Includes bibliographical references.

Overview /. Ashoka Mody and Alessandro Rebucci -- Program objectives and program success /. Atish Ghosh, Timothy Lane, Alun Thomas, and Juan Zalduendo -- IMF programs and growth: is optimism defensible? /. Reza Baqir, Rodney Ramcharan, and Ratna Sahay -- Do IMF-supported programs boost private capital inflows? The role of program size and policy adjustment /. Roberto Benelli -- Macroeconomic adjustment in IMF-supported programs: projections and reality /. Ruben Atoyan, Patrick Conway, Marcelo Selowsky, and Tsidi Tsikata -- Fiscal policy, expenditure composition, and growth in low-income countries /. Sanjeev Gupta, Benedict Clements, Emanuele Baldacci, and Carlos Mulas-Granados -- Efficiency and legitimacy: trade-offs in IMF governance /. Carlo Cottarelli -- IMF conditionality and country ownership of adjustment programs /. Mohsin S. Khan and Sunil Sharma -- Different strokes? Common and uncommon responses to financial crises /. James M. Boughton -- Institutions, program implementation, and macroeconomic performance /. Saleh M. Nsouli, Ruben Atoyan, and Alex Mourmouras -- What determines the implementation of IMF-supported programs? /. Anna Ivanova, Wolfgang Mayer, Alex Mourmouras, and George Anayiotos -- International bailouts, moral hazard, and conditionality /. Olivier Jeanne and Jeromin Zettelmeyer -- Bedfellows, hostages, or perfect strangers? Global capital markets and the catalytic effect of IMF crisis lending /. Carlo Cottarelli and Curzio Giannini -- Keeping capital flowing: the role of the IMF /. Michael Bordo, Ashoka Mody, and Nienke Oomes -- Long-term fiscal developments and IMF conditionality: is there a link? /. Aleés Bulâiér and Soojin Moon -- Evaluating IMF-supported programs in the 1990s: the importance of taking explicit account of stoppages /. Chuling Chen and Alun Thomas.