@techreport{Joyce2001Time,
abstract = {The programs of the International Monetary Fund were originally designed to provide short-term
assistance to countries implementing policies to address balance of payments disequilibria. In
recent decades, however, the Fund has instituted new facilities with longer time horizons, while
many developing countries have adopted consecutive programs. As a result, the length of time
spent by countries in IMF programs has grown, and in some cases has extended over a decade.
This paper analyzes the IMF program spells for a group of emerging economies over the period
of 1982 to 1997. Duration models are used to investigate the time dependence of the failure rate
of the spells and the factors that affect the duration of program spells. The hazard ratio of
program spells has a non-monotonic shape, first rising and then falling over time. Program
duration is extended for those countries with lower per-capita income, exports concentrated in
primary goods, landlocked geographic status, and stable legal processes.},
author = {Joseph P. Joyce},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F3; 330; Internationaler Kredit; Anpassungsprogramm des IWF; Dauer; Entwicklungsl\"{a}nder},
language = {eng},
number = {2001,01},
title = {Time present and time past : a duration analysis of IMF program spells},
type = {Working Papers / Wellesley College, Department of Economics},
url = {http://hdl.handle.net/10419/23224},
year = {2001}
}
