Development Finance and Policy Reform: Essays in the Theory and Practice of Conditionality in Less Developed Countries (International Political Economy Series)

Conditionality has long been used by the IMF, and more recently by World Bank and bilateral donors, as an instrument for improving the effectiveness of international finance. This collection of essays, by representatives of donors and recipients as well as independent observers, suggests that because of recipients'increased bargaining power, such an improvement has seldom resulted. Front Matter....Pages i-xi Introduction....Pages 1-5 Front Matter....Pages 7-7 Policy-Based Lending by the World Bank....Pages 9-24 Conditionality in Policy-Based Lending in Africa: USAID Experience....Pages 25-53 Policy-Based Lending: an ODA Perspective....Pages 54-81 Front Matter....Pages 83-83 Interest Group Politics and the Implementation of Adjustment Policies in Sub-Saharan Africa....Pages 85-104 Consolidating Economic Adjustment: Aspects of the Political Economy of Sustained Reform....Pages 105-128 A Theory of Conditionality....Pages 129-153 Front Matter....Pages 155-155 Adjustment Programmes and World Bank Support: Rationale and Main Results....Pages 157-175 The Many Faces of Adjustment....Pages 176-231 The Social Dimension of Economic Adjustment Programmes: Economic Feedbacks and Implications for Medium and Long-Term Growth....Pages 232-255 Front Matter....Pages 257-257 The International Monetary Fund in Eastern Europe: Lessons of the 1980s and Prospects for the 1990s....Pages 259-290 Adjusting Structural Adjustment: Getting Beyond the UNICEF Compromise....Pages 291-308 Good Governance: Democracy and Conditional Economic Aid....Pages 309-316 Back Matter....Pages 317-338 Conditionality has long been used by the IMF, and more recently by World Bank and bilateral donors, as an instrument for improving the effectiveness of international finance. This collection of essays, by representatives of donors and recipients as well as independent observers, suggests that because of recipients' increased bargaining power, such an improvement has seldom resulted A study of how industrial policy and targeting accelerated Japanese economic development and affected the rest of the world. This book considers who targeted industries, how they were chosen and what techniques were used to support them. It examines both theory and practice of targeting. As an instrument of international economics, conditionality is increasing. During the last decade the World Bank, the bilateral aid agencies and more recently the European Bank for Reconstruction and Development have made extensive use of conditionality. This book examines this process