Helge Berger

Jakob de Haan

Jan-Egbert Sturm

English

Research Papers in Economics

15 There is evidence suggesting that the degree to which countries vote in line with the US in the General Assembly of the United Nations (UN) might affect the chance that a country will receive IMF credit (Thacker,

17 Sala-i-Martin (1997a) proposes using the (integrated) likelihood to construct a weighted CDF(0). However, the varying number of observations in the regressions due to missing observations in some of the variables poses a problem. Sturm and De Haan

1997a, I just ran four millions regressions. Mimeo,

1997b, I just ran two millions regressions.

20 Focusing on the fraction of a year within six months around election dates Dreher

4 An exception is Rowlands

5 There is another line of literature that examines the impact of IMF adjustment programs; see Bird

7 As far as we know, only four studies [Knight and Santaella

8 Sometimes GDP is used as scaling factor [see, for instance, Vreeland

A heteroskedasticity-consistent covariance matrix estimator and direct test for heteroskedasticity.

A public choice approach to international organizations.

Appendix A1: Summary of studies since

Appendix A2. List of variables and their sources Variable: Sign: Description: Source: DUMIMFCRED Dummy equal to one if &quot;Use of IMF credit (DOD, current US$)&quot; is larger than zero World Bank

Bank insolvencies: Cross-country experience, World Bank Policy Research Working Paper,

Can we explain the pattern of IMF lending?,

Central bank independence: An update of theory and evidence.

Commercial banks and the International Monetary Fund: An empirical analysis, mimeo,

Conditionality and ownership in IMF lending: A political economy approach, paper presented at the 2 nd IMF Research Conference.

Determinants of long-term growth: New results applying robust estimation and Extreme Bounds Analysis. Empirical Economics, forthcoming.

Devaluation controversies in the developing countries: lessons from the Bretton Woods era,

Does the IMF cause moral hazard and political business cycles? Evidence from panel data.

Economic determinants of IMF financial arrangements.

External conditionality, local ownership, and development,

Growth regressions and what the textbooks don’t tell you.

How robust is Sala-i-Martin’s robustness analysis,

IMF lending programs: Participation and impact.

IMF lending to developing countries. Issues and evidence (Routledge,

IMF lending: How is it affected by economic, political, and institutional factors.

IMF programs: Do they work? Can they be made to work Better?

IMF Programs: Who is chosen and what are the effects?,

Institutional determinants of IMF agreements,

Let’s take the con out of econometrics.

Model for amount of credit (in SDR), 1986-98 (standby and extended fund facility) GNP External debt/GDP Current account/GDP Current account/reserves External Debt/Exports Reserves/Imports

Optimal currency crisis,

Political and economic determinants of IMF conditional credit agreements: 1973-1989,

Political determinants of IMF balance of payments lending: The curse of carabosse?, mimeo,

Political economy influences within the life-cycle of IMF programmes.

The adoption, implementation and impact of IMF programs: A review of the issues and evidence.

The economic characteristics of IMF program countries.

The effect of IMF programs on economic growth.

The expected sign is shown in parentheses. See main text for further explanation. A 1 following the variable indicates the first lag of the variable concerned. 33 Appendix A3. Descriptive statistics Variable Mean St.Dev. Min Max #Obs #Cnt Start End

The high politics of IMF lending.

The IMF approach to economic stabilization,

The influence of IMF programs on the re-election of debtor governments.

The political economy of central-bank independence.

Understanding the IMF debate.

What determines the implementation of IMF-supported programs?,

What explains the success or failure of structural adjustment programmes?

Which Variables Explain Decisions on IMF Credit? An Extreme Bounds Analysis 

http://www.twi-kreuzlingen.ch/uploads/tx_cal/media/TWI-RPS-013-Berger-Haan-Sturm-2005-07.pdf

Which Variables Explain Decisions on IMF Credit? An Extreme Bounds Analysis

Abstract

Similar works

Full text

Available Versions

Research Papers in Economics