Premium
Avoiding the elephant traps: a commentary on the International Finance Facility
Author(s) -
Mosley Paul
Publication year - 2004
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.1132
Subject(s) - fungibility , absorptive capacity , conditionality , neglect , economics , development economics , finance , political science , public economics , politics , law , psychology , industrial organization , psychiatry
This commentary welcomes the ambitious vision underlying the IFF and suggests ways of avoiding four ‘elephant traps’ to which it is vulnerable; neglect of the poor in middle‐income countries, absorptive capacity, fungibility and knock‐on effects on interest rates. Absorptive capacity would appear the biggest of these hazards, but to some extent it can be got round, and is being, through imaginative use of ‘new conditionality.’ Copyright © 2004 John Wiley & Sons, Ltd.