The IMF and Economic Development
By (author) James Raymond Vreeland
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IMF and Economic Development by James Raymond Vreeland
Book DescriptionWhy do governments turn to the International Monetary Fund (IMF) and with what effects? This book argues that governments enter IMF programs for economic and political reasons, and finds that the effects are negative on economic growth and income distribution. By bringing in the IMF, governments gain political leverage - via conditionality - to push through unpopular policies. Note that if governments desiring conditions are more likely to participate, estimating program effects is not straightforward: one must control for the potentially unobserved political determinants of selection. This book addresses the selection problem using a dynamic bivariate version of the Heckman model analyzing cross-national time-series data. The main finding is that the negative effects of IMF programs on economic growth are mitigated for certain constituencies since programs also have distributional consequences. But IMF programs doubly hurt the least well off in society: they lower growth and shift the income distribution upward.
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Book DetailsISBN: 9780521816755
(228mm x 152mm x 16mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 3-Mar-2003
Country of Publication: United Kingdom
Books By Author James Raymond Vreeland
Political Economy of the United Nations Security Council, Paperback (May 2014)
This book investigates the ways governments trade money for favors at the United Nations Security Council.
Globalization and the Nation State, Hardback (March 2005)
This book brings together an international team of contributors to assess the political economy of the IMF and World Bank programs. Contributors include Stephen Coate, Stephen Morris, Ravi Kanbur and Allen Drazen.
International Monetary Fund (IMF), Paperback (February 2005)
Provides an introduction to the International Monetary Fund (IMF) and an overview of its debates and controversies. This book addresses questions, such as: 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?
IMF and Economic Development, Paperback (March 2003)» View all books by James Raymond Vreeland
This book argues that governments enter IMF programs for economic and political reasons.
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