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China as an international lender of last resort

Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; … - 2023 - First draft: March 2023

This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. We build the first comprehensive dataset on China’s overseas bailouts between 2000 and 2021 and provide new insights into China’s growing role in the global financial...

Persistent link: https://www.econbiz.de/10014247738

The World Bank as an International Financial Institution

Shams, Rasul - 2004

The World Bank is a prestigious and large international financial institution. Since its foundation it has widened the … scope and the size of its activities. One interpretation of what the World Bank is doing is the provision of public goods … more and more the functions of a world government in the making. An alternative interpretation would look at the World Bank …

Persistent link: https://www.econbiz.de/10014069851

The Global Debt Restructuring Architecture Debate and a Proposal for an Environmental Sovereign Debt Restructuring Mechanism (E-SDRM)

Savvopoulou, Ersi Iliana - 2023

This paper provides an overview of the ongoing debate on the international Sovereign Debt Restructuring Mechanism (SDRM) architecture by highlighting two key aspects, the contractual and the statutory approach, while also alluding to alternatives that have been set forth, such as arbitration,...

Persistent link: https://www.econbiz.de/10014356355

Essays in international macroeconomics

Scholl, Almuth - 2006

Persistent link: https://www.econbiz.de/10003315521

IMF Credit : how important are political factors? ; a robustness analysis

Sturm, Jan-Egbert; Berger, Helge; Haan, Jakob de - 2002

We test weather, in addition to economic conditions, IMF credit is influenced by political factors. On the basis of a panel model for 128 countries over the period 1972-1998, we find that dept service scaled to exports, international reserve holdings scaled to imports and economic growth, as...

Persistent link: https://www.econbiz.de/10001664920

A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

Ahokpossi, Calixte - 2014

This paper uses the propensity matching score approach to assess the impact of the IMF's debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The paper finds that countries under the DLP borrow significantly higher amounts of...

Persistent link: https://www.econbiz.de/10013045262

IMF's assistance : devil's kiss or guardian angel?

Brandes, Julia (contributor); Schüle, Tobias (contributor) - 2007

This paper contributes to the debate on the efficacy of IMF's catalytic finance in preventing financial crises. Extending Morris and Shin (2006), we consider that the IMF's intervention policy usually exerts a signaling effect on private creditors and that several interventions in sequence may...

Persistent link: https://www.econbiz.de/10003636488

Does the IMF help or hurt? : the effect of IMF programs on the likelihood and outcome of currency crises

Dreher, Axel (contributor); Walter, Stefanie (contributor) - 2008

Using panel data for 68 countries over the period 1975-2002 this paper examines how IMF programs, disbursed loans, and compliance with conditionality affect the risk of currency crises and the outcome of such crises. Specifically, we investigate whether countries with previous IMF intervention...

Persistent link: https://www.econbiz.de/10003764208

Read my lips : the role of information transmission in multilateral reform design

Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009

We focus on the role that the transmission of information between a multilateral (e.g., the IMF) and a country has for optimal (conditional) reform design. The main result is that the informational advantage of the country must be strictly greater than the advantage of the multilateral in order...

Persistent link: https://www.econbiz.de/10003850746

Does membership on the UN security council influence IMF decisions? : evidence from panel data

Dreher, Axel (contributor); Sturm, Jan-Egbert (contributor); … - 2006

We investigate whether temporary members of the UN Security Council receive favorable treatment from the IMF, using panel data for 191 countries over the period 1951 to 2004. Our results indicate a robust positive relationship between temporary UN Security Council membership and participation in...

Persistent link: https://www.econbiz.de/10003387345