Master Or Servant Common Agency And The Political Economy Of Imf Lending PDF Download
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Author | : Mark Copelovitch |
Publisher | : |
Total Pages | : 49 |
Release | : 2009 |
Genre | : |
ISBN | : |
Download Master or Servant? Common Agency and the Political Economy of IMF Lending Book in PDF, ePub and Kindle
What explains the substantial variation in the International Monetary Fund's lending policies over time and across cases? Some scholars argue that the IMF is the servant of the United States and other powerful member-states, while others contend that the Fund's professional staff acts independently in pursuit of its own bureaucratic interests. I argue that neither of these perspectives, on its own, fully and accurately explains IMF lending behavior. Rather, I propose a quot;common agencyquot; theory of IMF policymaking, in which the Fund's largest shareholders - the G-5 countries that exercise de facto control over the Executive Board - act collectively as its political principal. Using this framework, I argue that preference heterogeneity among G-5 governments is a key determinant of variation in IMF loan size and conditionality. Under certain conditions, G-5 preference heterogeneity leads to conflict or quot;logrollingquot; within the Executive Board, while in others it creates scope for the IMF staff to exploit quot;agency slackquot; and increase its policymaking autonomy. Statistical analysis of an original dataset of 197 non-concessional IMF lending to 47 countries from 1984 to 2003 yields strong support for this framework and its empirical predictions. In clarifying the politics of IMF lending, the article sheds light on the merits of recent policy proposals to reform the Fund and its decision-making rules. More broadly, it furthers our understanding of delegation, agency, and the dynamics of policymaking within international organizations (IOs).
Author | : John Williamson |
Publisher | : |
Total Pages | : 84 |
Release | : 1982 |
Genre | : Business & Economics |
ISBN | : |
Download The Lending Policies of the International Monetary Fund Book in PDF, ePub and Kindle
Now available directly from: IIE 11 Dupont Circle, NW Washington, DC 20036 Tel: (202) 328-9000
Author | : M. Rodwan Abouharb |
Publisher | : Elements in International Relations |
Total Pages | : 125 |
Release | : 2024-02-29 |
Genre | : Business & Economics |
ISBN | : 1009451154 |
Download IMF Lending Book in PDF, ePub and Kindle
This Element argues that governments seek political advantage during turbulent economic times from IMF programs to protect their supporters.
Author | : Luca Papi |
Publisher | : International Monetary Fund |
Total Pages | : 56 |
Release | : 2015-01-26 |
Genre | : Business & Economics |
ISBN | : 1498331629 |
Download IMF Lending and Banking Crises Book in PDF, ePub and Kindle
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 | : Pamela Blackmon |
Publisher | : Taylor & Francis |
Total Pages | : 141 |
Release | : 2017-01-20 |
Genre | : Business & Economics |
ISBN | : 1317672925 |
Download The Political Economy of Trade Finance Book in PDF, ePub and Kindle
Export Credit Agencies provide insurance and guarantees to domestic firms in the event that payment is not received from an importer. Thus, ECAs reduce uncertainties domestic firms face in exporting their goods. Most countries have ECAs that operate as official or quasi-official branches of their governments and they therefore represent an important part of government strategies to facilitate trade, promote domestic industry and distribute foreign aid. The Political Economy of Trade Finance provides a detailed analysis as to how firms use the medium and longer-term financing provided by ECAs to export goods to developing countries. It also explains how ECA arrears have contributed to the debt of developing countries and illustrates how the commercial interests of ECA activity are evident in decisions about IMF arrangements and related to Paris Club debt rescheduling agreements. Finally, the book documents how the medium and longer-term export credit insurance support provided by the G-7 ECAs was a central component in mitigating steep declines in international trade during the 2008 Global Financial Crisis. This book is of great interest to both academics and students in the field of political economy, finance and politics of international trade. It is also of importance to policy makers.
Author | : John Idriss Lahai |
Publisher | : Springer |
Total Pages | : 305 |
Release | : 2018-07-21 |
Genre | : Social Science |
ISBN | : 3319907492 |
Download Governance and Political Adaptation in Fragile States Book in PDF, ePub and Kindle
The book examines the various ways that fragile states (or states with limited statehood) in Africa, Asia, the Pacific, and the Americas have adopted, and adapted to, the processes of liberal political governance in their quests to address the problem of political fragility. It presents the stories of resilience in the political adaptation to Western liberal conceptions of governance. In addition to singular or comparative country case studies, this project also examines the interplay of culture, identities, and politics in the creation of people-centric governance reforms. Towards these ends, this volume sheds light on weak states’ often constructive engagement in the promotion of state governance with a variety of political conditions, adverse or otherwise; and their ability to remain resilient despite the complex political, sociocultural, and economic challenges affecting them. Through a multidisciplinary approach, the authors aim to counter the noticeable shortcomings in the discursive representations of fragility, and to contribute a more balanced examination of the narratives about and impact of political adaption and governance in people’s lives and experiences.
Author | : Stefanie Walter |
Publisher | : Cambridge University Press |
Total Pages | : 273 |
Release | : 2013-10-31 |
Genre | : Business & Economics |
ISBN | : 1107028701 |
Download Financial Crises and the Politics of Macroeconomic Adjustments Book in PDF, ePub and Kindle
This book explains why governments respond differently to macroeconomic problems and why necessary reforms are sometimes delayed until a serious financial crisis erupts. It argues that voter vulnerability to different reform strategies varies, and that these vulnerabilities influence the type and timing of governments' policy responses to economic crises. Empirical analyses at both the individual level across a broad range of countries and case studies of national policy responses to financial and economic crises in Asia and Eastern Europe support the argument.
Author | : Isabella Alcañiz |
Publisher | : Cambridge University Press |
Total Pages | : 231 |
Release | : 2016-08-18 |
Genre | : Political Science |
ISBN | : 1316790967 |
Download Environmental and Nuclear Networks in the Global South Book in PDF, ePub and Kindle
For decades, expert bureaucrats have been moving regularly across borders, from their home institutions to international organizations, and forging collaborative networks with peers. Analyzing over twenty years of environmental and nuclear technology projects data for 150 countries, this book provides a comprehensive study of international cooperation among elite bureaucrats in developing states. An empirical study that will interest researchers, undergraduate, and graduate students of political and social sciences, this is the first book to explain the causes of transnational cooperation in the Global South and find a link between domestic level of skills and international cooperation. The author methodically illustrates how state experts with high skills can reap the benefits of international technical cooperation. In contrast, bureaucrats with low skills cannot forge stable collaborative ties with foreign peers and gain little from participating in these transgovernmental networks.
Author | : Erin R. Graham |
Publisher | : Oxford University Press |
Total Pages | : 224 |
Release | : 2023-07-31 |
Genre | : Business & Economics |
ISBN | : 0198877935 |
Download Transforming International Institutions Book in PDF, ePub and Kindle
Transforming International Institutions illuminates how a slow, quiet, subterranean process can produce big, radical change in international institutions and organizations. Drawing on historical institutionalism and interpretive tools of international law, Graham provides a novel theory of uncoordinated change over time. It highlights how early participants in a process who do not foresee the transformative potential of their acts, but nonetheless enable subsequent actors to push change in new directions to profound effect. Graham deploys this to explain how changes in UN funding rules in the 1940s and 1960s--perceived as small and made to solve immediate political disagreements--ultimately sidelined multilateral governance at the United Nations in the twenty-first century. The perception of funding rules as marginal to fundamental principles of governance, and the friendly orientation of change-initiators toward the UN, enabled this quiet transformation. Challenging the UN's reputation for rigidity and its status as a bastion of egalitarian multilateralism, Transforming International Institutions demonstrates that the UN system is susceptible to subtle change processes and that its egalitarian multilateralism governs only a fraction of the UN's operational work.
Author | : Mark T. Buntaine |
Publisher | : Oxford University Press |
Total Pages | : 305 |
Release | : 2016 |
Genre | : Political Science |
ISBN | : 0190467452 |
Download Giving Aid Effectively Book in PDF, ePub and Kindle
In 'Giving Aid Effectively', Mark T. Buntaine argues that countries that are members of international organizations have prompted multilateral development banks to give development and environmental aid more effectively by generating better information about performance.