01814cas a2200253 a 4500 AALejournalIMF005472 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451871340 1018-5941 BD-DhAAL BD-DhAAL Mody, Ashoka. From Crisis to IMF-Supported Program : Does democracy impede the speed required by financial markets? / Ashoka Mody, Diego Saravia. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Has the spread of democracy and political participation impeded the need for speed required by financial markets and the elevated threat of contagion across borders? We examine the time span between the onset of a financial crisis and the agreement on an IMF-supported adjustment program. This span appears to have decreased over time. More precisely, we find that the time from a crisis to the approval of a program has been smaller the more serious the crisis. Importantly, this responsiveness to a widening range of financial vulnerabilities has increased with growing financial integration. Democracies, particularly those with checks and balances, have been sensitive to time pressures. Mode of access: Internet Saravia, Diego. IMF Working Papers; Working Paper ; No. 2008/276 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/276/001.2008.issue-276-en.xml IMF e-Library