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Crises and Liquidity

Crises and Liquidity »

Source: Crises and Liquidity : Evidence and Interpretation

Volume/Issue: 2001/2

Series: IMF Working Papers

Author(s): Enrica Detragiache , and Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

ISBN: 9781451841763

Keywords: Debt crises, creditor runs, short-term debt, debt service, probability, external debt, liquidity variables, International Lending and Debt Problems,

In a large panel of countries, we find that less liquid countries are more likely to default on their external debt. Specifically, for given total external debt, the probability of a crisis increases with the propo...

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries »

Source: The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries

Volume/Issue: 2004/202

Series: IMF Working Papers

Author(s): Gabriela Inchauste , Bernardin Akitoby , Benedict Clements , and Sanjeev Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

ISBN: 9781451874433

Keywords: Wagner&;amp;#x2019;s law, government spending, public spending, public finance, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General,

We examine the short- and long-term movements of government spending relative to output in 51 countries. We find that in the short term, the main components of government spending increase with output in about half...

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic »

Source: A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

Volume/Issue: 2011/220

Series: IMF Working Papers

Author(s): Geoffrey Bannister , and Luis Barrot

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463904227

Keywords: CAPDR, debt intolerance, equation, debt ratio, public debt, external debt, Financial Markets and the Macroeconomy, International Finance: General, International Lending and Debt Problems,

This paper presents an alternative method for calculating debt targets using the debt intolerance literature of Reinhart, Rogoff, and Savastano (2003) and Reinhart and Rogoff (2009). The methodology presented impro...

Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link

Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link »

Source: Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link

Volume/Issue: 2005/223

Series: IMF Working Papers

Author(s): Tito Cordella , Luca Ricci , and Marta Ruiz-Arranz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862423

Keywords: Growth, Debt Overhang, Debt Irrelevance, HIPCs, external debt, public debt, International Lending and Debt Problems, Economic Growth and Aggregate Productivity: General,

Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies wit...

Do Capital Flows Reflect Economic Fundamentals in Developing Countries?

Do Capital Flows Reflect Economic Fundamentals in Developing Countries? »

Source: Do Capital Flows Reflect Economic Fundamentals in Developing Countries?

Volume/Issue: 1993/34

Series: IMF Working Papers

Author(s): Atish Ghosh , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1993

ISBN: 9781451978827

Keywords: current account, current account deficit, current account balances, current account surplus, debt crisis

This paper proposes a methodology for testing whether capital flows to developing countries are determined by economic fundamentals or by purely speculative forces. We use the intertemporal optimizing approach to c...

Dollarization of Liabilities

Dollarization of Liabilities »

Source: Dollarization of Liabilities : Beyond the Usual Suspects

Volume/Issue: 2003/11

Series: IMF Working Papers

Author(s): Adolfo Barajas , and Armando Méndez Morales

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2003

ISBN: 9781451842807

Keywords: panel data, exchange rate, foreign currency, banking, deposit insurance, bank intervention, Multiple or Simultaneous Equation Models: Models with Panel Data, Financial Markets and the Macroeconomy, International Lending and Debt Problems,

Dollarization of liabilities (DL) has emerged as a key factor in explaining the vulnerability of emerging markets to financial and currency crises. "Usual suspects" of causing DL comprise "fatalistic" determinants...

Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries

Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries »

Source: Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries

Volume/Issue: 2004/210

Series: IMF Working Papers

Author(s): Zhanwei Yue , and Samir Jahjah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451874822

Keywords: Sovereign Credit Spreads, Overvaluation, Debt Crises, exchange rate, exchange rate misalignment, bond spreads, bond issue, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

We test the hypothesis of a link between exchange rate policy and sovereign bonds. We analyze the effect of exchange rate policies on supply and credit spreads of sovereign bonds issued by developing countries. An...

Four Decades of Fund Arrangements

Four Decades of Fund Arrangements »

Source: Four Decades of Fund Arrangements : Macroeconomic Stylized Facts Before the Adjustment Programs

Volume/Issue: 1995/74

Series: IMF Working Papers

Author(s): Julio Santaella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1995

ISBN: 9781451849530

Keywords: balance of payments, external debt, export markets, current account, debt crisis

This paper analyzes the initial conditions before Fund financial arrangements are adopted. Evidence from 324 Fund arrangements in 78 developing countries during 1973-91 indicates that there are important difference...

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic »

Volume/Issue: 2011/220

Series: IMF Working Papers

Author(s): Geoffrey Bannister , and Luis Barrot

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904227.001

ISBN: 9781463904227

Keywords: CAPDR, debt intolerance, equation, debt ratio, public debt, external debt, Financial Markets and the Macroeconomy, International Finance: General, International Lending and Debt Problems,

This paper presents an alternative method for calculating debt targets using the debt intolerance literature of Reinhart, Rogoff, and Savastano (2003) and Reinhart and Rogoff (2009). The methodology presented impro...

Crises and Liquidity
			: Evidence and Interpretation

Crises and Liquidity : Evidence and Interpretation »

Volume/Issue: 2001/2

Series: IMF Working Papers

Author(s): Enrica Detragiache , and Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

DOI: http://dx.doi.org/10.5089/9781451841763.001

ISBN: 9781451841763

Keywords: Debt crises, creditor runs, short-term debt, debt service, probability, external debt, liquidity variables, International Lending and Debt Problems,

In a large panel of countries, we find that less liquid countries are more likely to default on their external debt. Specifically, for given total external debt, the probability of a crisis increases with the propo...