What do we know about the global financial safety net? Rationale, data and possible evolution

Bericht

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.

Object Details

• ISBN: 978-92-899-2340-8
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ECB Occasional Paper ; No. 177

Classification and Topics

• Classification: Wirtschaft ; Current Account Adjustment; Short-term Capital Movements ; International Monetary Arrangements and Institutions ; International Lending and Debt Problems ; Financial Crises ; International Fiscal Issues; International Public Goods
• Subject: financial globalisation ; financial integration ; global financial safety net ; IMF

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Scheubel, Beatrice ; Stracca, Livio
• Event: Veröffentlichung
• (who): European Central Bank (ECB)
• (where): Frankfurt a. M.
• (when): 2016

Further information

• DOI: doi:10.2866/54497
• Handle: http://hdl.handle.net/10419/154630
• Last update: 10.03.2025, 11:44 AM CET