search query: @author Rowlands, D. / total: 2
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| Author: | Bird, G. Rowlands, D. |
| Title: | Catalysis or Direct Borrowing: The Role of the IMF in Mobilising Private Capital |
| Journal: | World Economy
2001 : JAN, VOL. 24:1, p. 81-98 |
| Index terms: | FINANCE FINANCING DEVELOPING COUNTRIES TRANSITION ECONOMIES |
| Language: | eng |
| Abstract: | In this paper the author considers a third approach to the problem of ensuring adequate financing for developing and transition countries. The layout of the paper is as follows. Section 2 briefly provides an analytical framework by discussing the mix between adjustment and financing in dealing with current account balance of payments deficits and the design of balance of payments policy. Section 3 briefly outlines why indirect catalysis is unlikely to be sufficient to deal with external financing constraints. Section 4 provides an analysis and assessment of the arguments for having the Fund provide higher levels of finance itself, with the resources being made available by borrowing from private capital markets. The adequacy of Fund resources and past borrowing activities are briefly discussed in Section 5. |
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