Growing international financial integration has implied greater threat of contagion across borders, requiring quicker response to crises. However, financial—and trade—integration have been accompanied by the spread of democracy and political participation. Do more voices in the political...

The more severe a financial crisis, the greater has been the likelihood of its management under an IMFsupported program and shorter the time from crisis onset to program initiation. Political links to the United States have raised program likelihood but have prompted faster response mainly for...