TY  - BOOK
AU  - Eichengreen,Barry J.
AU  - Gupta,Poonam
AU  - Mody,Ashoka
TI  - Sudden Stops and IMF-Supported Programs
T2  - IMF Working Papers; Working Paper
SN  - 1451863616 :
SN  - 1018-5941
PY  - 2006///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Capital Inflows
KW  - imf
KW  - Currency Crises
KW  - Current Account Balance
KW  - Current Account
KW  - IMF-Supported Programs
KW  - Bangladesh
KW  - Bolivia
KW  - Brazil
KW  - Ghana
KW  - Pakistan
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 around 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
UR  - http://elibrary.imf.org/view/IMF001/06571-9781451863611/06571-9781451863611/06571-9781451863611.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451863611
ER  -