We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the...

In these brief concluding remarks, I confine myself to a few reflections on some of the themes that have been broached today, without much reference to individual authors or comments, as it would be impossible to summarize everything that has been said at this conference about the new...

This study is devoted to competitiveness in banking. Con- ceptual, measurement, and interpretational issues are dis- cussed innovatively and indetail by a number of leading international experts in the field. Theoretical contributions from the area of international trade in services and from...

This book shows three specific characteristics: First, the focus of many of the investigations is on the analysis of micro data. As the issue of competitiveness is closely linked to the performance, the costs, and the efficiency of the production of financial services by individual banking...

"Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...