Keeping capital flowing
Subtitle: the role of the IMF
By: Michael D. Bordo, Ashoka Mody, Nienke Oomes.
Contributors: Mody, Ashoka.; Oomes, Nienke.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10834; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10834.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: International Monetary Fund.; Capital movements.; Economic development.
Description: "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 program, although they may initially deteriorate somewhat.  Consistent with theoretical predictions and earlier empirical findings, we find that IMF programs are most successful in improving capital flows to countries with bad, but not very bad fundamentals.  In such countries, IMF programs are also associated with improvements in the fundamentals themselves"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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