The Political Economy of International Financial Institutions' Lending to Pakistan

The Political Economy of International Financial Institutions' Lending to Pakistan

This paper analyzes the determinants of multilateral aid from international financial institutions (IFIs) to Pakistan, focusing on the world three major IFIs, the World Bank, the IMF and the ADB. Political economic factors, notably bureaucratic interests and major shareholders economic interests, are suspected to be relevant in international aid allocation decisions. Pooled Tobit estimation ana...

Upping the Ante for Political Economy Analysis of the International Financial Institutions

Political Economy of Fiscal Institutions

We discuss two essential problems of the political economy of public finances: The principal agent problem between voters and elected politicians and the common pool problem arising from the fact that money drawn from a general tax fund is used to pay for policies targeting more or less narrow groups in society. Three institutional mechanisms exist to deal with these problems, ex-ante rules con...

The Political Economy of Monetary Institutions

Why do national governments choose the monetary institutions they do? While this question has long interested political economists, previous literature on the topic suffers from a central limitation: the choices of exchange-rate regime and central bank independence (CBI) have been analyzed in isolation from one another. This is surprising given that prominent arguments from this literature port...

Andrew Walter Understanding financial globalization in international political economy

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