IMF Support and Crisis Prevention
( Occasional Papers )
Publication series ： Occasional Papers
Author： Mr. Atish R. Ghosh Mr. Juan Zalduendo Mr. Alun H. Thomas Mr. Jun Il Kim Ms. Uma Ramakrishnan Bikas Joshi
Publisher： INTERNATIONAL MONETARY FUND
Publication year： 2008
E-ISBN: 9781451936520
P-ISBN(Paperback): 9781589067097
Subject： F821.6 international monetary relations
Language： ENG
Disclaimer: Any content in publications that violate the sovereignty, the constitution or regulations of the PRC is not accepted or approved by CNPIEC.
Description
This paper examines the various roles of IMF financing in crisis prevention. Emerging market economies that experienced financial crises in the past have been subject to enormous economic and social costs, highlighting the importance of crisis prevention. While the main defense against a crisis lies in a country’s own policies and institutional framework, the IMF can contribute to these efforts through its surveillance activities, provision of technical assistance, and promotion of standards and codes. But the IMF may be able to contribute to crisis prevention more directly by providing contingent financial support. This paper explores the theoretical basis of, and empirical evidence for, possible “crisis prevention programs.”