Safety for whom? The scattered global financial safety net and the role of regional financial arrangements

Abstract: The global financial safety net provides backstop during times of financial crises. Its elements underwent fundamental changes since the global financial crisis. The International Monetary Fund (IMF) introduced new facilities on the global level, new regional financial arrangements (RFAs) were created, and bilateral swap agreements emerged as a new element. In this paper, we ask how these changes influence the use of the different safety net options, and what role RFAs have in the safety net today. We created a database with all the cases in which a RFA member drew on one of the elements of the global safety net. This allows us to analyze which other options the country had at hand, and to examine their use along the institutional design in terms of timeliness, volume, and policy conditionality. We find today's global financial safety net to be not a global, but a geographically and structurally scattered net. RFAs make the safety net safer only for small member countries. Just few

Object Details

• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource, 33 S.
• Language: Englisch
• Notes: Erstveröffentlichung ; begutachtet (peer reviewed)

References and Relationships

• Bibliographic citation: KFG Working Paper Series ; Bd. 75

Classification and Topics

• Classification: Wirtschaft

Contributors, Places and Time

• Event: Veröffentlichung
• (where): Berlin
• (when): 2016
• Creator: Mühlich, Laurissa ; Fritz, Barbara
• Contributor: Freie Universität Berlin, FB Politik- und Sozialwissenschaften, Otto-Suhr-Institut für Politikwissenschaft Kolleg-Forschergruppe "The Transformative Power of Europe"

Further information

• URN: urn:nbn:de:0168-ssoar-48298-5
• Rights: Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 15.08.2025, 7:28 AM CEST