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Precautionary demand for foreign assets in sudden stop economies : an assessment of the new merchantilism

Bora Durda, Ceyhun; Mendoza, Enrique G.; Terrones, Marco E. - 2007

Persistent link: https://www.econbiz.de/10003522377

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Mendoza, Enrique G. - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in … assets via business cycle volatility, financial globalization, and endogenous Sudden Stops. Our results show that financial … globalization and Sudden Stop risk are plausible explanations of the surge in reserves but cyclical volatility, which has declined …

Persistent link: https://www.econbiz.de/10014400221

Keeping capital flowing: the role of the IMF

Bordo, Michael D.; Mody, Ashoka; Oomes, Nienke - 2004

Persistent link: https://www.econbiz.de/10002506220

Keeping Capital Flowing : The Role of the IMF

Bordo, Michael D. - 2004

In this paper, we examine the IMF''s role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF-supported program, although they may initially...