Compliance with IMF Program Indicators and Growth in Transition Economies

Anna Unigovskaya and Valerie Mercer-Blackman

No 2000/047, IMF Working Papers from International Monetary Fund

Abstract: This paper makes use of the IMF’s Database for Monitoring Fund Arrangements (MONA) to investigate whether transition countries that more successfully implement the conditionality of IMF programs tend to show a better performance on recovery and growth. It is not possible to determine a clear-cut relationship between the index that determines the level of compliance with structural benchmarks in IMF programs and growth. However, the paper finds a definite, positive relationship between the index of compliance with performance criteria and growth, even after controlling for the extent of stabilization of the transition countries.

Keywords: WP; Fund program; country; transition economy; performance criteria; structural benchmark; transition and growth; initial conditions; fund arrangement; transition country; Fund conditionality; Multilateral development institutions; Baltics; Central and Eastern Europe; Europe (search for similar items in EconPapers)
Pages: 28
Date: 2000-03-01
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Citations: View citations in EconPapers (21)

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