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A Non-Definitive Guide to the IMF


  • Graham Hacche


The recent book by James R. Vreeland, The International Monetary Fund: Politics of Conditional Lending, is meant to provide “a definitive guide to the organization†. This review article argues that it falls well short of this ambitious aim. It is already somewhat dated. It is almost entirely about IMF lending, largely neglecting surveillance, arguably the Fund’s most important activity. And although it provides a useful survey of the literature, its critique of IMF lending is based on interpretations of the empirical evidence and arguments of some IMF critics many of which are questionable. The book also suffers from various confusions and misunderstandings. It is therefore an unreliable guide to the organization.

Suggested Citation

  • Graham Hacche, 2007. "A Non-Definitive Guide to the IMF," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 8(2), pages 97-118, April.
  • Handle: RePEc:wej:wldecn:285

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    References listed on IDEAS

    1. Fearon, James D., 1995. "Rationalist explanations for war," International Organization, Cambridge University Press, vol. 49(03), pages 379-414, June.
    2. Akerlof, George A, 1991. "Procrastination and Obedience," American Economic Review, American Economic Association, vol. 81(2), pages 1-19, May.
    3. Abhijit V. Banerjee, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 797-817.
    4. Albert Breton & Gianluigi Galeotti & Pierre Salmon & Ronald Wintrobe, 1995. "Nationalism and Rationality," Post-Print hal-00445587, HAL.
    5. Katz, Michael L & Shapiro, Carl, 1985. "Network Externalities, Competition, and Compatibility," American Economic Review, American Economic Association, vol. 75(3), pages 424-440, June.
    6. repec:cup:apsrev:v:87:y:1993:i:03:p:567-576_10 is not listed on IDEAS
    7. Wintrobe,Ronald, 1998. "The Political Economy of Dictatorship," Cambridge Books, Cambridge University Press, number 9780521583299, March.
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    Cited by:

    1. Axel Dreher & Silvia Marchesi & James Vreeland, 2008. "The political economy of IMF forecasts," Public Choice, Springer, vol. 137(1), pages 145-171, October.
    2. Axel Dreher & Silvia Marchesi & James Raymond Vreeland, 2007. "The Politics of IMF Forecasts," KOF Working papers 07-176, KOF Swiss Economic Institute, ETH Zurich.

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