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Do IMF Programs Improve Economic Governance?
Author:
Mr. Jiro Honda
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Series:
IMF Working Papers
Volume/Issue:
Volume 2008: Issue 114
Language:
English
Publication Date:
01 May 2008
DOI:
https://doi.org/10.5089/9781451869743.001
ISBN:
9781451869743
ISSN:
1018-5941
Pages:
32
Keywords:
WP; governance; IMF program; IMF assistance
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund