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150128 ||| eng |
| 020 |
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|a 9781451849530
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| 100 |
1 |
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|a Santaella, Julio
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| 245 |
0 |
0 |
|a Four Decades of Fund Arrangements
|b Macroeconomic Stylized Facts Before the Adjustment Programs
|c Julio Santaella
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1995
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| 300 |
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|a 50 pages
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| 651 |
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4 |
|a Central African Republic
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| 653 |
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|a Foreign exchange reserves
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| 653 |
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|a Credit
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| 653 |
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|a International Monetary Arrangements and Institutions
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Monetary economics
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Real effective exchange rates
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| 653 |
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|a Currency
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| 653 |
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|a Trade: General
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| 653 |
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|a Exports and Imports
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a International economics
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| 653 |
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|a External debt
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| 653 |
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|a Debts, External
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| 653 |
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|a Money
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| 653 |
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|a Central banks
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| 653 |
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|a Domestic credit
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a International trade
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| 653 |
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|a International reserves
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| 653 |
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|a Exports
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Banking
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Foreign exchange
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/1995/074/001.1995.issue-074-en.xml?cid=1903-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper analyzes the initial conditions before Fund financial arrangements are adopted. Evidence from 324 Fund arrangements in 78 developing countries during 1973-91 indicates that there are important differences in the characteristics between program episodes and a control group. Program episodes exhibit weaker balance of payments, output growth, investment, external conditions and fiscal policy than the control group; they are also characterized by a higher degree of external indebtedness and inflation, and their exchange rates are more depreciated in both nominal and real terms. Only in the case of the growth rates of money and credit do the two groups appear to be statistically similar
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