The Response Speed of the International Monetary Fund
AbstractThe more severe a financial crisis, the greater has been the likelihood of its management under an IMFsupported program and shorter the time from crisis onset to program initiation. Political links to the United States have raised program likelihood but have prompted faster response mainly for “major” crises. Over time, the IMF’s response has not been robustly faster, but the time sensitivity to the more severe crises and those related to fixed exchange rate regimes did increase from the mid-1980s. Similarly, democracies had tended to stall program initiation but have turned supportive of financial markets’ demands for quicker action.
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Bibliographic InfoPaper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 692.
Date of creation: Jun 2013
Date of revision:
Other versions of this item:
- Ashoka Mody & Diego Saravia, 2013. "The Response Speed of the International Monetary Fund," International Finance, Wiley Blackwell, vol. 16(2), pages 189-211, 06.
- Ashoka Mody & Diego Saravia, 2013. "The response speed of the International Monetary Fund," Working Papers, Bruegel 786, Bruegel.
- NEP-ALL-2014-02-02 (All new papers)
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