October 2010&

A digest of new publications from the International Monetary Fund —the premier source for intelligence on global economic issues and policies

New NoteworthyTitles
NEW

Reconstructing the World Economy
edited by Olivier Blanchard and Il SaKong

This volume—based on a conference organized by the Korea Development
Institute and the IMF to discuss forward-looking economic and financial issuesof interest to the international community—covers topics such as strategies forrenormalizing fiscal and monetary policies in advanced economies; rethinking
macroeconomic policy and how it should respond to sectoral imbalances andasset-price and housing imbalances; global imbalances and the need to address thedomestic and international distortions that are a cause of imbalances; the future of
the international monetary system and the steps that can be taken to address theinherent weaknesses in the current system, including possible solutions on both thedemand side and the supply side.
$30. English. © 2010. xvi + 146pp. Paperback
ISBN 978-1-58906-977-0. Stock# SRFMEA

Economics of Sovereign Wealth Funds:
Issues for Policymakers

NEW

edited by Udaibir S. Das, Adnan Mazarei, and Han van der Hoorn

The book covers a wide range of topics
of relevance to policymakers in countries
that have sovereign wealth funds (SWFs)
and those that receive SWF investments.
Renowned experts in the field havecontributed chapters.The book isorganized around four themes: (1) the

In This Issue
The Global Economy

2

Regional Economic Outlooks

3

New and Forthcoming Publications

4

Co-Publications

6

Statistical Manuals and Guides

7

IMF Series

8role and macrofinancial linkages of SWFs,(2) institutional factors, (3) investment
approaches and financial markets, and(4) the post-crisis outlook.The book also
discusses the challenges facing sovereign
wealth funds in the coming years fromthe inside perspective of countries,
including Canada, Chile, China, New
Zealand, Norway, and Russia. Economicsof Sovereign Wealth Funds willcontribute to a further understandingof the nature, strategies, and behaviorof SWFs and the environment in which
they operate, as their importance is likely
to grow in the coming years.
$35. English. © 2010. xviii + 296pp. Paperback
ISBN 978-1-58906-927-5. Stock# SWFEA

www.imfbookstore.org

The Global Economy
World Economic Outlook
A unique international exercise in information gathering and analysis
The World Economic Outlook (WEO) presents the IMF’s leading economists’ analyses ofglobal economic developments during the near and medium term. It is a respected, one-stop,
trusted resource offering remarkable insight, balance, and perspective to decision makers
and policymakers worldwide.
Published twice yearly, the World Economic Outlook presents the outlook for growth,
inflation, trade, and other economic developments in a clear, practical format. Each WEO
considers the issues affecting advanced, emerging, and developing economies. Central
bankers, economists, financial institutions, business leaders, governments, thinktanks, and researchers eagerly await this unique investigation of what’s happening
and what’s ahead.
Annual subscription: $108. Paperback
Published twice yearly. ISSN: 0256-6877. Stock# WEOSEA
Available in Arabic, Chinese, English,
French, Russian, and Spanish.

Global Financial
Stability Report
Tracking global capital flows
The GFSR aims to deepen understanding of global capital flows, which play a critical roleas an engine of world economic growth. It focuses on current conditions in global financial
markets, highlighting issues of financial imbalances, and of a structural nature, that could
pose risks to financial market stability and sustained market access by emerging
market borrowers.
As a relatively frequent assessment of global financial markets and emerging
market financing in a global context, the GFSR focuses on relevant contemporary
issues, not attempting to be a comprehensive survey of all potential risks. It also
regularly contains special features on structural or systemic issues relevant tointernational financial stability.
The GFSR also draws out the financial ramifications of economic imbalances
highlighted by the WEO, making it an indispensable companion publication.
Annual subscription: $108. Paperback
Published twice yearly. ISSN: 1729-701X. Stock# GFSREA

Subscription Packages—All titles include both Spring and Fall editions.
Package Publications included in package

2

Total issues/year

Price

1

World Economic Outlook, Global Financial Stability Report,
Regional Economic Outlooks (5 regions)

14

$435

2

World Economic Outlook, Regional Economic Outlooks (5 regions)

12

$356

3

Global Financial Stability Report, Regional Economic Outlooks (5 regions)

12

$356

4

Regional Economic Outlooks (5 regions)

10

$262

5

World Economic Outlook, Global Financial Stability Report

4

$191

6

Global Financial Stability Report

2

$108

7

World Economic Outlook

2

$108

October 2010

Regional Economic Outlooks

www.imfbookstore.org

Regional Economic Outlooks
Managing vulnerabilities, fostering growth and poverty
reduction, maintaining macroeconomic stability
The five Regional Economic Outlooks published biannually by the IMF
cover Asia and Pacific, Europe, the Middle East
and Central Asia, Sub-Saharan Africa, and theWestern Hemisphere. In each volume, recent
economic developments and prospects for theregion are discussed as a whole, as well as for
specific countries. The reports include key datafor countries in the region. Each report focuses onpolicy developments that have affected economic
performance in the region, and discusses key
challenges faced by policymakers. The nearterm outlook, key risks, and their related policy
challenges are analyzed throughout the reports,
and current issues are explored, such as whenand how to withdraw public interventions infinancial systems globally while maintaining a stillfragile economic recovery. These indispensable
surveys are the product of comprehensive
intradepartmental reviews of economic
developments that draw primarily on information
the IMF staff gathers through consultation withmember countries.
Individual issues of the Regional Economic Outlooks
are available at $35 (academic rate: $30).
Please visit www.imfbookstore.org/REOs for further
information. Also, please see the box on page 2
for subscription package prices for our global andregional surveillance products.

3

New and Forthcoming Publications
Annual Report of the Executive Board, 2010
The 2010 Annual Report to the Board of Governors reviews the IMF’s activities andpolicies during the financial year (May 1, 2009 through April 30, 2010).There are
five chapters: (1) Overview, (2) Developments in the Global Economy and Financial
Markets, (3) Working to Support a Durable Global Recovery, (4) Strengthening theFund for the Challenges Ahead, (5) Finances, Organization, and Accountability.The full
financial statements for the year are published separately and are also available, alongwith appendixes and other supplementary materials, via the 2010 Annual Report
page on the IMF website: www.imf.org/external/pubs/ft/ar/2010/eng/index.htm.
Free. English. © 2010. x + 78 pp. Paperback. ISBN 978-1-61635-015-4. Stock# ARIEA2010001
Also available in Arabic, Chinese, French, German, Japanese, Russian, and Spanish

Annual Report on Exchange Arrangements andExchange Restrictions 2010
Only the IMF reports regularly on the foreign exchange arrangements,
exchange and trade restrictions, and prudential measures of its 187
member countries.
Published since 1950, this authoritative annual reference is based upon a unique
IMF database that tracks exchange and trade arrangements for the 187 IMF member
countries, along with Hong Kong SAR,Aruba, and the Netherlands Antilles.The
Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER)
draws together information on exchange measures in place, the structure andsetting of exchange rates, arrangements for payments and receipts, procedures forresident and nonresident accounts, mechanisms for import and export payments
and receipts, controls on capital transactions, and provisions specific to the financial
sector. The data are presented in a clear, easy-to-read tabular format. A summary
table allows for simple cross-country comparisons of key features of their exchange
and trade regimes.The report’s introduction summarizes recent global trends anddevelopments.The 2010 print edition comprises a printed pamphlet and CD-ROM
with fully searchable text.The presentation of the tables is consistent with earlier
print editions.The printed pamphlet contains a summary of the main changes foreach country and is a convenient reference tool.
We are pleased to announce that the AREAER database will soon be available
online. The online AREAER will provide access to the current year’s data and tohistorical data from 1999. A free trial of the online database will be available
later in 2010.
$230. English. © 2010. Approx. 80pp. Paperback summary with CD-ROM.
ISBN 978-1-61635-011-6 Stock# AEIEI2010001
For full pricing details, please go to http://www.imfbookstore.org/areaerpricing.asp

4

October 2010www.imfbookstore.org
Fiscal Monitor
With increasing fiscal challenges in the aftermath of the global financial crisis,
multilateral surveillance of fiscal developments, a key part of the IMF’s surveillance
responsibilities, has gained further importance. In response, the Fiscal Monitor was
launched in 2009 to survey and analyze the latest public finance developments,
update fiscal implications of the crisis and medium-term fiscal projections, and assess
policies to put public finances on a sustainable footing.
The Fiscal Monitor is prepared twice a year by the IMF’s Fiscal Affairs Department.
The Monitor’s projections are based on the same database used for the October 2010
World Economic Outlook (WEO) and Global Financial Stability Report.The fiscal
projections for individual countries have been prepared by IMF desk economists,
and, in line with the WEO guidelines, assume that announced policies will be
implemented.
English. Paperback. Individual issues of the Fiscal Monitor are available at $35 (academic rate: $30).
Annual subscription $53. Published twice yearly. Stock# FMOEA2010002

Macrofinancial Linkages: Trends, Crises, and Policies
edited by Christopher Crowe, Simon Johnson, Jonathan D. Ostry, and Jeromin Zettelmeyer“There is no more important macroeconomic issue today than understanding the links
between the macroeconomic environment and financial sector behavior. It is also
an area that is poorly understood.This compendium of very readable and insightful
research papers by the excellent researchers at the International Monetary Fund helps
fill serious gaps in our knowledge. It addresses issues like the effects of foreign capital
flows, the effects of monetary policy on asset prices, and the desirability of country
insurance. It is a must read for all those interested in international macroeconomics
and finance, including students, academics, and policymakers.”—Raghuram Rajan, University of Chicago, Booth School of Business$35. English. © 2010. xxviii + 587pp. Paperback
ISBN 978-1-58906-939-8. Stock# MFLIEA

Unwinding Financial Sector Interventions:
Preconditions and Practical Considerationsedited by Udaibir S. Das and Michael G. Papaioannou

Governments are now faced with the challenge of balancing the withdrawal of fiscal
support with reestablishing sound public finances and sustainable growth.This
volume presents papers from an IMF-sponsored conference on unwinding public
interventions initiated during the crisis. Policy objectives, unwinding public support
to banks, dealing with risky assets purchased by central banks, and views of what the
new financial landscape will look like are among topics discussed in detail.
$35. English. © 2010. viii + 84pp. Paperback
ISBN 978-1-58906-989-3. Stock# UFSIEA

5

Co-PublicationsNEW

IMF Economic Review
Launched in September 2010, IMF Economic Review is a new, significantly
enhanced research publication that publishes leading academic research from
top authors in the field. Studies that borrow from, and interact with, other fields
such as finance, international trade, political economy, labor, economic history, ordevelopment are welcomed.
The journal is required reading for anyone interested in international economic
policy or in macroeconomics. It emphasizes rigorous analysis, with an empiricalorientation that is of interest to a broad audience, including academics andpolicymakers.The first two issues of the IMF Economic Review include papers
presented at the prestigious IMF Jacques Polak Annual Research Conference on“Financial Frictions and Macroeconomic Adjustment.” Featured papers include
contributions on the role of asset-backed commercial paper markets, household
leverage, financial intermediation, the macroeconomics of debt overhang, anddeleveraging.

“IMF Economic Review is devoted to state-of-the-art research on the global economy. Given
the Fund’s unique position on the front lines of surveillance and crisis management, anyone
interested in international economic policy or in macroeconomics more generally will findthis journal to be essential reading.”—Maurice Obstfeld
University of California, Berkeley
A 2010 subscription will comprise four issues: two issues of IMF Staff Papers and two issues of IMF Economic Review.
The publication is a subscription product, available online and in print from Palgrave-Macmillan.
IMF Economic Review: ISSN:2041-4161 (print); ISSN:2041-417X (online). Full details at www.palgrave-journals.com/imfer/index.html.

NEW

The Taxation of Petroleum and Minerals:
Principles, Problems and Practiceedited by Philip Daniel, Michael Keen, and Charles McPherson“This book is a rich source of reference for all who are concerned with the fiscal
regimes for natural resources.”— Joseph C. Bell
Advisory Board, Revenue Watch Institute“A timely and welcome guide to policymakers and advisors in the area of resource
taxation, combining theoretical underpinnings and sound practical advice over arange of relevant topics, from tax design, through fiscal and financial modeling to tax
administration.”— Joseph Amoake-Tuffour
Ministry of Finance and Economic Planning, Republic of Ghana
Published by Routledge
US$150. © 2010. 368pp. Hardback. ISBN 978-0-415-56921-7
http://www.routledge.com/9780415569217

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October 2010www.imfbookstore.org

Statistical Manuals and Guides

Balance of Payments and International Investment
Position Manual, 6th Edition
The sixth edition of the Balance of Payments and International Investment
Position Manual presents revised and updated standards for concepts, definitions,and classifications for international accounts statistics.These standards are used
globally to compile comprehensive and comparable data.
The sixth edition is the latest in a series that the IMF began in 1948. It is the resultof widespread consultation and provides elaboration and clarification requested byusers. In addition, it focuses on developments such as globalization, financial market
innovation, and increasing interest in balance sheet analysis.
$80. English. © 2009. Approx. 450pp. Paperback
ISBN 978-1-58906-812-4. Stock# BPMEA2009001

International Transactions in Remittances:
Guide for Compilers and Users
This guide presents concepts, definitions, and classifications related toremittances. It is consistent with the new standards for measuring balanceof payments transactions, as contained in the sixth edition of the Balance ofPayments and International Investment Position Manual (BPM6).Thesestandards are used globally to compile comprehensive and comparable data.
The guide identifies the main remittances compilation methods currently
being used by compilers and discusses in detail the strengths and weaknessesof each method. It is the first manual providing compilation guidance for
remittances and is also the first compilation guide based on concepts set out
in BPM6.Although the guide is primarily aimed at remittances data compilers,
it may also be useful for users who wish to understand remittances data.
$25. English. © 2009. x + 82pp. Paperback
ISBN 978-1-58906-825-4. Stock# ITRGEA

Welcome to the IMF e-Library
The IMF e-Library offers in-depth,
independent analysis on demand.
The IMF e-Library simplifies analysis and research with direct access to
the IMF’s periodicals, books, working papers and studies, and data andstatistical tools. You’ll find information and perspectives on macroeconomics,
globalization, development, trade and aid, technical assistance, demographics,
emerging markets, policy advice, poverty reduction, and so much more.

www.elibrary.imf.org

7

www.imfbookstore.org

IMF Series
Departmental Papers

Department Papers are prepared by IMF functional departments in response to topics ofinterest among International Monetary Fund (IMF) member countries. Recent topics haveincluded fiscal consolidation, challenges facing low-income countries, wage policy and fiscal
sustainability in Benin, and challenges and policy options in Zimbabwe. For more information,please visit www.imfbookstore.org and, using the browse by “category” feature from the Home
page, click on Departmental Papers.

Staff Position Notes
Staff Position Notes is a Web-only series that showcases new policy-related analysis andresearch.These papers are generally brief and written in nontechnical language, and are aimed
at a broad audience interested in economic policy issues. For more information, please visit
www.imfbookstore.org and, using the browse by “category” feature from the Home page, clickon Staff Position Notes.

Technical Notes and Manuals
Technical Notes and Manuals are produced by IMF departments to expand the disseminationof their technical assistance advice.These papers present general advice and guidance, drawn
in part from unpublished technical assistance reports, to a broader audience.This series waslaunched in August 2009. For more information, please visit www.imfbookstore.org.

Working Papers
The IMF Working Papers series is designed to make IMF staff research available to a wide
audience.About 240 Working Papers are released each year, covering a wide range oftheoretical and analytical topics, including balance of payments, monetary and fiscal issues,
global liquidity, and national and international economic developments. Working Papers
published since 2003 are available at www.imfbookstore.org/workingpapers.

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