01940cas a2200241 a 4500 AALejournalIMF016787 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484349113 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Luxembourg : 2016 Article IV Consultation-Press Release; Staff Report; Informational Annex; and Statement by the Executive Director for Luxembourg. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (53 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses growth prospects and downside risks of Luxembourg's economy. Luxembourg's small open economy plays a pivotal role in intermediating global capital flows. Deep-rooted traditions of fiscal prudence, business-friendly regulation, a skilled labor force, and low and predictable taxes have made Luxembourg a global financial center, home of multinational companies, and one of the richest countries in the European Union (EU). However, financial market stress could affect Luxembourg's performance. In case of severe external shocks, unraveling financial exposures could prompt dislocations in markets or institutions beyond the scope of the national authorities. The European Banking Union and EU financial regulations frameworks are particularly positive for Luxembourg. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/118 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/118/002.2016.issue-118-en.xml IMF e-Library