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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) | ||||
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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Status: | Not Peer Reviewed | ||||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 (Creative Commons) | ||||
Funder: | Marie Curie Fellowship Association (MCFA) | ||||
Grant number: | ERB4001GT973677 (MCFA) |
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