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Europe > Montenegro

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • IMF Working Papers x
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Cover IMF Working Papers
Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition
Zsoka Koczan
In this paper we analyze how Western Balkans public finances adapted to the boom-bust cycle. Large capital inflows into emerging European economies during the mid-2000s resulted in rapid economic growth and convergence to EU income levels. This also resulted in improved fiscal positions of most countries, on the back of strong revenue performance. Yet, since the onset of the global economic crisis, many countries have struggled to adjust to the new situation of lower external financing and lower growth.
Keywords:
WP; debt; government; country
Cover IMF Working Papers
Do IMF Programs Improve Economic Governance?
Mr. Jiro Honda
This paper examines the effects of IMF financial assistance on economic governance in developing countries, based on panel data analyses of perceived governance indicators. It uses a two-stage approach to address possible endogeneity issues. The results show that successful implementation of IMF programs is associated with improvements in the quality of economic governance. Specifically, the paper finds statistically robust results that IMF concessional programs through the Poverty Reduction and Growth Facility tend to enhance the rule of law and strengthen control of corruption. Through this exercise, however, no statistically significant effect is observed for assistances under the General Resource Account.
Keywords:
WP; governance; IMF program; IMF assistance