This paper examines the claim that the IMF catalyzes other capital flows. We identify a series of propositions based on recent theoretical work, use a treatment effects model to deal with selection bias, and examine whether the IMF catalyzes both aggregate private financial flows and important...

Throughout the 1990s multilateral interventions often deviated significantly from traditional peacekeeping in terms of mandate complexity, level of force, and the absence of consent and impartiality. This paper develops a formal model of biased intervention and specifies propositions regarding...

In the aftermath of the cold war, intrastate conflicts have emerged to challenge international stability and security. Although some authors have attempted to identify strategies for bringing these conflicts to a peaceful conclusion, these recommendations have not been formally grounded. In this...

Recent theoretical and empirical research suggests that under certain conditions IMF agreements induce additional inflows of finance from private international capital markets. This article provides new empirical evidence on this catalytic effect using a treatment effects model to correct for...

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...

<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...

The International Monetary Fund’s structure and rules are based on the quota system that was constructed when the Fund was set up in 1946. Quotas affect contributions and resource availability at the Fund, access to resources, the distribution of Special Drawing Rights, and voting rights....

Claims have been made that capital account crisis (CAC) countries are discernibly different in terms of the characteristics that lead them to borrow from the IMF. This paper tests these claims. It uses a conventional model of IMF lending to estimate the probability of countries having an IMF...

Increasing attention is being paid to IMF governance, and the structure and size of the Fund’s lending operations. However, less interest has been shown in the array of lending windows through which the IMF makes resources available. There have nonetheless been clear trends over recent years...