Özet:

Most of the developing countries have been clients of both the International Monetary Fund and the World Bank in the post-war era. Yet, their programs have usually been blamed for generating adverse growth effects in the recipient countries. The effectiveness of IMF lending, in particular, regularly criticized as “anti-growth” and “anti-poor”. Thus, this paper reviews the available literature and conclude that while short-term fund lending is either neutral or detrimental to growth, there are some evidence suggesting that longer term IMF programs are likely to have positive growth effects. Where as available evidence suggests that Bank lending has relatively more positive growth effects in developing countries. In the literature, a large number of factors cited as possible causes of failure of these programs. However, it is crucial to recognize other roles played by the institutions to get comprehensive view of their importance for the developing as well as developed countries.

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