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The catalyzing role of policy-based lending by the IMF and the World Bank: fact or fiction? Author info | Abstract | Publisher info | Download info | Related research | Statistics Graham Bird (Surrey Centre for International Economic Studies, University of Surrey, Guildford, UK)
Dane Rowlands (Norman Paterson School of International Affairs, Carleton University, Ottawa, Canada)
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Does the involvement of the IMF and World Bank in developing countries and countries in transition help them to attract capital from other sources? Do the multilateral institutions exert a catalytic effect? While there is a strong body of opinion that claims that they do, the catalytic effect has been under-researched. This paper briefly reports the results from a research project financed by the UK Department for International Development. It examines the theory behind catalysis and also investigates the empirical evidence relating to it, drawing on qualitative research, regression analysis based on a large sample of developing countries, and systematic case studies. The analysis shows how the catalytic effect is nuanced and complex but that overall it is weak. The catalyzing role of the IMF and the World Bank remains potentially important, however, and the paper assesses ways in which it may be strengthened. Reforms are discussed in the context of the debate over a new international financial architecture. Copyright © 2000 John Wiley & Sons, Ltd.
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Article provided by John Wiley & Sons, Ltd. in its journal Journal of International Development .
Volume (Year): 12 (2000)
Issue (Month): 7 ()
Pages: 951-973
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Handle: RePEc:wly:jintdv:v:12:y:2000:i:7:p:951-973Contact details of provider: Web page: http://www3.interscience.wiley.com/journal/5102/home
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Classens, S. & Dooley, M.P. & Warner, A., 1995.
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Bird, Graham & Orme, Timothy, 1981.
"An analysis of drawings on the international monetary fund by developing countries ,"
World Development ,
Elsevier, vol. 9(6), pages 563-568, June.
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Collier, Paul & Guillaumont, Patrick & Guillaumont, Sylviane & Gunning, Jan Willem, 1997.
"Redesigning conditionality ,"
World Development ,
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Edwards, Sebastian, 1989.
"The international monetary fund and the developing countries: A critical evaluation ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 31(1), pages 7-68, January.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Graham Bird & Dane Rowlands, 2005.
"The IMF and the Mobilization of Foreign Aid ,"
Department of Economics Discussion Papers
1105, Department of Economics, University of Surrey.
[Downloadable!]
Other versions: Hicks, Robert & Parks, Bradley & Tierney, Michael, 2005.
"Explaining the Allocation of Bilateral and Multilateral Environmental Aid to Developing Countries ,"
2005 Annual meeting, July 24-27, Providence, RI
19346, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
[Downloadable!]
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