04936oam 22011654 450 991097514890332120250426110923.0978661382935197814623992531462399258978145270474614527047409781283516907128351690X97814519087181451908717(CKB)3360000000443861(EBL)3014476(SSID)ssj0000939931(PQKBManifestationID)11553612(PQKBTitleCode)TC0000939931(PQKBWorkID)10947338(PQKB)10503551(OCoLC)694141150(IMF)WPIEE2006075(MiAaPQ)EBC3014476(IMF)WPIEA2006075WPIEA2006075(EXLCZ)99336000000044386120020129d2006 uf 0engurcn|||||||||txtccrThe Role of IMF Support in Crisis Prevention /Uma Ramakrishnan, Juan Zalduendo1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (33 p.)IMF Working Papers"March 2006."9781451863352 1451863357 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 crisesBalance of paymentsimfCapital account crisisimfCapital movementsimfCapital outflowsimfCrisis managementimfCrisis preventionimfCurrencyimfCurrent Account AdjustmentimfEconomic & financial crises & disastersimfExchange rate arrangementsimfExports and ImportsimfFinancial Institutions and Services: Government Policy and RegulationimfFinancial Risk ManagementimfForeign ExchangeimfForeign exchangeimfInternational economicsimfInternational InvestmentimfLong-term Capital MovementsimfPrivate capital flowsimfShort-term Capital MovementsimfMexicoimfCapital market.Financial crises.Balance of paymentsCapital account crisisCapital movementsCapital outflowsCrisis managementCrisis preventionCurrencyCurrent Account AdjustmentEconomic & financial crises & disastersExchange rate arrangementsExports and ImportsFinancial Institutions and Services: Government Policy and RegulationFinancial Risk ManagementForeign ExchangeForeign exchangeInternational economicsInternational InvestmentLong-term Capital MovementsPrivate capital flowsShort-term Capital MovementsRamakrishnan Uma1816453Zalduendo Juan1812964International Monetary Fund.Policy Development and Review Dept.DcWaIMFBOOK9910975148903321The Role of IMF Support in Crisis Prevention4372650UNINA