Table 3 Financial crises and IFI disbursements: econometric results
Dependent variable: DISBki/GDPi
|
Variables____________ |
________Coefficients (t-stats) |
Coefficients (t-stats)_________ |
|
D_IMF_AFR |
0.29 (12.1) |
0.29 (12.1) |
|
D WB AFR |
0.87 (26.2) |
0.87 (26.6) |
|
D IMF AS |
0.11 (5.42) |
0.10 (6.1) |
|
DWB AS |
0.43 ((15.0) |
0.43 (15.9) |
|
D IMF EUR |
0.31 (4.3) |
0.32 (4.3) |
|
D WB EUR |
0.24 (8.5) |
0.25 (8.5) |
|
D IMF LA |
0.02 (0.5) |
0.10 (2.2) |
|
DWB LA |
0.32 (12.9) |
0.28 (18.1) |
|
D IMF ME |
0.05 (3.6) |
0.05 (3.6) |
|
D_WB_ME |
0.18 (5.6) |
0.18 (5.6) |
|
Crisis_IMF |
0.47 (13.9) |
0.271(4.3) |
|
Crisis_WB |
0.097 (5.1) |
0.22 (12.1) |
|
Crisis_IMF_90 |
-- |
0.268 (4.2) |
|
Crisis_WB_90 |
-- |
_____________-0.18 (8.92)_________ |
Legend
DISBki: disbursements by institution k (k=IMF, WB) to region i
GDPi: GDP in region i
D_IMF_i: regional fixed effects for the IMF (i=AFR,AS,EUR,LA,ME)
D_WB_i: regional fixed effects for the World Bank (i=AFR,AS,EUR,LA,ME)
Crisis: see table 2
Crisis_90: shift in the coefficient for crises during the nineties
t-statistics in parentheses
Table 4 Influential shareholders and IFI lending
Dependent variable: DISBki/GDPi
|
Variables______ |
(1) |
(2) |
(3) |
|
XUS |
0.017 (5.2) |
0.035 (4.6) |
0.06 (8.3) |
|
Xeu |
-- |
0.032 (12.7) |
0.03 (9.5) |
|
Xjap |
-- |
-0.022 (6.1) |
-0.02 (7.1) |
|
CLAIMSus |
23.9 (3.5) |
22.2 (4.4) |
54.8 (8.7) |
|
CLAIMSeu |
-- |
2.4 (0.8) |
28.6 (4.7)1 |
|
CLAIMSjap |
-- |
13.8 (3.1) |
48.8 (9.1)2 |
|
crisis_imf |
0.47 (73.7) |
0.44 (30.8) |
0.41 (31.3) |
|
CRISIS_WB |
0.07 (8.4) |
0.04 (4.4) |
0.01(1.5) |
22
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