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The Completion Rate of IMF Programmes: What We Know, Don't Know and Need to Know

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  • Graham Bird

Abstract

Although a great deal of attention has been paid to IMF conditionality and to the effects of IMF programmes, relatively little attention has been paid to their completion rate. However, the record is that the clear majority of Fund programmes are uncompleted. Is this a cause for concern and why is it that the completion rate is low? In principle, a number of factors could be at work. Gaining a better understanding of what these are should allow policy reform at the IMF to improve performance. While there are things that we do not know and need to know about programme completion, we know enough to delineate the broad direction that policy should take. Copyright Blackwell Publishers Ltd 2002.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal The World Economy.

Volume (Year): 25 (2002)
Issue (Month): 6 (06)
Pages: 833-847

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Handle: RePEc:bla:worlde:v:25:y:2002:i:6:p:833-847

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Cited by:
  1. Michael M. Hutchison, 2004. "Selection Bias and the Output Costs of IMF Programs," EPRU Working Paper Series 04-15, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
  2. Dreher, Axel, 2005. "IMF and Economic Growth: The Effects of Programs, Loans, and Compliance with Conditionality," Proceedings of the German Development Economics Conference, Kiel 2005 11, Verein für Socialpolitik, Research Committee Development Economics.
  3. Hutchison, Michael M. & Noy, Ilan, 2003. "Macroeconomic effects of IMF-sponsored programs in Latin America: output costs, program recidivism and the vicious cycle of failed stabilizations," Journal of International Money and Finance, Elsevier, vol. 22(7), pages 991-1014, December.
  4. Graham Bird, 2005. "Over-optimism and the IMF," School of Economics Discussion Papers 0505, School of Economics, University of Surrey.
  5. Fabian Fink & Almuth Scholl, 2011. "A Quantitative Model of Sovereign Debt, Bailouts and Conditionality," Working Paper Series of the Department of Economics, University of Konstanz 2011-46, Department of Economics, University of Konstanz.
  6. Graham Bird, 2004. "The IMF Forever: An Analysis of the Prolonged Use of Fund Resources," Journal of Development Studies, Taylor & Francis Journals, vol. 40(6), pages 30-58.
  7. Graham Bird, 2008. "The implementation of IMF programs: A conceptual framework," The Review of International Organizations, Springer, vol. 3(1), pages 41-64, March.

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