Stabilization Programs and External Enforcement : Experience From the 1920's /
Credibility and financing problems are important reasons why countries may seek to involve external institutions in the design and implementation of stabilization programs. In particular, governments may rely on external institutions to 'enforce' programs that would otherwise lack credibil...
| 第一著者: | |
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| フォーマット: | 雑誌 |
| 言語: | English |
| 出版事項: |
Washington, D.C. :
International Monetary Fund,
1993.
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| シリーズ: | IMF Working Papers; Working Paper ;
No. 1993/003 |
| オンライン･アクセス: | Full text available on IMF |
| 要約: | Credibility and financing problems are important reasons why countries may seek to involve external institutions in the design and implementation of stabilization programs. In particular, governments may rely on external institutions to 'enforce' programs that would otherwise lack credibility. This paper analyzes six European currency stabilizations sponsored by the League of Nations in the 1920s. It emphasizes the means by which the League provided a 'commitment technology' and enforced compliance, thereby helping to ensure successful stabilizations. Empirical evidence indicates that countries with greater credibility problems relied more heavily on external enforcement to stabilize their currencies. |
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| 記述事項: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| 物理的記述: | 1 online resource (48 pages) |
| フォーマット: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| アクセス: | Electronic access restricted to authorized BRAC University faculty, staff and students |