Economic Determinants of Fund Financial Arrangements /

This paper analyses empirically the economic factors that lead to approval of Fund financial arrangements. We account for both the economic variables that induce a country to seek an arrangement with the Fund ("demand-side" factors) and the macroeconomic policy commitments that the Fund co...

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Detalles Bibliográficos
Autor Principal: Santaella, Julio
Outros autores: Knight, Malcolm
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 1994.
Series:IMF Working Papers; Working Paper ; No. 1994/036
Acceso en liña:Full text available on IMF
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245 1 0 |a Economic Determinants of Fund Financial Arrangements /  |c Julio Santaella, Malcolm Knight. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1994. 
300 |a 1 online resource (48 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
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 This paper analyses empirically the economic factors that lead to approval of Fund financial arrangements. We account for both the economic variables that induce a country to seek an arrangement with the Fund ("demand-side" factors) and the macroeconomic policy commitments that the Fund considers when deciding whether to approve it ("supply-side" factors). Using a pooled sample of annual observations for 91 developing countries over 1973-1991, we obtain maximum likelihood estimates of bivariate and univariate probit equations to determine the probability of approval of a financial arrangement for a given country in a given year. A number of our chosen demand-side and supply-side variables are statistically significant determinants of the approval of a Fund arrangement, and the overall explanatory power of the equations is high. 
538 |a Mode of access: Internet 
700 1 |a Knight, Malcolm. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1994/036 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1994/036/001.1994.issue-036-en.xml  |z IMF e-Library