000			02575cam a22003974a 4500
001			6130
003			The World Bank
006			m d
007			cr cn|||||||||
008			020129s2012 dcu i001 0 eng
024	8		_a10.1596/1813-9450-6130
035			_a(The World Bank)6130
100	1		_aSmets, Lodewijk
245	1	0	_aPolitical Ideology, Quality at Entry and the Success of Economic Reform Programs _h[electronic resource] / _cLodewijk Smets
260			_aWashington, D.C., _bThe World Bank, _c2012
300			_a1 online resource (36 p.)
520	3		_aThis study investigates how government ideology matters for the success of World Bank economic policy loans, which typically support market-liberalizing reforms. A simple model predicts that World Bank staff will invest more effort in designing an economic policy loan when faced with a left-wing government. Empirically, estimates from a Heckman selection model show that the quality at entry of an economic policy loan is significantly higher for governments with a left-wing party orientation. This result is robust to changes in the sample, alternative measures of ideology, different estimation techniques and the inclusion of additional control variables. Next, robust findings from estimating a recursive triangular system of equations indicate that leftist governments comply more fully with loan agreements. Results also suggest that World Bank resources are more productive-in terms of reform success-in the design of policy operations than in their supervision. Anecdotal evidence from several country cases is consistent with the finding that left-wing governments receive higher quality loans.
650		4	_aBanks & Banking Reform
650		4	_aDebt Markets
650		4	_aDevelopment policy lending
650		4	_aEconomic Adjustment and Lending
650		4	_aEconomic Theory & Research
650		4	_aHeckman selection model
650		4	_aPolitical ideology
650		4	_aPublic Sector Corruption & Anticorruption Measures
650		4	_aPublic Sector Development
650		4	_aSocial Development
650		4	_aTriangular system of equations
650		4	_aWorld Bank
700	1		_aKnack, Stephen
700	1		_aMolenaers, Nadia
700	1		_aSmets, Lodewijk
776	1	8	_aPrint version: _iLodewijk Smets _tPolitical Ideology, Quality at Entry and the Success of Economic Reform Programs. _dWashington, D.C. : The World Bank, 2012
830		0	_aPolicy research working papers.
830		0	_aWorld Bank e-Library.
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-6130
999			_c24625 _d24625