Mr. Rabah Arezki, Mr. Marc G Quintyn, and Mr. Frederik G Toscani
This paper investigates the role that International Monetary Fund (IMF) programs and capacity building play in fostering structural reforms. To do so, we exploit two novel datasets on IMF capacity building and structural reforms available for over one hundred IMF member countries over the period 1980 - 2010. The main results are threefold. First, there is a general association between IMF programs and structural reforms but this relationship is not very robust. Second, IMF training leads to an increase in structural reforms but only through IMF programs and only when a significant share of public servants is trained. Third, IMF technical assistance does not significantly lead to more structural reforms but raises the likelihood of completion of ongoing IMF programs. Our results are robust to a large number of checks, estimators and correcting for endogeneity.
This volume presents 18 IMF research studies on the causes and consequences of corruption, as well as how it can most effectively be combated to improve governance, increase economic growth, and reduce poverty. The authors examine how civil service wages affect corruption, the impact of natural resource availability on corruption, the impact of corruption on a country’s income distribution and incidence of poverty, and the effect of corruption on government expenditures on health and education.
This chapter provides various IMF staff’s concluding remarks of completion of Article IV Consultation with different countries. The IMF holds bilateral consultations under Article IV of its Articles of Agreement with all its member countries, in most cases every year. As part of these consultations, an IMF staff team visits a country to discuss with officials economic developments and the monetary, fiscal, and structural policies that the authorities are following. On its return to IMF headquarters, the team prepares a report analyzing the economic situation and evaluating the stance of policies. That report is then discussed by the Executive Board. At the end of the discussion, the Chairman of the Board summarizes the views expressed by Executive Directors during the meeting. This summing up is transmitted to the country's authorities. In April 1997, Directors agreed to issue, at the request of a member country, the Board's summing up, supplemented by a short account of significant macroeconomic and structural developments at the time of the consultation. In May 1998, the Board decided to have Press Information Notices compiled and published every four months. At the same time, the selection of Article IV consultation summaries was eliminated from the 1998 Annual Report.