Access Policy in Capital Account Crises

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498328415
Total Pages : 52 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Access Policy in Capital Account Crises by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Access Policy in Capital Account Crises written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2002-07-29 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s decisions to lend to member countries in amounts well above the access limits for Mexico (1995), and since then, have raised important questions about the role of the Fund in crisis resolution and the appropriate size of Fund access in capital account crises. This paper reviews past experience in exceptional access cases and considers strengthened conditions, procedures and safeguards for guiding decisions on Fund programs in these exceptional circumstances where Fund financing above normal access limits may be appropriate.

Access Policy in Capital Account Crises - Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498329896
Total Pages : 23 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Access Policy in Capital Account Crises - Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Access Policy in Capital Account Crises - Modifications to the Supplemental Reserve Facility and Follow-Up Issues Related to Exceptional Access Policy written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2003-01-14 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

IMF Staff Papers, Volume 49, No. 3

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Author :
Publisher : International Monetary Fund
ISBN 13 : 9781589061224
Total Pages : 260 pages
Book Rating : 4.0/5 (612 download)

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Book Synopsis IMF Staff Papers, Volume 49, No. 3 by : International Monetary Fund. Research Dept.

Download or read book IMF Staff Papers, Volume 49, No. 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2002-09-23 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during 1975–98. Cointegration analysis and error correction modeling are used to research two issues: (i) whether money demand stability is threatened by banking crises; and (ii) whether crises lead to structural breaks in the relation between monetary indicators and prices. Overall, no systematic evidence that banking crises cause money demand instability is found. The paper also analyzes inflation targeting in the context of the IMF-supported adjustment programs.

Ex Post Evaluations of Exceptional Access Arrangements—Revised Guidance Note

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498337821
Total Pages : 7 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Ex Post Evaluations of Exceptional Access Arrangements—Revised Guidance Note by : International Monetary Fund. Strategy, Policy, & Review Department

Download or read book Ex Post Evaluations of Exceptional Access Arrangements—Revised Guidance Note written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2010-03-18 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Executive Board has agreed that post-program monitoring (PPM), with formal involvement of the Board, could be useful in certain cases. Specifically, the Board has decided that when a member’s outstanding credit from the General Resources Account (GRA) of the Fund, or from the Fund as Trustee of the Poverty Reduction and Growth Trust (PRGT), or a combination thereof, exceeds a threshold of 200 percent of quota, and the member no longer has an arrangement or is not implementing a staff-monitored program with reports issued to the Board, there should be a presumption that the member will engage in PPM with the Fund of economic developments and policies after the expiration of the arrangement.

Capital Flows and Crises

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Author :
Publisher : MIT Press
ISBN 13 : 9780262550598
Total Pages : 396 pages
Book Rating : 4.5/5 (55 download)

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Book Synopsis Capital Flows and Crises by : Barry J. Eichengreen

Download or read book Capital Flows and Crises written by Barry J. Eichengreen and published by MIT Press. This book was released on 2004 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the connections between capital flows and financial crises as well as between capital flows and economic growth.

The Persistence of Capital Account Crises

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Author :
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451872507
Total Pages : 28 pages
Book Rating : 4.8/5 (725 download)

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Book Synopsis The Persistence of Capital Account Crises by : David Hofman

Download or read book The Persistence of Capital Account Crises written by David Hofman and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-05-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second, we provide a systematic examination of the determinants of crisis duration. Our econometric analysis suggests that initial conditions and the external environment plays a key role in determining crisis persistence. The policy response also matters, but cannot offset a record of poor past policies. Overall, the results underscore the critical importance of crisis prevention efforts.

Fund-Supported Programs and Crisis Prevention

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498332854
Total Pages : 33 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fund-Supported Programs and Crisis Prevention by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Fund-Supported Programs and Crisis Prevention written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2006-03-23 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the theoretical foundations for, and empirical evidence of, Fund support in preventing capital account crises. At a theoretical level, Fund supported programs can lower the crisis probability in two ways. First, such programs provide the member with additional external reserves, making a run for the exit by private creditors less likely. Second, such programs induce and signal better economic policies, though this needs to be supported by conditionality.

Global Imbalances, Financial Crises, and Central Bank Policies

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Author :
Publisher : Elsevier
ISBN 13 : 0128104031
Total Pages : 204 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Global Imbalances, Financial Crises, and Central Bank Policies by : Andreas Steiner

Download or read book Global Imbalances, Financial Crises, and Central Bank Policies written by Andreas Steiner and published by Elsevier. This book was released on 2016-07-25 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Imbalances, Financial Crises, and Central Bank Policies assesses the relationships between global imbalances, financial crises, and central bank policies, with a specific focus on their reserves. The book contains a strictly international perspective with an analysis based on empirical research that enables the reader to develop an analytical model that emphasizes interactions among individual central banks. With this innovative approach, the book develops a new method for defining an optimal demand for reserves. In addition, the book describes implications for financial reforms that might ultimately be more important than its empirical findings. Presents a systematic account of the relationship between the build-up of reserves and central bank policies Emphasizes a global view of currency reserves, which is usually ignored in analyses of their effect Includes datasets as well as all illustrations and figures in online ancillary materials

Review of Exceptional Access Policy

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498330398
Total Pages : 40 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Review of Exceptional Access Policy by : International Monetary Fund. Finance Dept.

Download or read book Review of Exceptional Access Policy written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2004-03-23 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498334946
Total Pages : 25 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy by : International Monetary Fund. Finance Dept.

Download or read book Review of Access Policy in the Credit Tranches and Under the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2008-02-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the Fund’s access policy under its main financing facilities in the General Resources Account (GRA) and under the Poverty Reduction and Growth Facility (PRGF). It responds to the Board’s request for a periodic review of the access policy, that is, the rules and practices that govern the amount of financing the Fund makes available to its members.

Adapting Precautionary Arrangements to Crisis Prevention

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498329411
Total Pages : 31 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Adapting Precautionary Arrangements to Crisis Prevention by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Adapting Precautionary Arrangements to Crisis Prevention written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2003-11-06 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Who Needs to Open the Capital Account

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Author :
Publisher : Peterson Institute
ISBN 13 : 0881326488
Total Pages : 147 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis Who Needs to Open the Capital Account by : Olivier Jeanne

Download or read book Who Needs to Open the Capital Account written by Olivier Jeanne and published by Peterson Institute. This book was released on 2012 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most countries emerged from the Second World War with capital accounts that were closed to the rest of the world. Since then, a process of capital account opening has occurred, with the result that all developed and many emerging-market countries now have capital accounts that are both de facto and de jure open, while many developing countries also have de facto openness. This study examines this in part by considering some of the first lessons from the current global financial crisis. This crisis may change the terms of the debate on capital account liberalization in a deeper and more lasting way than any of the crises of the past two decades because it may mark a reversal in the secular trend of financial liberalization at the core of the international financial system. The current crisis also raises new questions about the appropriate policy responses to boom-bust dynamics in domestic credit and in international credit flows. Intellectual consistency is needed between the domestic and international dimensions of financial regulation and the policies aimed at dealing with boom-bust dynamics in domestic and international credit.

Review of Access Policy in the Credit Tranches, the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy

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Author :
Publisher : International Monetary Fund
ISBN 13 : 149833170X
Total Pages : 25 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Review of Access Policy in the Credit Tranches, the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy by : International Monetary Fund. Legal Dept.

Download or read book Review of Access Policy in the Credit Tranches, the Extended Fund Facility and the Poverty Reduction and Growth Facility, and Exceptional Access Policy written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2005-03-14 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Section I of this paper contains a discussion of the purpose of access rules, and Section II examines the Fund’s liquidity position. Section III discusses the potential demand for Fund resources resulting from several possible shocks. Section IV considers recent trends in access decisions and evaluates how they have conformed to the principles underlying the access rules, and whether the Fund’s liquidity would be a constraint to providing similar access in the period ahead. Section V summarizes recent developments in exceptional access and discusses issues pertinent to policy in such cases. Section VI concludes with the list of staff recommendations and the issues for discussion. Draft decisions on access to GRA and PRGF resources are provided in Section VII.

Further Consideration of a New Liquidity Instrument for Market Access Countries - Design Issues

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498333788
Total Pages : 26 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Further Consideration of a New Liquidity Instrument for Market Access Countries - Design Issues by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Further Consideration of a New Liquidity Instrument for Market Access Countries - Design Issues written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2007-02-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on a specific set of issues -- qualification criteria, monitoring structure, access levels and terms, links to other Fund facilities, and links to the private sector. This paper is a complement and follow-up to an earlier paper, which itself considered the broader issues involved in creating a new instrument. The paper does not put forward a concrete proposal to Directors, but seeks to achieve a further convergence of views on these key issues.

Report on Access to Fund Resources During 2005

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Author :
Publisher : International Monetary Fund
ISBN 13 : 149833265X
Total Pages : 19 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Report on Access to Fund Resources During 2005 by : International Monetary Fund. Policy Development and Review Dept.

Download or read book Report on Access to Fund Resources During 2005 written by International Monetary Fund. Policy Development and Review Dept. and published by International Monetary Fund. This book was released on 2006-04-20 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of a relatively benign international environment with limited balance of payments needs, recourse to Fund resources has declined across several dimensions: fewer GRA arrangements; lower outstanding Fund resources; and a smaller average access under new PRGF arrangements.

Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498336310
Total Pages : 48 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options by : International Monetary Fund. Legal Dept.

Download or read book Review of Fund Facilities-Analytical Basis for Fund Lending and Reform Options written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2009-06-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of the ongoing review of Fund facilities, this paper examines the analytical basis for Fund lending in emerging market countries and provides a broad-ranging perspective for reforming the General Resources Account (GRA) lending toolkit. The Fund’s important lending role in crisis prevention and resolution is buttressed by its unique characteristics: (i) its ability as a nonatomistic lender to provide large-scale financing and reduce the likelihood of a run by private creditors; (ii) its ability as a cooperative institution with near-universal membership to agree conditionality with members, thus providing national authorities with a policy commitment tool to underpin confidence and catalyze private lending; and (iii) its de facto preferred creditor status, which allows it to provide crisis financing when private creditors may be reluctant to lend.

Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Seventh Issue

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475548656
Total Pages : 1088 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Seventh Issue by : International Monetary Fund. Legal Dept.

Download or read book Selected Decisions and Selected Documents of the International Monetary Fund, Thirty-Seventh Issue written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2014-12-23 with total page 1088 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Thirty-Seventh Issue of Selected Decisions and Selected Documents of the International Monetary Fund includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the International Monetary Fund, as well as selected documents to which frequent reference is made in the current activities of the Fund. In addition, it includes documents relating to the IMF, the United Nations, and other international organizations.