Carlos de Resende and Franz Loyola, On the Effect of IMF Data Standards Initiatives: Do They Affect Foreign Direct Investment, Exchange Rate Volatility, and Sovereign Borrowing Costs?, IEO Background Paper No. BP/16/05, 2016
Source ID
SRC-086
Citation
Carlos de Resende and Franz Loyola, On the Effect of IMF Data Standards Initiatives: Do They Affect Foreign Direct Investment, Exchange Rate Volatility, and Sovereign Borrowing Costs?, IEO Background Paper No. BP/16/05, 2016
AUTHOR-SUPPLIED 15 August 2026, 59 pages, after this process failed on six ieo.imf.org paths, the IEO landing page, WebFetch on both, and an elibrary journal path. The bar recorded under D-051 is discharged.
Claims
CH3 econometric limb, issue 59, D-025
Status
READ
Version history
The register keeps changing after the book is fixed in print. Each entry below was added to this row in the order shown.
UPGRADED PARTIAL -> READ 15 August 2026 on the v3 diff review finding M-6. The row recorded a reading at paragraph 8 only while the chapter and its manifest rely on paragraph 90, paragraph 97 and the contents page. PARAGRAPH 97 VERBATIM: 'The results reported in this section do not support the hypothesis that the SDDS and GDDS initiatives help to reduce sovereign borrowing costs.' PARAGRAPH 90: the re-estimation uses quarterly data from 90 countries over 1991Q1 to 2013Q4, 'substantially larger than that used in CP (2006)'. SCOPE, LOAD-BEARING AND ENFORCED IN PROSE: the paper re-estimates Hashimoto and Wacker (2012) for FDI, Cady and Gonzalez-Garcia (2007) for exchange-rate volatility, and CADY AND PELLECHIO (2006) FOR SOVEREIGN BOND SPREADS. It does not re-estimate Cady (2005). Machine count over the full extracted text: 'Glennerster' 0 occurrences, 'Cady (2005)' 0 occurrences. The five occurrences of 'Shin' are all Im, Pesaran and Shin (2003), the panel unit-root test, and are a different person from Yongseok Shin of Glennerster and Shin. NOT READ: the 59 pages end to end. Read at the title page, contents, paragraphs 8, 90 and 97, and Section V including Table 14. A claim resting on any other part opens it first. The bar this row lifted was recorded at SRC-081 and that row was not brought into line until the v3 diff review found it; see H-6 there.
PRIOR: OBTAINED AT LAST, AND THE SOURCE MANUSCRIPT'S QUOTATION IS EXACT. Paragraph 8, page 10, verbatim: 'Our results indicate that the IMF research findings about the effects of its data dissemination standards initiatives are: (i) likely erroneous for FDI flows, (ii) overstated for exchange rate volatility, and (iii) dubious for sovereign borrowing costs. The original IMF findings are often based on transformations of the data whose removal or correction substantially changes the original results. Overall, the original findings are not robust to changes in the sample.' THE BAR AT UC-16 IS LIFTED. Chapter 3 may now print the quotation and attribute it to BP/16/05, which is what the source manuscript did and what this project had disallowed only because the paper could not be opened. The manuscript's judgement that the passage is 'worth quoting rather than summarising, because a summary would soften it' is borne out: the evaluation's own summary says 'could not find convincing evidence', which is materially milder than 'likely erroneous', 'overstated' and 'dubious'. SCOPE NOTE FOR CHAPTER 3: the paper's three variables are FDI flows, exchange rate volatility and sovereign borrowing costs, and only the third is this chapter's. The 'dubious' verdict attaches to borrowing costs specifically and must not be reported as a verdict on all three at once. STATUS PARTIAL: paragraph 8 and the abstract were read at the page on 15 August 2026 and the 59 pages were not read end to end. The paper's own re-estimation sections should be read before any further claim is made about what it found. It names Cady and Gonzalez-Garcia (2007) in its exchange-rate section and does not name Glennerster and Shin anywhere, so it must not be presented as a re-estimation of the 11 per cent result.