{
  "title": "Macroprudential Policies for a Resource Rich Economy The Case of Mongolia",
  "publication": "IMF Working Papers, January 22, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/macroprudential-policies-for-a-resource-rich-economy-the-case-of-mongolia-40261",
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  "summary": "This paper explores the extent to which macroprudential tools can be used to manage banking sector risks in Mongolia, a commodity producing country exposed to both procyclical and cross-sectional financial sector risks.",
  "sections": [
    {
      "heading": "Overview and Objective",
      "content": "- Paper explores the extent to which macroprudential tools can be used to manage banking sector risks in Mongolia, a commodity producing country exposed to both procyclical and cross-sectional financial sector risks.\n- Authors: Rodolfo Maino, Patrick A. Imam, Yasuhisa Ojima.\n- Date: January 22, 2013."
    },
    {
      "heading": "Key Findings and Risk Assessment",
      "content": "- Loose fiscal policy, rising credit activity, and heightened risk appetite—attributable to the commodity boom—are fuelling price volatility in asset markets.\n- Such price volatility poses significant risks to financial stability if left unchecked.\n- Rising interconnectedness, potential increase in dollarization, and concentrated exposures are compounding financial sector risks.\n- Macroprudential tools can complement fiscal and monetary policy adjustments to avoid the buildup of vulnerabilities in the banking sector."
    },
    {
      "heading": "Policy Implications and Recommendations",
      "content": "- Use macroprudential tools as a complement to:\n  - Fiscal policy adjustments.\n  - Monetary policy adjustments.\n- Focus macroprudential measures on:\n  - Managing procyclical risks arising from credit booms and asset price volatility.\n  - Addressing cross-sectional risks from concentrated exposures and interconnectedness.\n  - Mitigating risks associated with potential increases in dollarization.\n- Emphasize early identification of vulnerabilities to prevent systemic risk buildup in the banking sector."
    },
    {
      "heading": "Thematic Subjects and Keywords",
      "content": "- Subjects: Banking; Commercial banks; Credit; Financial institutions; Financial sector policy and analysis; Financial sector stability; Macroprudential policy; Money; Systemic risk.\n- Keywords: bank financial system regulator; banking system in Mongolia; Commercial banks; cost of capital; Credit; Financial sector stability; financial system; foreign exchange; Global; heightened risk appetite; inflation rate; Macrofinancial Linkages; Macroprudential Policies; Macroprudential policy; monetary policy; monetary policy tool; Mongolia; Mongolia context; Mongolia's financial system; natural resource curse; resource allocation; risk identification; Systemic Risk; WP.\n\n---\n\n Content in this bundle\n\n- wp1318\n  - wp1318 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp1318 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/macroprudential-policies-for-a-resource-rich-economy-the-case-of-mongolia-40261"
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    "Authors: Rodolfo Maino, Patrick A. Imam, Yasuhisa Ojima",
    "Published: January 22, 2013",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781475594881.001",
    "Paper explores the extent to which macroprudential tools can be used to manage banking sector risks in Mongolia, a commodity producing country exposed to both procyclical and cross-sectional financial sector risks.",
    "Authors: Rodolfo Maino, Patrick A. Imam, Yasuhisa Ojima.",
    "Date: January 22, 2013.",
    "Loose fiscal policy, rising credit activity, and heightened risk appetite—attributable to the commodity boom—are fuelling price volatility in asset markets.",
    "Such price volatility poses significant risks to financial stability if left unchecked.",
    "Rising interconnectedness, potential increase in dollarization, and concentrated exposures are compounding financial sector risks.",
    "Macroprudential tools can complement fiscal and monetary policy adjustments to avoid the buildup of vulnerabilities in the banking sector.",
    "Use macroprudential tools as a complement to:",
    "Focus macroprudential measures on:",
    "Emphasize early identification of vulnerabilities to prevent systemic risk buildup in the banking sector.",
    "Subjects: Banking; Commercial banks; Credit; Financial institutions; Financial sector policy and analysis; Financial sector stability; Macroprudential policy; Money; Systemic risk.",
    "Keywords: bank financial system regulator; banking system in Mongolia; Commercial banks; cost of capital; Credit; Financial sector stability; financial system; foreign exchange; Global; heightened risk appetite; inflation rate; Macrofinancial Linkages; Macroprudential Policies; Macroprudential policy; monetary policy; monetary policy tool; Mongolia; Mongolia context; Mongolia's financial system; natural resource curse; resource allocation; risk identification; Systemic Risk; WP.",
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