TY  - BOOK
AU  - Barro,Robert J.
AU  - Lee,Jong-Wha
ED  - National Bureau of Economic Research.
TI  - IMF Programs: Who is Chosen and What Are the Effects? 
T2  - NBER working paper series
PY  - 2002///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - May 2002; Hardcopy version available to institutional subscribers
N2  - IMF lending practices respond to economic conditions but are also sensitive to political-economy variables.  Specifically, the sizes and frequencies of loans are influenced by a country's presence at the Fund, as measured by the country's share of quotas and professional staff.  IMF lending is also sensitive to a country's political and economic proximity to some major shareholding countries of the IMF -- the United States, France, Germany, and the United Kingdom.  We measured political proximity by voting patterns in the United Nations and economic proximity by bilateral trading volumes.  These results are of considerable interest for their own sake but also provide instrumental variables for estimating the effects of IMF lending on economic performance.  Instrumental estimates indicate that the size of IMF lending is insignificantly related to economic growth in the contemporaneous five-year period but has a significantly negative effect in the subsequent five years
UR  - https://www.nber.org/papers/w8951
UR  - http://dx.doi.org/10.3386/w8951
ER  -