메뉴 건너뛰기




Volumn 5, Issue 1, 2010, Pages 73-95

The effects of IMF programs on U.S. foreign direct investment in the developing world

Author keywords

Catalytic finance; Developing World; EFF; IMF; PRGF; SBA; U.S. Foreign Direct Investment

Indexed keywords


EID: 77949290643     PISSN: 15597431     EISSN: None     Source Type: Journal    
DOI: 10.1007/s11558-009-9071-8     Document Type: Article
Times cited : (34)

References (88)
  • 1
    • 85050727088 scopus 로고    scopus 로고
    • Political capacity, macroeconomic factors, and capital flows
    • M. Arbetman and J. Kugler (Eds.), Boulder: Westview
    • Adji, S. S., et al. (1997). Political capacity, macroeconomic factors, and capital flows. In M. Arbetman & J. Kugler (Eds.), Political capacity and economic behavior (pp. 127-148). Boulder: Westview.
    • (1997) Political Capacity and Economic Behavior , pp. 127-148
    • Adji, S.S.1
  • 3
    • 33746176426 scopus 로고    scopus 로고
    • Evaluating the impact of IMF programs: A comparison of matching and instrumental-variable estimators
    • Atoyan, R., & Conway, P. (2006). Evaluating the impact of IMF programs: a comparison of matching and instrumental-variable estimators. Review of International Organizations, 1, 99-124.
    • (2006) Review of International Organizations , vol.1 , pp. 99-124
    • Atoyan, R.1    Conway, P.2
  • 4
    • 0042125328 scopus 로고    scopus 로고
    • The IMF in sociological perspective: A tale of organizational slippage
    • Babb, S. (2003). The IMF in sociological perspective: a tale of organizational slippage. Studies in Comparative International Development, 38, 3-27.
    • (2003) Studies in Comparative International Development , vol.38 , pp. 3-27
    • Babb, S.1
  • 5
    • 34547709634 scopus 로고    scopus 로고
    • Mission creep, mission push and discretion: The case of IMF conditionality
    • A. Buira (Ed.), London: Anthem
    • Babb, S., & Buira, A. (2005). Mission creep, mission push and discretion: the case of IMF conditionality. In A. Buira (Ed.), The IMF and the World Bank at sixty (pp. 59-83). London: Anthem.
    • (2005) The IMF and the World Bank at Sixty , pp. 59-83
    • Babb, S.1    Buira, A.2
  • 6
    • 0042390341 scopus 로고    scopus 로고
    • IMF Programs: Who is chosen and what are the effects?
    • National Bureau of Economic Research Working Paper 8951
    • Barro, R. J., & Lee, J-W. (2002). IMF Programs: who is chosen and what are the effects? National Bureau of Economic Research Working Paper 8951.
    • (2002)
    • Barro, R.J.1    Lee, J.-W.2
  • 9
    • 85017408741 scopus 로고    scopus 로고
    • Time series cross-section data - dynamics-continuous
    • Beck, N. (2005). Time series cross-section data - dynamics-continuous. Oxford Spring School notes. http://www. nyu. edu/classes/nbeck/q2/morning. short. pdf.
    • (2005) Oxford Spring School Notes
    • Beck, N.1
  • 10
    • 36749050287 scopus 로고    scopus 로고
    • Following the flag: Troop deployment and U.S. foreign direct investment
    • Biglaiser, G., & DeRouen, K., Jr. (2007). Following the flag: troop deployment and U. S. foreign direct investment. International Studies Quarterly, 51, 835-854.
    • (2007) International Studies Quarterly , vol.51 , pp. 835-854
    • Biglaiser, G.1    Derouen Jr., K.2
  • 11
    • 85050783699 scopus 로고    scopus 로고
    • The interdependence of U.S. troop deployments and trade in the developing world
    • Biglaiser, G., & DeRouen, K., Jr. (2009). The interdependence of U. S. troop deployments and trade in the developing world. Foreign Policy Analysis, 5, 247-263.
    • (2009) Foreign Policy Analysis , vol.5 , pp. 247-263
    • Biglaiser, G.1    Derouen Jr., K.2
  • 12
    • 0030501657 scopus 로고    scopus 로고
    • The International Monetary Fund and developing countries: A review of the evidence and policy options
    • Bird, G. (1996). The International Monetary Fund and developing countries: a review of the evidence and policy options. International Organization, 50, 477-511.
    • (1996) International Organization , vol.50 , pp. 477-511
    • Bird, G.1
  • 13
    • 0031462010 scopus 로고    scopus 로고
    • The catalytic effect of lending by international financial institutions
    • Bird, G., & Rowlands, D. (1997). The catalytic effect of lending by international financial institutions. World Development, 20, 967-991.
    • (1997) World Development , vol.20 , pp. 967-991
    • Bird, G.1    Rowlands, D.2
  • 14
    • 0036814019 scopus 로고    scopus 로고
    • Do IMF programmes have a catalytic effect on other international capital flows?
    • Bird, G., & Rowlands, D. (2002). Do IMF programmes have a catalytic effect on other international capital flows? Oxford Development Studies, 30, 229-249.
    • (2002) Oxford Development Studies , vol.30 , pp. 229-249
    • Bird, G.1    Rowlands, D.2
  • 15
    • 34548204969 scopus 로고    scopus 로고
    • Should it be curtains for some of the IMF's lending windows?
    • Bird, G., & Rowlands, D. (2007). Should it be curtains for some of the IMF's lending windows? Review of International Organizations, 2, 281-299.
    • (2007) Review of International Organizations , vol.2 , pp. 281-299
    • Bird, G.1    Rowlands, D.2
  • 18
    • 0042074230 scopus 로고    scopus 로고
    • The contribution of the IMF and the World Bank to economic freedom
    • Boockmann, B., & Dreher, A. (2003). The contribution of the IMF and the World Bank to economic freedom. European Journal of Political Economy, 19(3), 633-649.
    • (2003) European Journal of Political Economy , vol.19 , Issue.3 , pp. 633-649
    • Boockmann, B.1    Dreher, A.2
  • 19
    • 73649134572 scopus 로고    scopus 로고
    • U.S. policy, IMF financing agreements, and the coercive diffusion of capital account liberalization to emerging markets
    • EUI Working Paper RSCAS No. 2005/06
    • Chwieroth, J. (2005). U. S. policy, IMF financing agreements, and the coercive diffusion of capital account liberalization to emerging markets. EUI Working Paper RSCAS No. 2005/06. http://cadmus. eui. eu/dspace/bitstream/1814/2793/1/05_06. pdf.
    • (2005)
    • Chwieroth, J.1
  • 20
    • 0033378390 scopus 로고    scopus 로고
    • The IMF's role in structural adjustment
    • Collier, P., & Gunning, J. W. (1999). The IMF's role in structural adjustment. The Economic Journal, 109, F634-F651.
    • (1999) The Economic Journal , vol.109
    • Collier, P.1    Gunning, J.W.2
  • 21
    • 33750551692 scopus 로고    scopus 로고
    • How do official bailouts affect the risk of investing in emerging markets?
    • Dell'Ariccia, G., Schnabel, I., & Zettelmeyer, J. (2006). How do official bailouts affect the risk of investing in emerging markets? Journal of Money, Credit and Banking, 38(7), 1689-714.
    • (2006) Journal of Money, Credit and Banking , vol.38 , Issue.7 , pp. 1689-1714
    • Dell'Ariccia, G.1    Schnabel, I.2    Zettelmeyer, J.3
  • 23
    • 0034104150 scopus 로고    scopus 로고
    • Evaluating the effect of IMF lending to low income countries
    • Dicks-Mireaux, L., et al. (2000). Evaluating the effect of IMF lending to low income countries. Journal of Development Economics, 61, 495-526.
    • (2000) Journal of Development Economics , vol.61 , pp. 495-526
    • Dicks-Mireaux, L.1
  • 24
    • 33645955296 scopus 로고    scopus 로고
    • IMF and economic growth: The effects of programs, loans, and compliance with conditionality
    • Dreher, A. (2006a). IMF and economic growth: the effects of programs, loans, and compliance with conditionality. World Development, 34, 765-788.
    • (2006) World Development , vol.34 , pp. 765-788
    • Dreher, A.1
  • 25
    • 33745321880 scopus 로고    scopus 로고
    • Does globalization affect growth? Evidence from a new index of globalization
    • Dreher, A. (2006b). Does globalization affect growth? Evidence from a new index of globalization. Applied Economics, 38(10), 1091-1110.
    • (2006) Applied Economics , vol.38 , Issue.10 , pp. 1091-1110
    • Dreher, A.1
  • 26
    • 34249947917 scopus 로고    scopus 로고
    • Independent actor or agent? An empirical analysis of the impact of US interests on IMF conditions
    • Dreher, A., & Jensen, N. M. (2007). Independent actor or agent? An empirical analysis of the impact of US interests on IMF conditions. Journal of Law and Economics, 50(1), 105-124.
    • (2007) Journal of Law and Economics , vol.50 , Issue.1 , pp. 105-124
    • Dreher, A.1    Jensen, N.M.2
  • 27
    • 34248580539 scopus 로고    scopus 로고
    • IMF programs and reforms-Inhibition or encouragement?
    • Dreher, A., & Rupprecht, S. M. (2007). IMF programs and reforms-Inhibition or encouragement? Economics Letters, 95, 320-326.
    • (2007) Economics Letters , vol.95 , pp. 320-326
    • Dreher, A.1    Rupprecht, S.M.2
  • 28
    • 70349245661 scopus 로고    scopus 로고
    • Global horse trading: IMF loans for votes in the United Nations Security Council
    • In press
    • Dreher, A., Sturm, J-E., & Vreeland, J. R. (2009). Global horse trading: IMF loans for votes in the United Nations Security Council. European Economic Review. In press.
    • (2009) European Economic Review
    • Dreher, A.1    Sturm, J.-E.2    Vreeland, J.R.3
  • 29
    • 29444442295 scopus 로고    scopus 로고
    • Investor responses to IMF program suspensions: Is noncompliance costly?
    • Edwards, M. S. (2005). Investor responses to IMF program suspensions: is noncompliance costly? Social Science Quarterly, 86(4), 857-873.
    • (2005) Social Science Quarterly , vol.86 , Issue.4 , pp. 857-873
    • Edwards, M.S.1
  • 33
    • 0002144522 scopus 로고    scopus 로고
    • Refocusing the IMF
    • Feldstein, M. (1998). Refocusing the IMF. Foreign Affairs March/April.
    • (1998) Foreign Affairs , Issue.March-April
    • Feldstein, M.1
  • 34
    • 0003737781 scopus 로고    scopus 로고
    • On the need for an international lender of last resort
    • Paper prepared for the joint luncheon of the American Economic Association and the American Finance Association, New York, January 3. Available at
    • Fischer, S. (1999). On the need for an international lender of last resort. Paper prepared for the joint luncheon of the American Economic Association and the American Finance Association, New York, January 3. Available at www. imf. org.
    • (1999)
    • Fischer, S.1
  • 36
    • 0032123336 scopus 로고    scopus 로고
    • Host country reforms and FDI inflows: How much difference do they make?
    • Gastanaga, V. M., Nugent, J. B., & Pashamova, B. (1998). Host country reforms and FDI inflows: how much difference do they make? World Development, 26, 1299-1314.
    • (1998) World Development , vol.26 , pp. 1299-1314
    • Gastanaga, V.M.1    Nugent, J.B.2    Pashamova, B.3
  • 37
    • 0141763837 scopus 로고    scopus 로고
    • Money talks: Supplemental financiers and conditionality
    • Gould, E. R. (2003). Money talks: supplemental financiers and conditionality. International Organization, 57(3), 551-586.
    • (2003) International Organization , vol.57 , Issue.3 , pp. 551-586
    • Gould, E.R.1
  • 38
    • 33244490146 scopus 로고    scopus 로고
    • Foreign direct investment in Latin America
    • R. Grosse (Ed.), Coral Gables: North-South Center Press, University of Miami
    • Grosse, R. (1997). Foreign direct investment in Latin America. In R. Grosse (Ed.), Generating savings for Latin American development (pp. 135-153). Coral Gables: North-South Center Press, University of Miami.
    • (1997) Generating Savings for Latin American Development , pp. 135-153
    • Grosse, R.1
  • 39
    • 0001017639 scopus 로고
    • The external debt repayment problems of LDCs: An econometric model based on panel data
    • Hajivassiliou, V. A. (1987). The external debt repayment problems of LDCs: an econometric model based on panel data. Journal of Econometrics, 36, 205-230.
    • (1987) Journal of Econometrics , vol.36 , pp. 205-230
    • Hajivassiliou, V.A.1
  • 40
    • 31344440554 scopus 로고    scopus 로고
    • The economic and political determinants of IMF and World Bank lending in the Middle East and North Africa
    • Harrigan, J., Wang, C., & El-Said, H. (2006). The economic and political determinants of IMF and World Bank lending in the Middle East and North Africa. World Development, 34(2), 247-270.
    • (2006) World Development , vol.34 , Issue.2 , pp. 247-270
    • Harrigan, J.1    Wang, C.2    El-Said, H.3
  • 41
    • 0008596758 scopus 로고    scopus 로고
    • IMF, Prepared by the Policy Development and Review Department. Accessed on February 11, 2006
    • IMF. (2001). Structural conditionality in fund-supported programs. Prepared by the Policy Development and Review Department. Accessed on February 11, 2006. http://www. internationalmonetaryfund. com/external/np/pdr/cond/2001/eng/struct/cond. pdf.
    • (2001) Structural Conditionality in Fund-supported Programs
  • 42
    • 85017460191 scopus 로고    scopus 로고
    • IMF. (2006a). Phone interview with an IMF researcher (name withheld for confidentiality) on April 21, 2006
    • IMF. (2006a). Phone interview with an IMF researcher (name withheld for confidentiality) on April 21, 2006.
  • 43
    • 85017453830 scopus 로고    scopus 로고
    • IMF. (2006b). Phone interview with an IMF researcher (name withheld for confidentiality) on April 25, 2006
    • IMF. (2006b). Phone interview with an IMF researcher (name withheld for confidentiality) on April 25, 2006.
  • 44
    • 85017473723 scopus 로고    scopus 로고
    • IMF. (2006c). Phone interview with an IMF researcher (name withheld for confidentiality) on April 28, 2006
    • IMF. (2006c). Phone interview with an IMF researcher (name withheld for confidentiality) on April 28, 2006.
  • 45
    • 1642521334 scopus 로고    scopus 로고
    • IMF Staff, Washington, D. C.: International Monetary Fund. Accessed on August 7, 2009
    • IMF Staff. (2001). IMF lending to poor countries-How does the PRGF differ from the ESAF? Washington, D. C.: International Monetary Fund. Accessed on August 7, 2009. http://www. imf. org/external/np/exr/ib/2001/043001. htm.
    • (2001) IMF Lending to Poor Countries-How does the PRGF differ from the ESAF?
  • 46
    • 0004310182 scopus 로고    scopus 로고
    • International Monetary Fund. several years, Washington, D. C.: International Monetary Fund
    • International Monetary Fund. several years. Direction of Trade Statistics Yearbook. Washington, D. C.: International Monetary Fund.
    • Direction of Trade Statistics Yearbook
  • 48
    • 0041378124 scopus 로고    scopus 로고
    • Democratic governance and multinational corporations: Political regimes and inflows of foreign direct investment
    • Jensen, N. M. (2003). Democratic governance and multinational corporations: political regimes and inflows of foreign direct investment. International Organization, 57, 587-616.
    • (2003) International Organization , vol.57 , pp. 587-616
    • Jensen, N.M.1
  • 49
    • 1842581378 scopus 로고    scopus 로고
    • Crisis, conditions, and capital: The effects of International Monetary Fund agreements on foreign direct investment flows
    • Jensen, N. M. (2004). Crisis, conditions, and capital: the effects of International Monetary Fund agreements on foreign direct investment flows. Journal of Conflict Resolution, 48, 194-210.
    • (2004) Journal of Conflict Resolution , vol.48 , pp. 194-210
    • Jensen, N.M.1
  • 51
    • 49349109962 scopus 로고    scopus 로고
    • IMF retrospective and prospective: A publicgoods viewpoint
    • Joyce, J. P., & Sandler, T. (2008). IMF retrospective and prospective: a publicgoods viewpoint. Review of International Organizations, 3(3), 221-238.
    • (2008) Review of International Organizations , vol.3 , Issue.3 , pp. 221-238
    • Joyce, J.P.1    Sandler, T.2
  • 52
    • 0010893332 scopus 로고
    • The United States and the International Monetary Fund
    • M. P. Karns and K. A. Mingst (Eds.), Boston: Unwin Hyman
    • Kahler, M. (1990). The United States and the International Monetary Fund. In M. P. Karns & K. A. Mingst (Eds.), The United States and multilateral institutions. Boston: Unwin Hyman.
    • (1990) The United States and Multilateral Institutions
    • Kahler, M.1
  • 55
    • 33645166823 scopus 로고    scopus 로고
    • Democracy, autocracy, and tax incentives to Foreign Direct Investors: A cross-national analysis
    • Li, Q. (2006). Democracy, autocracy, and tax incentives to Foreign Direct Investors: a cross-national analysis. Journal of Politics, 68, 62-74.
    • (2006) Journal of Politics , vol.68 , pp. 62-74
    • Li, Q.1
  • 56
    • 0043161723 scopus 로고    scopus 로고
    • Reversal of fortunes: Democratic institutions and foreign direct investment inflows to developing countries
    • Li, Q., & Resnick, A. (2003). Reversal of fortunes: democratic institutions and foreign direct investment inflows to developing countries. International Organization, 57, 175-211.
    • (2003) International Organization , vol.57 , pp. 175-211
    • Li, Q.1    Resnick, A.2
  • 59
    • 0001187515 scopus 로고    scopus 로고
    • A comparative study of unit root tests with panel data and a new simple test
    • Maddala, G. S., & Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61, 631-652.
    • (1999) Oxford Bulletin of Economics and Statistics , vol.61 , pp. 631-652
    • Maddala, G.S.1    Wu, S.2
  • 60
    • 1842843737 scopus 로고    scopus 로고
    • Causes of tax reform in Latin America, 1977-95
    • Mahon, J. E., Jr. (2004). Causes of tax reform in Latin America, 1977-95. Latin American Research Review, 39, 3-30.
    • (2004) Latin American Research Review , vol.39 , pp. 3-30
    • Mahon Jr., J.E.1
  • 63
    • 44649183619 scopus 로고    scopus 로고
    • IMF conditionality: An approach based on the theory of special interest politics
    • Mayer, W., & Mourmouras, A. (2008). IMF conditionality: an approach based on the theory of special interest politics. Review of International Organizations, 3(2), 105-121.
    • (2008) Review of International Organizations , vol.3 , Issue.2 , pp. 105-121
    • Mayer, W.1    Mourmouras, A.2
  • 64
    • 70349600334 scopus 로고    scopus 로고
    • How U. S. decision-makers assessed their control of multilateral organizations, 1957-1982
    • McKeown, T. J. (2009). How U. S. decision-makers assessed their control of multilateral organizations, 1957-1982. Review of International Organizations. 4(3), 269-291.
    • (2009) Review of International Organizations. , vol.4 , Issue.3 , pp. 269-291
    • McKeown, T.J.1
  • 65
    • 4644252173 scopus 로고    scopus 로고
    • Catalysing capital flows: Do IMF programs work as commitment devices?
    • IMF Working Papers 03/100
    • Mody, A., & Saravia, D. (2003). Catalysing capital flows: do IMF programs work as commitment devices? IMF Working Papers 03/100.
    • (2003)
    • Mody, A.1    Saravia, D.2
  • 66
    • 68649102042 scopus 로고    scopus 로고
    • Conditional lending under altruism
    • Washington, D. C.: International Monetary Fund Working Paper WP/04/100
    • Mourmouras, A., & Rangazas, P. (2004). Conditional lending under altruism. Washington, D. C.: International Monetary Fund Working Paper WP/04/100.
    • (2004)
    • Mourmouras, A.1    Rangazas, P.2
  • 68
    • 27144555949 scopus 로고    scopus 로고
    • Institutions, program implementation, and macroeconomic performance
    • Washington, D. C.: International Monetary Fund Working Paper WP/04/184
    • Nsouli, S. M., Atoyan, R., & Mourmouras, A. (2004). Institutions, program implementation, and macroeconomic performance. Washington, D. C.: International Monetary Fund Working Paper WP/04/184.
    • (2004)
    • Nsouli, S.M.1    Atoyan, R.2    Mourmouras, A.3
  • 69
    • 84937316120 scopus 로고
    • The affinity of Foreign Investors for Authoritarian Regimes
    • Oneal, J. (1994). The affinity of Foreign Investors for Authoritarian Regimes. Political Research Quarterly, 47, 565-589.
    • (1994) Political Research Quarterly , vol.47 , pp. 565-589
    • Oneal, J.1
  • 71
    • 0002596097 scopus 로고    scopus 로고
    • Understanding economic policy reform
    • Rodrik, D. (1996). Understanding economic policy reform. Journal of Economic Literature, 34, 9-41.
    • (1996) Journal of Economic Literature , vol.34 , pp. 9-41
    • Rodrik, D.1
  • 74
    • 0001886556 scopus 로고    scopus 로고
    • The IMF and the Asian flu
    • Sachs, J. (1998). The IMF and the Asian flu. The American Prospect, 37, 16-21.
    • (1998) The American Prospect , vol.37 , pp. 16-21
    • Sachs, J.1
  • 75
    • 0001755034 scopus 로고
    • The estimation of economic relationships using instrumental variables
    • Sargan, J. D. (1958). The estimation of economic relationships using instrumental variables. Econometrica, 26, 393-411.
    • (1958) Econometrica , vol.26 , pp. 393-411
    • Sargan, J.D.1
  • 78
    • 0346307687 scopus 로고    scopus 로고
    • Instrumental variables regression with weak instruments
    • Staiger, D., & Stock, J. (1997). Instrumental variables regression with weak instruments. Econometrica, 65(3), 557-586.
    • (1997) Econometrica , vol.65 , Issue.3 , pp. 557-586
    • Staiger, D.1    Stock, J.2
  • 79
    • 85017480157 scopus 로고    scopus 로고
    • StataCorp
    • StataCorp. (2009). Stata 11 Help for Treatreg. http://www. stata. com/help. cgi?treatreg.
    • (2009) Stata 11 Help for Treatreg
  • 80
    • 44649202919 scopus 로고    scopus 로고
    • The International Monetary Fund: A review of the recent evidence
    • Steinwand, M. C., & Stone, R. W. (2008). The International Monetary Fund: a review of the recent evidence. Review of International Organizations, 3(2), 123-149.
    • (2008) Review of International Organizations , vol.3 , Issue.2 , pp. 123-149
    • Steinwand, M.C.1    Stone, R.W.2
  • 83
    • 11044222866 scopus 로고    scopus 로고
    • The political economy of IMF lending in Africa
    • Stone, R. W. (2004). The political economy of IMF lending in Africa. American Political Science Review, 98(4), 577-592.
    • (2004) American Political Science Review , vol.98 , Issue.4 , pp. 577-592
    • Stone, R.W.1
  • 84
    • 0033382873 scopus 로고    scopus 로고
    • The high politics of IMF lending
    • Thacker, S. (1999). The high politics of IMF lending. World Politics, 52, 38-74.
    • (1999) World Politics , vol.52 , pp. 38-74
    • Thacker, S.1
  • 86
    • 0038496795 scopus 로고    scopus 로고
    • Why do governments and the IMF enter into agreements? Statistically selected cases
    • Vreeland, J. R. (2003b). Why do governments and the IMF enter into agreements? Statistically selected cases. International Political Science Review, 24(3), 321-343.
    • (2003) International Political Science Review , vol.24 , Issue.3 , pp. 321-343
    • Vreeland, J.R.1
  • 87
    • 33750802985 scopus 로고    scopus 로고
    • IMF program compliance: Aggregate index versus policy specific research strategies
    • Vreeland, J. R. (2006). IMF program compliance: aggregate index versus policy specific research strategies. Review of International Organizations, 1, 359-378.
    • (2006) Review of International Organizations , vol.1 , pp. 359-378
    • Vreeland, J.R.1
  • 88
    • 0003926535 scopus 로고    scopus 로고
    • World Bank, Washington, D.C
    • World Bank. (2004). World Development Indicators. Washington, D. C.
    • (2004) World Development Indicators


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.