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Compliance with IMF Program Indicators and Growth in Transition Economies

Author

Listed:
  • Anna Unigovskaya
  • Valerie A Mercer-Blackman

Abstract

This paper makes use of the IMF’s Database for Monitoring Fund Arrangements (MONA) to investigate whether transition countries that more successfully implement the conditionality of IMF programs tend to show a better performance on recovery and growth. It is not possible to determine a clear-cut relationship between the index that determines the level of compliance with structural benchmarks in IMF programs and growth. However, the paper finds a definite, positive relationship between the index of compliance with performance criteria and growth, even after controlling for the extent of stabilization of the transition countries.

Suggested Citation

  • Anna Unigovskaya & Valerie A Mercer-Blackman, 2000. "Compliance with IMF Program Indicators and Growth in Transition Economies," IMF Working Papers 00/47, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:00/47
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    References listed on IDEAS

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    Cited by:

    1. Bird, Graham, 2001. "IMF Programs: Do They Work? Can They be Made to Work Better?," World Development, Elsevier, vol. 29(11), pages 1849-1865, November.
    2. Hutchison, Michael M. & Noy, Ilan, 2003. "Macroeconomic effects of IMF-sponsored programs in Latin America: output costs, program recidivism and the vicious cycle of failed stabilizations," Journal of International Money and Finance, Elsevier, vol. 22(7), pages 991-1014, December.
    3. Marek Dabrowski, 2001. "Currency Crises in Emerging Markets - Selected Comparative Studies," CASE Network Reports 0041, CASE-Center for Social and Economic Research.
    4. James Vreeland, 2006. "IMF program compliance: Aggregate index versus policy specific research strategies," The Review of International Organizations, Springer, vol. 1(4), pages 359-378, December.
    5. Dreher, Axel, 2006. "IMF and economic growth: The effects of programs, loans, and compliance with conditionality," World Development, Elsevier, vol. 34(5), pages 769-788, May.
    6. Graham Bird, 2008. "The implementation of IMF programs: A conceptual framework," The Review of International Organizations, Springer, vol. 3(1), pages 41-64, March.
    7. Bal Gündüz, Yasemin, 2016. "The Economic Impact of Short-term IMF Engagement in Low-Income Countries," World Development, Elsevier, vol. 87(C), pages 30-49.
    8. James L. Butkiewicz & Halit Yanikkaya, 2003. "An Assessment of the Effectiveness of International Financial Intervention," Working Papers 03-05, University of Delaware, Department of Economics.
    9. Christian Mumssen & Yasemin Bal Gunduz & Christian H Ebeke & Linda Kaltani, 2013. "IMF-Supported Programs in Low Income Countries; Economic Impact over the Short and Longer Term," IMF Working Papers 13/273, International Monetary Fund.
    10. Morris Goldstein, 2001. "IMF Structural Conditionality: How Much is Too Much?," Working Paper Series WP01-4, Peterson Institute for International Economics.
    11. Cafiso, Gianluca, 2002. "Mandato e Attività del Fondo Monetario Internazionale
      [The Mandate and the Activity of the International Monetary Fund]
      ," MPRA Paper 28272, University Library of Munich, Germany.
    12. Arpac, Ozlem & Bird, Graham & Mandilaras, Alex, 2008. "Stop Interrupting: An Empirical Analysis of the Implementation of IMF Programs," World Development, Elsevier, vol. 36(9), pages 1493-1513, September.

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