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From Project Based Lending to Policy Based Lending: An Evaluation of Structural Adjustment Lending Policy of World Bank

Author

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  • Gadde OMPRASAD

    (Sikkim University, India.)

Abstract

World Bank lending policies have seen considerable changes in the last half a century. Though the main objectives of establishment of World Bank after the second World War was to provide financial assistance and participate in the reconstruction of the post war devastated economies but within fifty years of its foundation, World Bank has changed its sole objective from providing project based lending to sectoral interference in the economies with policy prescriptions. This policy shift from the World Bank side has witnessed new programmes of lending called Structural Adjustment Loans. This article reviews the original objectives of the Bank and the transformation towards Structural Adjustment Lending which has changed the basic economic policies of many borrower countries and the economies of the world.

Suggested Citation

  • Gadde OMPRASAD, 2016. "From Project Based Lending to Policy Based Lending: An Evaluation of Structural Adjustment Lending Policy of World Bank," Journal of Social and Administrative Sciences, KSP Journals, vol. 3(1), pages 56-62, March.
    • Handle: RePEc:ksp:journ4:v:3:y:2016:i:1:p:56-62
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    References listed on IDEAS

    as
    1. Gilbert,Christopher L. & Vines,David (ed.), 2000. "The World Bank," Cambridge Books, Cambridge University Press, number 9780521790956.
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    Cited by:

    1. Samuel Brazys & Krishna Chaitanya Vadlamannati & Tianyang Song, 2019. "Which Wheel Gets the Grease? Constituent Agency and Sub-national World Bank Aid Allocation," Working Papers 201907, Geary Institute, University College Dublin.

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    More about this item

    Keywords

    World Bank; conditionality; Structural Adjustment Loans; Macroeconomic policies.;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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