Strengthening IMF Crisis Prevention

Author/Editor:

Jonathan David Ostry ; Jeronimo Zettelmeyer

Publication Date:

November 1, 2005

Electronic Access:

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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.

Series:

Working Paper No. 05/206

Subject:

English

Publication Date:

November 1, 2005

ISBN/ISSN:

9781451862256/1018-5941

Stock No:

WPIEA2005206

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

23

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