金组织工作文件描述了作者正在进行的研究 ， 并发表了这些论文 ， 以引起评论并鼓励辩论。基金组织工作文件中表达 的观点是作者的观点 ， 不一定代表基金组织、其执行董事会或基金组织管理层的观点。 摘要 ：我们采用实证方法和基于模型的模拟相结合的方法，重点关注欧洲央行实施的利 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry or the Solomon Islands Central Bank [1]. Core Insights - The Solomon Islands Central Bank (CBSI) is seeking assistance from the International Monetary Fund (IMF) to strengthen its enterprise risk management (ERM) framework, which is crucial for enhancing risk governance and management practices [6][9]. - Significant progress has been made in implementing specific recommendations, including the establishment of a Risk Management Committee (RMC) and the revision of the Board Audit and Risk Committee (BARC) terms of reference to include risk management oversight [6][11]. - However, broader risk management recommendations, such as the development of a Risk Appetite Statement (RAS) and the integration of a comprehensive risk reporting system, have seen slower progress and need to be prioritized [6][11]. Summary by Sections I. Introduction - CBSI aims to enhance its ERM framework and cultivate a supportive risk management culture, with the Board responsible for assessing risks and developing contingency plans [9]. II. Implementation of Recommendations - The report evaluates CBSI's progress on previous recommendations, noting that while some high-priority suggestions have been implemented, others remain incomplete, particularly regarding the RAS and comprehensive risk reporting [11][13]. III. Risk Governance - Improvements in risk governance have been noted, including the establishment of the RMC and the formalization of BARC's responsibilities in risk oversight [18]. - The report emphasizes the need for comprehensive risk reporting to support effective decision-making and risk culture within CBSI [18]. IV. Three Lines Model and Risk Culture - The Three Lines Model is identified as a key driver for effective risk management, promoting risk ownership and enhancing risk mitigation efficiency [20]. - Initial steps have been taken to foster a risk culture within CBSI, with senior leadership recognizing the importance of embedding effective risk management practices [22]. V. Business Continuity/Critical Incident Management - The approach to business continuity management (BCM) is still maturing, with recommendations for establishing a structured framework and a critical incident management team [24]. - The report highlights the need for a formalized BCM process to ensure effective responses to business continuity events [24]. VI. Other Observations - Opportunities for departments to present their risk status to the RMC are encouraged to strengthen risk ownership and integrate risk management into daily responsibilities [26]. - The report suggests enhancing communication from senior management to reinforce the importance of risk management across the organization [27]. VII. Concluding Remarks - CBSI is making strides in embedding ERM practices, but further work is needed, particularly in implementing the RAS and comprehensive risk reporting, which are critical for enhancing governance [28].

Investment Rating - The report does not provide a specific investment rating for the industry [5]. Core Insights - The IMF's technical assistance mission to Seychelles aimed to restore the development of Government Finance Statistics (GFS) and Public Sector Debt Statistics (PSDS) after disruptions caused by COVID-19 and high staff turnover [5][7]. - The mission provided formal training and technical assistance in priority development areas, including classification of stocks and flows, updating GFS bridging tables, narrowing statistical discrepancies, and designing new GFS compilation tools to restore quarterly and annual fiscal statistics [5][7]. Summary by Sections Background - The technical assistance mission took place from April 8 to 19, 2024, in Victoria, Seychelles, at the request of the Seychelles authorities and with support from the IMF African Department [7]. - The mission aimed to assist the Ministry of Finance, National Planning, and Trade (MOFNPT) in improving GFS and PSDS compilation and dissemination according to international statistical standards and best practices [7]. Findings Summary - The institutional arrangements for compiling and disseminating GFS in Seychelles are not clearly defined or formalized, with responsibilities currently divided between MOFNPT and the Public Accounts Management and Treasury Department (PAMT) [8]. - The mission assisted in drafting a Public Sector Institution Table (PSIT) and recommended establishing a Global Financial Reporting Committee to enhance inter-agency coordination [8]. - The national budget preparation and Chart of Accounts (COA) are generally consistent with the 2001 Government Finance Statistics Manual (GFSM 2001) [9]. - The mission noted that the current accounting software used by MOFNPT faces operational challenges and that a new Integrated Financial Management Information System (IFMIS) is planned for implementation within the next 12 months [9][10]. - The mission reviewed and updated bridging tables consistent with the GFSM 2014 methodology, resulting in a temporary GFS report for 2017-2022 and monthly data for 2023 without statistical discrepancies [10]. Recommendations Summary - The report outlines priority recommendations with target dates, including clarifying institutional arrangements for GFS compilation by June 2024 and establishing a GFS Committee by August 2024 [12]. - Other recommendations include completing market testing for public enterprises and finalizing the PSIT by September 2024, as well as verifying temporary data prepared during the mission [12].

IMF 安排在恢复进入国际 资本市场中的作用 Joseph Kogan, Romina Kazandjian, Shijia Luo, Moustapha Mbohou Mama, 和回苗 WP / 24 / 173 货币基金组织工作文件描述了作者正在进行的研究 ， 并发 表了这些论文 ， 以引起评论并鼓励辩论。 基金组织工作文件中表达的观点是作者的观点 ， 不一定代表 基金组织、其执行董事会或基金组织管理层的观点。 2024 AUG © 2024 国际货币基金组织 WP / 24 / 173 IMF 工作文件 货币和资本市场部 国际货币基金组织安排在恢复国际资本市场准入中的作用由约瑟夫 · 科根、罗密娜 · 卡赞建、罗世佳、穆斯塔法 · 姆博 侯妈妈和回苗编写 * 玛丽 · 古德曼授权发行 2024 年 8 月 货币基金组织工作文件描述了作者正在进行的研究 ， 并发表了这些论文 ， 以引起评论并鼓励辩论。基金组织工作文件中表达的观 点是作者的观点 ， 不一定代表基金组织、其执行董事会或基金组织管理层的观点。 摘要 ：使用 2002 - 22 年期间 56 个前沿国家和评级低于投资级的新兴市场国家的新兴市场基 ...

创作部门 ： IMF|SEYCHELLES 中央银行战略规划 | i 技术援助报告 SEYCHELLES 中央银行战略规划 2024 年 8 月 编制人 Paul Woods 和 Thorvald Grung Moe 货币和资本市场部 免责声明 本报告的内容是国际货币基金组织 (货币基金组织) 工作人员根据塞舌尔当局的技术援助请求向他们提供的技术咨询。本报告 ( 全部或部分) 或其摘要可由基金组织向塞舌尔基金组织执行董事、基金组织其他执行董事及其工作人员披露。以及裁谈会受援 方的其他机构或机构，并应他们的请求，向世界银行工作人员以及其他有合法利益的技术援助提供者和捐助者，除非裁谈会受 援方明确反对这种披露 (见《关于传播能力发展信息的工作人员业务指南》) 。将本报告 （ 全部或部分 ） 发布或披露给除裁 谈会受援国机构或机构以外的货币基金组织以外的各方，世界银行工作人员，其他技术援助提供者和具有合法利益的捐助者应 得到裁谈会受援国和货币基金组织 MCM 部门的明确同意。 内容页 词汇表 4 前言 5 执行摘要 6 I. 导言 8 II. 战略规划和优先排序 9 III. Governance 11 IV. 多 ...

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Industry Overview - The startup ecosystem in Japan has seen gradual growth, supported by the government's "Startup Development Five-Year Plan" and significant interest from overseas venture capital [13] - Japan's venture capital equity funding remains relatively small as a share of GDP compared to global peers, with Tokyo emerging as a top 20 global VC hub [15][19] - The industrial composition of startups in Japan is similar to global peers, with most operating in IT, healthcare, and B2B sectors, though CleanTech startups are less prevalent [20] Funding and Investment Trends - Most investors in Japan's startups are from overseas, with US investors accounting for about 50% of funding between 2010 and 2023 [21] - Corporate venture capital (CVC) plays a significant role in Japan, with large corporations investing in at least half of all VC deals between 2015 and 2022 [22] - The Japan Investment Corporation launched a 200-billion-yen venture growth fund in 2023 to support later-stage startups and target early-stage startups beyond deep tech and life sciences [16] Firm-Level Analysis - Equity funding helps startups innovate, grow, and successfully exit, with well-funded startups having 1.5 times more employees and a 43 percentage point higher exit probability compared to non-well-funded startups [36] - The impact of funding on startup performance is higher in cultures that reward risk-taking, with less uncertainty avoidance and power distance associated with higher exit probabilities [37] - In Japan, well-funded startups are predicted to have 3.4 times more patent documents and a 51.9 percentage point higher exit probability compared to non-well-funded startups [46] Policy Implications - Better access to equity funding is crucial for startups to grow, innovate, and exit successfully, with angel or venture capital investment providing both financing and value-added services [49] - A more flexible labor market, including reducing labor-market dualism and encouraging merit-based promotions, can encourage entrepreneurship and innovation [50] - Greater firm dynamism, including dynamic firm entry and exit, can support startups and innovation by improving the allocation of capital and labor to more productive ventures [50]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - Income inequality in Japan has been steadily rising since the 1980s, now approaching the OECD average, with market income inequality increasing by nearly 60% from 1980 to 2019 [15][16]. - The increase in employment among females and the elderly has helped reduce income inequality, but this has been offset by their predominance in low-paid, part-time jobs [3][39]. - Fiscal redistributive effects from social transfers have been somewhat equalizing but are relatively weak in impact [3][39]. Summary by Sections A. Introduction - The report emphasizes the importance of addressing income inequality for sustainable growth, noting that higher inequality can reduce aggregate demand and hinder growth [13][14]. B. Macroeconomic Trends in Income Inequality - Market income inequality has risen significantly, with the Gini coefficient for market income increasing by nearly 60% since the 1980s [15][16]. - Gross and disposable income inequality have increased less dramatically, with disposable income inequality still higher than the OECD average [18][19]. C. Empirical Analysis: Data and Methodology - The analysis utilizes data from the Japan Household Panel Survey and the Keio Household Panel Survey, focusing on income sources from 2010 to 2019 [21][22]. - The Gini index is decomposed to understand the contributions of different income sources to overall inequality [24][25]. D. Results - Overall gross income inequality has slightly declined, while market income inequality has increased by 1.7% [29]. - Wage income constitutes about 70% of household income, with regular wage income being the largest component [30]. - Transfers have a redistributive effect, reducing inequality, while increases in regular employment and capital income have the opposite effect [34]. E. Policy Recommendations - Key recommendations include reducing labor market dualism, improving labor mobility, and better targeting social benefit programs to lower income inequality [56][57][58].

Japan's Fertility: More Children Please Japan Kohei Asao, Danila Smirnov, and TengTeng Xu SIP/2024/025 IMF Selected Issues Papers are prepared by IMF staff as background documentation for periodic consultations with member countries. It is based on the information available at the time it was completed on April 15, 2024. This paper is also published separately as IMF Country Report No. 24/119. 2024 JUN © 2024 International Monetary Fund SIP/2024/025 IMF Selected Issues Paper Asia and Pacific Department Japa ...