The Role of IMF Support in Crisis Prevention / / Uma Ramakrishnan, Juan Zalduendo

• Autore: Ramakrishnan Uma
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Descrizione fisica: 1 online resource (33 p.)
• Soggetto topico: Capital market; Financial crises; Exports and Imports; Financial Risk Management; Foreign Exchange; Current Account Adjustment; Short-term Capital Movements; Financial Institutions and Services: Government Policy and Regulation; International Investment; Long-term Capital Movements; International economics; Economic & financial crises & disasters; Currency; Foreign exchange; Capital account crisis; Crisis prevention; Exchange rate arrangements; Private capital flows; Capital outflows; Balance of payments; Crisis management; Capital movements
• Soggetto geografico: Mexico
• Altri autori: ZalduendoJuan
• Note generali: "March 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""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""
• Sommario/riassunto: 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.
• Titolo autorizzato: The Role of IMF Support in Crisis Prevention
• ISBN: 1-4623-9925-8; 1-4527-0474-0; 1-283-51690-X; 9786613829351; 1-4519-0871-7
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788700203321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/075