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The paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channelled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the distribution of foreign resources...
Persistent link: https://www.econbiz.de/10010279348
Persistent link: https://www.econbiz.de/10013347735
(IMF or "the Fund") and with a special attention to the role that the Fund can play in facilitating orderly restructuring …
Persistent link: https://www.econbiz.de/10012617783
Following an analysis of the forces behind the global capital flows paradoxʺ observed in the era of advancing financial globalization, this paper sets out to investigate the opportunity costs of self-insurance through precautionary reserve holdings. We reject the idea of reserves as low-cost...
Persistent link: https://www.econbiz.de/10003807715
Financial assistance provided by the International Monetary Fund (IMF) is supposed to unlock other financing, acting as … neglect of the size of an IMF program. Applying a novel identification strategy to account for endogenous selection into … effect of IMF financial assistance is weakened - and potentially reversed - if the size of a program exceeds a certain level …
Persistent link: https://www.econbiz.de/10012836325
foundations such as IMF, World Bank, Unido, OECD and UNCTAD. For instance, we have to opportunity to explain, why in spite of its …
Persistent link: https://www.econbiz.de/10013095438
participation in IMF programs. The data contain 91 developing countries that received four types of IMF programs during the period … (years without any IMF program). The results suggest that the average number of years that countries spend without an IMF …
Persistent link: https://www.econbiz.de/10014055209
Using a sample of 110 developed and developing countries for the period 1990-2004, this paper analyzes the characteristics of systemic sudden stops (3S) in capital flows and the relevance of balance-sheet effects in the likelihood of their materialization. A small supply of tradable goods...
Persistent link: https://www.econbiz.de/10010278271
This paper has two aims. The first is to provide some explanation for the extraordinary collapse in cross-border bank lending to developing countries which has taken place since 1997. The second is to argue that it might be too simplistic to characterize banks’ behaviour in the past few years...
Persistent link: https://www.econbiz.de/10010279029
Recently, a dramatic accumulation in foreign exchange reserves has been widely observed in developing countries. This paper explores the possible long-run impacts of this trend on macroeconomic variables in developing countries. We analyze a simple open economy model where increased foreign...
Persistent link: https://www.econbiz.de/10010286085