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IMF Programs
IMF lending practices respond to economic conditions but are also sensitive to political-economy variables. Specifically, the sizes and frequencies of loans are influenced by a country's presence at the Fund, as measured by the country's share of quotas and professional staff. IMF lending is also sensitive to a country's political and economic proximity to some major shareholding countries of the IMF -- the United States, France, Germany, and the United Kingdom. We measured political proximity by voting patterns in the United Nations and economic proximity by bilateral trading volumes. These results are of considerable interest for their own sake but also provide instrumental variables for estimating the effects of IMF lending on economic performance. Instrumental estimates indicate that the size of IMF lending is insignificantly related to economic growth in the contemporaneous five-year period but has a significantly negative effect in the subsequent five years.
Workers on the Nile
In this reissue of a book that was hailed as groundbreaking almost as soon as it was published, the authors examine the role of trade unionism and the working class in the development of Egyptian nationalism during the first half of the twentieth century. Beinin and Lockman examine "the dialectic of class and nation [and] the formation of a new class of wage workers as Egypt experienced a particular kind of capitalist development ... and these workers' adoption of various forms of consciousness, organization, and collective action in a political and economic context structured by the realities of foreign domination and the struggle for national independence." "This work breaks new ground in contemporary Western scholarship on the Middle East and challenges Orientalist assumptions that classes do not exist, or play only an insignificant role. The authors' careful and comprehensive account of the workers and their unions is obviously understanding of, and sympathetic to, the working class. Yet it is free of the rather mechanistic and reductionist analyses of earlier writings on the subject." -- Nazih Ayubi, MESA Bulletin.
