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Book Cover
Author Cordella, Tito, author

Title Country insurance / prepared by Tito Cordello and Eduardo Levy Yeyati
Published [Washington D.C.] : International Monetary Fund, [2004]
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Description 1 online resource (26 pages)
Series IMF working paper ; WP/04/148
IMF working paper ; WP/04/148
Summary In this paper, we examine how the presence of country insurance schemes affects policymakers' incentives to undertake reforms. Such schemes (especially when made contingent on negative external shocks) are more likely to foster than to delay reform in crisis-prone volatile economies. The consequences of country insurance, however, hinge on the nature of the reforms being considered: "buffering" reforms, aimed at mitigating the cost of crises, could be partially substituted for, and ultimately discouraged by, insurance. By contrast, "enhancing" reforms that pay off more generously in the absence of a crisis are likely to be promoted
Bibliography Includes bibliographical references
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Financial crises -- Econometric models.
Insurance -- Government policy.
Moral hazard -- Econometric models.
Form Electronic book
Author Levy Yeyati, Eduardo, author
International Monetary Fund. Research Department, issuing body
ISBN 1282046063