The Macroeconomic Effects of Fund-Supported Adjustment Programs: An Empirical Assessment

40 Pages Posted: 15 Feb 2006

See all articles by Mohsin S. Khan

Mohsin S. Khan

International Monetary Fund (IMF)

Date Written: December 23, 1988

Abstract

This paper reviews the existing evidence on the macroeconomic effects of Fund-supported adjustment programs, and provides new estimates of these effects for 67 developing countries with programs during 1973-86. The empirical analysis indicates that in the short run programs have led to an improvement in the current account, the balance of payments, and inflation, but this was accompanied by a decline in the growth rate. In the longer run the positive effects of programs on the external balance and inflation are strengthened, and the adverse growth effects reduced. These results are more definitive than those from previous studies.

JEL Classification: 1331, 2120

Suggested Citation

Khan, Mohsin S., The Macroeconomic Effects of Fund-Supported Adjustment Programs: An Empirical Assessment (December 23, 1988). IMF Working Paper No. 88/113. Available at SSRN: https://ssrn.com/abstract=885138

Mohsin S. Khan (Contact Author)

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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