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Memorable encounters? : own and neighbours' experience with IMF conditionality and IMF stigma

Andone, Irina; Scheubel, Beatrice - 2017

While the consequences and effectiveness of IMF conditionality have long been the focus of research, the possible negative impact of IMF conditionality on countries' willingness to ask for an IMF programme - often termed "IMF stigma" - has recently received attention particularly from policy...

Persistent link: https://www.econbiz.de/10011624193

Stigma? What Stigma? : a contribution to the debate on the effectiveness of IMF lending

Scheubel, Beatrice; Tafuro, Andrea; Vonessen, Benjamin - 2018

There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher refinancing costs for sovereigns and adverse movements in stock markets. This has led to concerns that an expectation of adverse effects of IMF programmes may deter countries...

Persistent link: https://www.econbiz.de/10011846238

Exorbitant privilege : a safe-asset view

Jiang, Zhengyang - 2024

I propose a model of the reserve currency paradigm that centers on liquidity demand for safe assets. In global recessions, the demand for U.S. safe assets increases and raises their convenience yields, giving rise to stronger dollar and countercyclical seigniorage revenues. The seigniorage...

Persistent link: https://www.econbiz.de/10015048365

The impact of Basel III on trade finance : the potential unintended consequences of the leverage ratio

Auboin, Marc; Blengini, Isabella - 2014

Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new Basel III rules. However, concerns have been expressed over the potential negative "unintended consequences" of the newly created leverage ratio for trade. This paper offers a...

Persistent link: https://www.econbiz.de/10010404596

The politics of IMF forecasts

Dreher, Axel (contributor); Marchesi, Silvia (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003620169

Buying votes and international organizations : the dirty work-hypothesis

Dreher, Axel; Lang, Valentin; Rosendorff, B. Peter; … - 2018

We show how major shareholders can exploit their power over international organizations to hide their foreign-policy interventions from domestic audiences. We argue that major powers exert influence bilaterally when domestic audiences view the intervention favorably. When domestic audiences are...

Persistent link: https://www.econbiz.de/10011927941

Why do trade finance gaps persist : does it matter for trade and development

Auboin, Marc; DiCaprio, Alisa - 2017

Trade finance shortfalls now appear regularly. Does this matter for trade expansion and economic development in developing countries? Global trade finance has resumed following the 2009 global financial crisis. However, the pattern of recovery has been uneven across countries and categories of...

Persistent link: https://www.econbiz.de/10011645906

The political economy of international organizations

Dreher, Axel; Lang, Valentin - 2016

We review the literature on the political economy of international organizations (IOs). Considering IOs as products of the preferences of various actors rather than monolithic entities we focus on national politicians, international bureaucrats, interest groups, and voters. By looking into the...

Persistent link: https://www.econbiz.de/10011536240

IMF surveillance and financial markets : a political economy analysis

Fratzscher, Marcel; Reynaud, Julien - 2010

The International Monetary Fund (IMF) is in the process of re-inventing itself with bilateral and multilateral surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power that member countries exert at the IMF. First, we...

Persistent link: https://www.econbiz.de/10003976542

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a … pattern Unbalanced Financial Globalization. We then simulate a counterfactual trajectory of the world economy where the RKO … capital allocation, a 2.8% lower world GDP, a 12% rise in the cross-country dispersion of GDP per capita, lower wages in …

Persistent link: https://www.econbiz.de/10014340224