Series: IMF Working Papers
Author(s): Se-Jik Kim
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2004
Keywords: International lender of last resort, crisis contagion, information asymmetry, crisis prevention, contagion, international crisis, International Monetary Arrangements and Institutions, International Lending and Debt Problems,
This paper proposes that international rescue financing should not be provided to a country where a crisis first occurs, but rather to any country that suffers a subsequent crisis. Such a timing-based lending facil...