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Kim, Se-Jik - International Monetary Fund (IMF) - 2004

information asymmetry by not rescuing the first-hit country. At the same time, it limits crisis contagion by rescuing countries in …

Persistent link: https://www.econbiz.de/10005599359

External Debt Sustainability in HIPC Completion Point Countries: An Update

Yang, Jie; Nyberg, Dan - International Monetary Fund (IMF) - 2009

Despite substantial debt relief to HIPC Initiative completion point countries, long-term debt sustainability remains a challenge. This paper examines a number of structural factors affecting external debt sustainability. It shows that in HIPC completion point countries (i) the export base...

Persistent link: https://www.econbiz.de/10008528704

Fiscal Sustainability in African HIPC Countries; A Policy Dilemma?

Fedelino, Annalisa; Kudina, Alina - International Monetary Fund (IMF) - 2003

This paper looks at the link between fiscal policy and debt sustainability in a number of African countries participating in the Heavily Indebted Poor Countries (HIPC) Initiative. The paper finds that, on the basis of current fiscal policies, debt levels will remain unsustainable even after...

Persistent link: https://www.econbiz.de/10005604842

Current Account Deficits, External Liabilities and Economic Policy

Pitchford, J. D. - International Monetary Fund (IMF) - 1992

This paper assesses the policy significance of foreign liabilities and the current account deficits that give rise to them. Current account imbalances are shown to have some capacity to indicate difficulties elsewhere in the economy, but are imperfect indicators and subject to potential...

Persistent link: https://www.econbiz.de/10005605003

External Debt Sustainability in HIPC Completion Point Countries

Sun, Yan - International Monetary Fund (IMF) - 2004

This paper examines a number of structural factors affecting the external debt sustainability of HIPC completion point countries. It shows that (i) while comparing favorably with other lowincome countries, the policy and institutional frameworks of completion point countries in general are still...

Persistent link: https://www.econbiz.de/10005605135

A Simple Model of An International Lender of Last Resort

Huang, Haizhou; Goodhart, C. A. E. - International Monetary Fund (IMF) - 2000

liquidity, but with potential costs of international financial contagion. An ILOLR can play a useful role in providing … international liquidity and reducing international contagion. …

Persistent link: https://www.econbiz.de/10005248186

Predicting Sovereign Debt Crises

Schimmelpfennig, Axel; Roubini, Nouriel; Manasse, Paolo - International Monetary Fund (IMF) - 2003

We develop an early-warning model of sovereign debt crises. A country is defined to be in a debt crisis if it is classified as being in default by Standard & Poor's, or if it has access to nonconcessional IMF financing in excess of 100 percent of quota. By means of logit and binary recursive...

Persistent link: https://www.econbiz.de/10005248202

Contagion, Monsoons, and Domestic Turmoil in Indonesia; A Case Study in the Asian Currency Crisis

Saxena, Sweta Chaman; Cerra, Valerie - International Monetary Fund (IMF) - 2000

shocks (“monsoons”), or contagion from neighboring countries. Markov-switching models attribute speculative pressure on … Indonesia’s currency to domestic political and financial factors and contagion from speculative pressures in Thailand and Korea … probabilities improves the conditional probabilities of crisis in Indonesia. There is also evidence of contagion in the stock market. …

Persistent link: https://www.econbiz.de/10005248271

Currency Crisis and Contagion; Evidence From Exchange Rates and Sectoral Stock Indices of the Philippines and Thailand

Nagayasu, Jun - International Monetary Fund (IMF) - 2000

This paper analyzes empirically the recent Asian financial crisis using high frequency data of exchange rates and stock indices of the Philippines and Thailand. Utilizing standard time-series techniques, this study confirms that there is evidence that developments in some sectoral...

Persistent link: https://www.econbiz.de/10005263754

Managing Confidence in Emerging Market Bank Runs

Mody, Ashoka; Kim, Se-Jik - International Monetary Fund (IMF) - 2004

distressed banks create contagion. …

Persistent link: https://www.econbiz.de/10005263784

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