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Strengthening IMF Crisis Prevention

Author/Editor: Ostry, Jonathan David | Zettelmeyer, Jeromin
Authorized for Distribution: November 1, 2005
Electronic Access: Free Full Text (PDF file size is 354KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: To better fulfill its crisis-prevention mandate, IMF surveillance needs to provide stronger incentives for countries to follow good policies and for markets to avoid boom-bust cycles in capital flows. To this end, surveillance should culminate in a summary public assessment of the quality of a country's policies and stipulate the actions needed to address shortcomings. A country's potential access to IMF credits should be linked to the quality of its policies in noncrisis periods in order to create stronger incentives for better policies and reduce incentives for capital to flow where it cannot be used in socially beneficial ways.
 
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Series: Working Paper No. 05/206
Subject(s): Fund | Crisis prevention | Exchange rate policy surveillance
Author's keyword(s): International Monetary Fund | crisis prevention | IMF surveillance
 
English  
    Published:   November 1, 2005        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2005206   Pages:   22
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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