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IMF Conditionality, Implementation and the New Political Economy of Ownership

Bird, G and Willett, TD (2004) IMF Conditionality, Implementation and the New Political Economy of Ownership Comparative Economic Studies, 46 (3). pp. 423-450.

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Recent attempts to explain the implementation of conditionality incorporated in IMF-supported programmes have used the concept of ‘ownership’. A literature on ownership has begun to emerge and, alongside this, policy changes in the form of streamlining conditionality and broadening participation in its design have been introduced to encourage ownership. However, ownership is difficult to define precisely and this limits its operational value. This paper focuses instead on implementation and suggests that wider participation will not guarantee better implementation. However, it stresses that political economy variables are important in assessing the chances of implementation and argues that these need to be considered more fully than they are at present when programmes are being negotiated. We suggest a narrow concept of ownership that focuses on prospects for implementation. One implication is that the Fund may have to make concessions on the technical design of programmes in order to maximise the chances that improved policies will be adopted. Comparative Economic Studies (2004) 46, 423–450. doi:10.1057/palgrave.ces.8100060

Item Type: Article
Divisions : Surrey research (other units)
Authors :
Willett, TD
Date : September 2004
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:13
Last Modified : 24 Jan 2020 14:09

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