Over‐optimism and the IMF

Graham Bird

The World Economy, 2005, vol. 28, issue 9, 1355-1373

Abstract: One way of assessing the impact of IMF programmes is to see whether performance and policy targets are achieved. However, does a failure to hit targets mean that the programmes have been unsuccessful, or could it be that targets have been too ambitious? This paper analyses political economy factors impinging on governments and on the IMF that may lead to serial over‐optimism. It goes on to examine the empirical evidence that is consistent with over‐optimism. Having considered whether over‐optimism is a cause for concern, and concluded that it is, the paper considers reforms that would allow realism to replace it. By eliminating over‐optimism it is argued that the psychology of failure surrounding IMF programmes could be significantly reduced or even broken.

Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://doi.org/10.1111/j.1467-9701.2005.00737.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:worlde:v:28:y:2005:i:9:p:1355-1373

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0378-5920

Access Statistics for this article

The World Economy is currently edited by David Greenaway

More articles in The World Economy from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().