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Graduation from the prolonged use of IMF resources: an empirical analysis

Author

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  • Harvey Baldovino
  • Graham Bird
  • Dane Rowlands

Abstract

The prolonged use of resources by some members of the International Monetary Fund has often been presented as being inconsistent with the institution’s purpose of providing only temporary assistance for balance of payments difficulties. In recent years, some formerly prolonged users identified by the Fund’s Independent Evaluation Office have graduated away from using IMF resources. We use Qualitative Comparative Analysis (QCA) to identify the combination of factors that characterize graduating countries. Our results suggest that income status, export growth and effective governance are keys to graduation. Avoiding large fiscal deficits and excessive debt accumulation may also help but are not necessary conditions for graduation.

Suggested Citation

  • Harvey Baldovino & Graham Bird & Dane Rowlands, 2025. "Graduation from the prolonged use of IMF resources: an empirical analysis," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 28(4), pages 413-433, October.
    • Handle: RePEc:taf:jpolrf:v:28:y:2025:i:4:p:413-433
    DOI: 10.1080/17487870.2025.2541594
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