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Economic research - Ekonomska istraživanja, Vol. 22 No. 1, 2009.

Original scientific paper

ON THE CAUSALITY BETWEEN IMF CREDITS AND MACROECONOMIC INDICATORS: EVIDENCE FROM DEVELOPING COUNTRIES, 1975-2004

Ilhan Ozturk

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Abstract

Using panel data for 88 developing countries over the period 1975-2004, this paper analyzes the way of causality between selected ten macroeconomic variables and IMF credits. The causality has been found between IMF credits and macroeconomic indicators in eight out of ten cases in the study. Consequently, overall, it can be said that IMF credits (or IMF stabilization programs) are worsening the macroeconomic performance of developing countries rather than improving their economic problems.

Keywords

IMF; Developing countries; Panel Unit Roots; Granger Causality

Hrčak ID:

38194

URI

https://hrcak.srce.hr/38194

Publication date:

15.3.2009.

Article data in other languages: croatian

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