This paper explores empirically how the adoption of IMF programs affects sovereign risk over the medium term. We find … that IMF programs significantly increase the probability of subsequent sovereign defaults by approximately 1.5 to 2 … sovereign defaults and program participation simultaneously. Furthermore, IMF programs turn out to be especially detrimental to …

This paper provides an empirical evaluation of the Flexible Credit Line (FCL), the IMF's prime precautionary lending …

expectations of adverse effects of IMF programmes may deter countries from asking for an IMF programme when they need one, a form … of "IMF stigma". We explore the existence of IMF financial market stigma using monthly data by estimating how and to … affects subsequent IMF programme participation. Our results, derived with event history techniques and propensity score …

There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher … effects of IMF programmes may deter countries from asking for an IMF programme when they need one, a form of "IMF stigma". We … materialise and how past experience with adverse market reactions affects subsequent IMF programme participation. Our results …

Using empirical analysis, complemented with case studies, this paper studies under which circumstances IMF programs … the role of conditionality – as opposed to signalling and liquidity – as the strongest channel through which IMF catalyzes …

There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher … effects of IMF programmes may deter countries from asking for an IMF programme when they need one, a form of ‘IMF stigma'. We … materialise and how past experience with adverse market reactions affects subsequent IMF programme participation. Our results …

The paper provides a critical review of empirical studies on IMF induced moral hazard. Taken together, there is … are negatively influenced by the insurance. Their policies are more expansive leading to higher probabilities of IMF …

This paper presents a model to explain how IMF programmes can catalyse private capital flows following a financial … crisis, a concept that was at the heart of the IMF's strategy for dealing with capital account crises in the late 1990s. In … the model, the IMF lends funds below the prevailing market interest rate and it is this subsidy that induces the borrowing …

Sovereign default is the switching state between successful and unsuccessful Fund catalysis. We find the IMF to be … resuming lending, even when the IMF intervenes. As long as default is avoided, IMF programs help a country signal its … Fund catalysis, than the size of IMF lending …

This study focuses on identifying the main factors that influenced country-specific and aggregate demand for IMF …