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Since 1944, United States financing of the International Monetary Fund (IMF) has been appropriated and approved in Congress by roll-call vote. If voting to increase funds to the IMF is viewed as an observable signal of “support” for the IMF, these votes provide a historical record of...
Persistent link: https://www.econbiz.de/10014160739
In this paper we analyze whether IMF conditionality is exclusively designed in line with observable economic indicators or, alternatively, whether it is partly driven by its major shareholder, the US. A panel data analysis of 206 letters of intent from 38 countries over the period 4/1997-2/2003...
Persistent link: https://www.econbiz.de/10003289327
Persistent link: https://www.econbiz.de/10003825555
Starting with the framework of New Institutional Economics, this Comment examines the institutional arrangements of Chinese and U.S. governance, and then scrutinizes their respective policy responses to the financial collapse of 2008. The latent thesis is that, notwithstanding differences in...
Persistent link: https://www.econbiz.de/10013077492
Banks and bond investors have extended $9 trillion of US dollar credit to non-bank borrowers outside the United States. This has relevance for the discussion of global liquidity and global monetary policy transmission. This paper contributes to this policy discussion by analysing the links...
Persistent link: https://www.econbiz.de/10013029939
We analyze the trading of corporate insiders at leading financial institutions during the 2007 to 2009 financial crisis. We find strong evidence of a relation between political connections and informed trading during the period in which TARP funds were disbursed, and that the relation is most...
Persistent link: https://www.econbiz.de/10011547637
This paper reviews key policy messages and warnings about developments in the run-up to the global financial and economic crisis that began in mid-2007 which are contained in the main publications of the IMF, the OECD and the BIS and discuss issues relevant to strengthening their surveillance...
Persistent link: https://www.econbiz.de/10009003650
element of the IMF "conditionality" that attached to the bailout funding for each of the three countries - the requirement …
Persistent link: https://www.econbiz.de/10013125726
" When financial crises occur, economic theory maintains that national economies need a lender of last resort to … ILLR in Theory and Practice -- 1. AN INTERNATIONAL LLR: A BRIEF HISTORY OF A CONCEPT -- 1.1 The ILLR and the Hegemon -- 1 …. CONCLUSIONS -- CHAPTER 5 - Who's In, Who's Out, and Why? Selecting Whom to Bailout, 1983-1999 -- 1. U.S. FINANCIAL INTERESTS AND …
Persistent link: https://www.econbiz.de/10011570503
Persistent link: https://www.econbiz.de/10011912401