Should Policy-Based Lending Still Involve Conditionality?
Traditional conditionality in policy-based lending is often criticized as being ineffective, intrusive, and corrosive. Disillusionment has led to replace ex ante conditionality with ex post conditionality and to focus on ownership, selectivity, and...
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World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2013/01/17548227/policy-based-lending-still-involved-conditionality http://hdl.handle.net/10986/16413 |
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okr-10986-164132021-04-23T14:03:30Z Should Policy-Based Lending Still Involve Conditionality? Koeberle, Stefan G. policy lending economics evolution finance conditionality Traditional conditionality in policy-based lending is often criticized as being ineffective, intrusive, and corrosive. Disillusionment has led to replace ex ante conditionality with ex post conditionality and to focus on ownership, selectivity, and partnership. This article reviews experiences with conditionality in the World Bank policy-based lending and explores the benefits and drawbacks of various approaches. It argues that conditionality should play a central role in policy-based lending-but cannot substitute for country ownership and good policies. Moreover an exclusive focus on conditionality based on ex ante commitments or ex post results may not be practical or useful for the Bank policy-based lending. Thus a key recommendation in to use conditionality selectively, tailred to country circumstances. Indeed, an eclectic mix of traditional and new approaches is already being used with programmatic policy-based lending offering a particularly promising way to reconcile the debate between the traditional ex ante approach and the aspirations of a results-based approach to conditionality. 2013-12-19T21:13:49Z 2013-12-19T21:13:49Z 2003 http://documents.worldbank.org/curated/en/2013/01/17548227/policy-based-lending-still-involved-conditionality World Bank Research Observer DOI: 10.1093/wbro/lkg009 http://hdl.handle.net/10986/16413 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank World Bank Publications & Research :: Journal Article Publications & Research :: Journal Article |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
policy lending economics evolution finance conditionality |
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policy lending economics evolution finance conditionality Koeberle, Stefan G. Should Policy-Based Lending Still Involve Conditionality? |
| description |
Traditional conditionality in
policy-based lending is often criticized as being
ineffective, intrusive, and corrosive. Disillusionment has
led to replace ex ante conditionality with ex post
conditionality and to focus on ownership, selectivity, and
partnership. This article reviews experiences with
conditionality in the World Bank policy-based lending and
explores the benefits and drawbacks of various approaches.
It argues that conditionality should play a central role in
policy-based lending-but cannot substitute for country
ownership and good policies. Moreover an exclusive focus on
conditionality based on ex ante commitments or ex post
results may not be practical or useful for the Bank
policy-based lending. Thus a key recommendation in to use
conditionality selectively, tailred to country
circumstances. Indeed, an eclectic mix of traditional and
new approaches is already being used with programmatic
policy-based lending offering a particularly promising way
to reconcile the debate between the traditional ex ante
approach and the aspirations of a results-based approach to conditionality. |
| format |
Publications & Research :: Journal Article |
| author |
Koeberle, Stefan G. |
| author_facet |
Koeberle, Stefan G. |
| author_sort |
Koeberle, Stefan G. |
| title |
Should Policy-Based Lending Still Involve Conditionality? |
| title_short |
Should Policy-Based Lending Still Involve Conditionality? |
| title_full |
Should Policy-Based Lending Still Involve Conditionality? |
| title_fullStr |
Should Policy-Based Lending Still Involve Conditionality? |
| title_full_unstemmed |
Should Policy-Based Lending Still Involve Conditionality? |
| title_sort |
should policy-based lending still involve conditionality? |
| publisher |
World Bank |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2013/01/17548227/policy-based-lending-still-involved-conditionality http://hdl.handle.net/10986/16413 |
| _version_ |
1764433523976962048 |