The Implementation of IMF Programmes: A Conceptual Framework and a Policy Agenda

Graham Bird

No 1003, School of Economics Discussion Papers from School of Economics, University of Surrey

Abstract: The success of IMF supported programmes has conventionally been assessed by examining their effects on intermediate variables such as fiscal deficits, monetary growth and exchange rates, and final outcomes, such as the balance of payments, inflation and economic growth. However, little or no distinction has been made between those countries that implement the conditions incorporated into programmes and those that do not. More recently greater attention has been paid to implementation on the assumption that in order to work programmes need to be implemented. Empirical studies have begun to include political economy variables in an attempt to explain implementation. They have used the concept of ‘ownership’ to provide a theoretical framework. This paper provides an alternative conceptual framework based on the marginal benefits and costs of implementation. It goes on to discuss a range of policies that might be expected to improve implementation.

Pages: 45 pages
Date: 2003-08
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sur:surrec:1003

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