Independent Actor or Agent? An Empirical Analysis of the Impact of U.S. Interests on International Monetary Fund Conditions
In this paper, we analyze whether International Monetary Fund (IMF) conditionality is exclusively designed to be in line with observable economic indicators or whether it is partly driven by the IMF's major shareholder, the United States. A panel data analysis of 206 letters of intent from 38 countries, submitted during the period April 1997 through February 2003, revealed that the number of conditions on an IMF loan depended on a borrowing country's voting pattern in the UN General Assembly. Closer allies of the United States (and other Group of 7 [G7] countries) received IMF loans with fewer conditions, especially prior to elections. These results are relevant to current public policy debates on the role and process of setting IMF loan conditions and provide broader insight into the influence of the United States and other G7 countries on international institutions.
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.:
- Alex Mourmouras & Anna Ivanova & George C. Anayotos & Wolfgang Mayer, 2003. "What Determines the Implementation of IMF-Supported Programs?," IMF Working Papers 03/8, International Monetary Fund.
- Anne Krueger, 2006. "A response to Allan Meltzer," The Review of International Organizations, Springer, vol. 1(1), pages 61-64, March.
- Allan Meltzer, 2006. "Reviving the Bank and Fund," The Review of International Organizations, Springer, vol. 1(1), pages 49-59, March.
- Roland Vaubel & Axel Dreher & Uğurlu Soylu, 2007.
"Staff growth in international organizations: A principal-agent problem? An empirical analysis,"
Springer, vol. 133(3), pages 275-295, December.
- Roland Vaubel & Axel Dreher & Ugurlu Soylu, 2003. "Staff Growth in International Organizations: A Principal-Agent Problem? An Empirical Analysis," Public Economics 0306006, EconWPA, revised 08 Jul 2003.
- Boockmann, Bernhard & Dreher, Axel, 2003. "The contribution of the IMF and the World Bank to economic freedom," European Journal of Political Economy, Elsevier, vol. 19(3), pages 633-649, September.
- Bernhard Boockmann & Axel Dreher, 2002. "The Contribution of the IMF and the World Bank to Economic Freedom," International Finance 0207001, EconWPA.
- Boockmann, Bernhard & Dreher, Axel, 2002. "The Contribution of the IMF and the World Bank to Economic Freedom," ZEW Discussion Papers 02-18, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Helge Berger & Jakob de Haan & Jan-Egbert Sturm, 2005. "Which Variables Explain Decisions on IMF Credit? An Extreme Bounds Analysisï¿½," TWI Research Paper Series 13, Thurgauer Wirtschaftsinstitut, Universitï¿½t Konstanz.
- Richard Swedberg, 1986. "The Doctrine of Economic Neutrality of the IMF and the World Bank," Journal of Peace Research, Peace Research Institute Oslo, vol. 23(4), pages 377-390, December.
- Jan-Egbert Sturm & Helge Berger & Jakob de Haan, 2005. "Which Variables Explain Decisions On Imf Credit? An Extreme Bounds Analysis," Economics and Politics, Wiley Blackwell, vol. 17, pages 177-213, 07.
- Sturm, Jan-Egbert & Berger, Helge & de Haan, Jakob, 2004. "Which variables explain decisions on IMF credit? An extreme bounds analysis," Discussion Papers 2004/15, Free University Berlin, School of Business & Economics.
- Przeworski, Adam & Vreeland, James Raymond, 2000. "The effect of IMF programs on economic growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 385-421, August.
- Barro, Robert J. & Lee, Jong-Wha, 2005. "IMF programs: Who is chosen and what are the effects?," Journal of Monetary Economics, Elsevier, vol. 52(7), pages 1245-1269, October.
- Robert J. Barro & Jong-Wha Lee, 2002. "IMF Programs: Who is Chosen and What Are the Effects?," NBER Working Papers 8951, National Bureau of Economic Research, Inc.
- Robert J Barro & Jong-Wha Lee, 2003. "IMF Programs: Who Is Chosen and What Are the Effects?," Departmental Working Papers 2003-09, The Australian National University, Arndt-Corden Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:ucp:jlawec:y:2007:v:50:i:1:p:105-24. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.