The effect of IMF programs on economic growth

By A. Przeworski, J. Vreeland. 2000

559 citations recorded by the source corpus.

Using a bivariate, dynamic version of the Heckman selection model, we estimate the effect of participation in International Monetary Fund (IMF) programs on economic growth. We find evidence that governments enter into agreements with the IMF under the pressures of a foreign reserves crisis but they also bring in the Fund to shield themselves from the political costs of adjustment policies. Program participation lowers growth rates for as long as countries remain under a program. Once countries leave the program, they grow faster than if they had remained, but not faster than they would have without participation.

Subfields: Development, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/d29300fdb46871ac9a483397e6811f22396e2399

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Citations in the corpus

Ideology and Voter Preferences as Determinants of Financial Globalization (2007, background): “…by the World Bank as offering similar export products to a home country’s, and are meant to capture competitive dynamics.33 Participation in an IMF program is measured by Przeworski and Vreeland (2000), and is operationalized as a dummy variable available from 1955 (or independence) until 1990.”
The International Monetary Fund: A review of the recent evidence (2008, background): “ Przeworski and Vreeland (2000, 2002) argue that the IMF seeks agreements that maximize its own importance.”
IMF program compliance: Aggregate index versus policy specific research strategies (2006, background): “29 E.g., Conway (1994), Dicks-Mireaux et al. (2000), Goldstein and Montiel (1986), Khan (1990), Pastor (1987a, 1987b), Przeworski and Vreeland (2000), Reichmann and Stillson (1978),Vreeland (2003). economic factors do not completely explain compliance.”
What Role for Learning? The Diffusion of Privatisation in OECD and Latin American Countries (2004, background): “Applications and explanations of this model can be found in Przeworski and Vreeland (2000) and”
Reassessing the Effect of Economic Growth on Well-being in Less-developed Countries, 1980–2003 (2007, background): “1993 ; Bradshaw and Wallace 1996 ; Przeworski and Vreeland 2000 ; Sachs 2005 ) .”
Does Foreign Aid Help (2006, background): “Reinikka and Svensson (2004) use panel data from a unique survey of primary schools in Uganda to analyze the extent to which grants actually reached the schools.”
WHICH VARIABLES EXPLAIN DECISIONS ON IMF CREDIT? AN EXTREME BOUNDS ANALYSIS (2005, unknown): “ Przeworski and Vreeland (2000) report evidence in support of this view.”
The human rights effects of world bank structural adjustment, 1981-2000 (2006, background): “However, research has shown that implementation of structural adjustment conditions actually has a negative effect on economic growth (Przeworski and Vreeland 2000; Vreeland 2003).”