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Capital Flows with Debt- and Equity-Financed Investment-Equilibrium Structure and Efficiency Implications

Capital Flows with Debt- and Equity-Financed Investment-Equilibrium Structure and Efficiency Implications »

Volume/Issue: 1998/159

Series: IMF Working Papers

Author(s): Assaf Razin , Chi-Wa Yuen , and Efraim Sadka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1998

DOI: http://dx.doi.org/10.5089/9781451857641.001

ISBN: 9781451857641

Keywords: debt and equity, efficient capital flows, asymmetric information, corrective policy, equity market, capital flows, equity finance, stock of capital, capital market

This paper distinguishes between debt and equity flows in the presence of information asymmetry between the firm’s “insiders” and “outsiders” in a small open economy. It shows the...

Catalyzing Capital Flows
			: Do IMF-Supported Programs Work As Commitment Devices?

Catalyzing Capital Flows : Do IMF-Supported Programs Work As Commitment Devices? »

Volume/Issue: 2003/100

Series: IMF Working Papers

Author(s): Diego Saravia , and Ashoka Mody

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

DOI: http://dx.doi.org/10.5089/9781451852424.001

ISBN: 9781451852424

Keywords: signaling, bond, bond issuance, bonds, capital flows, international capital, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

An objective of IMF-supported programs is to help countries improve their access to international capital markets. In this paper, we examine the issue whether IMF-supported programs influence the ability of develop...

Fiscal Expansion and External Current Account Balance

Fiscal Expansion and External Current Account Balance »

Volume/Issue: 1988/100

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 1988

DOI: http://dx.doi.org/10.5089/9781451948622.001

ISBN: 9781451948622

Keywords: current account, balance of payments, bonds, government debt, international reserves

This paper analyzes, in a general equilibrium framework, how fiscal policy transmits its effects to the current account of the balance of payments. In discussing the role of fiscal policies in the Fund’s sta...