Location of Repository

The IMF's Role in Mobilizing Private Capital Flows: Are There Grounds for Catalytic Conversion?

By Graham Bird and Dane Rowlands

Abstract

Recent 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.IMF, catalysis, international capital flows

OAI identifier:

Suggested articles

Preview

Citations

  1. (2002). Bedfellows, Hostages or Perfect Strangers? Global Capital Markets and the Catalytic Effect of IMF Crisis Lending,
  2. (2005). Can We Explain the Pattern of IMF Lending
  3. (2003). Catalytic Finance: When Does It Work? Cowles Foundation Discussion Paper No 1400,
  4. (2003). Catalyzing Capital Flows: Do IMF-Supported Programs Work as Commitment Devices? IMF Working Paper, 03/100 (IMF, Washington DC). Forthcoming in Economic Journal.
  5. (2005). IMF programs: Who Is Chosen and What Are the Effects?
  6. (2003). International Lending of Last Resort and Moral Hazard: A Model of IMF Catalytic Finance, NBER Working Paper No 10125.

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.