The rapid growth of trust funds at multilateral development organizations has been widely neglected in the academic literature so far. Using a simple illustrative model, this paper examines the choice by sovereign donors among various trust fund options. The authors contend that the choice among...

The rapid growth of trust funds at multilateral development organizations has not received much attention in the academic literature. We consider the choice by sovereign donors among various types of multilaterally channeled funds. Taking the example of the World Bank, we distinguish between...

Over the last decade, multi-bi financing has become a significant source of funding for international development organizations. This paper discusses how multi-bi financing channeled through trust funds shapes the organizational practices of multilateral agencies, using evidence from a large...

This paper studies the role of the International Monetary Fund (IMF) in promoting central bank independence (CBI). While anecdotal evidence suggests that the IMF has been playing a vital role for CBI, the underlying mechanisms of this influence are not well understood. We argue that the IMF has...

International organizations (IOs) often drive policy change in member countries. Given IOs' limited political leverage over a member country, previous research argues that IOs rely on a combination of hard pressures (i.e., conditionality) and soft pressures (i.e., socialization) to attain their...

Bilateral aid projects continue to proliferate in an uncoordinated fashion, leading to fragmented aid delivery, despite high-level political promises to reign in the practice. Frequently absent in the academic and policy debates is an exploration of which policy venues can be elective in...