Title
Political ideology, quality at entry and the success of economic reform programsPolitical ideology, quality at entry and the success of economic reform programs
Author
Faculty/Department
Institute of Development Policy and Management
Research group
Development processes, actors and policies
Publication type
article
Publication
Boston, Mass.,
Subject
Politics
Economics
Law
Source (journal)
The review of international organizations. - Boston, Mass.
Volume/pages
8(2013):4, p. 447-476
ISSN
1559-7431
ISI
000326078500002
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
This study investigates how government ideology matters for the success of World Bank economic policy loans, which typically support market-liberalizing reforms. A simple model predicts that World Bank staff will invest more effort in designing an economic policy loan when faced with a left-wing government. Empirically, estimates from a Heckman selection model show that the quality at entry of an economic policy loan is significantly higher for governments with a left-wing party orientation. This result is robust to changes in the sample, alternative measures of ideology, different estimation techniques and the inclusion of additional control variables. Next, robust findings from estimating a recursive triangular system of equations indicate that leftist governments comply more fully with loan agreements. Results also suggest that World Bank resources are more productivein terms of reform successin the design of policy operations than in their supervision. Anecdotal evidence from several country cases is consistent with the finding that left-wing governments receive higher quality loans.
E-info
https://repository.uantwerpen.be/docman/iruaauth/9da7df/6cfd531a715.pdf
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