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The institutional failures of International Monetary Fund conditionality |
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| Authors: | Jean-Pierre Allegret Philippe Dulbecco | ||
| Affiliation: | 1. école Normale Supérieure Lettres et Sciences Humaines GATE—CNRS, University of Lumière Lyon 2, Bureau R131 15, Parvis René Descartes, BP 7000, 69342, Lyon cedex 07, France 2. University of Auvergne Clermont 1, CERDI—65 boulevard Fran?ois Mitterrand, 63000, Clermont Ferrand, France |
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| Abstract: | The purpose of this paper is to propose an analytical framework integrating the diverse explanations of the failure of IMF conditionality. The IMF is a key player in the running of markets in a global economy. The institutional failures of IMF conditionality are appreciated at two complementary levels: (a) its intrinsic bureaucratic bias, and (b) the inability of the IMF to manage the institutional change required for the development of market processes. A new approach of conditionality suggests the separation of the role of the IMF as financial backer from its role as adviser to countries confronted by the globalization process.
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| Keywords: | Conditionality Institutional changes International Monetary Fund Public choice | ||
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