How Does the Global Economic Environment Influence the Demand for IMF Resources? / Selim Elekdag.

Format:

Book

Government document

Author/Creator:

Elekdag, Selim.

Series:

IMF Working Papers; Working Paper ; No. 2006/239

IMF Working Papers

Language:

English

Subjects (All):

Loans, Foreign.

Economic assistance.

Physical Description:

1 online resource (35 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

The main objective of this paper is to quantify the relationship between the global economic environment and the number of Stand-By Arrangements (SBAs). The results suggest that oil prices, world interest rates, and the global business cycle are the most influential indicators that affect the number of SBAs being requested. In addition, the empirical model seems to have reasonable accuracy when predicting SBAs. Furthermore, when oil prices, interest rates, and the global business cycle are adversely shocked by one standard deviation, the conditional probability of a SBA nearly doubles, implying an increase from about six to 12 SBAs. More critically, the model suggests that even a steady deterioration of the global economic climate would imply increasingly harsher conditions for developing and emerging market countries which may in turn significantly increase the demand for IMF resources.

Contents:

""Contents""; ""I. INTRODUCTION""; ""II. IMF ARRANGEMENTS FROM 1970 TO 2004""; ""III. INDICATORS OF THE GLOBAL ECONOMIC ENVIRONMENT""; ""IV. METHODOLOGY""; ""V. EMPIRICAL RESULTS""; ""VI. ROBUSTNESS""; ""VII. PREDICTING ACCESS LEVELS""; ""VIII. CONCLUDING REMARKS""; ""APPENDIX I. BACKGROUND ON IMF ARRANGEMENTS""; ""REFERENCES""

Notes:

"October 2006".

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613829986

9781462309436

1462309437

9781452743073

145274307X

9781283517539

1283517531

9781451909524

1451909527

OCLC:

698585591