The Politics Of Imf Lending

Author : M. Breen
Publisher : Springer
Page : 146 pages
File Size : 41,6 Mb
Release : 2013-08-15
Category : Political Science
ISBN : 9781137263810

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The Politics of IMF Lending by M. Breen Pdf

As national governments continue to disagree over how to respond to the aftermath of the global financial crisis, two of the few areas of consensus were the decisions to increase the IMF's capacity to respond and remove the policies designed to limit the use of its resources. Why was this massive increase in the size of the IMF, accompanied by the removal of policies designed to limit moral hazard, such an easy point of consensus? Michael Breen looks at the hidden politics behind IMF lending and proposes a new theory based on shareholder control. To test this theory, he combines statistical analysis with a sweeping account of IMF lending and conditionality during two global crises; the European sovereign debt crisis and the Asian financial crisis.

Author : James Raymond Vreeland
Publisher : Routledge
Page : 299 pages
File Size : 40,8 Mb
Release : 2006-12-06
Category : Political Science
ISBN : 9781134189526

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The International Monetary Fund (IMF) by James Raymond Vreeland Pdf

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 : Graham Bird
Publisher : Routledge
Page : 318 pages
File Size : 52,5 Mb
Release : 2014-05-01
Category : Business & Economics
ISBN : 9781134700776

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The IMF and the Future by Graham Bird Pdf

The International Monetary Fund has been criticised from both the right and the left of the political spectrum with the right arguing that it is too interventionist and creates more problems than it solves and the left on occasion demanding that it be abolished altogether. What seems almost beyond question is that the IMF needs to be reformed. Defining a future role for the IMF will always be a controversial issue, but vital to any considerations will be a measured assessment of how it has operated in the past. This excellent new book from an internationally respected expert on the IMF intends to do just that. Starting with an historical background tracing the evolution of the IMF, the book goes on to cover such themes as: *The circumstances under which countries turn to the IMF *The various aspects of IMF conditionality *Institutional issues such as lending facilities and how the fund is resourced. Bringing together an array of articles, this excellent new book will undoubtedly be required reading for anyone with a serious interest in development studies as well as being an eye-opening read for policy makers involved with the IMF.

Author : Kendall W. Stiles
Publisher : Routledge
Page : 200 pages
File Size : 51,8 Mb
Release : 2019-03-07
Category : Political Science
ISBN : 9780429714863

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Negotiating Debt by Kendall W. Stiles Pdf

This book aims to develop and test a model of International Monetary Fund (IMF) decision-making that will offer a better understanding of how the IMF applies its lending terms to individual countries such as Jamaica, Zaire, Sudan, India, United Kingdom, Turkey and Argentina.

Author : Liam Clegg
Publisher : Springer
Page : 282 pages
File Size : 45,8 Mb
Release : 2013-06-03
Category : Political Science
ISBN : 9781137274557

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Controlling the World Bank and IMF by Liam Clegg Pdf

Liam Clegg provides an innovative reading of where power lies in the institutions' concessional lending operations, drawing its focus on shareholders and stakeholders from staffs' own understandings of their operational environments.

Author : James Raymond Vreeland
Publisher : Unknown
Page : 172 pages
File Size : 49,8 Mb
Release : 2006
Category : Electronic books
ISBN : 1135001804

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The International Monetary Fund by James Raymond Vreeland Pdf

The ideal book for students who need a clear and concise introduction to the IMF and an overview of its debates and controversies.

Author : Mark Copelovitch
Publisher : Unknown
Page : 80 pages
File Size : 48,9 Mb
Release : 2004
Category : Debts, External
ISBN : STANFORD:36105114979383

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"Private Debt Composition and the Political Economy of IMF Lending" by Mark Copelovitch Pdf

Author : M. Rodwan Abouharb,Bernhard Reinsberg
Publisher : Cambridge University Press
Page : 202 pages
File Size : 42,9 Mb
Release : 2023-12-31
Category : Political Science
ISBN : 9781009451123

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IMF Lending by M. Rodwan Abouharb,Bernhard Reinsberg Pdf

This Element argues that governments allocate adjustment burdens strategically to protect their supporters, imposing adjustment costs upon the supporters of their opponents, who then protest in response. Using large-N micro-level survey data from three world regions and a global survey, it discusses the local political economy of International Monetary Fund (IMF) lending. It finds that opposition supporters in countries under IMF structural adjustment programs (SAP) are more likely to report that the IMF SAP increased economic hardships than government supporters and countries without IMF exposure. In addition, it finds that partisan gaps in IMF SAP evaluations widen in IMF program countries with an above-median number of conditions, suggesting that opposition supporters face heavier adjustment burdens, and that opposition supporters who think SAPs made their lives worse are more likely to protest.

Author : Randall W. Stone
Publisher : Princeton University Press
Page : 311 pages
File Size : 45,8 Mb
Release : 2002-07-14
Category : Political Science
ISBN : 9780691095295

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Lending Credibility by Randall W. Stone Pdf

With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the IMF exert over fiercely contested issues in domestic politics that affect the lives of millions? In Lending Credibility, Randall Stone develops the first systematic approach to answering this question. Deploying an arsenal of methods from a range of social sciences rarely combined, he mounts a forceful challenge to conventional wisdom. Focusing on the former Soviet bloc, Stone finds that the IMF is neither as powerful as some critics fear, nor as weak as others believe, but that the answer hinges on the complex factor of how much credibility it can muster from country to country. Stone begins by building a formal, game-theoretic model of lending credibility, which he then subjects to sophisticated quantitative testing on original data from twenty-six countries over the 1990s. Next come detailed, interview-based case studies on negotiations between the IMF and Russia, Ukraine, Poland, and Bulgaria. Stone asserts that the IMF has exerted startling influence over economic policy in smaller countries, such as Poland and Bulgaria. However, where U.S. foreign policy interests come more heavily into play, as in Russia, the IMF cannot credibly commit to enforcing the loans-for-policy contract. This erodes its ability to facilitate enduring market reforms. Stone's context is the postcommunist transition in Europe and Asia, but his findings carry implications for IMF activities the world over.

Author : Mark S. Copelovitch
Publisher : Cambridge University Press
Page : 395 pages
File Size : 42,8 Mb
Release : 2010-06-10
Category : Political Science
ISBN : 9781139485968

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The International Monetary Fund in the Global Economy by Mark S. Copelovitch Pdf

The explosive growth and increasing complexity of global financial markets are defining characteristics of the contemporary world economy. Unfortunately, financial globalization has been accompanied by a marked increase in the frequency and severity of financial crises. The International Monetary Fund (IMF) has taken a central role in managing these crises through its loans to developing countries. Despite extensive analysis and criticism of the IMF in recent years, key questions remain unanswered. Why does the Fund treat some countries more generously than others? To what extent is IMF lending driven by political factors rather than economic concerns? In whose interests does the IMF act? In this book, Mark Copelovitch offers novel answers to these questions. Combining statistical analysis with detailed case studies, he demonstrates how the politics and policies of the IMF have evolved over the last three decades in response to fundamental changes in the composition of international capital flows.

Author : Liam Clegg
Publisher : Springer
Page : 282 pages
File Size : 49,6 Mb
Release : 2013-06-03
Category : Political Science
ISBN : 9781137274557

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Controlling the World Bank and IMF by Liam Clegg Pdf

Liam Clegg provides an innovative reading of where power lies in the institutions' concessional lending operations, drawing its focus on shareholders and stakeholders from staffs' own understandings of their operational environments.

Author : Luca Papi,Andrea Presbitero,Alberto Zazzaro
Publisher : International Monetary Fund
Page : 56 pages
File Size : 52,9 Mb
Release : 2015-01-26
Category : Business & Economics
ISBN : 9781484308691

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IMF Lending and Banking Crises by Luca Papi,Andrea Presbitero,Alberto Zazzaro Pdf

This paper looks at the effects of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention is addressed by adopting an instrumental variable strategy and a propensity score matching estimator. Controlling for the standard determinants of banking crises, our results indicate that countries participating in IMF-supported lending programs are significantly less likely to experience a future banking crisis than nonborrowing countries. We also provide evidence suggesting that compliance with conditionality and loan size matter.

Author : Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados
Publisher : International Monetary Fund
Page : 548 pages
File Size : 51,8 Mb
Release : 2017-04-07
Category : Business & Economics
ISBN : 9781475547900

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Fiscal Politics by Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados Pdf

Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.

Author : Jean-Guillaume Poulain,Julien Reynaud
Publisher : International Monetary Fund
Page : 30 pages
File Size : 45,8 Mb
Release : 2017-07-10
Category : Business & Economics
ISBN : 9781484305867

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IMF Lending in an Interconnected World by Jean-Guillaume Poulain,Julien Reynaud Pdf

We analyze the determinants of IMF lending since the early nineties, a period during which the roles of financial cycles and interconnectedness as amplifiers and transmitters of economic crises have gained prominence. First, we show that the global financial cycle is an important driver of IMF lending cycles. Second, using a panel of 91 advanced, emerging, and frontier economies over 1992-2014, we show that global factors and interconnectedness, as proxied by a countries’ potential exposure to economic spillovers from trade partners, together with more traditional idiosyncratic factors, have a significant impact on the probability that a member country obtains financial assistance from the IMF. Our results are robust to various robustness checks. The approach presented in this paper can be used to assess future demand for IMF financial assistance.

Author : Robert John Myers
Publisher : Transaction Publishers
Page : 216 pages
File Size : 45,9 Mb
Release : 2024-06-30
Category : Business & Economics
ISBN : 1412838304

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The Political Morality of the International Monetary Fund by Robert John Myers Pdf

Questions of international debt, world economic growth rates, and demands by the Third World nations for a "new international economic order" have thrust two relatively unknown international institutions, the World Bank and the International Monetary Fund, into public prominence. Controversy over the IMF--which helps debtor countries balance current accounts and meet debt payments--enters on the "conditions" that the lending institution places on receiving nations. Basically, debtor countries are required to put their economic house in order, usually by decreasing imports, increasing exports, and eliminating subsidies on food, gasoline, and other goods. Often, it is such subsidies that allow a government to maintain political support and control. Thus, meeting the requirements of the IMF can lead to domestic instability, as the riots in the Dominican Republic illustrated. Critics of the IMF often agree with the economic medicine but decry the side effects of the cure. Is enough attention being paid to the diversity of the debt-troubled nations? Is there a separate set of standards for the borrowers and the lenders in the IMF decision-making process? Is the IMF lending process fair? What are the often unintended effects of the IMF on foreign policy?