The Analysis of Catalysis: IMF Programs and Private Capital Flows

Graham Bird and Dane Rowlands

No 107, School of Economics Discussion Papers from School of Economics, University of Surrey

Abstract: This paper examines the claim that the IMF catalyzes other capital flows. We identify a series of propositions based on recent theoretical work, use a treatment effects model to deal with selection bias, and examine whether the IMF catalyzes both aggregate private financial flows and important subgroups for middle-income countries. The results presented here support many of the propositions, but also indicate that the sign and significance of catalysis varies according to the type of flow and the circumstances of the country. The finding that catalysis is complex and nuanced has important implications for policy that are briefly discussed.

Keywords: IMF; catalysis; international capital flows; private capital flows (search for similar items in EconPapers)
JEL-codes: F32 F33 F34 O19 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2007-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://repec.som.surrey.ac.uk/2007/DP01-07.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sur:surrec:0107

Access Statistics for this paper

More papers in School of Economics Discussion Papers from School of Economics, University of Surrey Contact information at EDIRC.
Bibliographic data for series maintained by Ioannis Lazopoulos ().