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Author: John Williamson
Publisher: MIT Press (MA)
Published: 1983
Total Pages: 708
ISBN-13:
DOWNLOAD EBOOK →The twenty-one contributions in this book assess the controversy surrounding the Fund and provide judgments about the criteria for Fund lending which should help readers understand and analyze both its ongoing role in smoothing adjustment to international payments imbalances and its currently critical position in responding to the debt crisis.
Author: Erica R. Gould
Publisher: Stanford University Press
Published: 2006
Total Pages: 308
ISBN-13: 9780804752794
DOWNLOAD EBOOK →analyzes the changes in conditions placed on International Monetary Fund loans to states over the last fifty years and argues that the changes can be explained by shifts in the sources of the IMF's funding.
Author: Erik M.G. Denters
Publisher: BRILL
Published: 2023-08-28
Total Pages: 310
ISBN-13: 9004634703
DOWNLOAD EBOOK →IMF conditionality has been severely criticised by developing countries, who accuse the Fund of unjustly provoking political turmoil and causing poverty. This refers to the policies that a member country is required to follow in order to be able to use the Fund's resources. Conditionality is legally based on the requirement to adopt `adequate safeguards' for the use of resources as stipulated by the IMF's Articles of Agreement. This work focuses on legal implications and policy aspects and, more specifically, on the question of how far-reaching the requirement of `adequate safeguards' may be. Furthermore, the author demonstrates that conditionality is also affected by cooperative arrangements with other institutions, such as the World Bank and United Nations. A major conclusion is that there should be improvements in cooperation and in the monitoring of the application of Fund law on conditionality. Scholars and students who take a deep interest in international economic relations will find this book a unique opportunity to study the legal framework of conditionality. Government officials preparing for negotiations with the Fund will also benefit from reading this work.
Author: Mr.S. Nuri Erbas
Publisher: International Monetary Fund
Published: 2003-05-01
Total Pages: 19
ISBN-13: 1451852169
DOWNLOAD EBOOK →Program conditionality and ownership are important considerations in the IMF's current rethinking of program design. This paper contributes to the literature by developing a theory of program conditionality and ownership on the basis of Cumulative Prospect Theory. The policymaker may value a set of programs, each with fewer conditions, more than an extended program with as many conditions. This valuation bias is greater in ambiguity (Knightian uncertainty) than under uncertainty. If greater valuation of a program engenders more explicit and implicit ownership, then programs with fewer conditions may have a better chance of success. Less is more.
Author: Mr.James John
Publisher: International Monetary Fund
Published: 1995-09-29
Total Pages: 166
ISBN-13: 9781557755001
DOWNLOAD EBOOK →This paper is part II of a two-volume study conducted as a part of the IMF's ongoing process of evaluating its lending facilities. It focuses on IMF-supported programs and macroeconomic performance during 1988-92, reflecting information available through the end of 1993. Part I (Occasional Paper No. 128) provides an overview of the principal issues and findings and distills the main message for future programs. Part II presents detailed examinations of selected policy issues in five background papers.
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2014-05-03
Total Pages: 61
ISBN-13: 1498343694
DOWNLOAD EBOOK →With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.
Author: Mr. Jochen R. Andritzky
Publisher: International Monetary Fund
Published: 2021-05-13
Total Pages: 56
ISBN-13: 1513572695
DOWNLOAD EBOOK →Structural conditionality of IMF-supported programs is designed to support structural reforms by countries borrowing from the IMF. Taking stock of program conditions and their implementation, this paper finds that conditionality focuses on fiscal, monetary and financial issues—areas where IMF expertise is strong—and shies away from structural areas such as labor or product market reforms. Hence, tackling deep-rooted structural issues during IMF-supported programs often remained elusive. To ensure countries gain most from IMF conditionality, the paper outlines an evaluation matrix for prioritizing and designing structural reforms, and applies it to case studies.
Author: Mr.Sanjeev Gupta
Publisher: International Monetary Fund
Published: 2018-12-07
Total Pages: 31
ISBN-13: 1484389077
DOWNLOAD EBOOK →This paper studies the impact of expenditure conditionality in IMF programs on the composition of public spending. A granular dataset on different government expenditure conditions covering 115 countries for the 1992-2016 period is compiled. The results support the view that while conditionality on specific elements of spending could help achieve a program’s short-term objectives, it is structural conditionality which delivers lasting benefits. Structural public financial management conditionality (such as on budget execution and control) has proven to be effective in boosting the long-term level of education, health, and public investment expenditures. The results further indicate that conditionality on raising such spending may come at the expense of other expenditures. Finally, the successful implementation (and not mere existence) of the conditionality is crucial for improved outcomes. These findings are relevant for policy makers targeting achievement of the Sustainable Development Goals (SDGs).
Author: James Raymond Vreeland
Publisher: Routledge
Published: 2006-12-06
Total Pages: 299
ISBN-13: 1134189524
DOWNLOAD EBOOK →This is a clear and concise introduction to the International Monetary Fund (IMF) and an overview of its debates and controversies. Where did the IMF come from? What does it do? Why do so many governments participate in its programs and what are their effects? How can we best reform this key global institution? These are some of the key questions addressed. In our age of thinking global, the IMF is a crucial institution and central to understanding international relations and current affairs. Founded in the aftermath of the Second World War, its basic purposes were to facilitate world trade and promote national prosperity. The founders hoped that never again would the world experience the trade policies that led up to the Great Depression. This book outlines and questions these targets and assesses actual achievements. It also details how despite originally focusing on Europe, the Fund has gradually shifted to involvement with poorer developing countries, but to what ends and with how much success? This study both poses and tackles the tough questions facing our global community today.
Author: Mr.James John
Publisher: International Monetary Fund
Published: 1995-09-26
Total Pages: 70
ISBN-13: 9781557754929
DOWNLOAD EBOOK →This paper is Part I of a two-volume study conducted as a part of the IMF's ongoing process of evaluating its lending facilities. It focuses on IMF-supported programs and macroeconomic performance during 1988-92, reflecting information available through the end of 1993. Part I provides an overview of the experiences during the arrangements reviewed: it describes the initial conditions faced in these countries, the adjustment strategies adopted, the degree to which programs were implemented, and the extent of sustained adjustment experienced.
