Social Spending in IMF-supported Programs
Ricardo Martin and
Alex Segura-Ubiergo ()
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Ricardo Martin: World Bank
Public Economics from University Library of Munich, Germany
This paper analyzes the impact of IMF-supported programs on health and education spending in a large time-series cross-section sample of countries. Using an ARIMA model to model time dynamics and instrumental variables to correct for the well-known endogeneity of IMF-supported programs, the paper finds, contrary to the conventional wisdom, that health and education do not decline in the presence of an IMF-supported program. However, this does not necessarily mean that the poor are protected from the costs of economic adjustment.
Keywords: social spending; IMF-supported programs; health; education (search for similar items in EconPapers)
JEL-codes: D6 D7 H (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwppe:0504011
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