 IMF programs and economic growth: A meta-analysisHippolyte Balima and Anna Sokolova Journal of Development Economics, 2021, vol. 153, issue C Abstract: We examine 994 estimates of the effects of IMF programs on economic growth as reported by 36 studies. The mean reported effect is positive, but the estimates vary widely. We use meta-regression analysis to disentangle sources of this variation, addressing model uncertainty with Bayesian Model Averaging and LASSO. We find that estimates vary systematically depending on data and methods employed by the researchers. Reported effects of IMF programs tend to be more positive for samples that include countries with high levels of institutional and economic development, when measured on longer horizons or obtained with the propensity score matching technique. Estimates appear to depend on the types of IMF programs being considered, as general resource programs tend to result in less favorable growth outcomes compared to programs that lend from concessional resources. Estimates tend to be lower when the underlying data includes more programs from the 1980s. Authors with IMF affiliation tend to report estimates that are somewhat higher than those of outside researchers. Keywords: IMF programs; Economic growth; Meta-analysis; Bayesian model averaging (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:deveco:v:153:y:2021:i:c:s0304387821001103 DOI: 10.1016/j.jdeveco.2021.102741 Access Statistics for this article Journal of Development Economics is currently edited by M. R. Rosenzweig More articles in Journal of Development Economics from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.