South African Journal of Economic and Management Sciences
On-line version ISSN 1015-8812
OZTURK, Ilhan. Evaluating the macroeconomic impacts of IMF programmes in Latin America, 1975-2004: A GEE analysis. S. Afr. j. econ. manag. sci. [online]. 2008, vol.11, n.2, pp. 190-202. ISSN 1015-8812.
Using panel data for 21 Latin American countries over the period 1975-2004, this paper analyses 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.