What do we know about the global financial safety net? : a new comprehensive data set

Beatrice Scheubel, Livio Stracca

This paper critically reviews the theoretical basis for the provision of the global financial safety net (GFSN) and provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank swap lines and regional financing arrangements) for over 150 countries in the sample period 1960-2015. This paper also presents some key stylised facts regarding the provision of GFSN financing and compares macroeconomic outcomes in capital flow reversal episodes depending on how much GFSN financing was available to countries. Finally, this paper concludes with some avenues for further research on the possible evolution of the GFSN.

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Year of publication:	November 2016
Authors:	Scheubel, Beatrice ; Stracca, Livio
Publisher:	Munich : CESifo, Center for Economic Studies & Ifo Institute
Subject:	global financial safety net \| financial integration \| financial globalisation \| IMF \| Welt \| World \| Internationaler Finanzmarkt \| International financial market \| Globalisierung \| Globalization \| Kapitalmobilität \| Capital mobility \| Internationales Währungssystem \| International monetary system \| Finanzmarktregulierung \| Financial market regulation \| Finanzkrise \| Financial crisis