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010   $a9786613829351
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100   $a20020129d2006      uf         0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 14$aThe Role of IMF Support in Crisis Prevention /$fUma Ramakrishnan, Juan Zalduendo
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (33 p.)
225 1 $aIMF Working Papers
300   $a"March 2006."
311   $a1-4518-6335-7 
320   $aIncludes bibliographical references.
327   $a""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""
330 3 $aThis paper examines the role of IMF-supported programs in crisis prevention; specifically, whether, conditional on an episode of intense market pressures, IMF financial support helps prevent a capital account crisis from developing and, if so, through what channels. In doing so, the paper distinguishes between the seal of approval inherent in IMF support and its financing, evaluates the interaction of IMF support with economic policies, and assesses whether IMF financing has a different impact on the likelihood of a crisis than other forms of liquidity. The main result is that IMF financing helps prevent crises through the liquidity provided (i.e., money matters). However, since the effect holds even after controlling for (gross) foreign exchange reserves, stronger policies and the seal of approval under an IMFsupported program must also play a role. Finally, the results suggest that IMF financing as a crisis prevention tool is most effective for an intermediate range of economic fundamentals.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/075
606   $aCapital market
606   $aFinancial crises
606   $aBalance of payments$2imf
606   $aCapital account crisis$2imf
606   $aCapital movements$2imf
606   $aCapital outflows$2imf
606   $aCrisis management$2imf
606   $aCrisis prevention$2imf
606   $aCurrency$2imf
606   $aCurrent Account Adjustment$2imf
606   $aEconomic & financial crises & disasters$2imf
606   $aExchange rate arrangements$2imf
606   $aExports and Imports$2imf
606   $aFinancial Institutions and Services: Government Policy and Regulation$2imf
606   $aFinancial Risk Management$2imf
606   $aForeign Exchange$2imf
606   $aForeign exchange$2imf
606   $aInternational economics$2imf
606   $aInternational Investment$2imf
606   $aLong-term Capital Movements$2imf
606   $aPrivate capital flows$2imf
606   $aShort-term Capital Movements$2imf
607   $aMexico$2imf
615  0$aCapital market.
615  0$aFinancial crises.
615  7$aBalance of payments
615  7$aCapital account crisis
615  7$aCapital movements
615  7$aCapital outflows
615  7$aCrisis management
615  7$aCrisis prevention
615  7$aCurrency
615  7$aCurrent Account Adjustment
615  7$aEconomic & financial crises & disasters
615  7$aExchange rate arrangements
615  7$aExports and Imports
615  7$aFinancial Institutions and Services: Government Policy and Regulation
615  7$aFinancial Risk Management
615  7$aForeign Exchange
615  7$aForeign exchange
615  7$aInternational economics
615  7$aInternational Investment
615  7$aLong-term Capital Movements
615  7$aPrivate capital flows
615  7$aShort-term Capital Movements
700   $aRamakrishnan$b Uma$01677577
701   $aZalduendo$b Juan$01610666
712 02$aInternational Monetary Fund.$bPolicy Development and Review Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910822933403321
996   $aThe Role of IMF Support in Crisis Prevention$94044583
997   $aUNINA