04717oam 22010694 450 991078870020332120230828235838.01-4623-9925-81-4527-0474-01-283-51690-X97866138293511-4519-0871-7(CKB)3360000000443861(EBL)3014476(SSID)ssj0000939931(PQKBManifestationID)11553612(PQKBTitleCode)TC0000939931(PQKBWorkID)10947338(PQKB)10503551(OCoLC)694141150(MiAaPQ)EBC3014476(IMF)WPIEE2006075(EXLCZ)99336000000044386120020129d2006 uf 0engurcn|||||||||txtccrThe Role of IMF Support in Crisis Prevention /Uma Ramakrishnan, Juan ZalduendoWashington, D.C. :International Monetary Fund,2006.1 online resource (33 p.)IMF Working Papers"March 2006."1-4518-6335-7 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. IDENTIFYING CAPITAL ACCOUNT CRISES EPISODES""; ""IV. ESTIMATION AND RESULTS""; ""V. IMF SUPPORT AND CRISIS PREVENTION""; ""VI. CONCLUDING REMARKS""; ""References""This paper examines the role of IMF-supported programs in crisis prevention; specifically, whether, conditional on an episode of intense market pressures, IMF financial support helps prevent a capital account crisis from developing and, if so, through what channels. In doing so, the paper distinguishes between the seal of approval inherent in IMF support and its financing, evaluates the interaction of IMF support with economic policies, and assesses whether IMF financing has a different impact on the likelihood of a crisis than other forms of liquidity. The main result is that IMF financing helps prevent crises through the liquidity provided (i.e., money matters). However, since the effect holds even after controlling for (gross) foreign exchange reserves, stronger policies and the seal of approval under an IMFsupported program must also play a role. Finally, the results suggest that IMF financing as a crisis prevention tool is most effective for an intermediate range of economic fundamentals.IMF Working Papers; Working Paper ;No. 2006/075Capital marketFinancial crisesExports and ImportsimfFinancial Risk ManagementimfForeign ExchangeimfCurrent Account AdjustmentimfShort-term Capital MovementsimfFinancial Institutions and Services: Government Policy and RegulationimfInternational InvestmentimfLong-term Capital MovementsimfInternational economicsimfEconomic & financial crises & disastersimfCurrencyimfForeign exchangeimfCapital account crisisimfCrisis preventionimfExchange rate arrangementsimfPrivate capital flowsimfCapital outflowsimfBalance of paymentsimfCrisis managementimfCapital movementsimfMexicoimfCapital market.Financial crises.Exports and ImportsFinancial Risk ManagementForeign ExchangeCurrent Account AdjustmentShort-term Capital MovementsFinancial Institutions and Services: Government Policy and RegulationInternational InvestmentLong-term Capital MovementsInternational economicsEconomic & financial crises & disastersCurrencyForeign exchangeCapital account crisisCrisis preventionExchange rate arrangementsPrivate capital flowsCapital outflowsBalance of paymentsCrisis managementCapital movementsRamakrishnan Uma1464147Zalduendo Juan1464148International Monetary Fund.Policy Development and Review Dept.DcWaIMFBOOK9910788700203321The Role of IMF Support in Crisis Prevention3673710UNINA