English, Article edition: IMF Programmes in Emerging Countries Ayş e Y Evrensel

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Physical Description
  • article
Language
  • English

Edition details

Title
  • IMF Programmes in Emerging Countries
Author
  • Ay&​scedil
  • e Y Evrensel
Physical Description
  • article
Notes
  • 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
  • RePEc:pal:compes:v:47:y:2005:i:1:p:4-22
Language
  • English
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