As the linchpin of the global financial system, the International Monetary Fund provides the balance of payments support, chiefly to developing countries, conditional on strict remedial policy measures. Its approach to policy remains highly controversial, however. While the Fund claims it has adapted, critics allege its policies are harshly doctrinaire, imposing hardships on already poverty-stricken people. For the critics, the half century of its existence is `fifty years too long' and radical change is essential. This book examines the arguments, tracing the extent of Fund adaption, presenting major new evidence on the consequences of fund programes, and considering its future role.
As the linchpin of the global financial system, the International Monetary Fund provides the balance of payments support, chiefly to developing countries, conditional on strict remedial policy measures. Its approach to policy remains highly controversial, however. While the Fund claims it has adapted, critics allege its policies are harshly doctrinaire, imposing hardships on already poverty-stricken people. For the critics, the half century of its existence is `fifty years too long' and radical change is essential. This book examines the arguments, tracing the extent of Fund adaption, presenting major new evidence on the consequences of fund programes, and considering its future role.
This Element argues that governments allocate adjustment burdens strategically to protect their supporters. Using large-N micro-level survey data from three world regions and a global survey, the...
As national governments continue to disagree over how to respond to the aftermath of the global financial crisis, two of the few areas of consensus were the decisions to increase the IMF's capacity...
The primary questions addressed by this study, first published in 1988, focus on how private bankers made decisions on the creditworthiness of developing countries during the 1970s and what the...
The IMF is a multilateral financial institution with a mandate to promote financial and macroeconomic stability, cooperative economic policies, and a balanced growth of international trade. More than...
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