IMF, World Bank and Development by Alberto Paloni, Maurizio Zanardi

By Alberto Paloni, Maurizio Zanardi

The debate on even if the foreign financial Fund and global financial institution and their intervention innovations are a good strength for swap within the constructing global maintains to rage. that includes either macroeconomic and microeconomic techniques, this ebook brings jointly a world group of individuals and centres upon 3 extensive themes:

  • the ideology of the IMF and global Bank
  • poverty reduction
  • conditionality.

In exploring those issues, this publication might be a invaluable reference for postgraduate scholars and pros within the fields of improvement stories and political economy.

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Extra resources for IMF, World Bank and Development

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In this chapter, Weeks also discusses several reforms of the PRS process that are necessary if this is to be consistent with national ownership. Most importantly, the PRS process should be established within existing national planning institutions and the PRS document should be a development strategy, that is, a political programme debated and endorsed by formal representative institutions, above all national parliaments. In the chapter ‘What does ownership mean in practice? Policy learning and the evolution of pro-poor policies in Uganda’, Oliver Morrissey and Arjan Verschoor aim to clarify the concept of ownership of policy reform.

This demonstrates that, while trade liberalization can be beneficial when an industry reaches a certain level of maturity, it should be selective and gradual, or it may lead to destruction of the existing industries—particularly those that are at early stages of infancy—without necessarily leading to the emergence of new ones. Moreover, the ones that emerge would be in line with static, rather than dynamic, comparative advantage. In the chapter ‘Integrating poverty reduction in IMF-World Bank models’, Brigitte Granville and Sushanta Mallick extend the growth-oriented adjustment framework— originally proposed by Khan et al.

In the chapter, Killick assesses whether this is likely to be very significant and, in this context, he raises two points for concern. The first is the depth of the Fund’s response. This has concentrated on streamlining conditionality. This exercise, however, has been limited to structural conditionality (which is less binding) without significantly affecting other traditional areas of conditionality, particularly macroeconomic policies. Streamlining, therefore, may not mark any real move away from reliance on conditionality per se.

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