The Political Economy of International Financial Institutions

这项研究由三个独立但相关的项目组成，重点是国际金融机构。第一个项目将分析世界银行第三世界债务的性质，并将其与商业银行持有的债务进行比较。需要分析的重要问题包括：(1)银行贷款在多大程度上真正得到了援助？(2)世界银行的金融结构是否影响其贷款在各国之间的分配？对第三世界国家债务进行重组合适吗？第二个研究领域着眼于不同选举结构和不同选举时间的国家之间财政政策的协调。这项研究将考虑交错选举造成的压力，以及在这些问题出现时缓解这些问题的可能机制。最后一个主题是分析如何为一个货币联盟设计一个中央银行，就像欧洲货币体系那样。这项研究很重要，因为它将更好地了解第三世界和欧洲的新兴金融安排和机构，以及美国可能会受到国际金融机构变化的影响。

This research consists of three separate, but related projects focusing on international financial institutions. The first project will analyze the nature of the World Bank's third-world debt and compare it to the debt held by commercial banks. Among the important question to be analyzed are: (1) to what extent are bank loans really aid? (2) Does the financial structure of the World Bank affect the allocation of its loans across countries? Is the restructuring of third world debt appropriate? The second area of research looks at the coordination of fiscal policy across countries with different electorial structures and different timing of elections. This research will consider both pressures caused by staggered elections and possible mechanisms to mitigate these problems as they arise. The final topic is an analysis of how to design a central bank for a monetary union as in the case of the European Monetary System. This research is important because it will provide a better understanding of emerging financial arrangements and institutions in the third world and in Europe and how the U.S. might be affected changing international financial institutions.