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Adoption of an IMF programme and debt rescheduling: an empirical analysis
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Marchesi, Silvia (2000) Adoption of an IMF programme and debt rescheduling: an empirical analysis. Working Paper. Coventry: University of Warwick. Centre for the Study of Globalisation and Regionalisation. Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation) (No.56/00).
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Official URL: http://www2.warwick.ac.uk/fac/soc/csgr/research/wo...
Abstract
The existence of an empirical relationship between the adoption of an IMF programme and the concession of a debt rescheduling by commercial and official creditors is tested using a bivariate probit model. If countries who have arrangements with the IMF are more likely than others to obtain a rescheduling of their external debt we could conclude that the adoption of an IMF programme could work as a sort of signal of a country's "good willingness", which is thus rewarded with the debt relief. The results confirm the existence of a significant effect of the adoption of an IMF programme on the subsequent concession of a debt rescheduling by creditors.
| Item Type: | Working or Discussion Paper (Working Paper) | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HJ Public Finance | ||||
| Divisions: | Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation | ||||
| Library of Congress Subject Headings (LCSH): | International Monetary Fund, Debts, Public, Debt relief, Probits, International economic relations | ||||
| Series Name: | Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation) | ||||
| Publisher: | University of Warwick. Centre for the Study of Globalisation and Regionalisation | ||||
| Place of Publication: | Coventry | ||||
| Official Date: | June 2000 | ||||
| Dates: |
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| Number: | No.56/00 | ||||
| Number of Pages: | 33 | ||||
| Institution: | University of Warwick | ||||
| Status: | Not Peer Reviewed | ||||
| Access rights to Published version: | Open Access | ||||
| Funder: | Marie Curie Fellowship Association (MCFA) | ||||
| Grant number: | ERB4001GT973677 (MCFA) |
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