Search Results

You are looking at 1 - 10 of 60 items :

  • Keyword: international lending x
Clear All Modify Search
Moral Hazard and International Crisis Lending: A Test

Moral Hazard and International Crisis Lending: A Test »

Source: Moral Hazard and International Crisis Lending : A Test

Volume/Issue: 2002/181

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia , Jeronimo Zettelmeyer , and Isabel Schnabel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2002

ISBN: 9781451859201

Keywords: international lending, bond, crisis lending, bond spreads, bonds, International Lending and Debt Problems, Econometric Methods: - Single Equation Models,

We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailou...

IMF Lending and Banking Crises1

IMF Lending and Banking Crises1 »

Source: IMF Lending and Banking Crises

Volume/Issue: 2015/19

Series: IMF Working Papers

Author(s): Luca Papi , Andrea Presbitero , and Alberto Zazzaro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 January 2015

ISBN: 9781484308691

Keywords: lending, liquidity, International Monetary Arrangements and Institutions, International Lending and Debt Problems, Macroeconomic Analyses of Economic Development,

This paper looks at the effects of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention...

Sovereign Defaults

Sovereign Defaults »

Source: Sovereign Defaults : The Role of Volatility

Volume/Issue: 2002/149

Series: IMF Working Papers

Author(s): Bennett Sutton , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2002

ISBN: 9781451856903

Keywords: Macroeconomic Volatility, capital inflows, capital markets, sovereign defaults, international borrowing, International Lending and Debt Problems,

While the relationship between volatility and credit risk is central to much of the literature on finance and banking, it has been largely neglected in empirical macro studies on sovereign defaults. This paper pres...

Lending Resumption After Default

Lending Resumption After Default »

Source: Lending Resumption After Default : Lessons from Capital Markets During the 19th Century

Volume/Issue: 2006/176

Series: IMF Working Papers

Author(s): Juan Sole

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2006

ISBN: 9781451864366

Keywords: costly state verification, debt contract, repayments, international capital markets, Asymmetric and Private Information, International Lending and Debt Problems,

This paper mines the experience of capital markets during the 19th century to propose an alternative way of interpreting international default episodes. The standard view is that defaulting on sovereign debt entail...

Inflation Targeting and Country Risk

Inflation Targeting and Country Risk »

Source: Inflation Targeting and Country Risk : An Empirical Investigation

Volume/Issue: 2013/21

Series: IMF Working Papers

Author(s): Armand Fouejieu , and Scott Roger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2013

ISBN: 9781475554717

Keywords: inflation, monetary policy, inflation rate, effect of inflation, International Lending and Debt Problems,

The sovereign debt crisis in Europe has highlighted the role of country risk premia as a link between countries' fiscal and external balances, financial conditions and monetary policy. The purpose of this paper is...

Missing Link

Missing Link »

Source: Missing Link : Volatility and the Debt Intolerance Paradox

Volume/Issue: 2004/51

Series: IMF Working Papers

Author(s): Luis Catão , and Sandeep Kapur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2004

ISBN: 9781451847147

Keywords: macroeconomic volatility, probability, statistics, debt intolerance, probabilities, International Lending and Debt Problems,

A striking feature of sovereign lending is that many countries with moderate debt-to-income ratios systematically face higher spreads and more stringent borrowing constraints than others with far higher debt ratios...

On the Determinants of First-Time Sovereign Bond Issues

On the Determinants of First-Time Sovereign Bond Issues »

Source: On the Determinants of First-Time Sovereign Bond Issues

Volume/Issue: 2003/184

Series: IMF Working Papers

Author(s): David Grigorian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

ISBN: 9781451859386

Keywords: sovereign bonds, first-time market access, bond, bonds, bond issues, international capital markets, sovereign bond, International Lending and Debt Problems,

In recent years, the number of countries which have borrowed in international capital markets by issuing sovereign bonds has increased substantially. For these countries, capital market access meant a de facto ackn...

Capital Flows to Central and Eastern Europe

Capital Flows to Central and Eastern Europe »

Source: Capital Flows to Central and Eastern Europe

Volume/Issue: 2006/188

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Philip Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451864489

Keywords: Trade balance, rates of return, net external position, FDI, liabilities, debt, external debt, external liabilities, International Lending and Debt Problems,

We examine the evolution of the net external asset positions of Central and Eastern Europe (CEEC) countries over the past decade, with a strong emphasis on the composition of their international balance sheets. We...

The Incidence and Effectiveness of Prior Actions in IMF-supported Programs

The Incidence and Effectiveness of Prior Actions in IMF-supported Programs »

Source: The Incidence and Effectiveness of Prior Actions in IMF-supported Programs

Volume/Issue: 2006/213

Series: IMF Working Papers

Author(s): Uma Ramakrishnan , and Alun Thomas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2006

ISBN: 9781451864731

Keywords: prior actions, signaling, commitment, implementation, inflation, inflation rate, structural conditionality, nominal interest rate, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

Prior actions are measures that need to be implemented prior to Board approval of an IMFsupported program. This paper examines whether such prior actions can signal a willingness to implement reforms, especially wh...

Default Premium

Default Premium »

Source: Default Premium

Volume/Issue: 2015/167

Series: IMF Working Papers

Author(s): Luis Catão , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 July 2015

ISBN: 9781513523507

Keywords: Country Risk, Interest Rate Spread, Haircut, market, debt, default, interest, interest rate, International Lending and Debt Problems, General

We re-assess the view that sovereigns with a history of default are charged only a small and/or short-lived premium on the interest rate warranted by observed fundamentals. Our reassessment uses a metric of such a...