The revolving door: Duration and recidivism in IMF programs
成果类型：
Article
署名作者：
Conway, Patrick
署名单位：
University of North Carolina; University of North Carolina Chapel Hill
刊物名称：
REVIEW OF ECONOMICS AND STATISTICS
ISSN/ISSBN：
0034-6535
DOI：
10.1162/rest.89.2.205
发表日期：
2007-05
页码：
205-220
关键词：
摘要：
Quarterly evidence on participation in IMF programs for the period 1974-2003 is examined using the techniques of hazard analysis and error-correction estimation. Three hypotheses are proposed and tested. An increase in cumulative prior participation in IMF programs is found to cause a reduction on average in the length of a new spell of participation. The length of time between participation spells is reduced significantly with an increase in prior participation in IMF programs. Reserve adequacy is shown to be significantly and positively affected by participation in IMF programs. The results support a revolving door explanation of participation in IMF programs.
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