Evaluating the macroeconomic ımpacts of IMF programmes in Latin America, 1975-2004: a GEE analysis

Ilhan Ozturk

Abstract


Using panel data for 21 Latin Americancountries over the period 1975–2004, this paper analyzes macroeconomic effects of IMF programmes by using GEE methodology. In line with the results of previous studies, it is shown that these programmes have positive effects on the balance of payments, current account and investment. However, they negatively affect budget deficit, per capita GDP, FDI, inflation and consumption.

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DOI: http://dx.doi.org/10.4102/sajems.v11i2.308

Submitted: 27 September 2011
Published: 28 September 2011


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South African Journal of Economic and Management Sciences    |    ISSN: 1015-8812 (PRINT)    |    ISSN: 2222-3436 (ONLINE)