ENGLISH

The IMF and Economic Development

By James Raymond Vreeland

Book information

Publisher
Cambridge University Press
Year
2003
ISBN
0521816750, 9780521816755, 0521016959, 9780521016957, 9780511615726
Open Library ID
OL22525516M
Language
english
Format
PDF
Filesize
637 kB (651920 bytes)
Pages
216\215
Topic
Economy
Time added
2011-04-11 19:55:47

Description

Why do governments turn to the International Monetary Fund (IMF) and with what effects? In this book, James Vreeland examines this question by analyzing cross-national time-series data from throughout the world. Vreeland argues that governments enter into IMF programs for economic and political reasons, and he finds that the programs hurt economic growth and redistribute income upward. By bringing in the IMF, governments gain political leverage - via conditionality - to push through unpopular policies. For certain constituencies, these policies dampen the effects of bad economic performance by redistributing income. But IMF programs doubly hurt others who are less well off: They lower growth and exacerbate income inequality.

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