Compliance with IMF Program Indicators and Growth in Transition Economies

Author/Editor:

Anna Unigovskaya ; Valerie A Mercer-Blackman

Publication Date:

March 1, 2000

Electronic Access:

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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.

Series:

Working Paper No. 2000/047

Subject:

Financial institutions Multilateral development institutions Structural reforms

English

Publication Date:

March 1, 2000

ISBN/ISSN:

9781451846638/1018-5941

Stock No:

WPIEA0472000

Pages:

28

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