IDEAS home Printed from https://ideas.repec.org/a/pal/imfstp/v45y1998i4p595-618.html
   My bibliography  Save this article

Countries' Repayment Performance Vis-Ã -Vis the IMF: An Empirical Analysis

Author

Listed:
  • Lynn Aylward

    (International Monetary Fund)

  • Rupert Thorne

    (International Monetary Fund)

Abstract

While the literature on external debt repayment performance by sovereign debtors is extensive, repayment performance vis-Ã -vis the International Monetary Fund has not been dealt with separately. Given differences between the IMF and other providers of financial resources, this paper considers whether it is possible to distinguish through logit analysis between the countries that make timely repayments to the Fund and those that become overdue. The paper finds that the inclusion of IMF-specific financial variables and a small number of macroeconomic variables yields a highly significant econometric model of the probability of a country incurring IMF arrears.

Suggested Citation

  • Lynn Aylward & Rupert Thorne, 1998. "Countries' Repayment Performance Vis-Ã -Vis the IMF: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 45(4), pages 595-618, December.
    • Handle: RePEc:pal:imfstp:v:45:y:1998:i:4:p:595-618
    as

    Download full text from publisher

    File URL: http://www.jstor.org/stable/3867586?origin=pubexport
    File Function: main text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lynn Aylward, 1999. "Countries' Repayment Performance Vis-à-Vis the IMF: A Response to Bäcker," IMF Staff Papers, Palgrave Macmillan, vol. 46(2), pages 1-7.
    2. Liu, Ailan & Wang, Zhixuan & Wang, Ping, 2024. "Official or unofficial? extreme bounds analysis on the determinants of sovereign default," The North American Journal of Economics and Finance, Elsevier, vol. 72(C).
    3. Enrique G. Mendoza & Vivian Z. Yue, 2012. "A General Equilibrium Model of Sovereign Default and Business Cycles," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(2), pages 889-946.
    4. Paresh Kumar Narayan & Russell Smyth, 2007. "The Military Expenditure-External Debt Nexus: New Evidence From A Panel Of Middle Eastern Countries," Monash Economics Working Papers 17-07, Monash University, Department of Economics.
    5. Olivier Jeanne & Jeromin Zettelmeyer, 2001. "International bailouts, moral hazard and conditionality," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 16(33), pages 408-432.
    6. Aart Kraay & Vikram Nehru, 2006. "When Is External Debt Sustainable?," The World Bank Economic Review, World Bank, vol. 20(3), pages 341-365.
    7. Martin Iseringhausen & Ms. Mwanza Nkusu & Wellian Wiranto, 2019. "Repeated Use of IMF-Supported Programs: Determinants and Forecasting," IMF Working Papers 2019/245, International Monetary Fund.
    8. Perazzi, Elena, 2020. "Sovereign Bailouts and Moral Hazard with Strategic Default," MPRA Paper 101949, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:imfstp:v:45:y:1998:i:4:p:595-618. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.