Publication
Oct 2002
This publication assesses the usefulness of the International Monetary Fund's (IMF) policy of adjustment lendings in achieving reasonable growth and containing policy distortions. The author argues that adjustment lendings are not very selective in rewarding good policies and do not on average increase growth. Thus the publication concludes that putting external conditions on governments' behavior through structural adjustment loans constitutes a failed IMF policy.
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English (PDF, 40 pages, 959 KB) |
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Author | William Easterly |
Series | CGD Working Papers |
Issue | 11 |
Publisher | Center for Global Development (CGD) |
Copyright | © 2002 Center for Global Development (CGD) |