Arbeitspapier
On the Conditional Effects of IMF Loan Program Participation on Output Growth
The empirical evidence currently available in the literature regarding the effects of a country's IMF program participation on its output growth is rather inconclusive. In this paper we propose and estimate a panel data sample selection model featuring state dependence. As in this model the output growth effects of program participation can be conditional on the realization of a state variable (conditional pooling), our framework may reconcile previous empirical evidence based on models without state-dependent effects. We find that the effects of IMF program participation on output growth vary systematically with an index reflecting a country's institutional record, and that output growth effects of program participation are significantly positive only if the program participation is coupled with sufficient improvement of the institutional record.
- Language
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Englisch
- Bibliographic citation
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Series: IMFS Working Paper Series ; No. 78
- Classification
-
Wirtschaft
Macroeconomic Analyses of Economic Development
International Linkages to Development; Role of International Organizations
Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
- Subject
-
Conditional Pooling
IMF Program Participation
Output Growth
Panel Sample Selection Models
- Event
-
Geistige Schöpfung
- (who)
-
Binder, Michael
Bluhm, Marcel
- Event
-
Veröffentlichung
- (who)
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Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS)
- (where)
-
Frankfurt a. M.
- (when)
-
2014
- Handle
- URN
-
urn:nbn:de:hebis:30:3-343188
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Binder, Michael
- Bluhm, Marcel
- Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS)
Time of origin
- 2014
Other Objects (12)
On the conditional effects of IMF loan program participation on output growth
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Selection Bias and the Output Costs of IMF Programs
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On the conditional effects of IMF program participation on output growth
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On the loan trail
Conditional cooperation on three continents
Essays on conditional correlation modeling
On Testing Conditional Moment Restrictions
Essays on marketability of loans
Selection Bias and the Output Costs of IMF Programs
On the Properties of Conditional Independence
A Note on "A Connexive Conditional"
On the conditional effects of IMF loan program participation on output growth
On the conditional effects of IMF program participation on output growth
Graduation Incentives Through Conditional Student Loan Forgiveness
On Conditional Density Estimation
On the loan trail
Conditional cooperation on three continents
Essays on conditional correlation modeling
On Testing Conditional Moment Restrictions
Essays on marketability of loans
Selection Bias and the Output Costs of IMF Programs
On the Properties of Conditional Independence