Editing International Monetary Fund (section)

==Impact==
According to a 2002 study by [[Randall Stone|Randall W. Stone]], the academic literature on the IMF shows "no consensus on the long-term effects of IMF programs on growth".<ref>{{Cite book |last1=Stone |first1=Randall W. |title=Lending Credibility: The International Monetary Fund and the Post-Communist Transition |date=2002 |publisher=Princeton University Press |isbn=978-0-691-09529-5 |pages=43 |doi=10.2307/j.ctt7t6hn |jstor=j.ctt7t6hn }}</ref>

Some research has found that IMF loans can reduce the chance of a future banking crisis,<ref>Papi, Luca, Andrea F. Presbitero, and Alberto Zazzaro. "IMF lending and banking crises." IMF Economic Review 63, no. 3 (2015): 644-691.</ref> while other studies have found that they can increase the risk of political crises.<ref>Dreher, Axel, and Martin Gassebner. "Do IMF and World Bank programs induce government crises? An empirical analysis." International Organization (2012): 329-358.</ref> IMF programs can reduce the effects of a currency crisis.<ref>Dreher, Axel, and Stefanie Walter. "Does the IMF help or hurt? The effect of IMF programs on the likelihood and outcome of currency crises." World Development 38, no. 1 (2010): 1-18.</ref>

Some research has found that IMF programs are less effective in countries which possess a developed-country patron (be it by foreign aid, membership of postcolonial institutions or UN voting patterns), seemingly due to this patron allowing countries to flaunt IMF program rules as these rules are not consistently enforced.<ref>Stone, Randall W. "The political economy of IMF lending in Africa." American Political Science Review (2004): 577-591.</ref> Some research has found that IMF loans reduce economic growth due to creating an economic [[moral hazard]], reducing public investment, reducing incentives to create a robust domestic policies and reducing private investor confidence.<ref>Butkiewicz, James L., and Halit Yanikkaya. "The effects of IMF and World Bank lending on long-run economic growth: An empirical analysis." World Development 33, no. 3 (2005): 371-391.</ref> Other research has indicated that IMF loans can have a positive impact on economic growth and that their effects are highly nuanced.<ref>Bird, Graham, and Dane Rowlands. "The effect of IMF Programmes on economic growth in low income countries: An empirical analysis." The Journal of Development Studies 53, no. 12 (2017): 2179-2196.</ref>