The effect of IMF programs on economic growth
使用赫克曼选择模型的二元动态版本，估计参与国际货币基金组织项目对经济增长的影响，发现参与项目期间增长率下降，但退出后增速快于继续参与，却未超过不参与的情况。
Using a bivariate, dynamic version of the Heckman selection model, we estimate the effect of participation in International Monetary Fund (IMF) programs on economic growth. We find evidence that governments enter into agreements with the IMF under the pressures of a foreign reserves crisis but they also bring in the Fund to shield themselves from the political costs of adjustment policies. Program participation lowers growth rates for as long as countries remain under a program. Once countries leave the program, they grow faster than if they had remained, but not faster than they would have without participation.