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Structural Reforms, IMF Programs and Capacity Building

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  • Rabah Arezki
  • Marc Quintyn
  • Frederik G Toscani

Abstract

This paper investigates the role that International Monetary Fund (IMF) programs and capacity building play in fostering structural reforms. To do so, we exploit two novel datasets on IMF capacity building and structural reforms available for over one hundred IMF member countries over the period 1980 - 2010. The main results are threefold. First, there is a general association between IMF programs and structural reforms but this relationship is not very robust. Second, IMF training leads to an increase in structural reforms but only through IMF programs and only when a significant share of public servants is trained. Third, IMF technical assistance does not significantly lead to more structural reforms but raises the likelihood of completion of ongoing IMF programs. Our results are robust to a large number of checks, estimators and correcting for endogeneity.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 12/232.

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Length: 29
Date of creation: 21 Sep 2012
Date of revision:
Handle: RePEc:imf:imfwpa:12/232

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Related research

Keywords: Fiscal reforms; Fund facilities; External training programs; Fund role; Economic models; technical assistance; regulation; capacity building activities; bureaucratic quality; level of regulation; capacity development; capacity building program; economic cooperation; regulatory environment;

References

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  1. Alberto Alesina & Silvia Ardagna & Francesco Trebbi, 2006. "Who adjusts and when? On the political economy of reforms," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 2108, Harvard - Institute of Economic Research.
  2. Alberto Alesina & David Dollar, 1998. "Who Gives Foreign Aid to Whom and Why?," NBER Working Papers 6612, National Bureau of Economic Research, Inc.
  3. Robert J. Barro & Jong-Wha Lee, 2002. "IMF Programs: Who is Chosen and What Are the Effects?," NBER Working Papers 8951, National Bureau of Economic Research, Inc.
  4. Tommasi, Mariano & Velasco, Andres, 1995. "Where are we in the Political Economy of Reform?," Working Papers, C.V. Starr Center for Applied Economics, New York University 95-20, C.V. Starr Center for Applied Economics, New York University.
  5. Alberto Alesina & Silvia Ardagna & Francesco Trebbi, 2006. "Who Adjusts and When?The Political Economy of Reforms," IMF Staff Papers, Palgrave Macmillan, vol. 53(si), pages 1.
  6. Antonio Spilimbergo & Alessandro Prati & Jonathan David Ostry, 2009. "Structural Reforms and Economic Performance in Advanced and Developing Countries," IMF Occasional Papers 268, International Monetary Fund.
  7. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers, Institute for Fiscal Studies W95/17, Institute for Fiscal Studies.
  8. Dicks-Mireaux, Louis & Mecagni, Mauro & Schadler, Susan, 2000. "Evaluating the effect of IMF lending to low-income countries," Journal of Development Economics, Elsevier, Elsevier, vol. 61(2), pages 495-526, April.
  9. Rabah Arezki & Herbert Lui & Marc Quintyn & Frederik G Toscani, 2012. "Education Attainment in Public Administration Around the World," IMF Working Papers 12/231, International Monetary Fund.
  10. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 34(1), pages 9-41, March.
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Cited by:
  1. Isabella Lindner & Gabriela Mihailovici, 2013. "Understanding Central Banks’ Role in Enlargement – Governance Issues," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 48-65.

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