## IMF Support and Crisis Prevention

_Occasional Papers, May 16, 2008_

## Source details

**Canonical URL:** [IMF Support and Crisis Prevention](https://www.imf.org/en/publications/occasional-papers/issues/2016/12/31/imf-support-and-crisis-prevention-21645)

## Other formats

- [Markdown version](/en/publications/occasional-papers/issues/2016/12/31/imf-support-and-crisis-prevention-21645/index.md)
- [Structured JSON version](/en/publications/occasional-papers/issues/2016/12/31/imf-support-and-crisis-prevention-21645/index.json)
- [Bundle manifest](/en/publications/occasional-papers/issues/2016/12/31/imf-support-and-crisis-prevention-21645/bundle-manifest.json)

## Bibliographic details
- Authors: Atish R. Ghosh, Juan Zalduendo, Alun H. Thomas, Jun I Kim, Uma Ramakrishnan, Bikas Joshi
- Published: May 16, 2008
- Series: Occasional Papers
- DOI: https://doi.org/10.5089/9781589067097.084

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### Summary
- 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.
- The main defense against a crisis lies in a country’s own policies and institutional framework.
- The IMF can contribute to crisis prevention through:
  - surveillance activities,
  - provision of technical assistance,
  - promotion of standards and codes.
- The IMF may be able to contribute more directly by providing contingent financial support.
- The paper explores the theoretical basis of, and empirical evidence for, possible “crisis prevention programs.”

### Major themes and findings
- Crisis prevention is critical because past financial crises in emerging market economies led to enormous economic and social costs.
- IMF contributions to prevention include non-financial tools (surveillance, technical assistance, standards and codes) and potential direct financial tools (contingent financing).
- The paper evaluates both theoretical arguments and empirical evidence regarding crisis prevention programs.

### Subject coverage and keywords
- Subjects: Balance of payments, Capital account crisis, Central banks, Crisis prevention, Financial crises, Financial statements, International reserves, Public financial management (PFM)
- Keywords: Africa, balance sheet weakness, Capital account crisis, crisis, Crisis prevention, East Asia, Financial statements, financing, IMF disbursement, IMF financing variable, IMF support, International reserves, market, OP, precautionary program

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## Content in this bundle

- **IMF Support and Crisis Prevention -- Overview; IMF Occasional Paper 08/262; May 16 2008.**
  - [IMF Support and Crisis Prevention -- Overview; IMF Occasional Paper 08/262; May 16 2008. (Markdown version)](/-/media/websites/imf/imported-publications/external/pubs/nft/op/262/_op262.pdf.md){rel="alternate" type="text/markdown"}
  - [IMF Support and Crisis Prevention -- Overview; IMF Occasional Paper 08/262; May 16 2008. (PDF)](/-/media/websites/imf/imported-publications/external/pubs/nft/op/262/_op262.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/occasional-papers/issues/2016/12/31/imf-support-and-crisis-prevention-21645_