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Africa > Uganda

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors x
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Cover IMF Working Papers
Evaluating the Impact of Non-Financial IMF Programs Using the Synthetic Control Method
Ms. Monique Newiak
and
Tim Willems
We use the Synthetic Control Method to study the effect of IMF advice on economic growth, inflation, and investment. The analysis exploits the existence of IMF programs that do not involve any financing (Policy Support Instruments, “PSIs”). This enables us to focus on the effects of IMF monitoring, advice, and approval (as opposed to direct financial assistance). In addition, countries with non-financial programs are typically not crisis-struck – thereby mitigating the reverse causality problem and facilitating the construction of counterfactuals. Results suggest that treated countries add about 1 percentage point in annual real GDP per capita growth, with inflation being lower by some 3 percentage points per year. While we do not find evidence for an impact on total investment and the resulting capital stock, PSI-treatment does seem to stimulate foreign direct investment.
Keywords:
WP; adverse selection; absolute value; International Monetary Fund; Program-evaluation; Economic growth; Inflation; Investment; IMF operations; IMF loan-participation rate; treatment effect; IMF's executive board; PSI review; traditional IMF program; structural adjustment; causal effect of IMF-program; effectiveness of IMF-program; adoption of an IMF-program; types of IMF-engagement; Stocks; Consumer price indexes; Sub-Saharan Africa
Cover Policy Papers
Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) - Status of Implementation
International Monetary Fund
This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.
Keywords:
PP; NPV terms; completion point; MDRI debt relief; enhanced HIPC Initiative; debt service; post-completion-point HIPCs; Debt relief; Debt service; Exports; Stocks; Debt sustainability; Africa
Cover Policy Papers
Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)- Status of Implementation
International Monetary Fund
This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.
Keywords:
PP; MDRI debt relief; NPV terms; enhanced HIPC Initiative; post-completion-point HIPCs; completion point; IMF staff estimate; long-term debt; post-decision-point HIPCs; MDRI assistance; Debt relief; Debt service; Exports; Stocks; Debt sustainability; Africa; West Africa