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The response speed of the International Monetary Fund. Bruegel Working Paper 2013/03, 16 July 2013

Mody, Ashoka and Saravia, Diego (2013) The response speed of the International Monetary Fund. Bruegel Working Paper 2013/03, 16 July 2013. [Working Paper]

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    Abstract

    The more severe a financial crisis, the greater has been the likelihood of its management under an IMF-supported programme and the shorter the time from crisis onset to programme initiation. Political links to the United States have increased programme 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 programme initiation but have become more supportive of financial markets’ demands for quicker action.

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    Item Type: Working Paper
    Subjects for non-EU documents: Other international institutions > IMF
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Jul 2013 15:12
    Number of Pages: 30
    Last Modified: 23 Jul 2013 15:12
    URI: http://aei.pitt.edu/id/eprint/42914

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