Compliance with IMF Program Indicators and Growth in Transition Economies

By Anna Unigovskaya, Valerie A Mercer-Blackman

March 1, 2000

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Anna Unigovskaya, and Valerie A Mercer-Blackman. Compliance with IMF Program Indicators and Growth in Transition Economies, (USA: International Monetary Fund, 2000) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Financial institutions, Multilateral development institutions, Structural reforms

Keywords: Baltics, Central and Eastern Europe, Country, Europe, Fund arrangement, Fund conditionality, Fund program, Initial conditions, Multilateral development institutions, Performance criteria, Structural benchmark, Transition and growth, Transition country, Transition economy, WP

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2000/047
Stock No:

WPIEA0472000
ISBN:

9781451846638
ISSN:

1018-5941

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