Strengthening IMF Crisis Prevention

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 count...

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Bibliographic Details
Main Author: Ostry, Jonathan
Other Authors: Zettelmeyer, Jeromin
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2005
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Argentina 
653 |a Crisis prevention 
653 |a Economic & financial crises & disasters 
653 |a International Monetary Arrangements and Institutions 
653 |a Finance 
653 |a Financial crises 
653 |a Public finance & taxation 
653 |a Currency; Foreign exchange 
653 |a Capital markets 
653 |a Capital market 
653 |a Crisis management 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a International Lending and Debt Problems 
653 |a International Economic Order and Integration 
653 |a Foreign Exchange 
653 |a Financial markets 
653 |a Emerging and frontier financial markets 
653 |a Taxation, Subsidies, and Revenue: General 
653 |a Financial services industry 
653 |a Tax incentives 
653 |a Exchange rates 
653 |a Financial Risk Management 
653 |a Taxation 
653 |a Finance: General 
653 |a Foreign exchange 
653 |a Financial Crises 
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520 |a 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