Dreher, Axel; Walter, Stefanie - KOF Swiss Economic Institute, Department of Management, … - 2008
compliance with conditionality affect the risk of currency crises and the outcome of such crises. Specifically, we investigate … that the IMF – contrary to the Fund’s critics – does indeed fulfill its functions of promoting exchange rate stability and …Using panel data for 68 countries over the period 1975-2002 this paper examines how IMF programs, disbursed loans, and …