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What Determines the Implementation of IMF-Supported Programs?Anna IvanovaInternational Monetary Fund (IMF) - European Department Wolfgang MayerUniversity of Cincinnati - McMicken College of Arts and Sciences - Department of Economics Alexandros Mourmourasaffiliation not provided to SSRN George Anayiotosaffiliation not provided to SSRN January 2003 IMF Working Paper No. 03/8 Abstract: This paper assesses the implementation of IMF-supported programs using measures of program interruptions, compliance with conditionally, and the share of committed funds disbursed. The econometric model allows an evaluation of the importance for program implementation of political conditions in borrowing countries, IMF effort, conditionally, as well as initial and external conditions. The paper concludes that program implementation depends primarily on borrowing countries` domestic political economy. Strong special interests, political instability, inefficient bureaucracies, lack of political cohesion, and ethno-linguistic divisions weaken program implementation. IMF effort, the extent and structure of conditionally, and initial and external conditions do not materially influence program prospects.
Number of Pages in PDF File: 48 Keywords: IMF-supported programs, conditionally, ownership JEL Classification: E61, F33, F34 working papers seriesDate posted: January 27, 2006Suggested CitationContact Information
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