 Do IMF Programmes Have a Catalytic Effect on Other International Capital Flows?Oxford Development Studies, 2002, vol. 30, issue 3, 229-249 Abstract: It has frequently been assumed that the International Monetary Fund (IMF) plays an important catalysing role in mobilizing international capital for developing countries and countries in transition. The Fund has conventionally been depicted as a "gatekeeper" that unlocks financial flows from other sources, particularly private international capital markets. However, more recently, international financial crises have highlighted the problem of capital volatility and have led to calls for reform of the international financial architecture and, as part of this, the IMF. Unfortunately, basic questions about the interaction between current institutional arrangements and international capital markets have yet to be answered. How do international capital markets react to the activities of the IMF? Do the reactions of private and public lenders differ? Have their reactions changed over time? Do market responses depend on country characteristics and on the type of IMF involvement and, if so, how? This paper addresses these questions and goes on to discuss the policy implications that arise. Date: 2002 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:oxdevs:v:30:y:2002:i:3:p:229-249 Ordering information: This journal article can be ordered from DOI: 10.1080/1360081022000012671 Access Statistics for this article Oxford Development Studies is currently edited by Jo Boyce and Frances Stewart More articles in Oxford Development Studies from Taylor & Francis Journals |
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