Do Imf Supported Programs Catalyze Donor Assistance To Low Income Countries

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Do IMF-Supported Programs Catalyze Donor Assistance to Low-Income Countries?

Yasemin Bal-Gunduz,Masyita Crystallin
Do IMF Supported Programs Catalyze Donor Assistance to Low Income Countries Book PDF

Author : Yasemin Bal-Gunduz,Masyita Crystallin
Publisher : International Monetary Fund
Page : 33 pages
File Size : 50,9 Mb
Release : 2014-11-12
Category : Business & Economics
ISBN : 9781498351935

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Do IMF-Supported Programs Catalyze Donor Assistance to Low-Income Countries? by Yasemin Bal-Gunduz,Masyita Crystallin Pdf

This study explores whether IMF-supported programs in low-income countries (LICs) catalyze Official Development Assistance (ODA). Based on a comprehensive set of ODA measures and using Propensity Score Matching approach to address selection bias, we show that programs addressing policy or exogenous shocks have a significant catalytic impact on both the size and the modality of ODA. Moreover, the impact is greatest when LICs are faced with substantial macroeconomic imbalances or large shocks. Nevertheless, when countries attracting similar donor assistance before shocks are matched results for bilateral ODA turn insignificant, suggesting that the catalytic impact is attributed primarily to multilateral ODA.

IMF-Supported Programs in Low Income Countries

Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani
IMF Supported Programs in Low Income Countries Book PDF

Author : Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani
Publisher : International Monetary Fund
Page : 64 pages
File Size : 45,8 Mb
Release : 2014-01-15
Category : Business & Economics
ISBN : 9781484359433

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IMF-Supported Programs in Low Income Countries by Mr.Christian Mumssen,Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Linda Kaltani Pdf

This paper studies the short and longer-term impact of IMF engagement in Low-Income Countries (LICs) over nearly three decades. In contrast to earlier studies, we focus on a sample composed exclusively of LICs and disentangle the different effects of IMF longer-term engagement and short-term financing using a propensity score matching approach to control for selection bias. Our results indicate that longer-term IMF support (at least five years of program engagement per decade) helped LICs sustain economic growth and boost resilience by building fiscal buffers. Interestingly, the size of IMF financing has no significant impact on economic growth, possibly pointing to the prominent role of IMF policy advice and institutional capacity building in the context of longer-term engagement. We also present evidence that the short-term IMF engagement through augmentations of existing programs or short-term and emergency facilities is positively associated with a wide range of macroeconomic outcomes. Notably, the IMF financial support has the greatest impact on short-term growth when LICs are faced with substantial macroeconomic imbalances or exogenous shocks.

The Economic Impact of IMF-Supported Programs in Low-Income Countries

Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Burcu Hacibedel,Ms.Linda Kaltani,Ms.Vera V Kehayova,Mr.Chris Lane,Mr.Christian Mumssen,MissNkunde Mwase,Mr.Joseph Thornton
The Economic Impact of IMF Supported Programs in Low Income Countries Book PDF

Author : Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Burcu Hacibedel,Ms.Linda Kaltani,Ms.Vera V Kehayova,Mr.Chris Lane,Mr.Christian Mumssen,MissNkunde Mwase,Mr.Joseph Thornton
Publisher : International Monetary Fund
Page : 60 pages
File Size : 41,9 Mb
Release : 2013-10-04
Category : Business & Economics
ISBN : 9781484394717

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The Economic Impact of IMF-Supported Programs in Low-Income Countries by Yasemin Bal-Gunduz,Mr.Christian Ebeke,Ms.Burcu Hacibedel,Ms.Linda Kaltani,Ms.Vera V Kehayova,Mr.Chris Lane,Mr.Christian Mumssen,MissNkunde Mwase,Mr.Joseph Thornton Pdf

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

The Economic Impact of IMF-Supported Programs in Low-Income Countries

Yasemin Bal-Gunduz,Mr. Christian Ebeke,Ms. Burcu Hacibedel,Ms. Linda Kaltani,Ms. Vera V Kehayova,Mr. Chris Lane,Mr. Christian Mumssen,Nkunde Mwase,Mr. Joseph Thornton
The Economic Impact of IMF Supported Programs in Low Income Countries Book PDF

Author : Yasemin Bal-Gunduz,Mr. Christian Ebeke,Ms. Burcu Hacibedel,Ms. Linda Kaltani,Ms. Vera V Kehayova,Mr. Chris Lane,Mr. Christian Mumssen,Nkunde Mwase,Mr. Joseph Thornton
Publisher : INTERNATIONAL MONETARY FUND
Page : 60 pages
File Size : 47,7 Mb
Release : 2013-10-04
Category : Business & Economics
ISBN : 1475559038

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The Economic Impact of IMF-Supported Programs in Low-Income Countries by Yasemin Bal-Gunduz,Mr. Christian Ebeke,Ms. Burcu Hacibedel,Ms. Linda Kaltani,Ms. Vera V Kehayova,Mr. Chris Lane,Mr. Christian Mumssen,Nkunde Mwase,Mr. Joseph Thornton Pdf

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

The Impact of IMF-Supported Programs on FDI in Low-income Countries

Mr.Ali J Al-Sadiq
The Impact of IMF Supported Programs on FDI in Low income Countries Book PDF

Author : Mr.Ali J Al-Sadiq
Publisher : International Monetary Fund
Page : 38 pages
File Size : 53,7 Mb
Release : 2015-07-16
Category : Business & Economics
ISBN : 9781513502342

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The Impact of IMF-Supported Programs on FDI in Low-income Countries by Mr.Ali J Al-Sadiq Pdf

It is common for IMF-supported adjustment programs with low-income member countries (LICs) to project that they will facilitate FDI inflows. The main objective of this paper is to empirically examine this hypothesis. Using an unbalanced panel dataset for 73 low-income countries over the period 1980–2012, and two different econometric methods that address the selection-bias problem, the empirical results robustly show that participating in IMF-supported program is associated with a significant increase in FDI inflows.

The Economic Impact of IMF-Supported Programs in Low-Income Countries

Yasemin Bal-Gunduz,Christian Ebeke,Burcu Hacibedel,Linda Kaltani,Vera Kehayova,Chris Lane,Christian Mumssen,Nkunde Mwase,Joseph Thornton
The Economic Impact of IMF Supported Programs in Low Income Countries Book PDF

Author : Yasemin Bal-Gunduz,Christian Ebeke,Burcu Hacibedel,Linda Kaltani,Vera Kehayova,Chris Lane,Christian Mumssen,Nkunde Mwase,Joseph Thornton
Publisher : Unknown
Page : 0 pages
File Size : 55,9 Mb
Release : 2013
Category : Business & Economics
ISBN : 1484386515

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The Economic Impact of IMF-Supported Programs in Low-Income Countries by Yasemin Bal-Gunduz,Christian Ebeke,Burcu Hacibedel,Linda Kaltani,Vera Kehayova,Chris Lane,Christian Mumssen,Nkunde Mwase,Joseph Thornton Pdf

This paper aims to assess the economic impact of the IMF’s support through its facilities for low-income countries. It relies on two complementary econometric analyses: the first investigates the longer-term impact of IMF engagement—primarily through successive medium-term programs under the Extended Credit Facility and its predecessors (and more recently the Policy Support Instrument)—on economic growth and a range of other indicators and socioeconomic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of Extended Credit Facility arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance.

IMF-Supported Programs and Income Convergence in Low-Income Countries

Tejesh Pradhan,Mr.Ali J Al-Sadiq
IMF Supported Programs and Income Convergence in Low Income Countries Book PDF

Author : Tejesh Pradhan,Mr.Ali J Al-Sadiq
Publisher : International Monetary Fund
Page : 37 pages
File Size : 55,8 Mb
Release : 2018-12-13
Category : Business & Economics
ISBN : 9781484392492

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IMF-Supported Programs and Income Convergence in Low-Income Countries by Tejesh Pradhan,Mr.Ali J Al-Sadiq Pdf

Continuing the empirical debate on the effects of IMF-supported programs on participating countries’ macroeconomic performance, we focus on the issue of whether these programs accelerate conditional ß-convergence among low-income countries (LICs). We use an unbalanced panel dataset for 85 LICs over the period 1986-2015 and employ two different econometric methods to address the selection bias problem. Our empirical results suggest that the rate of conditional income per capita convergence is faster among LICs with extended IMF support than that in countries without support or with intermittent support.

International Monetary Fund Annual Report 2021

International Monetary Fund. Secretary's Department
International Monetary Fund Annual Report 2021 Book PDF

Author : International Monetary Fund. Secretary's Department
Publisher : International Monetary Fund
Page : 74 pages
File Size : 54,7 Mb
Release : 2021-10-04
Category : Business & Economics
ISBN : 9781513568812

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International Monetary Fund Annual Report 2021 by International Monetary Fund. Secretary's Department Pdf

A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

IMF-Supported Programs

Mr.Ashoka Mody,Mr.Alessandro Rebucci
IMF Supported Programs Book PDF

Author : Mr.Ashoka Mody,Mr.Alessandro Rebucci
Publisher : International Monetary Fund
Page : 184 pages
File Size : 47,8 Mb
Release : 2006-04-03
Category : Business & Economics
ISBN : 1589063619

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IMF-Supported Programs by Mr.Ashoka Mody,Mr.Alessandro Rebucci Pdf

Research work by the IMF’s staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to “open up the black box” by more closely examining program design and implementation, as well as how these influence programs’ effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries’ economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF’s general principle of uniformity of treatment.

2018 Review of Facilities for Low-Income Countries

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.
2018 Review of Facilities for Low Income Countries Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 72 pages
File Size : 47,9 Mb
Release : 2018-08-01
Category : Nature
ISBN : 9781498310871

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2018 Review of Facilities for Low-Income Countries by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept. Pdf

The Fund is facing strong demand for financing from low-income countries (LICs). Commodity price shocks and loose fiscal policies have contributed to rising debt levels and financing needs in many countries. Several developing states, especially smaller ones, are also increasingly vulnerable to large natural disasters. At the same time, many LICs less dependent on commodity exports have enjoyed robust growth in recent years, with more contained vulnerabilities.

The International Monetary Fund

Graham Bird
The International Monetary Fund Book PDF

Author : Graham Bird
Publisher : Edward Elgar Publishing
Page : 256 pages
File Size : 46,7 Mb
Release : 2016-03-25
Category : Business & Economics
ISBN : 9780857939708

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The International Monetary Fund by Graham Bird Pdf

There is no shortage of opinion about the International Monetary Fund (IMF). Some see it as the agent of austerity, being manipulated by wealthy nations and forcing poorer countries to pursue economic policies that suppress growth and development. A sharply contrasting view regards it as bailing out such countries with large amounts of soft finance, allowing them to avoid necessary adjustment. The challenge is to evaluate the alternative arguments and to distinguish reality from rhetoric. In this book, the authors undertake a careful and detailed empirical analysis of the underlying issues, covering participation in IMF programs, their implementation and effects on economic growth, and on the willingness of international capital markets to lend. Blending research methodologies and crossing conventional disciplinary boundaries, what emerges is a balanced and nuanced assessment of the IMF’s operations that confronts many commonly held views. Unique in its broad scope, this careful examination of the IMF will be of great interest to students and academics in the fields of international economics and international relations. Those involved in international financial institutions and national monetary institutions will also find it to be an impartial and illuminating study.

A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior

Mr.Calixte Ahokpossi,Laurence Allain,Giovanna Bua
A Constrained Choice Impact of Concessionality Requirements on Borrowing Behavior Book PDF

Author : Mr.Calixte Ahokpossi,Laurence Allain,Giovanna Bua
Publisher : International Monetary Fund
Page : 41 pages
File Size : 55,5 Mb
Release : 2014-09-24
Category : Business & Economics
ISBN : 9781498349727

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A Constrained Choice? Impact of Concessionality Requirements on Borrowing Behavior by Mr.Calixte Ahokpossi,Laurence Allain,Giovanna Bua Pdf

This paper uses the propensity matching score approach to assess the impact of the IMF’s debt limits policy (DLP) on borrowing behavior in countries eligible to borrow from its concessional lending window. The paper finds that countries under the DLP borrow significantly higher amounts of concessional resources. However, there is no evidence that the DLP significantly impacts the level of non-concessional borrowing nor the terms of such borrowing. This result is confirmed by the heterogeneity analysis, suggesting that the level of development, rather than concessionality requirements, is the key driver of non-concessional borrowing.

What Does Aid Do to Fiscal Policy? New Evidence

Jean-Louis Combes,Rasmané Ouedraogo,Mr.Sampawende J.-A. Tapsoba
What Does Aid Do to Fiscal Policy New Evidence Book PDF

Author : Jean-Louis Combes,Rasmané Ouedraogo,Mr.Sampawende J.-A. Tapsoba
Publisher : International Monetary Fund
Page : 32 pages
File Size : 44,6 Mb
Release : 2016-06-09
Category : Business & Economics
ISBN : 9781484382691

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What Does Aid Do to Fiscal Policy? New Evidence by Jean-Louis Combes,Rasmané Ouedraogo,Mr.Sampawende J.-A. Tapsoba Pdf

Foreign aid is a sizable source of government financing for several developing countries and its allocation matters for the conduct of fiscal policy. This paper revisits fiscal effects of shifts in aid dependency in 59 developing countries from 1960 to 2010. It identifies structural shifts in aid dependency: upward shifts (structural increases in aid inflows) and downward shifts (structural decreases in aid inflows). These shifts are treated as shocks in aid dependency and treatment effect methods are used to assess the fiscal effects of aid. It finds that shifts in aid dependency are frequent and have significant fiscal effects. In addition to traditional evidence of tax displacement and “aid illusion,” we show that upward shifts and downward shifts in aid dependency have asymmetric effects on the fiscal accounts. Large aid inflows undermine tax capacity and public investment while large reductions in aid inflows tend to keep recipients’ tax and expenditure ratios unchanged. Moreover, the tax displacement effects tend to be temporary while the impact on expenditure items are persistent. Finally, we find that the undesirable fiscal effects of aid are more pronounced in countries with low governance scores and low absorptive capacity, as well as those with IMF-supported programs.

IMF Lending and Banking Crises

Luca Papi,Andrea Presbitero,Alberto Zazzaro
IMF Lending and Banking Crises Book PDF

Author : Luca Papi,Andrea Presbitero,Alberto Zazzaro
Publisher : International Monetary Fund
Page : 56 pages
File Size : 51,8 Mb
Release : 2015-01-26
Category : Business & Economics
ISBN : 9781484308691

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IMF Lending and Banking Crises by Luca Papi,Andrea Presbitero,Alberto Zazzaro Pdf

This paper looks at the effects of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention is addressed by adopting an instrumental variable strategy and a propensity score matching estimator. Controlling for the standard determinants of banking crises, our results indicate that countries participating in IMF-supported lending programs are significantly less likely to experience a future banking crisis than nonborrowing countries. We also provide evidence suggesting that compliance with conditionality and loan size matter.

IMF Research Bulletin, December 2014

International Monetary Fund
IMF Research Bulletin December 2014 Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 17 pages
File Size : 50,5 Mb
Release : 2015-09-15
Category : Business & Economics
ISBN : 9781513556956

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IMF Research Bulletin, December 2014 by International Monetary Fund Pdf

The December 2015 IMF Research Bulletin features a sampling of key research from the IMF. The Research Summaries in this issue look at “The Impact of Deflation and Lowflation on Fiscal Aggregates (Nicolas End, Sampawende J.-A. Tapsoba, Gilbert Terrier, and Renaud Duplay); and “Oil Exporters at the Crossroads: It Is High Time to Diversify” (Reda Cherif and Fuad Hasanov). Mahvash Saeed Qureshi provides an overview of the fifth Lindau Meeting in Economics in “Meeting the Nobel Giants.” In the Q&A column on “Seven Questions on Financial Frictions and the Sources of the Business Cycle, Marzie Taheri Sanjani looks at the driving forces of the business cycle and macroeconomic models. The top-viewed articles in 2014 from the IMF Economic Review are highlighted, along with recent IMF Working Papers, Staff Discussion Notes, and IMF publications.