Assessing Loss of Market Access: Conceptual and Operational Issues

Author/Editor:

Anastasia Guscina ; Sheheryar Malik ; Michael G. Papaioannou

Publication Date:

November 15, 2017

Electronic Access:

Free Full Text (PDF file size is 933 KB).Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

Loss of market access (LMA) is a central element and an exacerbator of balance of payments and fiscal crises. This paper provides an operational definition of LMA, examines the predictive power of potential LMA leading indicators, attempts to determine the likely nature (temporary versus structural) of an LMA episode, and analyzes potential implications of such an assessment on the required degree of adjustment to restore market access. Finally, it highlights the possible application of the methodological framework for identifying emerging risks to market access.

Series:

Working Paper No. 17/246

Subject:

English

Publication Date:

November 15, 2017

ISBN/ISSN:

9781484324936/1018-5941

Stock No:

WPIEA2017246

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

63

Please address any questions about this title to publications@imf.org