Capacity development is one of the IMF's core activities. Its impact is monitored through a Results-Based Management framework. Using for the first time the resulting dataset, the paper investigates how the likelihood of achieving targeted outcomes correlates with macroeconomic conditions and...

In the 1990s and early 2000s, Belize grew faster than its regional peers. By the mid-2000s, however, economic growth had slowed down to the regional average. A vicious circle of low growth and increasing public debt has been clouding Belize's outlook. This paper applies a growth diagnostic...

This paper takes a fresh look at the current theories of structural transformation and the role of private and public fundamentals in the process. It summarizes some representative past and current experiences of various countries vis-a-vis structural transformation with a focus on the roles of...

Despite starting as one of the poorest countries in the mid-1980s, Vietnam has achieved rapid developmental progress, reaching lower middle-income status in 2010. In line with rapid economic growth, Vietnam has achieved impressive progress towards the Sustainable Development Goals (SDGs) during...

This paper suggests a conceptual framework that can serve as a basis for the design of growth-oriented adjustment programs. The two building blocks of the model are the well-known monetary approach to the balance of payments, and a variant of the open-economy neoclassical growth model. The...

This paper deals with the design of quantitative exercises relating objectives for the growth of national income over the medium term to key macroeconomic policy variables. It focuses on the roles of capital formation, saving, and total factor productivity in the process of economic growth and...

This paper extends the basic monetary model that underlies the monetary approach to the balance of payments to allow for the endogenous determination of the short-run growth rate of the economy. In the extended model domestic credit expansion affects not only the balance of payments but also the...

This paper identifies the factors linked to cross-country differentials in growth performance in the aftermath of social conflict for 30 sub-Saharan African countries using panel data techniques. Our results show that changes in the terms of trade are the most important correlate of economic...

This paper shows that donors that maximize relative aid impact spread their budgets across many recipient countries in a unique Nash equilibrium, explaining aid fragmentation. This equilibrium may be inefficient even without fixed costs, and the inefficiency increases in the equality of donors'...