Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable?

Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable?
Author :
Publisher : International Monetary Fund
Total Pages : 46
Release :
ISBN-10 : 9781451845716
ISBN-13 : 1451845715
Rating : 4/5 (16 Downloads)

Book Synopsis Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable? by : Soojin Moon

Download or read book Do IMF-Supported Programs Help Make Fiscal Adjustment More Durable? written by Soojin Moon and published by International Monetary Fund. This book was released on 2003-02-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates fiscal developments in 112 countries during the 1990s. It finds that, while the overall fiscal balance improved in most of them, the composition of this improvement differed. In nonprogram countries, revenues increased modestly and expenditure declined sharply, while in program countries both revenue and expenditure declined. However, in countries with programs that included structural conditions the adjustment was effected primarily through sharp expenditure compression. We did not find evidence of a statistically significant impact of IMF conditionality. Morever, fiscal improvements are strongly influenced by cyclical factors


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