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The Political Economy of Project Preparation: An Empirical Analysis of World Bank Projects

In the last few years, numerous econometric studies have unearthed evidence of donor influence over the geographic distribution of funds from international financial institutions (IFIs). Scholars are now beginning to use quantitative methods to delve into the details of donor influence to understand better how IFIs function and to guide institutional reform. The evidence suggests that donors influence both the amount of funds committed (the number and size of loans) and the disbursement of committed funds. This paper advances the literature by applying stochastic frontier analysis to a novel data source to examine factors that affect how quickly World Bank projects proceed from identification to approval, i.e., how long it takes to prepare a project. Accelerated preparation is one explanation for how the World Bank might increase the number of loans to a recipient member country within a fixed time frame, for example in response to that country siding with powerful donor countries on important UN votes or while that country occupies an elected seat on the UN Security Council or the World Bank Executive Board.

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File URL: http://repec.library.villanova.edu/workingpapers/VSBEcon14.pdf
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Paper provided by Villanova School of Business Department of Economics and Statistics in its series Villanova School of Business Department of Economics and Statistics Working Paper Series with number 14.

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Date of creation: Jul 2011
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Handle: RePEc:vil:papers:14
Contact details of provider: Web page: http://www.villanova.edu/business/facultyareas/economics/

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  13. Fleck, Robert K. & Kilby, Christopher & Fleck, Robert K., 2001. "World Bank Independence: A Model and Statistical Analysis of U.S. Influence," Vassar College Department of Economics Working Paper Series 53, Vassar College Department of Economics.
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  22. Smets, Lodewijk & Knack, Stephen & Molenaers, Nadia, 2012. "Political ideology, quality at entry and the success of economic reform programs," Policy Research Working Paper Series 6130, The World Bank.
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  25. Frey, Bruno S. & Schneider, Friedrich, 1986. "Competing models of international lending activity," Journal of Development Economics, Elsevier, vol. 20(2), pages 225-245, March.
  26. Kilby, Christopher, 2009. "The political economy of conditionality: An empirical analysis of World Bank loan disbursements," Journal of Development Economics, Elsevier, vol. 89(1), pages 51-61, May.
  27. Christopher Kilby, 2009. "Donor influence in international financial institutions: Deciphering what alignment measures measure," Villanova School of Business Department of Economics and Statistics Working Paper Series 8, Villanova School of Business Department of Economics and Statistics.
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