Dicks-Mireaux, Louis
[Verfasser:in]
;
Mecagni, Mauro
[Sonstige Person, Familie und Körperschaft];
Schadler, Susan
[Sonstige Person, Familie und Körperschaft]
The Macroeconomic Effects of Esaf-Supported Programs
Erschienen in:IMF Working Paper, Vol. , pp. 1-42, 1995
Umfang:
1 Online-Ressource (42 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.883239
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 1995 erstellt
Beschreibung:
This paper examines whether ESAF-supported programs during 1986-91 had significant independent effects on growth, inflation and the external debt service ratio. Econometric estimates of the Generalized Evaluation Estimator (GEE) identify statistically significant beneficial effects on output growth and the debt service ratio but no effects on inflation. The robustness of these estimates is also examined. Diagnostic tests cast doubt on the applicability of the GEE framework to the ESAF-eligible countries, and the results obtained using it