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This bookinvestigates the impact of International Monetary Fund (IMF) programmes onmacroeconomic instability and economic growth in recipient countries. Employingthe New Institutional Economics approach as an analytical framework, it identifiesthe determinants of economic and political institutional quality by taking intoaccount a broad variety of indicators such as parliamentary forms ofgovernment, the aggregate governance level, civil and economic liberties,property rights etc. The book subsequently estimates the impact of theseinstitutional determinants on real economic growth, both directly and alsoindirectly, through the channel of macroeconomic instability, in recipientcountries. Moreover, it illustrates the effectiveness of IMF programmes in thecase of Pakistan, a frequent user of IMF resources.
List of contents
Introduction.- Determinants of Institutional Quality: a Case Study of IMF Programme Countries.- Institutional Quality, Macroeconomic Stabilization and Economic Growth: a Case Study of IMF Programme Countries.- IMF Programmes andInstitutional Quality Determinants: Economic Scenarios in Pakistan.- ConcludingRemarks.
About the author
Omer Javed holds a PhD
in Economics degree from the University of Barcelona (Spain). He previously
completed his masters in economics from the University of York (United
Kingdom), and earlier from Government College University Lahore (Pakistan). In
his doctoral thesis, he focused on the frameworks and determinants of
institutions, and their impact on macroeconomic stability, and economic growth
in International Monetary Fund (IMF) member countries. In 2015, a research
paper, related but not a part of his doctoral thesis, ‘Institutional
determinants: a case study of IMF programme and non-programme countries’ was
published as a chapter in the book, ‘The Political Economy of Governance: Institutions,
Political Performance and Elections’ (Springer 2015). His work experience spans
both the public and private sectors. Moreover, his work as an economist at the
Resident Representative Office of IMF in Pakistan served as a strong motivation
in his choice of specialization in the doctoral thesis.
Summary
This book
investigates the impact of International Monetary Fund (IMF) programmes on
macroeconomic instability and economic growth in recipient countries. Employing
the New Institutional Economics approach as an analytical framework, it identifies
the determinants of economic and political institutional quality by taking into
account a broad variety of indicators such as parliamentary forms of
government, the aggregate governance level, civil and economic liberties,
property rights etc. The book subsequently estimates the impact of these
institutional determinants on real economic growth, both directly and also
indirectly, through the channel of macroeconomic instability, in recipient
countries. Moreover, it illustrates the effectiveness of IMF programmes in the
case of Pakistan, a frequent user of IMF resources.
