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Sudden Stops and IMF-Supported Programs / Barry Eichengreen, Poonam Gupta, Ashoka Mody.
- Format:
- Book
- Government document
- Author/Creator:
- Eichengreen, Barry J.
- Series:
- IMF Working Papers; Working Paper ; No. 2006/101
- IMF Working Papers
- Language:
- English
- Subjects (All):
- International Monetary Fund.
- Capital movements--Econometric models.
- Capital movements.
- Physical Description:
- 1 online resource (53 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2006.
- Language Note:
- English
- Summary:
- Could a high-access, quick-disbursing "insurance facility" in the IMF help to reduce the incidence of sharp interruptions in capital flows ("sudden stops")? We contribute to the debate around this question by analyzing the impact of conventional IMF-supported programs on the incidence of sudden stops. Correcting for the non-random assignment of programs, we find that sudden stops are fewer and generally less severe when an IMF arrangement exists and that this form of "insurance" works best for countries with strong fundamentals. In contrast there is no evidence that a Fund-supported program attenuates the output effects of capital account reversals if these nonetheless occur.
- Contents:
- ""Contents""; ""I. INTRODUCTION""; ""II. SUDDEN STOPS AND MULTILATERAL INSURANCE""; ""III. CAPITAL FLOWS AND SUDDEN STOPS""; ""IV. IMF-SUPPORTED PROGRAMS""; ""V. MULTIVARIATE ANALYSIS""; ""VI. IMF-SUPPORTED PROGRAMS AND SUDDEN STOPS""; ""VII. EXTENSIONS""; ""VIII. CONCLUSIONS AND IMPLICATIONS""; ""Appendix Table A1. Countries in the Sample and Sudden Stop Dates Country Year""; ""Appendix Table A2. Determinants of Sudden Stops: Sensitivity to Sample Composition""; ""Appendix II: Sources of Data and Construction of Variables""; ""REFERENCES""
- Notes:
- "May 2006".
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613820808
- 9781462307432
- 1462307434
- 9781452723914
- 1452723915
- 9781282413764
- 1282413767
- 9781451908954
- 1451908954
- OCLC:
- 694141132
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