• Publications
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IMF programs: Do they work? Can they be made to work better?
Abstract A central issue in the debate about a new international financial architecture has been whether programs of policy reform supported by the International Monetary Fund work. The Fund claimsExpand
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The IMF: A Bird's Eye View of its Role and Operations
The International Monetary Fund (IMF) is the world's premier international financial institution with 184 member countries and active programmes in a significant number of them at any one time. TheExpand
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IMF lending: how is it affected by economic, political and institutional factors?
In seeking to understand IMF lending early large sample econometric studies tended to focus on economic factors. Political and institutional influences were often deemed to be reflected in theExpand
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Do IMF Programmes Have a Catalytic Effect on Other International Capital Flows?
It has frequently been assumed that the International Monetary Fund (IMF) plays an important catalysing role in mobilizing international capital for developing countries and countries in transition.Expand
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Borrowing from the IMF: The policy implications of recent empirical research
Abstract At a time when the future of the International Monetary Fund is being widely debated, a number of relevant and important studies have been published which advance our knowledge of theExpand
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The Catalytic Effect of Lending by the International Financial Institutions
For many less developed countries (LDCs) and countries in transition (CITs) external financing is frequently an effective constraint on economic growth and development. Capital inflows may be used toExpand
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Too Much of a Good Thing? The Adequacy of International Reserves in the Aftermath of Crises
This paper has a number of purposes. First, it revisits the older theory of reserve adequacy and optimality to see whether this can still be used and perhaps strengthened in ways that would informExpand
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Regional heterogeneity in the relationship between fiscal imbalances and foreign exchange market pressure
Summary The relationship between fiscal imbalances and other macroeconomic variables is complex and multifaceted. However, it remains important to understand it, not least in order to facilitate theExpand
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Debt Relief for Low Income Countries: Is it Effective and Efficient?
Although a great deal of attention has been paid to IMF conditionality and to the effects of IMF programmes, relatively little attention has been paid to their completion rate. However, the record isExpand
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The International Monetary Fund and developing countries: a review of the evidence and policy options
As its systemic role evaporated with the collapse of the Bretton Woods system, so the International Monetary Fund (IMF) became drawn into a much more specific role in the context of theExpand
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