IMF Conditionality and Private Credit Development in Developing Countries: The Role of Program Intensity and Composition
by Mahmoud Tarek Zaki Abstract This thesis investigates whether the composition of IMF binding conditionality matters more than its overall intensity for domestic private credit in developing countries. Using a panel of 115 countries from 1990 to 2019 and a three-equation instrumental-variables framework, the analysis disaggregates binding conditionality into prior actions, quantitative performance criteria, and […]
