Estimating Demand for IMF Financing by Low-Income Countries in Response to Shocks / / Yasemin Bal Gunduz

• Record Nr.: UNINA9910788222403321
• Autore: Bal Gunduz Yasemin
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2009
• ISBN: 1-4623-2347-2; 9786612844560; 1-282-84456-3; 1-4527-2180-7; 1-4518-7408-1
• Descrizione fisica: 55 p. : ill
• Collana: IMF Working Papers
• Soggetti: Financial crises; Exports and Imports; Macroeconomics; Current Account Adjustment; Short-term Capital Movements; Commodity Markets; Empirical Studies of Trade; Energy: Demand and Supply; Prices; International economics; Balance of payments need; Commodity prices; Current account balance; Terms of trade; Oil prices; Balance of payments; Economic policy; nternational cooperation; Developing countries; United States
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references.
• Sommario/riassunto: This paper estimates factors affecting demand for Fund financing by Low-Income Countries (LICs) in response to policy and exogenous shocks. Various economic variables including reserve coverage, current account balance to GDP, real GDP growth, macroeconomic stability, and terms of trade shocks are found to be significant determinants of Fund financing. Moreover, global conditions, including changes in real oil and non-oil commodity prices and world trade, are also significant. Therefore, the demand for Fund financing by LICs is likely to be cyclical in response to common shocks with its intensity depending on the severity and persistence of adverse shocks.