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 | From Economic Crisis to Reform: |
The wave of neoliberal economic reforms in the developing world since the 1980s has been regarded as the result of both severe economic crises and policy pressures from global financial institutions such as the International Monetary Fund (IMF). Using comparative evidence from the initiation and implementation of IMF programs in Latin America and Eastern Europe, From Economic Crisis to Reform shows that economic crises do not necessarily persuade governments to adopt IMF-style economic policies. Instead, ideology, interests, and institutions, at both the international and domestic levels, mediate responses to such crises. Grigore Pop-Eleches explains that the IMF's response to economic crises reflects the changing priorities of large IMF member countries. He argues that the IMF gives greater attention and favorable treatment to economic crises when they occur in economically or politically important countries. The book also shows how during the neoliberal consensus of the 1990s, economic crises triggered IMF-style reforms from governments across the ideological spectrum and how these reforms were broadly compatible with democratic politics. By contrast, during the Latin American debt crisis, the contentious politics of IMF programs reflected the ideological rivalries of the Cold War. Economic crises triggered ideologically divergent domestic policy responses and democracy was often at odds with economic adjustment. The author demonstrates that an economic crisis triggers neoliberal economic reforms only when the government and the IMF agree about the roots and severity of the crisis. Grigore Pop-Eleches is assistant professor of politics and international affairs in the Woodrow Wilson School and the Department of Politics at Princeton University. "[From Economic Crisis to Reform] presents a tremendous amount of information and provides a number of interesting insights into the politics of IMF programs."--C. Kilby, Choice "This is an excellent book which brings a new and interesting perspective to an important issue. With the current global financial crisis heightening demand for IMF resources this book could not be timelier. . . . From Economic Crisis to Reform is an important study and a model of rigorous mixed method research that makes a significant contribution and that should be read widely. As the current global financial crisis prompts a number of former communist countries in Eastern Europe to turn to the IMF for support, scholars interested in understanding how such programs are likely to evolve should start by turning to Pop-Eleches's book."--Jeffrey Chwieroth, Review of International Organizations Endorsements: "From Economic Crisis to Reform provides a rigorous and nuanced analysis of the international and domestic politics of IMF lending programs. Through quantitative analysis and careful case-study comparisons of Latin America and Eastern Europe, Grigore Pop-Eleches takes us well beyond oversimplified linear arguments about the effects of economic crises. His cross-regional and cross-time research shows convincingly that changes in the international context, and variations in the components of different crises strongly condition both IMF lending priorities and the impact of partisanship and democracy. This outstanding book substantially advances our general understanding of the international and domestic politics of economic reform."--Robert Kaufman, Rutgers University List of Illustrations and Tables ix Subject Areas: | |||||
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