As an instrument of international economic policy, conditionality is on the increase. 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 as an instrument for making their finance more effective. At the same time, the scope of conditionality has widened to take in political and environmental considerations as well as the traditional concerns of economic policy. However, the effectiveness of such conditionality, either in changing policies or in improving the state of recipient economies, has seldom been examined. This book brings together theoretical and empirical analyses of conditionality and its side-effects by major donors, countributors from recipient countries and independent observers of the international finance scene. These analyses show that donors must pursue alternative objectives to the enforcement of conditionality, such as quick disbursement, and that the bargaining power of recipients has increased.
While accepting the need for adjustment in developing countries, therefore the contributors are generally sceptical concerning the degree of such adjustment which external agencies can impose.
List of Tables and Figures - Notes on Contributors - Introduction; P.Mosley - PART 1: RATIONALE AND DONOR PERSPECTIVES - Policy-based lending by the World Bank; M.A.Qureshi - Conditionality in Policy-based lending: USAID Experience; D.Gordon - Policy-based lending: An ODA Perspective; P.Sandersley - PART 2: THE POLITICS OF CONDITIONAL LENDING - Interest Group Politics and the Implementation of Adjustment Policies in Sub-Saharan Africa; J.Toye - Consolidating Economic Adjustment: Aspects of the Political Economy of Sustained Reform; J.Nelson - A Theory of Conditionality; P.Mosley - PART 3: RESULTS - Adjustment Programs and Bank Support: Rationale and Main Results; V.Corbo & S.Fischer - The Many Faces of Adjustment; F.Stewart - The Social Dimension of Economic Adjustment Programmes: Economic Feedbacks and Implications for Medium and Long Term Growth; A.Pio - PART 4: CONDITIONALITY INTO THE 1990s - The IMF in Eastern Europe: Lessons of the 1980s and Prospects for the 1990s; A.Henderson - Adjusting Structural Adjustment: Getting Beyond the UNICEF Compromise; J.Cameron - Good Governance: Democracy and Conditional Economic Aid; J.Nelson - Bibliography - Index
Series: International Political Economy
Number Of Pages: 338
Published: 18th August 1992
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 21.59 x 13.79
Weight (kg): 0.6
Edition Number: 3