Front Matter

Front Matter

Author(s):
Yasemin Bal-Gunduz, Christian Ebeke, Burcu Hacibedel, Linda Kaltani, Vera Kehayova, Chris Lane, Christian Mumssen, Nkunde Mwase, and Joseph Thornton
Published Date:
October 2013
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    ©2013 International Monetary Fund

    Cover design: IMF Multimedia Services Division

    Cataloging-in-Publication Data Joint Bank-Fund Library

    The economic impact of IMF-supported programs in low-income countries / Yasemin Bal Gündüz … [et al.]. – Washington, D.C.: International Monetary Fund, 2013.

    p.: col. ill., col. map ; cm.

    Includes bibliographical references

    Occasional papers series ; no. 277

    1. International Monetary Fund – Developing countries. 2. Economic assistance – Developing countries. 3. Poverty – Developing countries. 4. Poverty – International cooperation. 5. Developing countries – Economic conditions. I. Bal-Gündüz, Yasemin. II. International Monetary Fund.

    HG3881.5.I58E26 2013

    ISBN: 978-1-48439-471-7 (print)

    ISBN: 978-1-47555-903-3 (ePub)

    ISBN: 978-1-48438-651-4 (Mobipocket)

    ISBN: 978-1-47553-701-7 (PDF)

    Disclaimer: The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.

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    Contents

    Preface

    This paper is based on studies that were conducted in 2012 and 2013 as part of the IMF’s review of its lending facilities aimed at low-income countries. The work was headed by Chris Lane and Christian Mumssen, with Yasemin Bal Gündüz, Christian Ebeke, and Linda Kaltani responsible for the econometric work and Joseph Thornton for much of the drafting. Burcu Hacibedel and Nkunde Mwase provided case studies, Vera Kehayova provided research assistance, and Merceditas San Pedro-Pribram finalized the text, figures, and tables. Hugh Bredenkamp provided overall supervision.

    The authors are indebted to Dane Rowlands and Graham Bird for their helpful thoughts on the econometrics, as well as to numerous members of Fund departments for their detailed comments on the paper. David Einhorn edited the paper; Joanne Johnson and Michael Harrup of the Communications Department coordinated publication; and Jeremy Mark of the same department offered valuable assistance to the authors in navigating the publication process. The paper also builds upon previous work by IMF staff members on the role of the institution in low-income countries.

    The opinions expressed in the paper are those of the authors, and do not necessarily reflect the views of national authorities, the IMF, or its Executive Directors.

    Acronyms

    CFF

    Compensatory Financing Facility

    CPIA

    Country Policy and Institutional Assessment

    ECF

    Extended Credit Facility

    EFF

    Extended Fund Facility

    ENDA

    Emergency Natural Disaster Assistance

    EPCA

    Emergency Post-Conflict Assistance

    ESAF

    Enhanced Structural Adjustment Facility

    ESF

    Exogenous Shocks Facility

    FDI

    foreign direct investment

    GEE

    Generalized Evaluation Estimator

    HAC

    High Access Component

    HIPC

    Heavily Indebted Poor Countries

    IEO

    Independent Evaluation Office

    IMF

    International Monetary Fund

    LICs

    low-income countries

    MDRI

    Multilateral Debt Relief Initiative

    ODA

    official development assistance

    PRGF

    Poverty Reduction and Growth Facility

    PRGT

    Poverty Reduction and Growth Trust

    PSI

    Policy Support Instrument

    PSM

    Propensity Score Matching

    RAC

    Rapid Access Component

    RCF

    Rapid Credit Facility

    SAF

    Structural Adjustment Facility

    SBA

    Stand-By Arrangement

    SCF

    Standby Credit Facility

    SDR

    Special Drawing Right

    STF

    Systemic Transformation Facility

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