000			02067nab a2200181 4500
999			_c10635 _d10635
003			OSt
005			20200923111558.0
008			200917b ||||| |||| 00| 0 eng d
100			_aFritz, Barbara _930364
245			_aRegional Financial Arrangements in the Global Financial Safety Net: The Arab Monetary Fund and the Eurasian Fund for Stabilization and Development
260			_bwiley, _c2019.
300			_aVol 50, Issue 1,2019:(96-121p.)
520			_aThe so‐called global financial safety net provides backstop insurance during financial crises. The three elements of the global safety net — the IMF, regional financial arrangements (RFAs) and bilateral swap agreements — underwent substantial changes after the global financial crisis. How have these changes influenced their use? What role do RFAs have in the safety net? This contribution addresses these questions by examining the timeliness, volume and policy conditionality of liquidity provision of each of the three elements, using a data set of 50 RFA member countries from the period 1976–2015. The article presents case studies of the Arab Monetary Fund (AMF) and the Eurasian Fund for Stabilization and Development (EFSD) to create a deeper institutional understanding of the governance mechanisms of regional funds. The authors find that today's global financial safety net produces inequalities in emergency liquidity provision. In terms of volume, RFAs improve the safety net only for small member countries — about one‐third of the countries in the sample can access sufficient liquidity regionally. The experiences of AMF and EFSD demonstrate that intra‐regional asymmetries of RFAs play a contradictory role: while the participation of large economies leverages liquidity provision, it simultaneously creates difficulties for the governance of the regional body.
700			_aMühlich, Laurissa _930365
773	0		_08737 _915395 _dWest Sussex John Wiley & Sons Ltd. 1970 _tDevelopment and change _x0012-155X
856			_u https://doi.org/10.1111/dech.12466
942			_2ddc _cART