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How Does the Global Economic Environment Influence the Demand for IMF Resources?

Abstract
The main objective of this paper is to quantify the relationship between the global economic environment and the number of Stand-By Arrangements (SBAs). The results suggest that oil prices, world interest rates, and the global business cycle are the most influential indicators that affect the number of SBAs being requested. In addition, the empirical model seems to have reasonable accuracy when predicting SBAs. Furthermore, when oil prices, interest rates, and the global business cycle are adversely shocked by one standard deviation, the conditional probability of a SBA nearly doubles, implying an increase from about six to 12 SBAs. More critically, the model suggests that even a steady deterioration of the global economic climate would imply increasingly harsher conditions for developing and emerging market countries which may in turn significantly increase the demand for IMF resources
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. IMF ARRANGEMENTS FROM 1970 TO 2004""; ""III. INDICATORS OF THE GLOBAL ECONOMIC ENVIRONMENT""; ""IV. METHODOLOGY""; ""V. EMPIRICAL RESULTS""; ""VI. ROBUSTNESS""; ""VII. PREDICTING ACCESS LEVELS""; ""VIII. CONCLUDING REMARKS""; ""APPENDIX I. BACKGROUND ON IMF ARRANGEMENTS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
"October 2006"
Physical Description
1 online resource (35 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9786613829986

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