The Impact Of Imf Supported Programs On Fdi In Low Income Countries

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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 : 49,9 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.

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 : 47,8 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.

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 : 52,6 Mb
Release : 2018-12-13
Category : Business & Economics
ISBN : 9781484386149

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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.

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 : 44,9 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 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 : 52,6 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.

FDI Flows to Low-Income Countries

International Monetary Fund
FDI Flows to Low Income Countries Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 40 pages
File Size : 42,7 Mb
Release : 2010-06-01
Category : Business & Economics
ISBN : 9781455201150

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FDI Flows to Low-Income Countries by International Monetary Fund Pdf

What accounts for variations in FDI flows from advanced to developing countries? How have FDI inflows explained cross-country growth experiences? In this paper we tackle both these questions empirically for a large sample of middle and low-income countries. Two key results emerge: (i) lower borrowing costs and positive real-side external factors were increasingly important drivers of FDI outflows to low-income countries in the pre-crisis period; (ii) economic fundamentals, the strength of economic reforms, and commitment to macroeconomic discipline are crucial determinants of the growth dividends of FDI. Our paper suggests that low-income countries can turn to domestic policy solutions to mitigate the adverse effects of a potential decline in FDI in the post-crisis world.

Expenditure Conditionality in IMF-supported Programs

Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi
Expenditure Conditionality in IMF supported Programs Book PDF

Author : Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi
Publisher : International Monetary Fund
Page : 31 pages
File Size : 55,7 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9781484389072

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Expenditure Conditionality in IMF-supported Programs by Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi Pdf

This paper studies the impact of expenditure conditionality in IMF programs on the composition of public spending. A granular dataset on different government expenditure conditions covering 115 countries for the 1992-2016 period is compiled. The results support the view that while conditionality on specific elements of spending could help achieve a program’s short-term objectives, it is structural conditionality which delivers lasting benefits. Structural public financial management conditionality (such as on budget execution and control) has proven to be effective in boosting the long-term level of education, health, and public investment expenditures. The results further indicate that conditionality on raising such spending may come at the expense of other expenditures. Finally, the successful implementation (and not mere existence) of the conditionality is crucial for improved outcomes. These findings are relevant for policy makers targeting achievement of the Sustainable Development Goals (SDGs).

What Happens to Social Spending in IMF-Supported Programs?

Mr.Masahiro Nozaki,Mr.Benedict J. Clements,Mr.Sanjeev Gupta
What Happens to Social Spending in IMF Supported Programs Book PDF

Author : Mr.Masahiro Nozaki,Mr.Benedict J. Clements,Mr.Sanjeev Gupta
Publisher : International Monetary Fund
Page : 20 pages
File Size : 52,5 Mb
Release : 2011-08-31
Category : Business & Economics
ISBN : 9781463935146

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What Happens to Social Spending in IMF-Supported Programs? by Mr.Masahiro Nozaki,Mr.Benedict J. Clements,Mr.Sanjeev Gupta Pdf

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Review of Facilities for Low-Income Countries - Supplement 1

International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.
Review of Facilities for Low Income Countries Supplement 1 Book PDF

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept.
Publisher : International Monetary Fund
Page : 38 pages
File Size : 54,7 Mb
Release : 2012-07-26
Category : Business & Economics
ISBN : 9781498340168

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Review of Facilities for Low-Income Countries - Supplement 1 by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Finance Dept. Pdf

This supplement aims to assess the economic impact of the Fund’s support through its facilities for low-income countries (LICs). It relies on two complementary econometric analyses: the first investigates the longer-term impact of Fund engagement—primarily through successive medium-term programs under the Extended Credit Facility (ECF) and its predecessors (and more recently the Policy Support Instrument (PSI))—on economic growth and a range of other indicators and socio-economic outcomes; the second focuses on the role of IMF shock-related financing—through augmentations of ECF arrangements and short-term and emergency financing instruments—on short-term macroeconomic performance. The empirical results shed some light on two channels through which different Fund facilities may have helped LICs respond to the global financial crisis—(i) by supporting a gradual buildup of macroeconomic buffers in the decades prior to the crisis and (ii) by providing liquidity support at the height of the crisis. The combination of strong pre-crisis buffers and crisis financing allowed LICs to pursue counter-cyclical policy responses that preserved spending and facilitated a rapid recovery.

Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence

International Monetary Fund
Do IMF Supported Programs Work A Survey of the Cross Country Empirical Evidence Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 29 pages
File Size : 51,6 Mb
Release : 1998-12-01
Category : Business & Economics
ISBN : 9781451858310

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Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence by International Monetary Fund Pdf

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. These studies use a variety of methodologies and cover different country samples and time periods. This paper critically surveys the evidence yielded by the cross-country studies, paying special attention to the pros and cons of the respective empirical methodologies employed. These studies, particularly the more recent ones, conclude that IMF-supported programs have generally been successful in stabilizing the economy.

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 : 45,9 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.

Sudden Stops and IMF-Supported Programs

Barry J. Eichengreen,Poonam Gupta,Ashoka Mody
Sudden Stops and IMF Supported Programs Book PDF

Author : Barry J. Eichengreen,Poonam Gupta,Ashoka Mody
Publisher : International Monetary Fund
Page : 58 pages
File Size : 42,8 Mb
Release : 2006-04
Category : Business & Economics
ISBN : UCSD:31822034373514

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Sudden Stops and IMF-Supported Programs by Barry J. Eichengreen,Poonam Gupta,Ashoka Mody Pdf

Could a high-access, quick-disbursing "insurance facility" in the IMF help to reduce the incidence of sharp interruptions in capital flows ("sudden stops")? We contribute to the debate on this question by analyzing the impact of conventional IMF-supported programs on the incidence of sudden stops. Correcting for the non-random assignment of programs, we find that sudden stops are fewer and generally less severe when an IMF arrangement exists and that this form of "insurance" works best for countries with strong fundamentals. In contrast there is no evidence that a Fund-supported program attenuates the output effects of capital account reversals if these nonetheless occur.

Finance, Development, and the IMF

James M. Boughton,Domenico Lombardi
Finance Development and the IMF Book PDF

Author : James M. Boughton,Domenico Lombardi
Publisher : OUP Oxford
Page : 336 pages
File Size : 52,8 Mb
Release : 2009-06-25
Category : Business & Economics
ISBN : 9780199239863

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Finance, Development, and the IMF by James M. Boughton,Domenico Lombardi Pdf

An interdisciplinary collection of essays from leading academics and experts addressing how the IMF can support economic growth, poverty reduction, and macroeconomic stability in the world's poorest regions.

The Design of IMF-Supported Programs

Atish R. Ghosh
The Design of IMF Supported Programs Book PDF

Author : Atish R. Ghosh
Publisher : IMF
Page : 164 pages
File Size : 54,9 Mb
Release : 2005-09-20
Category : Business & Economics
ISBN : UCSC:32106018312014

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The Design of IMF-Supported Programs by Atish R. Ghosh Pdf

This publication contains a collection of papers which examine the design of IMF-supported programmes during the years 1995-2000 in both middle-income and low-income countries. The analysis covers objectives and outcomes, policy formulation and programme design, and experiences in relation to macroeconomic and structural policies.