Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154630
Authors: 
Scheubel, Beatrice
Stracca, Livio
Year of Publication: 
2016
Series/Report no.: 
ECB Occasional Paper 177
Abstract: 
This paper critically reviews the theoretical basis for the provision of the global financial safety net (GFSN) and provides a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank swap lines and regional financing arrangements) for over 150 countries in the sample period 1960-2015. This paper also presents some key stylised facts regarding the provision of GFSN financing and compares macroeconomic outcomes in capital flow reversal episodes depending on how much GFSN financing was available to countries. Finally, this paper concludes with some avenues for further research on the possible evolution of the GFSN.
Subjects: 
financial globalisation
financial integration
global financial safety net
IMF
JEL: 
F32
F33
F34
G01
H87
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-2340-8
Document Type: 
Research Report

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