IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Macro performance under adjustment lending

  • Faini, Riccardo
  • De Melo, Jaime
  • Senhadji-Semlali, Abdel
  • Stanton, Julie

The authors of this paper use simple statistical methods to measure the effect of adjustment lending (AL) on economic performance. Using eight economic indicators, they rely on traditional"before-after"comparisons of AL recipients and a control group of 62 countries. How have countries under adjustment lending performed? AL countries improved their external position, generating enough of a trade balance surplus to service their external debt. Fiscal indicatorsdeteriorated, however, a sign that macroeconomic imbalances remained. Finally, growth rates fell, reflecting deteriorating terms of trade and the difficulties of reducing absorption to the required degree. On nine economic indicators, AL recipients fared better overall than the non recipients - though the improvement varied between 53 and 33 percent, depending on the classification. Some improvements were mild, some statistically insignificant. Improvements are stronger for a group of 12 AL recipients that received 3 or more adjustment loans.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www-wds.worldbank.org/servlet/WDSContentServer/WDSP/IB/2000/08/18/000009265_3960927174218/Rendered/PDF/multi_page.pdf
Download Restriction: no

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 190.

as
in new window

Length:
Date of creation: 30 Apr 1989
Date of revision:
Handle: RePEc:wbk:wbrwps:190
Contact details of provider: Postal: 1818 H Street, N.W., Washington, DC 20433
Phone: (202) 477-1234
Web page: http://www.worldbank.org/
Email:


More information through EDIRC

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.:

as in new window
  1. Jeffrey Sachs & Harry Huizinga, 1987. "U.S. Commercial Banks and the Developing-Country Debt Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 555-606.
  2. Fran├žois Bourguignon & William H. Branson & Jaime de Melo, 1989. "Macroeconomic Adjustment and Income Distribution: A Macro-Micro Simulation Model," OECD Development Centre Working Papers 1, OECD Publishing.
  3. Rudiger Dornbusch, 1985. "Policy and Performance Links between LDC Debtors and Industrial Nations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 16(2), pages 303-368.
  4. Dani Rodrik, 1988. "The Welfare Economics of Debt Service," NBER Working Papers 2655, National Bureau of Economic Research, Inc.
  5. Cline, William R, 1985. "International Debt: From Crisis to Recovery?," American Economic Review, American Economic Association, vol. 75(2), pages 185-90, May.
  6. Balassa, Bela, 1988. "Quantitative appraisal of adjustment lending," Policy Research Working Paper Series 79, The World Bank.
  7. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:190. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.