In a 2005 article in this journal, Genberg poses the question of whether countries with IMF programs have “privileged access” to international capital markets. In attempting to answer this question, he cautions about reading too much into some of the recent literature. In this paper, we...

In seeking to understand IMF lending early large sample econometric studies tended to focus on economic factors. Political and institutional influences were often deemed to be reflected in the frequently large residual. At the same time increasing anecdotal evidence was being amassed to suggest...

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> Having had excess lending capacity at the beginning of 2008, by the end of the year International Monetary Fund (IMF) lending had increased and, in anticipation of a further increase in the demand for Fund assistance, arguments were being put forward for a substantial increase in IMF...

From being widely seen in early 2008 as an institution in decline and irrelevant to many of the problems then facing the world economy, the International Monetary Fund (IMF) has more recently been presented as an international financial institution that is of essential importance in the...

A large and growing academic literature seeks to analyse the key aspects of the International Monetary Fund’s operations from both theoretical and empirical perspectives. This two-volume set draws together what are generally acknowledged to be the most important contributions. In the main it...