Amadou N. R. Sy
Last Updated: November 26, 2012
Amadou Sy, a Senegalese national, is currently Deputy Chief at the IMF's Monetary and Capital Markets Department. Previously, he taught macroeconomics and finance courses to mid- and senior level staff from central banks and ministries of finance as well as IMF staff. Amadou won the 2011 ICFR-Financial Times Runner-Up Prize for best research on financial regulation and has published in top journals, including, the Journal of Banking and Finance and IMF Staff Papers. He recently co-edited a book on policy advice for natural resource-rich countries. He holds a Ph.D. in Finance from McGill University where he lectured in finance and is a CFA Charter holder and a Certified Financial Risk Manager (GARP).
Email: asy@imf.org
Personal WebPage: http://authors.repec.org/pro/psy16/
Fluent In: French.
IMF Books and Working Papers:
Sovereign Rating News and Financial Markets Spillovers: Evidence from the European Debt Crisis, Working Paper No. 11/68, March 01, 2011
Beyond Aid: How Much Should African Countries Pay to Borrow?, Working Paper No. 10/140, June 01, 2010
Setting up a Sovereign Wealth Fund: Some Policy and Operational Considerations, Working Paper No. 09/179, August 01, 2009
The Systemic Regulation of Credit Rating Agencies and Rated Markets, Working Paper No. 09/129, June 01, 2009
Islamic Bond Issuance - What Sovereign Debt Managers Need to Know, Policy Discussion Paper No. 08/3, July 01, 2008
Local Currency Debt Markets in the West African Economic and Monetary Union, Working Paper No. 07/256, November 01, 2007
Capital Account Liberalization and Risk Management in India, Working Paper No. 07/251, October 01, 2007
Financial Integration in the West African Economic and Monetary Union, Working Paper No. 06/214, September 01, 2006
Distance-to-Default in Banking: A Bridge Too Far?, Working Paper No. 06/215, September 01, 2006
Managing the Interest Rate Risk of Indian Banks' Government Securities Holdings, Working Paper No. 05/78, April 01, 2005
Were Bid-Ask Spreads in the FX Market Excessive During the Asian Crisis?, Working Paper No. 05/34, February 01, 2005
The Role of Mature Market Mutual Funds in Emerging Markets: Myth or Mayhem?, Working Paper No. 04/133, July 01, 2004
Debt Crises and the Development of International Capital Markets, Working Paper No. 04/44, March 01, 2004
Rating the Rating Agencies: Anticipating Currency Crises or Debt Crises, Working Paper No. 03/122, June 01, 2003
Emerging Market Bond Spreads and Sovereign Credit Ratings: Reconciling Market Views with Economic Fundamentals, Working Paper No. 01/165, October 01, 2001
Currency Boards, Credibility, and Macroeconomic Behavior, Working Paper No. 00/97, June 01, 2000
Managerial Entrenchment and the Choice of Debt Financing, Working Paper No. 99/94, July 01, 1999
Publications in Refereed Journals
US Interest Rates and Emerging Market Bond Yield Spreads: A Changing Relationship? with C. Gueye, forthcoming Journal of Fixed Income
“Regulating Credit Rating Agencies: Where To Now?” 2011, Journal of Financial Transformation, 31, pp. 141-50
“Government Securities Markets in the West African Monetary Union: A Review,” 2010, African Development Review, Vol. 22, No. 2
“The Systemic Regulation of Credit Rating Agencies and Rated Markets,” 2009, World Economics, 10 (4), www.world-economics-journal.com,
“Islamic Bond Issuance: What Sovereign Debt Managers Need to Know,” 2008 with Jobst, Andreas, Kunzel, Peter, and Paul Mills, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 1, No. 4, pp. 330-344, Emerald, and Islamic Law and Law of the Muslim World Paper No. 09-63, Series at New York Law School
“Predicting Sovereign Debt Crises: Are Defaults Still Adequate?” 2007, with A. Pescatori, IMF Staff Papers, Volume 54/2, www.palgrave-journals.com
“Distance to Default in Banking: A Bridge Too Far?” 2007, with Jorge Chan Lau, Journal of Banking Regulation, 9, pp. 14 – 24, Nov 2007, www.palgrave-journals.com
“Managing the Interest Rate Risk of Indian Banks’ Government Securities Holdings,” Economic And Political Weekly, March 31-April 6, 2007, pp. 1211-1217, Vol XLII No 13, Mumbai, www.epw.org.in
“Were the bid-ask spreads in the FX market excessive during the Asian crisis?” 2006, with T. Becker, International Review of Financial Analysis, 15/4-5. pp.434-49, www.elsevier.com
“Rating the Rating Agencies: Debt Crises or Currency Crises,” 2004, Journal of Banking and Finance, 28, pp. 2845-67, www.elsevier.com
“Financial Market Integration in the WAEMU,” 2007, Journal of Financial Transformation, Monetary Union – Vol 19 - April 2007, www.capco.com
“Emerging Market Bond Spreads and Credit Ratings: Reconciling Market Views Economic Fundamentals” 2002, Emerging Markets Review, December, www.elsevier.com
“A Signaling Model of Currency Board Credibility,” with Maria L. Oliva and Luis A. Rivera-Batiz, Review of International Economics, November 2001, www.roie.org
Other Papers, Books, Comments
“Spillover in the US Municipal Bond Markets,” 2011 with R. Arezki, B. Candelon, and M. Sy, Finance and Development, September, Washington DC
“The Economics and Finance of Resource Rich Countries,” 2011, w. R.Arezki and T. Gylfason, Editors, IMF, Washington D.C., www.imf.org
“Managing the Risk of Credit Rating Downgrades: Lessons for Investors from Recent Crises,”2011, Asian Credit Review
“Bad News Spreads,” 2010, Finance & Development, December, Washington D.C.
“The Rise of Islamic Finance and Its Potential for Africa/Les Perspectives de la Finance Islamique en Afrique,” Podcasts, March 3 and February 22, 2011, http://www.imf.org/external/pubs/ft/survey/so/pvcast.aspx
“Setting Up a Sovereign Wealth Fund: Some Policy and Operational Considerations,” 2008 with U. Das, Y. Lu. And C. Mulder, “New Perspectives on Sovereign Asset Management” Edited By Malan Rietveld, Central Banking Publications
“Generally Accepted Principles and Practices—Santiago Principles,” (part of the Secretariat of the International Working Group of Sovereign Wealth Funds), 2008, contributor, www.iwg-swf.org
“Financial Market Integration in the WAEMU,” in “The CFA Franc Zone: Common Currency, Uncommon Challenges,” 2008, the CFA Franc Zone, edited by A. Gulde-Wolfe and Charalambos Tsangarides, IMF
“CEMAC: From a Monetary Union to Financial Integration,” with C. Durand, in “Building Monetary and Financial Systems: Case Studies in Technical Assistance,” edited by Charles Enoch et Al., 2007, IMF
“Fuller Capital Account Convertibility: Implications for Risk Management in India,” 2007, The Analyst, ICFAI, India, October and Professional Reference Book on "IUP on Indian Financial Markets: Regulatory Developments” edited by Dhandapani Alagiri, Icfai, Business School Research Center, Chennai.
“Fuller Capital Account Convertibility: Implications for Risk Management in India,” 2007, The Analyst, ICFAI, India, October
“Sovereign Ratings and Financial Crises,” 2004 in “Sovereign Risk and Financial Crises,” Eds. Michael Frenkel. Alexander Karmann and Bert Scholtens, Springer Publ
“Privatization Options,” 1997, with Vihang R. Errunza and Sumon Mazumdar, The Blackwell Encyclopedic Dictionary of Finance, Blackwell Publishers, re-edited in 2005.
External Publications
Amadou Sy, a Senegalese national, is currently Deputy Chief at the IMF's Monetary and Capital Markets Department. Previously, he taught macroeconomics and finance courses to mid- and senior level staff from central banks and ministries of finance as well as IMF staff. Amadou won the 2011 ICFR-Financial Times Runner-Up Prize for best research on financial regulation and has published in top journals, including, the Journal of Banking and Finance and IMF Staff Papers. He recently co-edited a book on policy advice for natural resource-rich countries. He holds a Ph.D. in Finance from McGill University where he lectured in finance and is a CFA Charter holder and a Certified Financial Risk Manager (GARP).
Email: asy@imf.org
Personal WebPage: http://authors.repec.org/pro/psy16/
Fluent In: French.
IMF Books and Working Papers:
Sovereign Rating News and Financial Markets Spillovers: Evidence from the European Debt Crisis, Working Paper No. 11/68, March 01, 2011
Beyond Aid: How Much Should African Countries Pay to Borrow?, Working Paper No. 10/140, June 01, 2010
Setting up a Sovereign Wealth Fund: Some Policy and Operational Considerations, Working Paper No. 09/179, August 01, 2009
The Systemic Regulation of Credit Rating Agencies and Rated Markets, Working Paper No. 09/129, June 01, 2009
Islamic Bond Issuance - What Sovereign Debt Managers Need to Know, Policy Discussion Paper No. 08/3, July 01, 2008
Local Currency Debt Markets in the West African Economic and Monetary Union, Working Paper No. 07/256, November 01, 2007
Capital Account Liberalization and Risk Management in India, Working Paper No. 07/251, October 01, 2007
Financial Integration in the West African Economic and Monetary Union, Working Paper No. 06/214, September 01, 2006
Distance-to-Default in Banking: A Bridge Too Far?, Working Paper No. 06/215, September 01, 2006
Managing the Interest Rate Risk of Indian Banks' Government Securities Holdings, Working Paper No. 05/78, April 01, 2005
Were Bid-Ask Spreads in the FX Market Excessive During the Asian Crisis?, Working Paper No. 05/34, February 01, 2005
The Role of Mature Market Mutual Funds in Emerging Markets: Myth or Mayhem?, Working Paper No. 04/133, July 01, 2004
Debt Crises and the Development of International Capital Markets, Working Paper No. 04/44, March 01, 2004
Rating the Rating Agencies: Anticipating Currency Crises or Debt Crises, Working Paper No. 03/122, June 01, 2003
Emerging Market Bond Spreads and Sovereign Credit Ratings: Reconciling Market Views with Economic Fundamentals, Working Paper No. 01/165, October 01, 2001
Currency Boards, Credibility, and Macroeconomic Behavior, Working Paper No. 00/97, June 01, 2000
Managerial Entrenchment and the Choice of Debt Financing, Working Paper No. 99/94, July 01, 1999
Publications in Refereed Journals
US Interest Rates and Emerging Market Bond Yield Spreads: A Changing Relationship? with C. Gueye, forthcoming Journal of Fixed Income
“Regulating Credit Rating Agencies: Where To Now?” 2011, Journal of Financial Transformation, 31, pp. 141-50
“Government Securities Markets in the West African Monetary Union: A Review,” 2010, African Development Review, Vol. 22, No. 2
“The Systemic Regulation of Credit Rating Agencies and Rated Markets,” 2009, World Economics, 10 (4), www.world-economics-journal.com,
“Islamic Bond Issuance: What Sovereign Debt Managers Need to Know,” 2008 with Jobst, Andreas, Kunzel, Peter, and Paul Mills, International Journal of Islamic and Middle Eastern Finance and Management, Vol. 1, No. 4, pp. 330-344, Emerald, and Islamic Law and Law of the Muslim World Paper No. 09-63, Series at New York Law School
“Predicting Sovereign Debt Crises: Are Defaults Still Adequate?” 2007, with A. Pescatori, IMF Staff Papers, Volume 54/2, www.palgrave-journals.com
“Distance to Default in Banking: A Bridge Too Far?” 2007, with Jorge Chan Lau, Journal of Banking Regulation, 9, pp. 14 – 24, Nov 2007, www.palgrave-journals.com
“Managing the Interest Rate Risk of Indian Banks’ Government Securities Holdings,” Economic And Political Weekly, March 31-April 6, 2007, pp. 1211-1217, Vol XLII No 13, Mumbai, www.epw.org.in
“Were the bid-ask spreads in the FX market excessive during the Asian crisis?” 2006, with T. Becker, International Review of Financial Analysis, 15/4-5. pp.434-49, www.elsevier.com
“Rating the Rating Agencies: Debt Crises or Currency Crises,” 2004, Journal of Banking and Finance, 28, pp. 2845-67, www.elsevier.com
“Financial Market Integration in the WAEMU,” 2007, Journal of Financial Transformation, Monetary Union – Vol 19 - April 2007, www.capco.com
“Emerging Market Bond Spreads and Credit Ratings: Reconciling Market Views Economic Fundamentals” 2002, Emerging Markets Review, December, www.elsevier.com
“A Signaling Model of Currency Board Credibility,” with Maria L. Oliva and Luis A. Rivera-Batiz, Review of International Economics, November 2001, www.roie.org
Other Papers, Books, Comments
“Spillover in the US Municipal Bond Markets,” 2011 with R. Arezki, B. Candelon, and M. Sy, Finance and Development, September, Washington DC
“The Economics and Finance of Resource Rich Countries,” 2011, w. R.Arezki and T. Gylfason, Editors, IMF, Washington D.C., www.imf.org
“Managing the Risk of Credit Rating Downgrades: Lessons for Investors from Recent Crises,”2011, Asian Credit Review
“Bad News Spreads,” 2010, Finance & Development, December, Washington D.C.
“The Rise of Islamic Finance and Its Potential for Africa/Les Perspectives de la Finance Islamique en Afrique,” Podcasts, March 3 and February 22, 2011, http://www.imf.org/external/pubs/ft/survey/so/pvcast.aspx
“Setting Up a Sovereign Wealth Fund: Some Policy and Operational Considerations,” 2008 with U. Das, Y. Lu. And C. Mulder, “New Perspectives on Sovereign Asset Management” Edited By Malan Rietveld, Central Banking Publications
“Generally Accepted Principles and Practices—Santiago Principles,” (part of the Secretariat of the International Working Group of Sovereign Wealth Funds), 2008, contributor, www.iwg-swf.org
“Financial Market Integration in the WAEMU,” in “The CFA Franc Zone: Common Currency, Uncommon Challenges,” 2008, the CFA Franc Zone, edited by A. Gulde-Wolfe and Charalambos Tsangarides, IMF
“CEMAC: From a Monetary Union to Financial Integration,” with C. Durand, in “Building Monetary and Financial Systems: Case Studies in Technical Assistance,” edited by Charles Enoch et Al., 2007, IMF
“Fuller Capital Account Convertibility: Implications for Risk Management in India,” 2007, The Analyst, ICFAI, India, October and Professional Reference Book on "IUP on Indian Financial Markets: Regulatory Developments” edited by Dhandapani Alagiri, Icfai, Business School Research Center, Chennai.
“Fuller Capital Account Convertibility: Implications for Risk Management in India,” 2007, The Analyst, ICFAI, India, October
“Sovereign Ratings and Financial Crises,” 2004 in “Sovereign Risk and Financial Crises,” Eds. Michael Frenkel. Alexander Karmann and Bert Scholtens, Springer Publ
“Privatization Options,” 1997, with Vihang R. Errunza and Sumon Mazumdar, The Blackwell Encyclopedic Dictionary of Finance, Blackwell Publishers, re-edited in 2005.