This paper analyzes the initial economic conditions before IMF financial arrangements are adopted. Evidence from 104 … IMF arrangements in 74 developing countries during 1973-91 indicates that there are important differences between the …

, holds regardless of whether the devaluation takes place in the context of an IMF program. Why are devaluations so costly …

Using a simple model of international lending, we show that as long as the IMF lends at an actuarially fair interest … borrowing costs in response to IMF crisis lending are efficient. Thus, under these assumptions, the IMF cannot cause moral … hazard, as argued by Michael Mussa (1999 and 2004). It follows that examining the effects of IMF lending on capital flows or …

Using a simple model of international lending, we show that as long as the IMF lends at an actuarially fair interest … borrowing costs in response to IMF crisis lending are efficient. Thus, under these assumptions, the IMF cannot cause moral … hazard, as argued by Michael Mussa (1999 and 2004). It follows that examining the effects of IMF lending on capital flows or …

Does macroeconomic data transparency-as signaled by subscription to the IMF's Special Data Dissemination Standard (SDDS …

engendered a financial crisis as well. That all four of the combatants sought and obtained IMF financial assistance was highly … unusual for the time and had a profound effect on the development of the IMF. This case study illustrates the complexities in … sterlingóand the IMF's response to itówere remarkably similar to financial crises in the 1990s. Copyright 2002, International …

Does macroeconomic data transparency-as signaled by subscription to the IMF's Special Data Dissemination Standard (SDDS …