IMF Support and Crisis Prevention

Atish Ghosh (), Juan Zalduendo, Alun Thomas, Jun Kim, Uma Ramakrishnan and Bikas Joshi

No 2008/004, IMF Occasional Papers from International Monetary Fund

Abstract: 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.”

Keywords: OP; crisis; IMF support; financing; IMF financing variable; market; precautionary program; IMF disbursement; balance sheet weakness; Capital account crisis; Crisis prevention; Financial statements; International reserves; East Asia; Africa (search for similar items in EconPapers)
Pages: 33
Date: 2008-05-16
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Citations: View citations in EconPapers (5)

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