The IMF's role in mobilizing private capital flows: are there grounds for catalytic conversion?

Graham Bird and Dane Rowlands

Applied Economics Letters, 2009, vol. 16, issue 17, 1705-1708

Abstract: Recent theoretical and empirical research suggests that under certain conditions IMF agreements induce additional inflows of finance from private international capital markets. This article provides new empirical evidence on this catalytic effect using a treatment effects model to correct for selectivity. It concludes that catalysis remains weak or negative overall, with nuances that support recent theory.

Date: 2009
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Citations: View citations in EconPapers (9)

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Working Paper: The IMF's Role in Mobilizing Private Capital Flows: Are There Grounds for Catalytic Conversion? (2007)
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DOI: 10.1080/13504850701604169

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