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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)

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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File URL: http://128.118.178.162/eps/pe/papers/0504/0504011.pdf
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Bibliographic 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

Note: Type of Document - pdf
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Web page: http://128.118.178.162

Related research

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

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References

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  1. Conway, Patrick, 1994. "IMF lending programs: Participation and impact," Journal of Development Economics, Elsevier, vol. 45(2), pages 365-391, December.
  2. Jinyong Hahn & Jerry Hausman, 1999. "A New Specification Test for the Validity of Instrumental Variables," Working papers 99-11, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Graham Bird & Dane Rowlands, 1997. "The Catalytic Effect of Lending by the International Financial Institutions," The World Economy, Wiley Blackwell, vol. 20(7), pages 967-991, November.
  4. 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.
  5. Garuda, Gopal, 2000. "The Distributional Effects of IMF Programs: A Cross-Country Analysis," World Development, Elsevier, vol. 28(6), pages 1031-1051, June.
  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.
  7. Soojin Moon & Ales Bulir, 2003. "Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable?," IMF Working Papers 03/38, International Monetary Fund.
  8. Robert R. Kaufman & Alex Segura-Ubiergo, 2005. "Globalization, Domestic Politics and Social Spending in Latin," Public Economics 0504009, EconWPA.
  9. International Monetary Fund, 1998. "Do IMF-Supported Programs Work? a Survey of the Cross-Country Empirical Evidence," IMF Working Papers 98/169, International Monetary Fund.
  10. Dicks-Mireaux, Louis & Mecagni, Mauro & Schadler, Susan, 2000. "Evaluating the effect of IMF lending to low-income countries," Journal of Development Economics, Elsevier, vol. 61(2), pages 495-526, April.
  11. 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.
  12. Barro, Robert J. & Lee, Jong-Wha, 2005. "IMF programs: Who is chosen and what are the effects?," Journal of Monetary Economics, Elsevier, vol. 52(7), pages 1245-1269, October.
  13. Dollar, David & Svensson, Jakob, 1998. "What explains the success or failure of structural adjustment programs?," Policy Research Working Paper Series 1938, The World Bank.
  14. G. A. Mackenzie & Philip R. Gerson & David William Harold Orsmond, 1997. "The Composition of Fiscal Adjustment and Growth," IMF Occasional Papers 149, International Monetary Fund.
  15. Reza Baqir, 2002. "Social Sector Spending in a Panel of Countries," IMF Working Papers 02/35, International Monetary Fund.
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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Bring Out the Punching Bag Again: The IMF, Aid, and Public Spending on Health
    by Amanda Glassman in Global Health Policy on 2011-01-19 22:54:43
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Cited by:
  1. Doris A. Oberdabernig, 2012. "Revisiting the Effects of IMF Programs on Poverty and Inequality," Department of Economics Working Papers wuwp144, Vienna University of Economics, Department of Economics.
  2. Khan, Rana Ejaz Ali & Nawaz, Muhammad Atif & Hussain, Altaf, 2011. "Impact evaluation of structural adjustment program: a case of Pakistan," MPRA Paper 34835, University Library of Munich, Germany.

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