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The Viability of Economic Reform Programs Supported by the International Financial Institutions

Author

Listed:
  • Graham Bird

    (University of Surrey)

  • Wolfgang Mayer

    (University of Cincinnati)

  • Alex Mourmouras

    (IMF Institute)

Abstract

In seeking to make programs of economic reform supported by the IFIs more successful it is important to ensure that they are viable. Will governments be persuaded to participate? Will they complete the programs they negotiate? And will the IFIs be prepared to provide the resources? This paper formally analyses the factors influencing viability. It examines the constraints on participation and the need for incentive compatibility. The analysis identifies the threats to viability and the direction that reform should take. It places the effectiveness of programs firmly within a political economy framework and extends recent theories of program implementation by examining participation from the viewpoint of both the governments that demand assistance and the IFIs that supply it.

Suggested Citation

  • Graham Bird & Wolfgang Mayer & Alex Mourmouras, 2005. "The Viability of Economic Reform Programs Supported by the International Financial Institutions," School of Economics Discussion Papers 0605, School of Economics, University of Surrey.
    • Handle: RePEc:sur:surrec:0605
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    File URL: https://repec.som.surrey.ac.uk/2005/DP06-05.pdf
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    References listed on IDEAS

    as
    1. Grossman, Gene M & Helpman, Elhanan, 1994. "Protection for Sale," American Economic Review, American Economic Association, vol. 84(4), pages 833-850, September.
    2. Mr. Alex Mourmouras & Anna Ivanova & Mr. George C Anayiotos & Mr. Wolfgang Mayer, 2003. "What Determines the Implementation of IMF-Supported Programs?," IMF Working Papers 2003/008, International Monetary Fund.
    3. Mr. Wolfgang Mayer & Mr. Alex Mourmouras, 2005. "On the Viability of Conditional Assistance Programs," IMF Working Papers 2005/121, International Monetary Fund.
    4. Mr. Alex Mourmouras & Mr. Wolfgang Mayer, 2002. "Vested Interests in a Positive Theory of IFI Conditionality," IMF Working Papers 2002/073, International Monetary Fund.
    5. Graham Bird & Thomas D Willett, 2004. "IMF Conditionality, Implementation and the New Political Economy of Ownership," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(3), pages 423-450, September.
    6. Graham Bird, 2008. "The implementation of IMF programs: A conceptual framework," The Review of International Organizations, Springer, vol. 3(1), pages 41-64, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • F0 - International Economics - - General
    • F3 - International Economics - - International Finance
    • G2 - Financial Economics - - Financial Institutions and Services

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