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Sudden Stops and IMF-Supported Programs [electronic resource] Eichengreen, Barry J..

Author/Creator:
Eichengreen, Barry J.
Publication:
Washington, D.C. : International Monetary Fund, 2006.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 06/101.
IMF Working Papers; Working Paper No. 06/101
Format/Description:
Government document
Book
1 online resource (53 p.)
Local subjects:
Amount of debt.
Balance of payment.
Balance of payments.
Call options.
Capital account crises.
Capital controls.
Capital flow.
Capital flow reversals.
Capital flows.
Capital formation.
Capital inflows.
Capital market.
Capital markets.
Capital mobility.
Capital movements.
Capital outflow.
Capital outflows.
Central bank.
Commercial credits.
Commodity prices.
Crisis countries.
Crisis country.
Crisis prevention.
Currency composition.
Currency crises.
Currency crisis.
Currency debt.
Current account.
Current account adjustment.
Current Account Adjustments.
Current account balance.
Current account deficit.
Current account deficits.
Current account surplus.
Debt crisis.
Debt problems.
Debt ratios.
Debt rescheduling.
Debt service.
Debt service to exports.
Debt servicing.
Debt sustainability.
Domestic borrowing.
Domestic credit.
Domestic growth.
Economic Integration. -- General
Exogenous shocks.
External debt.
External payment.
External shocks.
Foreign aid.
Foreign capital.
Global liquidity.
Government bonds.
Inflation rate.
International capital.
International capital market.
International capital markets.
International Economic Order.
International lending.
International Lending and Debt Problems.
Liquidity crises.
Liquidity crisis.
Loan disbursements.
Moral hazard.
Net capital.
Net capital outflow.
Net capital outflows.
Net foreign debt.
Private capital.
Private capital markets.
Private financial institutions.
Private investors.
Public sector debt.
Ratio of debt.
Ratio of debt service to exports.
Real effective exchange rate.
Risk aversion.
Short-term capital.
Short-Term Capital Movements.
Short-term debt.
Argentina.
Bangladesh.
Bolivia.
Brazil.
Ghana.
Pakistan.
Summary:
Could a high-access, quick-disbursing ""insurance facility"" in the IMF help to reduce the incidence of sharp interruptions in capital flows (""sudden stops"")? We contribute to the debate around this question by analyzing the impact of conventional IMF-supported programs on the incidence of sudden stops. Correcting for the non-random assignment of programs, we find that sudden stops are fewer and generally less severe when an IMF arrangement exists and that this form of ""insurance"" works best for countries with strong fundamentals. In contrast there is no evidence that a Fund-supported program attenuates the output effects of capital account reversals if these nonetheless occur.
Notes:
Description based on print version record.
Contributor:
Eichengreen, Barry J.
Gupta, Poonam.
Mody, Ashoka.
Other format:
Print Version:
ISBN:
1451863616:
9781451863611
ISSN:
1018-5941
Publisher Number:
10.5089/9781451863611.001
Access Restriction:
Restricted for use by site license.
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