The IMF and Economic Development |
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| Author:
| Vreeland, James Raymond |
| ISBN: | 978-0-521-81675-5 |
| Publication Date: | Mar 2003 |
| Publisher: | Cambridge University Press
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| Book Format: | Hardback |
| List Price: | AUD $94.95 |
Book Description:
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Why do governments turn to the International Monetary Fund (IMF) and with what effects? This book argues that governments enter IMF programs for economic and political reasons, and finds that the effects are negative on economic growth and income distribution. By bringing in the IMF, governments gain political leverage-via conditionality-to push through unpopular policies. For certain constituencies, these policies dampen the effects of bad economic performance by redistributing...
More DescriptionWhy do governments turn to the International Monetary Fund (IMF) and with what effects? This book argues that governments enter IMF programs for economic and political reasons, and finds that the effects are negative on economic growth and income distribution. By bringing in the IMF, governments gain political leverage-via conditionality-to push through unpopular policies. For certain constituencies, these policies dampen the effects of bad economic performance by redistributing income. But IMF programs doubly hurt the least well off in society: they lower growth and shift the income distribution upward.