Use
A recent study reveals that the average overall use of IMF credit per decade increased, in real terms, by 21% between the 1970s and 1980s, and increased again by just over 22% percent from the 1980s to the 1991–2005 period. Another study has suggested that since 1950 the continent of Africa alone has received $300 billion from the IMF, the World Bank and affiliate institutions
A study done by Bumba Mukherjee found that developing democratic countries benefit more from IMF programs than developing autocratic countries because policy-making, and the process of deciding where loaned money is used, is more transparent within a democracy. One study done by Randall Stone found that although earlier studies found little impact of IMF programs on balance of payments, more recent studies using more sophisticated methods and larger samples “usually found IMF programs improved the balance of payments.”
Read more about this topic: International Monetary Fund
Famous quotes containing the word use:
“... it is use, and use alone, which leads one of us, tolerably trained to recognize any criterion of grace or any sense of the fitness of things, to tolerate ... the styles of dress to which we are more or less conforming every day of our lives. Fifty years hence they will seem to us as uncultivated as the nose-rings of the Hottentot seem today.”
—Elizabeth Stuart Phelps (1844–1911)