Work

Explaining IMF Lending Decisions after the Cold War

Year: 2011

Type: article

Abstract: This paper empirically investigates the economic and political factors that affect a country’s likelihood to sign an arrangement with the IMF and the determinants of the financial size of such a program. Arguably the world and the global financial architecture underwent structural changes after the ending of Cold War and so did the role of the IMF. Hence, we update and extend the work of Sturm et al. (2005) by employing a panel model for 165 countries that focuses on the post-Cold War era, i.e., 1990–2009. Our results, based on extreme bounds analysis, suggest that some economic and political variables are robustly related to these two dimensions of IMF program decisions. Furthermore, we show that it is important to distinguish between concessional and non-concessional IMF loans.

Source: reroDoc Digital Library

DOI: 10.3929/ethz-a-006435829

Authors: Moser, Christoph, Sturm, Jan-Egbert

Institution: ETH Zurich

Language: English

Topic: Global Financial Crisis and Policies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Partnerships for the goals, Peace, justice, and strong institutions

Open Access status: green

OpenAlex ID: W2243870697