How Have IMF Priorities Evolved? A Text Mining Approach

32 Pages Posted: 4 Feb 2022

See all articles by Gareth Anderson

Gareth Anderson

International Monetary Fund (IMF)

Paolo Galang

International Monetary Fund (IMF)

Andrea Gamba

International Monetary Fund (IMF)

Leandro Medina

George Washington University - Department of Economics; International Monetary Fund (IMF) - Western Hemisphere Department

Tianxiao Zheng

International Monetary Fund (IMF)

Date Written: June 1, 2021

Abstract

This paper assess how priorities of the IMF’s membership have evolved over the past two decades, by using text mining techniques on a unique dataset combining IMFC communiqués and constituency statements. Our results reveal significant variation in priorities across time and constituencies. Statements can be characterized by the weight which they place on three key priorities: (i) growth; (ii) debt and development; and (iii) crisis management and quota reform. Sentiment analysis techniques also show that addressing climate change is a topic which is viewed positively by an increasing number of constituencies.

Keywords: IMFC communiqué, constituency statement, IMF priority, constituency cluster, sentiment analysis technique, Climate change, Mining sector, Global financial crisis of 2008-2009, Crisis management, Global

JEL Classification: F31, E26, Q54, L70, G01, H12

Suggested Citation

Anderson, Gareth and Galang, Paolo and Gamba, Andrea and Medina, Leandro and Zheng, Tianxiao, How Have IMF Priorities Evolved? A Text Mining Approach (June 1, 2021). IMF Working Paper No. 2021/159, Available at SSRN: https://ssrn.com/abstract=4026336

Gareth Anderson (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Paolo Galang

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Andrea Gamba

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Leandro Medina

George Washington University - Department of Economics ( email )

Monroe Hall, Suite 340
2115 G Street, NW
Washington, DC 20052
United States

International Monetary Fund (IMF) - Western Hemisphere Department ( email )

700 19th Street NW
Washington, DC 20431
United States

Tianxiao Zheng

International Monetary Fund (IMF) ( email )

Kuwait

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