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"In this paper, we examine the IMF's role in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF program, although they may initially deteriorate somewhat. Consistent with theoretical predictions and earlier empirical findings, we find that IMF programs are most successful in improving capital flows to countries with bad, but not very bad fundamentals. In such countries, IMF programs are also associated with improvements in the fundamentals themselves"--National Bureau of Economic Research web site.
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Keeping capital flowing: the role of the IMF
2004, International Monetary Fund, European Dept. and Research Dept.
in English
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Keeping capital flowing: the role of the IMF
2004, National Bureau of Economic Research
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in English
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Book Details
Published in
Cambridge, MA
Edition Notes
Includes bibliographical references.
Title from PDF file as viewed on 1/6/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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