External Evaluation of IMF Economic Research Activities

• Although the Fund produces some excellent research products, there is substantial room for improvement in the overall quality of the Fund’s research
• The mix of research conducted at the Fund needs to be directed more to areas where it can add the most value.
• Research in functional departments needs to be integrated to a greater extent into operational work.
• Fund researchers do not have the visible profile in the outside world that they had in the past.

Examines the impact of

• organizational structure
• culture
• incentives and accountability
• resource allocation
• dissemination practices

Report makes a number of targetted conclusions on these issues, including:

• Create a Committee on Research Priorities to assist in strategic planning and to support research activities.
• Introduce explicit departmental targets for staff time allocated to research activities, with incentives for collaboration, quality and presentation.
• Create a more effective performance evaluation system.
• Consider how to reduce unnecessary internal review of Fund work and avoid formal written comments where informal communication would be adequate.
• Write and disseminate non-technical summaries of highest quality and most relevant research.
• Treat working papers as preliminary.
• Improve dissemination of research to non-technical audiences outside the Fund.
• Increase the number of research assistants relative to economists
• Create an ongoing external review process for research products.