Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/147009 
Year of Publication: 
2016
Series/Report no.: 
Diskussionsbeiträge No. 2016/20
Publisher: 
Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft, Berlin
Abstract: 
The paper analyses how the IMF brought its experience gained in emerging market sovereign debt crises in the troika's handling of the euro crisis. We link models of multiple equilibria with the IMF's experience made in Latin American crises in the 2000s. We examine subsequent changes in the IMF's policy guidelines and show that previous insights have been taken in, but applied only with a significant delay and partially against institutional rules and internal advice for the case of Greece. Hence, we argue that the inclusion of the IMF in Europe's crisis fighting did not completely deliver what had been hoped for.
Subjects: 
euro crisis
emerging market debt crisis
IMF
multiple equilibria
sovereign debt resolution mechanism
Document Type: 
Working Paper

Files in This Item:
File
Size
328.66 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.