Publication

This paper researches whether domestic institutions influence decisions to participate in International Monetary Fund (IMF) programs. The author argues that executives facing more veto players are more likely to turn to the IMF, use its leverage to push through unpopular policies. But the IMF is more likely to conclude agreements when there are fewer veto players since even with the added pressure of the IMF, the presence of additional veto players may limit policy change. To test these arguments, the author uses a version of bivariate probit to analyze data from 76 developing countries from 1976 to 1990.