The IMF's Role in Mobilizing Private Capital Flows: Are There Grounds for Catalytic Conversion?
AbstractRecent theoretical and empirical research suggests that under certain conditions IMF agreements induce additional inflows of finance from other private sources. This paper provides new empirical evidence on this catalytic effect using a treatment effects model to correct for selectivity. It concludes that catalysis remains weak or negative overall, with nuances that support recent theory.
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Bibliographic InfoPaper provided by School of Economics, University of Surrey in its series School of Economics Discussion Papers with number 0207.
Length: 11 pages
Date of creation: Jan 2007
Date of revision:
IMF; catalysis; international capital flows;
Other versions of this item:
- Graham Bird & Dane Rowlands, 2009. "The IMF's role in mobilizing private capital flows: are there grounds for catalytic conversion?," Applied Economics Letters, Taylor & Francis Journals, vol. 16(17), pages 1705-1708.
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
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- Schmaljohann, Maya, 2013. "Enhancing Foreign Direct Investment via Transparency? Evaluating the Effects of the EITI on FDI," Working Papers 0538, University of Heidelberg, Department of Economics.
- Molly Bauer & Cesi Cruz & Benjamin Graham, 2012. "Democracies only: When do IMF agreements serve as a seal of approval?," The Review of International Organizations, Springer, vol. 7(1), pages 33-58, March.
- Schmaljohann, Maya, 2013. "Enhancing Foreign Direct Investment via Transparency? Evaluating the Effects of the EITI on FDI," Working Papers 538, University of Heidelberg, Department of Economics.
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