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Persistent link: https://www.econbiz.de/10014368644
The IMF attempts to stabilize private capital flows to emerging markets by providing public monitoring and emergency … when they are issued in conjunction with IMF-supported programs, as if the existence of a program conveyed positive … information to bondholders. The influence of IMF monitoring in bond markets is especially pronounced for countries vulnerable to …
Persistent link: https://www.econbiz.de/10005528172
The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global … surveillance efforts. This paper reviews how the IMF has responded to earlier regional initiatives, from the European Payments …
Persistent link: https://www.econbiz.de/10011278037
The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global … surveillance efforts. This paper reviews how the IMF has responded to earlier regional initiatives, from the European Payments …
Persistent link: https://www.econbiz.de/10011278132
The rise of regional monetary arrangements poses a challenge for the International Monetary Fund (IMF)'s global … surveillance efforts. This paper reviews how the IMF has responded to earlier regional initiatives, from the European Payments …
Persistent link: https://www.econbiz.de/10011278187
In this paper we analyse the recent efforts of the international financial institutions to limit the moral hazard created by their assistance to crisis countries. We question the wisdom of the case-by-case approach taken in Pakistan, Ecuador, Romania and Ukraine. We show that because default and...
Persistent link: https://www.econbiz.de/10005124195
We examine the implications for borrowing costs of including collective-action clauses in loan contracts. For a sample of some 2,000 international bonds, we compare the spreads on bonds subject to UK governing law, which typically include collective-action clauses, with spreads on bonds subject...
Persistent link: https://www.econbiz.de/10005067390
Persistent link: https://www.econbiz.de/10001332253
reconsidering the controversy over capital mobility. Even before the crisis struck, the IMF was on record as favoring the … turns to the IMF. Here too the questions are well known. Have Fund programs been too restrictive for countries whose …
Persistent link: https://www.econbiz.de/10011131794
Persistent link: https://www.econbiz.de/10011619928