The relation between IMF conditionality and country ownership of assistance programs is considered from a political … economy perspective, focusing on the question of why conditionality is needed if it is in a country’s best interests to … conditionality and ownership. The Paper stresses a conflict between a reformist government and domestic interest groups that oppose …

This paper finds that lending by state banks is less procyclical than lending by private banks, especially in countries … with good governance. Lending by state banks in high income countries is even countercyclical. On the liability side, state …

efficient for them to have discretion in lending to individual institutions. Alternatively, in other cases, when the social cost …

This paper offers a theory of conditionality lending in 19th-century international capital markets. We argue that … descriptions of “relationship” lending to corporate clients by “parent” banks. Prestigious bankers’ ability to implement … conditionality loans and monitor countries’ financial policies also enabled them to deal with solvency. We find that, compared with …

We consider a small open economy that faces a commitment problem in trade liberalization. We examine how the … relationship with a large trading partner affects the ability of the small countrys government to sustain free trade through a … country's dynamic incentives. Liberalization through a reciprocal trade agreement, in which the large country lowers its …

Standard models of investment predict that credit-constrained firms should grow rapidly when given additional capital …, and that how this capital is provided should not affect decisions to invest in the business or consume the capital. We … ability of capital alone to stimulate the growth of female microenterprises. First, while the average treatment effects of the …

look at the pattern of lending of both institutions as a function of their institutional mission and the commercial and … borrowing needs of their members, particularly during a balance of payments crisis. Apart from that, however, the lending …

indicate that OECD membership (but neither GATT/WTO nor IMF membership) has had a consistently large positive effect on trade. …This Paper estimates the effect on international trade of three multilateral organizations intended to increase trade …: 1) the World Trade Organization (WTO) and its predecessor the Generalized Agreement on Tariffs and Trade (GATT); 2) the …

senior) lending in times of crisis, can work as a commitment device and improve social welfare. …