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IMF Programmes in Emerging Countries

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  • Ayşe Y Evrensel

    (Department of Economics, Portland State University, Portland, OR 97006-0751, USA.)

Abstract

This paper provides an empirical analysis of IMF-supported stabilization programmes in 19 emerging countries during the period 1971–1997. The results of the empirical analysis suggest the following. First, compared to nonprogramme countries, emerging programme countries have been engaged in macroeconomic policies that would lead to balance of payments crises. Second, results regarding programme participation show that emerging program countries have been involved in IMF programmes recurrently. Third, these countries' macroeconomic policies have not been improved significantly even during programme years. Fourth, as countries receive subsequent programmes, they seem to implement increasingly inconsistent macroeconomic policies during interprogramme years, which may imply moral hazard. Comparative Economic Studies (2005) 47, 4–22. doi:10.1057/palgrave.ces.8100053

Suggested Citation

  • Ayşe Y Evrensel, 2005. "IMF Programmes in Emerging Countries," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 47(1), pages 4-22, March.
    • Handle: RePEc:pal:compes:v:47:y:2005:i:1:p:4-22
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    Cited by:

    1. Andrea F. Presbitero & Alberto Zazzaro, 2010. "IMF Lending in Low- and Middle-Income Countries in the Wake of the Global Crisis," Development Working Papers 305, Centro Studi Luca d'Agliano, University of Milano.
    2. Mr. Atish R. Ghosh & Mr. Juan Zalduendo & Ms. Manuela Goretti & Mr. Bikas Joshi & Mr. Alun H. Thomas, 2007. "Modeling Aggregate Use of Fund Resources—Analytical Approaches and Medium-Term Projections," IMF Working Papers 2007/070, International Monetary Fund.
    3. Graham Bird, 2007. "The Imf: A Bird'S Eye View Of Its Role And Operations," Journal of Economic Surveys, Wiley Blackwell, vol. 21(4), pages 683-745, September.
    4. Panchyshyn, Stepan & Hrabynska, Iryna, 2018. "About Spells And Recidivism Of The Transition Economies’ Participation In Imf Programs," EUREKA: Social and Humanities, Scientific Route OÜ, issue 5, pages 36-46.
    5. Presbitero, Andrea F. & Zazzaro, Alberto, 2012. "IMF Lending in Times of Crisis: Political Influences and Crisis Prevention," World Development, Elsevier, vol. 40(10), pages 1944-1969.

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