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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...

Credit Rationing in Emerging Economies' Access to Global Capital Markets

Credit Rationing in Emerging Economies' Access to Global Capital Markets »

Source: Credit Rationing in Emerging Economies' Access to Global Capital Markets

Volume/Issue: 2004/70

Series: IMF Working Papers

Author(s): Edda Zoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451849189

Keywords: international lending, statistic, statistics, financial statistics, international financial statistics, Financial Markets and the Macroeconomy, International Lending and Debt Problems,

This paper tests empirically the theoretical prediction that the country premium paid by emerging economies on sovereign debt increases with the amount of debt up to a certain critical level, above which the supply...

How Do Exchange Rate Regimes Affect Firms' Incentives to Hedge Currency Risk? Micro Evidence for Latin America

How Do Exchange Rate Regimes Affect Firms' Incentives to Hedge Currency Risk? Micro Evidence for Latin America »

Source: How Do Exchange Rate Regimes Affect Firms' Incentives to Hedge Currency Risk? Micro Evidence for Latin America

Volume/Issue: 2012/69

Series: IMF Working Papers

Author(s): Herman Kamil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781463939052

Keywords: exchange rate, exchange rate regime, International Lending and Debt Problems,

Using a unique dataset with information on the currency composition of firms' assets and liabilities in six Latin-American countries, I investigate how the choice of exchange rate regime affects firms' foreign curr...

Sovereign Insurance and Program Design

Sovereign Insurance and Program Design »

Source: Sovereign Insurance and Program Design : What is Optimal for the Sovereign?

Volume/Issue: 2006/64

Series: IMF Working Papers

Author(s): Miguel Messmacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863246

Keywords: International Financial Architecture, deposit insurance, financial system, international finance, International Economic Order, International Monetary Arrangements and Institutions, International Lending and Debt Problems, International Policy Coordination and Transmission,

The design of the optimal sovereign insurance contract is analyzed when: the sovereign chooses the contract; effort is not contractible; shocks are of uncertain magnitude; the sovereign can save; and the sovereign...

International Capital Crunches

International Capital Crunches »

Source: International Capital Crunches : The Time-Varying Role of Informational Asymmetries

Volume/Issue: 2002/43

Series: IMF Working Papers

Author(s): Ashoka Mody , and Mark Taylor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451846331

Keywords: disequilibrium, rationing, asymmetric information, international capital, international capital flows, capital crunch, stock market, International Lending and Debt Problems, Rationining,

We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equ...

How Do Migration and Remittances Affect Inequality? A Case Study of Mexico

How Do Migration and Remittances Affect Inequality? A Case Study of Mexico »

Source: How Do Migration and Remittances Affect Inequality? A Case Study of Mexico

Volume/Issue: 2018/136

Series: IMF Working Papers

Author(s): Zsoka Koczan , and Franz Loyola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2018

ISBN: 9781484361634

Keywords: Western Hemisphere, Mexico, Migration, Remittances, inequality, Firm Behavior, International Lending and Debt Problems

The poverty-reducing effects of remittances have been well-documented, however, their effects on inequality are less clear. This paper examines the impact of remittances on inequality in Mexico using household-leve...

Government Debt in Emerging Market Countries

Government Debt in Emerging Market Countries »

Source: Government Debt in Emerging Market Countries : A New Data Set

Volume/Issue: 2006/98

Series: IMF Working Papers

Author(s): Anastasia Guscina , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2006

ISBN: 9781451863581

Keywords: Debt Maturity, inflation, government debt, international debt, currency debt, International Lending and Debt Problems, Financial Aspects of Economic Integration,

This paper presents a new database on government debt in 19 emerging market countries since 1980. The data set focuses on the structure of debt in terms of jurisdiction of insurance, maturity, currency composition...

Crisis Resolution

Crisis Resolution »

Source: Crisis Resolution : Next Steps

Volume/Issue: 2003/196

Series: IMF Working Papers

Author(s): Kenneth Kletzer , Barry Eichengreen , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451859980

Keywords: Collective Action, Aggregation, Transition, bonds, bond, bondholders, sovereign debt, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

At the April 2003 meeting of the International Monetary and Financial Committees, it was decided to further encourage the contractual approach to smoothing the process of sovereign debt restructuring by encouraging...

Is Foreign Debt Portfolio Management Efficient in Emerging Economies?

Is Foreign Debt Portfolio Management Efficient in Emerging Economies? »

Source: Is Foreign Debt Portfolio Management Efficient in Emerging Economies?

Volume/Issue: 2001/121

Series: IMF Working Papers

Author(s): Khaled Hussein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

ISBN: 9781451854381

Keywords: emerging economies, cointegration, debt portfolio, currency composition, debt management, International Lending and Debt Problems,

This paper develops a simple model of foreign debt portfolio management. The model suggests that, under mild conditions, the currency composition of a country's foreign debt portfolio is responsive to exchange rate...

The Global Credit Crunch and Foreign Banks' Lending to Emerging Markets

The Global Credit Crunch and Foreign Banks' Lending to Emerging Markets »

Source: The Global Credit Crunch and Foreign Banks' Lending to Emerging Markets : Why Did Latin America Fare Better?

Volume/Issue: 2010/102

Series: IMF Working Papers

Author(s): Kulwant Rai , and Herman Kamil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

ISBN: 9781455200610

Keywords: global: credit crunch, cross-border lending, foreign banks, foreign bank, international settlements, foreign currency, foreign affiliates, International Lending and Debt Problems, Financial Aspects of Economic Integration, International Finance Forecasting and Simulation,

The recent global financial turmoil raised questions about the stability of foreign banks' financing to emerging market countries. While foreign banks' lending growth to most emerging market regions contracted shar...