Compliance with IMF Program Indicators and Growth in Transition Economies
March 1, 2000
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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
Pages:
28
Volume:
2000
DOI:
Issue:
047
Series:
Working Paper No. 2000/047
Stock No:
WPIEA0472000
ISBN:
9781451846638
ISSN:
1018-5941
