Do Imf-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence

28 Pages Posted: 15 Feb 2006

See all articles by Nadeem Ul Haque

Nadeem Ul Haque

Pakistan Institute of Development Economics

Mohsin S. Khan

International Monetary Fund (IMF)

Date Written: December 1998

Abstract

Over the last two decades a number of cross-country empirical studies have been undertaken to assess whether IMF-supported adjustment programs have led to an improved balance of payments and current account balance, lower inflation, and higher growth. These studies use a variety of methodologies and cover different country samples and time periods. This paper critically surveys the evidence yielded by the cross-country studies, paying special attention to the pros and cons of the respective empirical methodologies employed. These studies, particularly the more recent ones, conclude that IMF-supported programs have generally been successful in stabilizing the economy.

Keywords: IMF programs, cross-country studies, program evaluation

JEL Classification: E63, F34, F41, O19

Suggested Citation

Ul Haque, Nadeem and Khan, Mohsin S., Do Imf-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence (December 1998). IMF Working Paper No. 98/169, Available at SSRN: https://ssrn.com/abstract=883056

Nadeem Ul Haque (Contact Author)

Pakistan Institute of Development Economics ( email )

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Islamabad, Capital 44000
Pakistan
+92-51-9217879 (Phone)
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Mohsin S. Khan

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-4518 (Phone)
202-623-6440 (Fax)

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