Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

In this paper, we examine the IMF's role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF-supported program, although they may initially deteriorate somewhat. Consistent with theoretical predictions and earlier empirical findings, we find that IMF-supported programs are most successful in improving capital flows to countries with bad, but not very bad fundamentals. In such countries, IMF-supported programs are also associated with improvements in the fundamentals themselves.

Economic development. --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- International Monetary Fund. --- Internationaal monetair fonds --- International monetary fund --- Exports and Imports --- Finance: General --- International Investment --- Long-term Capital Movements --- International Monetary Arrangements and Institutions --- General Financial Markets: General (includes Measurement and Data) --- Current Account Adjustment --- Short-term Capital Movements --- International economics --- Finance --- Capital flows --- International capital markets --- Emerging and frontier financial markets --- Current account --- Current account deficits --- Capital movements --- Balance of payments --- Capital market --- Financial services industry

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Zonder onderwerpscode: economie

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The issue of the appropriate exchange rate regime for individual countries has been perennially lively, and the role played by international capital flows and domestic financial systems in determining the performance of these regimes has gained prominence in the policy debate. Using recent advances in the classification of exchange rate regimes, the key message in this paper is that, as economies and their institutions mature, the value of exchange rate flexibility increases. This study assesses the historical durability and performance of alternative exchange rate regimes, with special focus on developing and emerging market countries. It describes trends in the distribution of regimes and examines the transitions between regimes. It also reviews the performance of exchange rate regimes in terms of inflation and business cycles.

Foreign exchange rates. --- Foreign exchange rates --- Inflation (Finance) --- Business cycles. --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Economic cycles --- Economic fluctuations --- Cycles --- Finance --- Natural rate of unemployment --- Rates --- Finance: General --- Foreign Exchange --- Inflation --- General Financial Markets: General (includes Measurement and Data) --- Price Level --- Deflation --- International Financial Markets --- Currency --- Macroeconomics --- Exchange rate arrangements --- Emerging and frontier financial markets --- Exchange rate flexibility --- Financial markets --- Prices --- Financial services industry --- Foreign exchange market --- Russian Federation