IDEAS home Printed from https://ideas.repec.org/a/tpr/restat/v89y2007i2p205-220.html
   My bibliography  Save this article

The Revolving Door: Duration and Recidivism in IMF Programs

Author

Listed:
  • Patrick Conway

    (University of North Carolina at Chapel Hill)

Abstract

Quarterly evidence on participation in IMF programs for the period 1974-2003 is examined using the techniques of hazard analysis and error-correction estimation. Three hypotheses are proposed and tested. An increase in cumulative prior participation in IMF programs is found to cause a reduction on average in the length of a new spell of participation. The length of time between participation spells is reduced significantly with an increase in prior participation in IMF programs. Reserve adequacy is shown to be significantly and positively affected by participation in IMF programs. The results support a "revolving door" explanation of participation in IMF programs. Copyright by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

Suggested Citation

  • Patrick Conway, 2007. "The Revolving Door: Duration and Recidivism in IMF Programs," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 205-220, May.
    • Handle: RePEc:tpr:restat:v:89:y:2007:i:2:p:205-220
    as

    Download full text from publisher

    File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/rest.89.2.205
    File Function: link to full 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. Krahnke, Tobias, 2020. "Doing more with less: The catalytic function of IMF lending and the role of program size," Discussion Papers 18/2020, Deutsche Bundesbank.
    2. Christoph Moser & Jan-Egbert Sturm, 2011. "Explaining IMF lending decisions after the Cold War," The Review of International Organizations, Springer, vol. 6(3), pages 307-340, September.
    3. Axel Dreher & Matthew Gould & Matthew Rablen & James Vreeland, 2014. "The determinants of election to the United Nations Security Council," Public Choice, Springer, vol. 158(1), pages 51-83, January.
    4. Bal Gündüz, Yasemin, 2016. "The Economic Impact of Short-term IMF Engagement in Low-Income Countries," World Development, Elsevier, vol. 87(C), pages 30-49.
    5. Fink, Fabian & Scholl, Almuth, 2016. "A quantitative model of sovereign debt, bailouts and conditionality," Journal of International Economics, Elsevier, vol. 98(C), pages 176-190.
    6. Stephen C. Nelson & Geoffrey P. R. Wallace, 2017. "Are IMF lending programs good or bad for democracy?," The Review of International Organizations, Springer, vol. 12(4), pages 523-558, December.
    7. Howard Stein, 2009. "A Brief History of Aid in East Africa: The Political Economy of Convergence," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 10(04), pages 13-22, January.
    8. 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.
    9. Scheubel, Beatrice & Tafuro, Andrea & Vonessen, Benjamin, 2018. "Stigma? What stigma? A contribution to the debate on financial market effects of IMF lending," Working Paper Series 2198, European Central Bank.
    10. 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.
    11. Michael Breen & Robert Gillanders, 2015. "Political Trust, Corruption, and Ratings of the IMF and the World Bank," International Interactions, Taylor & Francis Journals, vol. 41(2), pages 337-364, March.
    12. Howard Stein, 2009. "A Brief History of Aid in East Africa: The Political Economy of Convergence," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 10(4), pages 13-22, January.
    13. Dreher, Axel & Walter, Stefanie, 2010. "Does the IMF Help or Hurt? The Effect of IMF Programs on the Likelihood and Outcome of Currency Crises," World Development, Elsevier, vol. 38(1), pages 1-18, January.
    14. Beatrice D. Scheubel & Andrea Tafuro & Benjamin Vonessen, 2018. "STIGMA? WHAT STIGMA? A Contribution to the Debate on the Effectiveness of IMF Lending," CESifo Working Paper Series 7036, CESifo.

    More about this item

    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:tpr:restat:v:89:y:2007:i:2:p:205-220. 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: Kelly McDougall (email available below). General contact details of provider: https://direct.mit.edu/journals .

    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.