Multi-Country Evidenceon the Effects of Macroeconomic, Financial and Trade Policieson Efficiency of Resource Utilization in the Developing Countries

Author/Editor:

Mathew O. Odedokun

Publication Date:

July 1, 1992

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 study examines the effects of selected policies on economic efficiency in 81 developing countries by pooling cross-country data over various subperiods between 1961-90. An incremental output-capital ratio is the measure of economic efficiency, while the policy variables include: export orientation, size of the public sector, directed credit program through development bank lendings, financial depth, inflation rate, real interest rate, and real exchange rate distortion. The export-orientation, financial depth, and real interest rate are found to promote economic efficiency, while other policy variables are found to hinder it.

Series:

Working Paper No. 1992/053

Subject:

Notes:

Examines the effects of selected policies on economic efficiency in 81 developing countries by pooling cross-country data over various subperiods between 1961-90.

English

Publication Date:

July 1, 1992

ISBN/ISSN:

9781451847307/1018-5941

Stock No:

WPIEA0531992

Pages:

36

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