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Balance of Payments, Output and the IMF

Author

Listed:
  • Florian Alburo

    (National Economic Development Authority and University of the Philippines)

  • Dante Canlas

    (University of the Philippines)

Abstract

The paper presents a historical sketch of the various arrangements between the Philippine government and the IMF. It then tries to quantify the output effects of the IMF’s financial programming techniques using a Lucas-Barro type output equation. The model’s estimate of the decline in output for 1984 and 1985 arising from unanticipated money alone is 7 per cent. The actual decline was 9 per cent.

Suggested Citation

  • Florian Alburo & Dante Canlas, 1986. "Balance of Payments, Output and the IMF," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 23(3&4), pages 275-292, September.
    • Handle: RePEc:phs:prejrn:v:23:y:1986:i:3&4:p:275-292
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/download/317/375
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