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The Viability of Economic Reform Programs Supported by the International Financial Institutions

  • Graham Bird

    (University of Surrey)

  • Wolfgang Mayer

    (University of Cincinnati)

  • Alex Mourmouras

    (IMF Institute)

In seeking to make programs of economic reform supported by the IFIs more successful it is important to ensure that they are viable. Will governments be persuaded to participate? Will they complete the programs they negotiate? And will the IFIs be prepared to provide the resources? This paper formally analyses the factors influencing viability. It examines the constraints on participation and the need for incentive compatibility. The analysis identifies the threats to viability and the direction that reform should take. It places the effectiveness of programs firmly within a political economy framework and extends recent theories of program implementation by examining participation from the viewpoint of both the governments that demand assistance and the IFIs that supply it.

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Paper provided by School of Economics, University of Surrey in its series School of Economics Discussion Papers with number 0605.

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Length: 29 pages
Date of creation: Mar 2005
Date of revision:
Handle: RePEc:sur:surrec:0605
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  1. Graham Bird, 2006. "The Implementation of IMF Programs: A Conceptual Framework," School of Economics Discussion Papers 1506, School of Economics, University of Surrey.
  2. Graham Bird & Thomas D Willett, 2004. "IMF Conditionality, Implementation and the New Political Economy of Ownership," Comparative Economic Studies, Palgrave Macmillan, vol. 46(3), pages 423-450, September.
  3. Grossman, Gene M & Helpman, Elhanan, 1994. "Protection for Sale," American Economic Review, American Economic Association, vol. 84(4), pages 833-50, September.
  4. Wolfgang Mayer & Alex Mourmouras, 2005. "On the Viability of Conditional Assistance Programs," IMF Working Papers 05/121, International Monetary Fund.
  5. Alex Mourmouras & Wolfgang Mayer, 2002. "Vested Interests in a Positive Theory of IFI Conditionality," IMF Working Papers 02/73, International Monetary Fund.
  6. 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.
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