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eBook Lending Credibility: The International Monetary Fund and the Post-Communist Transition (Princeton Studies in International History and Politics) ePub

eBook Lending Credibility: The International Monetary Fund and the Post-Communist Transition (Princeton Studies in International History and Politics) ePub

by Randall W. Stone

  • ISBN: 0691095280
  • Category: Politics and Government
  • Subcategory: Politics
  • Author: Randall W. Stone
  • Language: English
  • Publisher: Princeton University Press (July 14, 2002)
  • Pages: 304
  • ePub book: 1776 kb
  • Fb2 book: 1562 kb
  • Other: txt azw mobi lit
  • Rating: 4.8
  • Votes: 568

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FREE shipping on qualifying offers. With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the IMF exert over fiercely contested issues in domestic politics that affect the lives of millions? In Lending Credibility.

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Randall Stone (2002) examines the enforcement problem in sovereign lending .

Randall Stone (2002) examines the enforcement problem in sovereign lending, which arises when lenders have political incentives not to publish borrowers who default on their commitments. Other studies have examined the Fund's behavior in cases of program suspension. The International Monetary Fund (IMF) treats its members very differently; some of the countries that borrow from the Fund receive huge loans while others in similar circumstances receive smaller loans. In this article, I argue that the difference in treatment is determined largely by domestic political conflict in the IMF’s most powerful member-states.

In Lending Credibility, Randall Stone develops the first systematic approach to answering this question.

With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the IMF exert over fiercely contested issues in domestic politics that affect the lives of millions? In Lending Credibility, Randall Stone develops the first systematic approach to answering this question. Deploying an arsenal of methods from a range of social sciences rarely combined, he mounts a forceful challenge to conventional wisdom.

Randall W Stone Princeton University Press: Princeton, 2002. The debate on the IMF's responsibility for the late 1990s collapse of the Russian economy is a hot and important one in the pages of this journal. The focus of the debate is the now infamous Tashkent Meeting of the heads of Central Banks of the CIS in May 1992. Former Prime Minister Yegor Gaidar accuses the Fund for its pressure on his government to maintain the ruble zone even though the FSU countries that remained loyal to the ruble were milking Russian resources and causing unbearable inflation.

In Lending Credibility, Randall Stone develops the first systematic approach to answering this question. With the end of the Cold War, the International Monetary Fund (IMF) emerged as the most powerful international institution in history. the Western countries designated the imf as their primary vehicle for funneling aid to the countries that had emerged from the ruins of the Soviet empire and made it responsible for creating a strategy for interacting with them.

Lending Credibility : The International Monetary Fund and the . Publisher:Princeton University Press.

Lending Credibility : The International Monetary Fund and the Post-Communist Transition. In Lending Credibility, Randall Stone develops the first systematic approach to answering this question.

Lending Credibility book . With the end of the Cold War, the International Monetary Fund emerged. Deploying an With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history.

Recommend this journal. Full text views reflects the number of PDF downloads, PDFs sent to Google Drive, Dropbox and Kindle and HTML full text views. Abstract views reflect the number of visits to the article landing page.

With the end of the Cold War, the International Monetary Fund emerged as the most powerful international institution in history. But how much influence can the IMF exert over fiercely contested issues in domestic politics that affect the lives of millions? In Lending Credibility, Randall Stone develops the first systematic approach to answering this question. Deploying an arsenal of methods from a range of social sciences rarely combined, he mounts a forceful challenge to conventional wisdom. Focusing on the former Soviet bloc, Stone finds that the IMF is neither as powerful as some critics fear, nor as weak as others believe, but that the answer hinges on the complex factor of how much credibility it can muster from country to country.

Stone begins by building a formal, game-theoretic model of lending credibility, which he then subjects to sophisticated quantitative testing on original data from twenty-six countries over the 1990s. Next come detailed, interview-based case studies on negotiations between the IMF and Russia, Ukraine, Poland, and Bulgaria. Stone asserts that the IMF has exerted startling influence over economic policy in smaller countries, such as Poland and Bulgaria. However, where U.S. foreign policy interests come more heavily into play, as in Russia, the IMF cannot credibly commit to enforcing the loans-for-policy contract. This erodes its ability to facilitate enduring market reforms. Stone's context is the postcommunist transition in Europe and Asia, but his findings carry implications for IMF activities the world over.