IMF-supported programs : recent staff research / edited by Ashoka Mody and Alessandro Rebucci.

Format:

Book

Government document

Contributor:

Mody, Ashoka.

Rebucci, Alessandro.

International Monetary Fund.

Language:

English

Subjects (All):

International Monetary Fund--Research.

International Monetary Fund.

Research.

Physical Description:

xviii, 274 pages : illustrations ; 28 cm

Other Title:

International Monetary Fund-supported programs

Place of Publication:

Washington, D.C. : International Monetary Fund, [2006]

Summary:

Research work by the IMF's staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to "open up the black box" by more closely examining program design and implementation, as well as how these influence programs' effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries' economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF's general principle of uniformity of treatment.--Publisher's description.

Contents:

Overview / Ashoka Mody and Alessandro Rebucci

Program objectives and program success / Atish Ghosh, Timothy Lane, Alun Thomas, and Juan Zalduendo

IMF programs and growth: is optimism defensible? / Reza Baqir, Rodney Ramcharan, and Ratna Sahay

Do IMF-supported programs boost private capital inflows? The role of program size and policy adjustment / Roberto Benelli

Macroeconomic adjustment in IMF-supported programs: projections and reality / Ruben Atoyan, Patrick Conway, Marcelo Selowsky, and Tsidi Tsikata

Fiscal policy, expenditure composition, and growth in low-income countries / Sanjeev Gupta, Benedict Clements, Emanuele Baldacci, and Carlos Mulas-Granados

Efficiency and legitimacy: trade-offs in IMF governance / Carlo Cottarelli

IMF conditionality and country ownership of adjustment programs / Mohsin S. Khan and Sunil Sharma

Different strokes? Common and uncommon responses to financial crises / James M. Boughton

Institutions, program implementation, and macroeconomic performance / Saleh M. Nsouli, Ruben Atoyan, and Alex Mourmouras

What determines the implementation of IMF-supported programs? / Anna Ivanova, Wolfgang Mayer, Alex Mourmouras, and George Anayiotos

International bailouts, moral hazard, and conditionality / Olivier Jeanne and Jeromin Zettelmeyer

Bedfellows, hostages, or perfect strangers? Global capital markets and the catalytic effect of IMF crisis lending / Carlo Cottarelli and Curzio Giannini

Keeping capital flowing: the role of the IMF / Michael Bordo, Ashoka Mody, and Nienke Oomes

Long-term fiscal developments and IMF conditionality: is there a link? / Aleš Bulíř and Soojin Moon

Evaluating IMF-supported programs in the 1990s: the importance of taking explicit account of stoppages / Chuling Chen and Alun Thomas.

Notes:

Includes bibliographical references.

ISBN:

1589063619

9781589063617

OCLC:

68044518