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From Crisis to IMF-Supported Program; Does democracy impede the speed required by financial markets?
Mody, Ashoka; Saravia, Diego - International Monetary Fund (IMF) - 2008
agreement on an IMF-supported adjustment program. This span appears to have decreased over time. More precisely, we find that …
Persistent link: https://www.econbiz.de/10005605163
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On the Role and Eects of IMF Seniority
Saravia, Diego - Econometric Society - 2004
The paper presents a three period model that studies the eects of IMF loans on borrowers’ and lenders’ welfare … highlighting the fact that the IMF has both de jure and de facto seniority rights over private creditors. It is shown that an IMF … IMF intervention always makes the borrower country better off. The eects on non-senior lenders depend on the size of the …
Persistent link: https://www.econbiz.de/10005699628
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How would Capital Account Liberalisation Affect China's Capital Flows and the Renminbi Real Exchange Rates?
He, Dong; Cheung, Lillian; Zhang, Wenlang; Wu, Tommy - Hong Kong Institute for Monetary Research (HKIMR), … - 2012
In this paper we study the determinants of gross capital flows, project the size of China's international investment positions in 2020 and analyse the implications for the renminbi real exchange rates. We assume in this exercise that the renminbi will have largely achieved capital account...
Persistent link: https://www.econbiz.de/10010633212