Determinants of Pre-Pandemic Demand for the IMF’s Concessional Financing

Determinants of Pre-Pandemic Demand for the IMF’s Concessional Financing
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Volume/Issue: Volume 2021 Issue 015
Publication date: January 2021
ISBN: 9781513567778
$18.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Concessional financing , dynamic factor model , probit regression , , WP , financing arrangement , IMF staff calculation , IMF financing event , factor estimation step

Also of interest
August 2009 Working Papers
April 2010
March 2010
January 2010
Summary

This study focuses on identifying the main factors that influenced country-specific and aggregate demand for IMF concessional financing between 1986 and 2018 and makes within-period and out-of-period forecasts. We find that the external debt level, inflation, and real effective exchange rate are the main economic variables influencing concessional borrowing for most eligible countries. Finally, our approach is able to provide quite accurate country-level and aggregate forecasts for historical financing events prior to the COVID-19 pandemic.

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