Communication and Performance in Bank-Fund Joint Participation
University of Milan Bicocca Department of Economics, Management and Statistics Working Paper No. 319
28 Pages Posted: 27 Dec 2015 Last revised: 6 Jan 2016
Date Written: November 26, 2015
Abstract
In this paper I relate Bank-Funds performance to their willingness (or ability) to communicate. I find evidence that a Bank-Fund simultaneous loan is associated to an increase in economic growth and that such effect is diminished by factors preventing full communication, such as the degree of Bank-Fund competition and the salience of asymmetric information. Politically motivated loans seem - at least to some extent - stimulate more IMF-WB interaction which turns out to be associated to higher economic growth.
Keywords: IMF and WB conditionality, coordination, communication
JEL Classification: D83, F33, N2
Suggested Citation: Suggested Citation