02114cas a2200253 a 4500 AALejournalIMF009123 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864731 1018-5941 BD-DhAAL BD-DhAAL Ramakrishnan, Uma. The Incidence and Effectiveness of Prior Actions in IMF-supported Programs / Uma Ramakrishnan, Alun Thomas. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Prior actions are measures that need to be implemented prior to Board approval of an IMFsupported program. This paper examines whether such prior actions can signal a willingness to implement reforms, especially when the member's track record is weak. We find some support for this signaling role, particularly for programs supported by the General Resources Account (GRA). Controlling for the member's previous track record, prior actions are associated with greater compliance with other structural conditions, suggesting their possible use as a screening device. Moreover, prior actions set at program approval serve as a useful screening device and strengthen the macroeconomic targets set out in the IMF-supported program. The results also reveal a demonstrable screening effect on growth over the medium term, since the growth impact of the ratio of prior actions at the outset versus the rest of the program is significantly positive while the total number of prior actions is not statistically significant. Mode of access: Internet Thomas, Alun. IMF Working Papers; Working Paper ; No. 2006/213 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/213/001.2006.issue-213-en.xml IMF e-Library