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A Model of the Imf As a Coinsurance Arrangement
Chami, Ralph; Shim, Ilhyock; Sharma, Sunil - International Monetary Fund (IMF) - 2004
of the coinsurance arrangement is examined under different loan contracts offered by the IMF. The analysis suggests that …, if the IMF’s objective is to safeguard its resources and be concerned about the welfare of the borrower, an ex ante loan …
Persistent link: https://www.econbiz.de/10005264158
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Imf Drawing Programs; Participation Determinants and Forecasting
Cerutti, Eugenio - International Monetary Fund (IMF) - 2007
This paper studies the factors that have influenced countries' participation in IMF drawing programs. IMF drawing …-track, it provides a closer link to the factors that have influenced the evolution of IMF credit outstanding. The analysis uses … determinants of countries' participation in IMF drawing programs. The importance of the global factor is not uniform during the …
Persistent link: https://www.econbiz.de/10005248203
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Does the World Need a Universal Financial Institution?
Boughton, James M. - International Monetary Fund (IMF) - 2005
All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its...
Persistent link: https://www.econbiz.de/10005248315
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Sovereign Insurance and Program Design; What is Optimal for the Sovereign?
Messmacher, Miguel - International Monetary Fund (IMF) - 2006
The design of the optimal sovereign insurance contract is analyzed when: the sovereign chooses the contract; effort is not contractible; shocks are of uncertain magnitude; the sovereign can save; and the sovereign can default. Under these conditions: i) an ex ante premium leads to higher coverage;...
Persistent link: https://www.econbiz.de/10005263743
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From Crisis to Recovery in Korea; Strategy, Achievements, and Lessons
Kang, Kenneth; Liang, Hong; Ma, Henry; Richards, Anthony J. - International Monetary Fund (IMF) - 2001
This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant...
Persistent link: https://www.econbiz.de/10005825786
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Vested Interests in a Positive Theory of IFI Conditionality
Mourmouras, Alex; Mayer, Wolfgang - International Monetary Fund (IMF) - 2002
Understanding of the domestic political environment is key to building broad country ownership and the successful implementation of reform programs supported by international financial institutions (IFIs). But recipient countries are not unitary actors: policymakers are influenced by special...
Persistent link: https://www.econbiz.de/10005825788
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Efficiency and Legitimacy; Trade-Offs in IMF Governance
Cottarelli, Carlo - International Monetary Fund (IMF) - 2005
Designing appropriate governance structures for an international financial institution such as the IMF is difficult …
Persistent link: https://www.econbiz.de/10005825916
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Statistical Legislation; Toward a More General Framework
Khawaja, Sarmad; Morrison, Thomas K. - International Monetary Fund (IMF) - 2002
The paper outlines a general framework for statistical legislation. The implications of statistical legislation for the whole statistical system, as well as for centralized versus decentralized statistical systems, are addressed. The general framework is spelled out by identifying "essential"...
Persistent link: https://www.econbiz.de/10005826011
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International Financial Contagion and the Fund; A Theoretical Framework
Clark, Peter B.; Huang, Haizhou - International Monetary Fund (IMF) - 2001
contagion through its lending with conditionality. We characterize the IMF's optimal lending decision in mitigating the loss in … a lower IMF rate. Highly indebted countries hit by large negative shocks to output will default. The resulting reduction … further rounds of defaults. In this environment the IMF can limit default and internalize the externality generated by …
Persistent link: https://www.econbiz.de/10005826144
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Is Policy Ownership An Operational Concept?
Boughton, James M.; Mourmouras, Alex - International Monetary Fund (IMF) - 2002
IMF lending is generally conditional on specified policies and outcomes. These conditions usually are negotiated …
Persistent link: https://www.econbiz.de/10005826172