The Contribution of the IMF and the World Bank to Economic Freedom

35 Pages Posted: 5 Dec 2002

See all articles by Bernhard Boockmann

Bernhard Boockmann

ZEW – Leibniz Centre for European Economic Research; Institute for Applied Economic Research (IAW); IZA Institute of Labor Economics

Axel Dreher

Heidelberg University

Date Written: March 15, 2002

Abstract

We analyse the effect of IMF and World Bank policies on the composite index of economic freedom by Gwartney et al. (2000) as well as its sub-indexes, using a panel of 85 countries observed between 1970 and 1997. With respect to the Bank, we find that the number of projects has a positive impact on overall economic freedom, while the effect of the amount of World Bank credits is negative. These effects are stronger during the 1990s than in earlier periods. There is no clear relationship between credits and programs of the IMF and economic freedom.

Keywords: Economic freedom, IMF, World Bank, structural adjustment policies

JEL Classification: F33, F34, O57

Suggested Citation

Boockmann, Bernhard and Dreher, Axel, The Contribution of the IMF and the World Bank to Economic Freedom (March 15, 2002). ZEW Discussion Paper No. 02-18, Available at SSRN: https://ssrn.com/abstract=320984 or http://dx.doi.org/10.2139/ssrn.320984

Bernhard Boockmann (Contact Author)

ZEW – Leibniz Centre for European Economic Research ( email )

P.O. Box 10 34 43
L 7,1 D-68161 Mannheim
Germany
+621 1235 156 (Phone)
+621 1235 225 (Fax)

Institute for Applied Economic Research (IAW) ( email )

Ob dem Himmelreich 1
Tubingen, 72074
Germany

HOME PAGE: http://www.iaw.edu

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Axel Dreher

Heidelberg University ( email )

Grabengasse 1
Heidelberg, 69117
Germany

HOME PAGE: http://www.axel-dreher.de

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