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Poor States, Power and the Politics of IMF Reform

Part of the International Political Economy Series Book Series

DOI: 10.1057/978-1-137-57750-4

ISBN: 978-1-137-57749-8

Publisher: Palgrave Macmillan UK - Springer Journals

Jun 3, 2016

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The IMF, LIDC Reform, and the Post-Washington Consensus

Hibben, Mark

Pages: 1 –27

[‘Poor States, Power, and the Politics of IMF Reform: Drivers of Change in the Post-Washington Consensus’ by Mark Hibben addresses a critical gap in the International Monetary Fund (IMF) literature. Chapter 1 highlights that despite the growing policy footprint of the IMF in the world’s poorest...
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The IMF and LIDCs

Hibben, Mark

Pages: 29 –59

[Effective analysis of post-Washington Consensus IMF LIDC policy reform requires institutional literacy in three areas: the IMF’s formal operations; the informal dynamics of its operational culture, specifically LIDC staff; and the historical role of the IMF in LIDCs. This chapter summarizes the...
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Theorizing Post-Washington Consensus LIDC Reform

Hibben, Mark

Pages: 61 –89

[This chapter first formally reviews IMF literature and summarizes the variables that it has identified as influencing contemporary IMF policy choices. Chapter 3 then develops how three theoretical frameworks explain IMF LIDC change. Rationalist inspired approaches draw from PA modeling and focus...
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The HIPC and HIPC II Initiatives

Hibben, Mark

Pages: 91 –114

[This chapter first traces how the breakdown of the Bretton Woods hegemony and the IMF’s response to the Mexican debt crisis of 1982 set the stage for the 1996 HIPC and 1999 HIPC II reforms. The chapter then examines the dynamics within the IMF that led to the HIPC and HIPC II between 1995 and...
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‘Pro-Poor’ Concessionary Lending: The PRGF

Hibben, Mark

Pages: 115 –141

[The formal adoption of the PRGF in 1999 committed the IMF to a ‘pro-poor’ model of concessionary lending. This chapter first explores how the broad-based conservative shift in economic thinking in the 1980s manifested itself within the IMF, particularly around how Fund staff framed the need to...
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Deepening the IMF’s Development Model: The ECF, RCF, and SCF Reform

Hibben, Mark

Pages: 143 –165

[The most recent IMF LIDC reform is tied to the fallout from the 2008 global financial crisis. This chapter first traces how the crisis delegitimized a conservative macroeconomic framework deeply embedded in IMF ‘common sense’. The chapter also uncovers evidence that global elites see the IMF and...
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Conclusion

Hibben, Mark

Pages: 167 –176

[The concluding chapter summarizes results, offers a critique of the research design used, and discusses the next stage of IMF LIDC reform. Two tiers of actors—primary and secondary—influence LIDC outcomes. A coalition between two primary actors (MD-staff, MD-powerful states, powerful...

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