A Public Choice Perspective of IMF and World Bank Lending and Conditionality |
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| Authors: | Dreher Axel |
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| Affiliation: | 1. Lehrstuhl für Volkswirtschaftslehre, University of Mannheim, L7, 3-5, D-68131, Mannheim, Germany
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| Abstract: | The paper explains IMF and World Banklending and conditionality stressingchanges in relative bargaining power ofdifferent stakeholders over time. Itapplies public choice theory to explain theinterests of the institutions' memberstates, its borrowers and staffs as well asprivate actors attaching their money to theIFIs' programs. Using panel data for 43countries between 1987–99 it is shown thatthe number of Fund conditions seems to beinfluenced by contemporaneous World Bankactivity and ``bad'' policies. |
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