IMF program compliance: Aggregate index versus policy specific research strategies

IMF program compliance: Aggregate index versus policy specific research strategies
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国际货币基金组织计划合规性:总体指数与政策具体研究策略

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发表时间:
2006
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通讯作者:
J. Vreeland
J. Vreeland
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作者:
J. Vreeland

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国际货币基金组织(IMF)的经济改革计划未能促进经济发展,这一点已成为越来越多的共识。然而,对于IMF计划应该如何改革,人们几乎没有达成共识,因为我们不明白IMF计划为什么失败了。一些批评者认为,IMF的紧缩政策条件对大多数计划国来说是不合适的,并导致经济危机加深。其他批评者认为,政策条件实际上被忽视了,国际货币基金组织的计划贷款最终补贴了最初导致经济危机的不良政策。这场辩论回避了遵守问题。不幸的是,对国际货币基金组织遵守情况的研究并不简单。货币基金组织的协定涵盖许多方面,而这些方面因协定而异。即使在沿着一个维度,各国政府也没有达到同样的标准。本文不着眼于总体的合规措施,而是建议回到研究具体条件,就像最早的关于国际货币基金组织合规性的研究那样。
Consensus has grown that the economic reform programs of the International Monetary Fund (IMF) have failed to promote economic development. There is little consensus about how IMF programs should be reformed, however, because we do not understand why IMF programs have failed. Some critics contend that the IMF’s austere policy conditions are inappropriate for most program-countries and cause economic crises to deepen. Other critics argue that the policy conditions are actually ignored, and the IMF program loan ends up subsidizing the bad policies that caused the economic crises in the first place. This debate begs the compliance question. Unfortunately, the study of IMF compliance is not straightforward. IMF agreements span many dimensions, and the dimensions vary from agreement to agreement. Even along one dimension, governments are not held to the same standard. Rather than look at aggregate measures of compliance, this article proposes a return to studying specific conditions as was done in the earliest studies on IMF compliance.