IDEAS home Printed from https://ideas.repec.org/a/phd/pjdevt/jpd_1992_vol__xix_no__2-b.html

IMF Stabilization Program and Economic Growth: The Case of the Philippines

Author

Listed:
  • Balbosa, Joven Zamoras Author_Email:

Abstract

The beginning of 1970s has witnessed the country’s political and economic predicament. To address these, the 1989 government has succumbed with the IMF program. For a better understanding of the immediate short-run impact of the adjustment programs, this article tests simple models that show the supply-side effects of IMF policies, the results of which indicate that the primary determinant of output and domestic price level is the lending rate. Hence, the task of 1990s is to arrive with policies that focus on the stagflationary effect of contractionary policies, the role of real exchange rate on output and prices and the importance of investment and capital stock.

Suggested Citation

  • Balbosa, Joven Zamoras Author_Email:, 1992. "IMF Stabilization Program and Economic Growth: The Case of the Philippines," Philippine Journal of Development, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:pjdevt:jpd_1992_vol__xix_no__2-b
    DOI: https://doi.org/10.62986/pjd1992.19.2b
    as

    Download full text from publisher

    File URL: https://www.pids.gov.ph/publication/philippine-journal-of-development/imf-stabilization-program-and-economic-growth-the-case-of-the-philippines
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.62986/pjd1992.19.2b?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Florian A. Alburo, 1985. "Philippine Trade in Manufactures Structural Change and Adjustment," UP School of Economics Discussion Papers 198509, University of the Philippines School of Economics.
    2. Morris Goldstein & Peter Montiel, 1986. "Evaluating Fund Stabilization Programs with Multicountry Data: Some Methodological Pitfalls (Evaluation des programmes de stabilisation du Fonds à partir de données sur divers pays: quelques écueils méthodologiques) (La evaluación de los programa," IMF Staff Papers, Palgrave Macmillan, vol. 33(2), pages 304-344, June.
    3. Mr. Malcolm D. Knight & Mr. Mohsin S. Khan, 1985. "Fund Supported Adjustment Programs and Economic Growth," IMF Occasional Papers 1985/009, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:ags:aesdoc:204910 is not listed on IDEAS
    2. Marie-France Jarret & François-Régis Mahieu, 1991. "Ajustement structurel, croissance et répartition : l'exemple de la Côte d'Ivoire," Revue Tiers Monde, Programme National Persée, vol. 32(125), pages 39-62.
    3. Mr. Eugenio M Cerutti, 2007. "IMF Drawing Programs: Participation Determinants and Forecasting," IMF Working Papers 2007/152, International Monetary Fund.
    4. Evrensel, Ayse Y., 2002. "Effectiveness of IMF-supported stabilization programs in developing countries," Journal of International Money and Finance, Elsevier, vol. 21(5), pages 565-587, October.
    5. Elbadawi, Ibrahim A., 1992. "World Bank adjustment lending and economic performance in sub-Saharan Africa in the 1980s : a comparison of early adjusters, late adjusters, and nonadjusters," Policy Research Working Paper Series 1001, The World Bank.
    6. Corbo, Vittorio & Rojas, Patricio, 1991. "World Bank-supported adjustment programs : country performance and effectiveness," Policy Research Working Paper Series 623, The World Bank.
    7. Maasland, Anne, 1990. "Methods for measuring the effect of adjustment policies on income distribution," Policy Research Working Paper Series 474, The World Bank.
    8. Ndulu, Benno, "undated". "Country Study 17," WIDER Working Papers 295384, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    9. Farhad Noorbakhsh & Alberto Paloni, 1998. "Structural adjustment programmes and export supply response," Journal of International Development, John Wiley & Sons, Ltd., vol. 10(4), pages 555-573.
    10. Jinjarak, Yothin & Salinas, Gonzalo & Tsikata, Yvonne M., 2013. "The effect of World Bank trade adjustment assistance on trade and growth, 1987–2004: Is the glass half full or half empty?," Economic Systems, Elsevier, vol. 37(3), pages 415-430.
    11. Iqbal, Zafar & James, Jeffrey & Pyatt, Graham, 2000. "Three-Gap Analysis of Structural Adjustment in Pakistan," Journal of Policy Modeling, Elsevier, vol. 22(1), pages 117-138, January.
    12. I. Goldin & D. Evans, 1991. "Trade Reform and Structural Adjustment," South African Journal of Economics, Economic Society of South Africa, vol. 59(3), pages 141-151, September.
    13. Montes, Manuel F., "undated". "Country Study 2," WIDER Working Papers 295385, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    14. Ghura, Dhaneshwar, 1995. "Effects of macroeconomic policies on income growth, inflation, and output growth in Sub-Saharan Africa," Journal of Policy Modeling, Elsevier, vol. 17(4), pages 367-395, August.
    15. Howard White, 2005. "Dollars, dialogue and development: an evaluation of Swedish program aid," Development and Comp Systems 0511012, University Library of Munich, Germany.
    16. Alvaro Forteza & Martín Rama, 2000. "Labor Market "Rigidity" and the Success of Economic Reforms Across more than One Hundred Countries," Documentos de Trabajo (working papers) 0600, Department of Economics - dECON.
    17. Joachim Betz, 1990. "The social effects of adjustment policy in LDCs," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 25(3), pages 125-130, May.
    18. Michael Hutchison, 2003. "A Cure Worse Than the Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs," NBER Chapters, in: Managing Currency Crises in Emerging Markets, pages 321-359, National Bureau of Economic Research, Inc.
    19. Sebastian Edwards, 1989. "Structural Adjustment Policies in Highly Indebted Countries," NBER Chapters, in: Developing Country Debt and the World Economy, pages 249-262, National Bureau of Economic Research, Inc.
    20. Bordo, Michael D. & Schwartz, Anna J., 2000. "Measuring real economic effects of bailouts: historical perspectives on how countries in financial distress have fared with and without bailouts," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 81-167, December.
    21. Carlos De Resende, 2007. "IMF-Supported Adjustment Programs: Welfare Implications and the Catalytic Effect," Staff Working Papers 07-22, Bank of Canada.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:phd:pjdevt:jpd_1992_vol__xix_no__2-b. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael Ralph M. Abrigo (email available below). General contact details of provider: https://edirc.repec.org/data/pidgvph.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.