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Volume 56, Number 2, 2009
Last updated: June 2009
IMF Staff Papers

In 2010, IMF Staff Papers will publish its last issue. IMF Staff Papers will process no new submissions. In its place, a new journal will soon be launched. For inquiries about IMF Staff Papers, please send an e-mail to

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The Dynamics of Provincial Growth in China: A Nonparametric Approach
Bulent Unel, and Harm Zebregs

Central Bank Autonomy: Lessons from Global Trends
Marco Arnone, Bernard J Laurens, Jean-François Segalotto, and Martin Sommer

Do Unit Value Export, Import, and Terms-of-Trade Indices Misrepresent Price Indices?
Mick Silver

Why Has the Grass Been Greener on One Side of Hispaniola? A Comparative Growth Analysis of the Dominican Republic and Haiti
Laura Jaramillo, and Cemile Sancak

Special Section: Global Reach? Perspectives on U.S. International Spillovers

John Lipsky

Foreign Entanglements: Estimating the Source and Size of Spillovers Across Industrial Countries
Tamim Bayoumi and Andrew Swiston

Yen Carry Trade and the Subprime Crisis
Masazumi Hattori and Hyun Song Shin

Rhyme or Reason: What Explains the Easy Financing of the U.S. Current Account Deficit?
Ravi Balakrishnan, Tamim Bayoumi, and Volodymyr Tulin