Does extensive analysis pay off in reducing poverty?

"The World Bank’s Poverty Reduction Strategy Paper Approach: Good Marketing or Good Policy?"

Very good paper, that makes the point that the extensive investments in Poverty Reduction Strategy Papers have not been subject to cost-effectiveness analysis. Is there a better way to use the resources involved in the PRSPs to get more reduction in poverty?

King and McGrath in their book, Knowledge for Development, point out that the Japanese government has resisted buying into the PRSP process.

Jim Levinsohn, in this April 2003 paper, does point out that the World Bank and IMF have reserved for themselves approval of the PRSP's (of which there may eventually be 70 different national versions.) This would seem likely to expand the power of the Bank and IMF if governments and other donors continue to fall in line.