Keeping Capital Flowing : The Role of the IMF /

In this paper, we examine the IMF's role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF-supported program, although they may initially deterio...

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Hlavní autor: Bordo, Michael
Další autoři: Mody, Ashoka, Oomes, Nienke
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 2004.
Edice:IMF Working Papers; Working Paper ; No. 2004/197
On-line přístup:Full text available on IMF
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245 1 0 |a Keeping Capital Flowing :   |b The Role of the IMF /  |c Michael Bordo, Ashoka Mody, Nienke Oomes. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a In this paper, we examine the IMF's role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF-supported program, although they may initially deteriorate somewhat. Consistent with theoretical predictions and earlier empirical findings, we find that IMF-supported programs are most successful in improving capital flows to countries with bad, but not very bad fundamentals. In such countries, IMF-supported programs are also associated with improvements in the fundamentals themselves. 
538 |a Mode of access: Internet 
700 1 |a Mody, Ashoka. 
700 1 |a Oomes, Nienke. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2004/197 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2004/197/001.2004.issue-197-en.xml  |z IMF e-Library