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Social Spending in IMF-supported Programs

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Author Info
Ricardo Martin (World Bank)
Alex Segura-Ubiergo (International Monetary Fund)

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Abstract

This paper analyzes the impact of IMF-supported programs on health and education spending in a large time-series cross-section sample of countries. Using an ARIMA model to model time dynamics and instrumental variables to correct for the well-known endogeneity of IMF-supported programs, the paper finds, contrary to the conventional wisdom, that health and education do not decline in the presence of an IMF-supported program. However, this does not necessarily mean that the poor are protected from the costs of economic adjustment.

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Publisher Info
Paper provided by EconWPA in its series Public Economics with number 0504011.

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Date of creation: 30 Apr 2005
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Handle: RePEc:wpa:wuwppe:0504011

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Web page: http://129.3.20.41

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Related research
Keywords: social spending; IMF-supported programs; health; education;

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Find related papers by JEL classification:
D6 - Microeconomics - - Welfare Economics
D7 - Microeconomics - - Analysis of Collective Decision-Making
H - Public Economics

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Benedict J. Clements & Liam P. Ebrill & Sanjeev Gupta & Anthony J. Pellechio & Jerald Alan Schiff & George T. Abed & Ronald T. McMorran & Marijn Verhoeven, 1998. "Fiscal Reforms in Low-Income Countries," IMF Occasional Papers 160, International Monetary Fund.
  2. Nadeem Ul Haque & Mohsin S. Khan, 1998. "Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence," IMF Working Papers 98/169, International Monetary Fund.
  3. Soojin Moon & Aleš Bulir, 2003. "Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable?," IMF Working Papers 03/38, International Monetary Fund. [Downloadable!]
  4. Dollar, David & Svensson, Jakob, 2000. "What Explains the Success or Failure of Structural Adjustment Programmes?," Economic Journal, Royal Economic Society, vol. 110(466), pages 894-917, October. [Downloadable!] (restricted)
    Other versions:
  5. Jinyong Hahn & Jerry Hausman, 2002. "A New Specification Test for the Validity of Instrumental Variables," Econometrica, Econometric Society, vol. 70(1), pages 163-189, January. [Downloadable!] (restricted)
    Other versions:
  6. Przeworski, Adam & Vreeland, James Raymond, 2000. "The effect of IMF programs on economic growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 385-421, August. [Downloadable!] (restricted)
  7. Baltagi, Badi H. & Li, Qi, 2002. "On instrumental variable estimation of semiparametric dynamic panel data models," Economics Letters, Elsevier, vol. 76(1), pages 1-9, June. [Downloadable!] (restricted)
  8. 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. [Downloadable!] (restricted)
    Other versions:
  9. Philip R. Gerson & G. A. Mackenzie & David William Harold Orsmond, 1997. "The Composition of Fiscal Adjustment and Growth: Lessons from Fiscal Reforms in Eight Economies," IMF Occasional Papers 149, International Monetary Fund.
  10. Garuda, Gopal, 2000. "The Distributional Effects of IMF Programs: A Cross-Country Analysis," World Development, Elsevier, vol. 28(6), pages 1031-1051, June. [Downloadable!] (restricted)
  11. Reza Baquir, 2002. "Social Sector Spending in a Panel of Countries," IMF Working Papers 02/35, International Monetary Fund.
  12. Conway, Patrick, 1994. "IMF lending programs: Participation and impact," Journal of Development Economics, Elsevier, vol. 45(2), pages 365-391, December. [Downloadable!] (restricted)
  13. Robert R. Kaufman & Alex Segura-Ubiergo, 2005. "Globalization, Domestic Politics and Social Spending in Latin," Public Economics 0504009, EconWPA. [Downloadable!]
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