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IMF Conditionality and the Theory of Special Interest Politics1

Author

Listed:
  • Wolfgang Mayer

    (University of Cincinnati, Cincinnati, OH 45221, USA.)

  • Alex Mourmouras

    (International Monetary Fund, Washington, DC 20431, USA)

Abstract

This paper presents an analytical discussion of IMF conditionality based on the theory of special interest politics. We outline a simple political–economy model of special interest group politics, extended to include the interaction of the IMF with the government of a country making use of IMF resources. Conditional lending turns the IMF into a benevolent lobby that can exert beneficial impacts on the government's policy choices. In addition to addressing the international spillover effects of national economic policies, conditionality can help reduce policy inefficiencies generated by domestic conflicts of interest and limited ownership. Comparative Economic Studies (2004) 46, 400–422. doi:10.1057/palgrave.ces.8100064

Suggested Citation

  • Wolfgang Mayer & Alex Mourmouras, 2004. "IMF Conditionality and the Theory of Special Interest Politics1," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(3), pages 400-422, September.
    • Handle: RePEc:pal:compes:v:46:y:2004:i:3:p:400-422
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    Cited by:

    1. ., 2016. "Introduction and overview: the purposes and operations of the IMF," Chapters, in: The International Monetary Fund, chapter 1, pages 1-18, Edward Elgar Publishing.
    2. Oscar Calvo-Gonzalez, 2007. "Ownership and conditionality in IMF-supported programs: Back to Per Jacobsson’s time," The Review of International Organizations, Springer, vol. 2(4), pages 329-343, December.
    3. Graham Bird, 2007. "The Imf: A Bird'S Eye View Of Its Role And Operations," Journal of Economic Surveys, Wiley Blackwell, vol. 21(4), pages 683-745, September.
    4. Ozlem Arpac & Graham Bird, 2009. "Turkey and the IMF: A case study in the political economy of policy implementation," The Review of International Organizations, Springer, vol. 4(2), pages 135-157, June.
    5. Arpac, Ozlem & Bird, Graham & Mandilaras, Alex, 2008. "Stop Interrupting: An Empirical Analysis of the Implementation of IMF Programs," World Development, Elsevier, vol. 36(9), pages 1493-1513, September.

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