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The effect of IMF programs on economic growth

机译:国际货币基金组织计划对经济增长的影响

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摘要

Using a bivariate, dynamic version of the Heckman selection model, we estimate the effect of participation in International Monetary Fund (IMF) programs on economic growth. We find evidence that governments enter into agreements with the IMF under the pressures of a foreign reserves crisis but they also bring in the Fund to shield themselves from the political costs of adjustment policies. Program participation lowers growth rates for as long as countries remain under a program. Once countries leavethe program, they grow faster than if they had remained, but not faster than they would have without participation.
机译:使用一分匹配,动态版本的Heckman选择模型,我们估计了参与国际货币基金组织(IMF)计划对经济增长的影响。 我们发现有证据表明,政府根据外国储备危机的压力进入国际货币基金组织协议,但他们还将基金带入保护本身免于调整政策的政治费用。 只要国家仍在计划下,计划参与降低了增长率。 一旦国家联系计划,他们会比他们留下的速度更快,但不是比他们在没有参与的那样快。

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