Sudden Stops and IMF-Supported Programs by Barry Eichengreen, Poonam Gupta, Ashoka Mody Export

@article{citeulike:779120, abstract = {Could a high-access, quick-disbursing ” insurance facility” in the IMF help to reduce the incidence of sharp interruptions in capital flows ( ” sudden stops”)? We contribute to the debate on this question by analyzing the impact of conventional IMF-supported programs on the incidence of sudden stops. Correcting for the non-random assignment of programs, we find that sudden stops are fewer and generally less severe when an IMF arrangement exists and that this form of ” insurance” works best for countries with strong fundamentals. In contrast there is no evidence that a Fund-supported program attenuates the output effects of capital account reversals if these nonetheless occur.}, author = {Eichengreen, Barry J. and Gupta, Poonam and Mody, Ashoka}, citeulike-article-id = {779120}, citeulike-linkout-0 = {http://papers.ssrn.com/sol3/papers.cfm?abstract_id=902587}, journal = {NBER Working Paper No. W12235}, keywords = {imf, stops}, posted-at = {2006-07-29 08:07:18}, priority = {3}, title = {Sudden Stops and IMF-Supported Programs by Barry Eichengreen, Poonam Gupta, Ashoka Mody}, url = {http://papers.ssrn.com/sol3/papers.cfm?abstract_id=902587} }

TY - JOUR ID - citeulike:779120 L3 - citeulike-article-id:779120 N2 - Could a high-access, quick-disbursing “insurance facility” in the IMF help to reduce the incidence of sharp interruptions in capital flows (“sudden stops”)? We contribute to the debate on this question by analyzing the impact of conventional IMF-supported programs on the incidence of sudden stops. Correcting for the non-random assignment of programs, we find that sudden stops are fewer and generally less severe when an IMF arrangement exists and that this form of “insurance” works best for countries with strong fundamentals. In contrast there is no evidence that a Fund-supported program attenuates the output effects of capital account reversals if these nonetheless occur. JF - NBER Working Paper No. W12235 TI - Sudden Stops and IMF-Supported Programs by Barry Eichengreen, Poonam Gupta, Ashoka Mody KW - imf KW - stops AU - Eichengreen, Barry AU - Gupta, Poonam AU - Mody, Ashoka UR - http://papers.ssrn.com/sol3/papers.cfm?abstract_id=902587 ER -