{
  "title": "Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence",
  "publication": "IMF Working Papers, December 1, 1998",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/do-imf-supported-programs-work-a-survey-of-the-cross-country-empirical-evidence-2837",
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  "summary": "Over the last two decades a number of cross-country empirical studies have been undertaken to assess whether IMF-supported adjustment programs have led to an improved balance of payments and current account balance, lower inflation, and higher growth.",
  "sections": [
    {
      "heading": "Overview and objective",
      "content": "- Critically surveys cross-country empirical studies conducted over the last two decades that assess whether IMF-supported adjustment programs have led to an improved balance of payments and current account balance, lower inflation, and higher growth.\n- Pays special attention to the pros and cons of the respective empirical methodologies employed.\n- Notes that studies use a variety of methodologies and cover different country samples and time periods."
    },
    {
      "heading": "Key findings from the surveyed literature",
      "content": "- The surveyed cross-country studies, particularly the more recent ones, conclude that IMF-supported programs have generally been successful in stabilizing the economy.\n- Empirical evidence examined focuses on outcomes including:\n  - balance of payments and current account balance\n  - inflation\n  - growth"
    },
    {
      "heading": "Methodological observations",
      "content": "- Studies employ a variety of empirical methodologies.\n- The paper emphasizes evaluation of the strengths and weaknesses (pros and cons) of these methodologies when interpreting program effects across countries and time periods."
    },
    {
      "heading": "Subject areas and keywords covered",
      "content": "- Subjects: Current account, Current account balance, Domestic credit, Inflation, Labor\n- Keywords: adjustment program, Fund-supported program, policy recommendation, program country, program effect, program participation, WP\n\n---\n\n Content in this bundle\n\n- Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence - WP/98/169\n  - Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence - WP/98/169 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence - WP/98/169 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/do-imf-supported-programs-work-a-survey-of-the-cross-country-empirical-evidence-2837"
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    "Published: December 1, 1998",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451858310.001",
    "Critically surveys cross-country empirical studies conducted over the last two decades that assess whether IMF-supported adjustment programs have led to an improved balance of payments and current account balance, lower inflation, and higher growth.",
    "Pays special attention to the pros and cons of the respective empirical methodologies employed.",
    "Notes that studies use a variety of methodologies and cover different country samples and time periods.",
    "The surveyed cross-country studies, particularly the more recent ones, conclude that IMF-supported programs have generally been successful in stabilizing the economy.",
    "Empirical evidence examined focuses on outcomes including:",
    "Studies employ a variety of empirical methodologies.",
    "The paper emphasizes evaluation of the strengths and weaknesses (pros and cons) of these methodologies when interpreting program effects across countries and time periods.",
    "Subjects: Current account, Current account balance, Domestic credit, Inflation, Labor",
    "Keywords: adjustment program, Fund-supported program, policy recommendation, program country, program effect, program participation, WP",
    "**Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence - WP/98/169**"
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