A Theory of International Crisis Lending and IMF Conditionality

A Theory of International Crisis Lending and IMF Conditionality
We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the return of private capital, and ensuring repayment... READ MORE...

Publication date: October 2008
ISBN 9781451870947
$18.00

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