Independent actor or agent? An empirical analysis of the impact of US interests on IMF conditions

摘要: In this paper we analyze whether IMF conditionality is exclusively designed in line with observable economic indicators or, alternatively, it partly driven by its major shareholder, the US. A panel data analysis of 206 letters intent from 38 countries over period 4/1997-2/2003 reveals that number conditions on an loan depends a borrowing country’s voting pattern UN General Assembly. Closer allies United States (and other G7 countries) receive loans fewer especially prior to elections. These results contribute current public policy debates role and process setting conditions, provide broader insights into influence international institutions.