The views expressed in this Working Paper are those of the authors and do not necessarily represent those of the IlvIF or IlvIF policy. Working Papers describe research in progress by the authors and are published to elicit comments and to further debate.This paper makes use of the IMF's Database for Monitoring Fund Arrangements (MONA) to investigate whether transition countries that more successfully implement the conditionality ofIMF programs tend to show a better performance on recovery and growth. It is not possible to determine a clear -cut relationship between the index that determines the level of compliance with structural benchmarks in IMF programs and growth. However, the paper finds a definite, positive relationship between the index of compliance with performance criteria and growth, even after controlling for the extent of stabilization of the transition countries.

This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper analyzes factors that determine recent economic growth in the low-income countries of the Commonwealth of Independent States. 2 The main findings are as follows: (1) productivity gains in export-oriented sectors and expansion of exports may have become the main sources of growth in five of the seven CIS-7 countries, while in the early years of transition the output recovery was mainly driven by consumption; (2) economic growth has concentrated in agriculture and the raw material sectors, and, thus, is vulnerable to changes in external conditions; and (3) structural reforms matter for growth, which is consistent with previous research on growth in transition countries.

No abstract

The views expressed in this Working Paper are those of the authors and do not necessarily represent those of the IlvIF or IlvIF policy. Working Papers describe research in progress by the authors and are published to elicit comments and to further debate.This paper makes use of the IMF's Database for Monitoring Fund Arrangements (MONA) to investigate whether transition countries that more successfully implement the conditionality ofIMF programs tend to show a better performance on recovery and growth. It is not possible to determine a clear -cut relationship between the index that determines the level of compliance with structural benchmarks in IMF programs and growth. However, the paper finds a definite, positive relationship between the index of compliance with performance criteria and growth, even after controlling for the extent of stabilization of the transition countries.

No abstract