Juraj Dobrila University of Pula, Department of Economics and Tourism \u27Dr. Mijo Mirkovic\u27
Abstract
Using panel data for 88 developing countries over the period 1975-2004, this paper analyzes the way of causality between selected ten macroeconomic variables and IMF credits. The causality has been found between IMF credits and macroeconomic indicators in eight out of ten cases in the study. Consequently, overall, it can be said that IMF credits (or IMF stabilization programs) are worsening the macroeconomic performance of developing countries rather than improving their economic problems.Koristeći panel podatke 88 zemalja u razvoju u periodu od 1975. do 2004., rad analizira kauzalnost između deset odabranih makroekonomskih varijabli i kredita MMF-a. Kauzalnost MMF-ovih kredita i makroekonomskih indikatora je pronađena u osam od deset slučajeva obuhvaćenih istraživanjem. Stoga se može zaključiti da krediti MMF-a (ili MMF-ovi stabilizacijski programi) više pogoršavaju makroekonomske performanse zemalja u razvoju nego što umanjuju njihove ekonomske probleme
