Papi, Luca; Presbitero, Andrea Filippo; Zazzaro, Alberto - Money and Finance Research group (Mo.Fi.R.) - 2013
In this paper we look at the effect of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1965-2010. The endogeneity of the Fund intervention is addressed by adopting an instrumental variable (IV) strategy, in which the...