Fund member countries that adopt market-friendly policies often encounter a credibility problem—market-friendly policies are not effective in stimulating priv

Annotation This book brings together different perspectives on the role of conditionality, drawing on the experiences and lessons learned by the donor community

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

Increasingly integrated global financial markets have been shaken by a series of severe shocks in recent decades, from Mexico’s Tequila crisis to the upheaval

This paper argues that many developing countries may find it difficult to buttress disinflation programs purely through the adoption of traditional credibility-