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02214cas a2200241 a 4500 |
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AALejournalIMF020208 |
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|c 5.00 USD
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|z 9781498340168
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|a 2663-3493
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Review of Facilities for Low-Income Countries :
|b Supplement 1.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (37 pages)
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|a Policy Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This supplement aims to assess the economic impact of the Fund's support through its facilities for low-income countries (LICs). It relies on two complementary econometric analyses: the first investigates the longer-term impact of Fund engagement-primarily through successive medium-term programs under the Extended Credit Facility (ECF) and its predecessors (and more recently the Policy Support Instrument (PSI))-on economic growth and a range of other indicators and socio-economic outcomes; the second focuses on the role of IMF shock-related financing-through augmentations of ECF arrangements and short-term and emergency financing instruments-on short-term macroeconomic performance. The empirical results shed some light on two channels through which different Fund facilities may have helped LICs respond to the global financial crisis-(i) by supporting a gradual buildup of macroeconomic buffers in the decades prior to the crisis and (ii) by providing liquidity support at the height of the crisis. The combination of strong pre-crisis buffers and crisis financing allowed LICs to pursue counter-cyclical policy responses that preserved spending and facilitated a rapid recovery.
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|a Mode of access: Internet
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|a Policy Papers; Policy Paper ;
|v No. 2012/059
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/007/2012/059/007.2012.issue-059-en.xml
|z IMF e-Library
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