Showing 1 - 10 of 1,118
very few in the world, that refuses to abide by its treaty obligations to the IMF, which include allowing the Fund to … the IMF's Article IV Consultation process. Argentina is also the only G-20 member government that is in default on its …
Persistent link: https://www.econbiz.de/10008765919
This paper proposes a model to study how conditional lending and immediate liquidity provision affect incentives for fiscal adjustment in a country facing the risk of sovereign default. Conditional lending provides explicit incentives for fiscal adjustment but immediate liquidity provision is...
Persistent link: https://www.econbiz.de/10011109435
This paper empirically investigates the extent of investor moral hazard associated with IMF bailouts by analyzing the … responses of sovereign bond spreads to the changes in the perceived probability of IMF bailouts of countries undergoing … Russia in August 1998 that signaled a modification to IMF intervention policy. In contrast, we find evidence that investor …
Persistent link: https://www.econbiz.de/10005556610
The paper presents a detailed description of IMF and World Bank conditionality and tries to explain changes in this … World Bank conditionality as well as interruptions of IMF programs in the recipient countries. Compliance with World Bank … conditionality is lower in election years and pre- election years. Breakdowns of IMF programs are less likely in election years …
Persistent link: https://www.econbiz.de/10005556641
We analyse the effect of IMF and World Bank policies on the composite index of economic freedom by Gwartney et al … relationship between credits and programs of the IMF and economic freedom. …
Persistent link: https://www.econbiz.de/10005119479
Indeed, the specification of equilibrium in the world economy depends on the exchange rate regime and thus, the early contributions to the postwar literature on exchange rate economics are to a large extent concerened with the role of speculation in foreign exchange markets. However, the world...
Persistent link: https://www.econbiz.de/10005619306
The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past … three years. Relying upon survey data collected in 1998 and 1999, this paper explores the role of the IMF in Korea, as … perceived by its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However …
Persistent link: https://www.econbiz.de/10005407713
This paperwork is meant to treat some contemporary and stringent global problems, related to the almost new problematic of international monetary system and its crises, since the Bretton Woods system breakdown. In the last 3 decades, this subsystem of global economy becomes the most important...
Persistent link: https://www.econbiz.de/10005789936
sidelined in policy debates in the past few years. One reason for the IMF not having taken a more central role in addressing key … guidance to IMF member countries, exert peer pressure and give economic policy advice, is overwhelmed by its tasks and … highly diverse tasks of the IMF require different governance structures in order to be implemented effectively. We believe …
Persistent link: https://www.econbiz.de/10004980389
In this paper we analyze whether IMF conditionality is exclusively designed in line with observable economic indicators … letters of intent from 38 countries from 4/1997-2/2003 reveals that the number of conditions on an IMF loan depends on a … borrowing country’s voting pattern in the UN general assembly. Closer US allies receive IMF loans with fewer conditions …
Persistent link: https://www.econbiz.de/10005408202