With almost 15 years passing since their introduction, quantitative evaluations of Poverty Reduction Strategy Papers (PRSPs) have been surprisingly sparse. This paper examines whether a PRSP impacts on poverty reduction and well-being and whether PRSP alignment to development paradigms impacts upon the achievement of these outcomes. Specifically, it estimates the causal effect of having a PRSP on various targets of the United Nations' Millennium Development Goals. The sample is composed of a

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... atment group consisting of 51 developing countries undertaking PRSPs and 62 control countries determined through propensity score matching techniques, over the period 1999 to 2008. Results suggest that countries under PRSP treatment have achieved better well-being outcomes than those in the control group. PRSP alignment to different development paradigms is also shown to matter.