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Do loans harm? The Effect of IMF Programs on Inequality

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Author Info
Niels Gilbert ()
Brigitte Unger ()
Abstract

IMF programs consist of granting loans, and of conditionality that countries have to follow in order to qualify for them. The paper uses a pooled time-series cross section analysis, covering 98 countries over the period 1970-2000 in order to find out which effect IMF programs have on the personal and wage income distribution of the grant receiving country. Similar to findings on growth (Dreher 2006), IMF programs have also a negative impact on income. This is due mainly to conditionality, whereas the amount of loans granted does not seem to harm.

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File URL: http://www.uu.nl/NL/faculteiten/rebo/organisatie/departementen/departementeconomie/onderzoek/publicaties/DiscussionPapers/Documents/09-26.pdf
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Paper provided by Utrecht School of Economics in its series Working Papers with number 09-26.

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Length: 33 pages
Date of creation: Oct 2009
Date of revision:
Handle: RePEc:use:tkiwps:0926

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Related research
Keywords: developing countries; inequality; pooled regression; IMF programs; loans and conditionality;

Find related papers by JEL classification:
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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This page was last updated on 2009-11-23.

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