Conditionality has long been used by the IMF, and more recently by World Bank and bilateral donors, as an instrument for improving the effectiveness of international finance. This collection of essays, by representatives of donors and recipients as well as independent observers, suggests that because of recipients' increased bargaining power, such an improvement has seldom resulted.
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Development Finance and Policy Reform As an instrument of international economics, conditionality is increasing. During the last decade the World Bank, the bilateral aid agencies and more recently the European Bank for Reconstruction and Development have made extensive use of conditionality. This book examines this process.
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