Description

This paper examines the various roles of IMF financing in crisis prevention. Emerging market economies that experienced financial crises in the past have been subject to enormous economic and social costs, highlighting the importance of crisis prevention. While the main defense against a crisis lies in a country’s own policies and institutional framework, the IMF can contribute to these efforts through its surveillance activities, provision of technical assistance, and promotion of standards and codes. But the IMF may be able to contribute to crisis prevention more directly by providing contingent financial support. This paper explores the theoretical basis of, and empirical evidence for, possible “crisis prevention programs.”

People who purchased this product also purchased

Exchange Rate Assessments: CGER Methodologies ($30.00)

Exchange Rate Assessments: CGER Methodologies ($30.00)

Reaping the Benefits of Financial Globalization ($33.00)

Taxonomy

Balance of payments , Capital account , Crisis prevention , Financial crisis , Fund-supported Adjustment programs , IMF governance and operations , International financial system , Operations , Programs

More publications in this series: Occasional Papers

More publications by: Juan Zalduendo ; Jun Il Kim ; Bikas Joshi ; Atish R. Ghosh ; Uma Ramakrishnan ; Alun H. Thomas