The liberalization of capital movements has deeply affected the IMF's business. Crises occur with more violence and leave deeper scars. The Fund has mobilized ever larger rescue packages and yet, it has often failed to achieve its stated aims. Does it mean that the IMF must transform itself or even, as has been suggested, that it has become useless? The new world economy still needs a Fund, but many of its practices have to be rethought and its role redefined. Its traditional views of exchange rate regimes and the desirability of unfettered capital mobility no longer correspond to the situation of many developing countries. Its mode of intervention needs to recognize that '21st century crises' fundamentally differ from those which dominated during its first fifty years of existence. The continuous blurring of roles between the IMF and the World Bank is fraught with dangers and both institutions must redefine their functions. This report presents a detailed proposal for a new IMF, insisting on accountability and governance.
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Book Description
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About the Author
Jose de Gregorio is at Universidad de Chile, Santiago; Barry Eichengreen is at the University of California at Berkeley; Takatoshi Ito is at Hitotsubashi University; and Charles Wyplosz is at the Graduate Institute of International Studies, Geneva.
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Inside This Book
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First Sentence:
The Mexican crisis of 1994-5 was a shock not just to financial markets but to the IMF itself. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
contingent credit lines, financial programming, capital account liberalization, international financial architecture, bank closures, banking crises Key Phrases - Capitalized Phrases (CAPs): (learn more)
Executive Board, Interim Committee, World Bank, United States, Articles of Agreement, Executive Directors, Latin America, Bretton Woods, International Financial Statistics, Managing Director, Board of Governors, Financial Stability Forum, European Union, Number Total, Saudi Arabia, Global Information Agency, Supplemental Reserve Facility New!
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
The Mexican crisis of 1994-5 was a shock not just to financial markets but to the IMF itself. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
contingent credit lines, financial programming, capital account liberalization, international financial architecture, bank closures, banking crises Key Phrases - Capitalized Phrases (CAPs): (learn more)
Executive Board, Interim Committee, World Bank, United States, Articles of Agreement, Executive Directors, Latin America, Bretton Woods, International Financial Statistics, Managing Director, Board of Governors, Financial Stability Forum, European Union, Number Total, Saudi Arabia, Global Information Agency, Supplemental Reserve Facility New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 7
books:
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3
books
cite this book:
- Economic Policy 32 by Georges De Menil on 5 pages
- Toward a New International Financial Architecture: A Practical Post-Asia Agenda by Barry Eichengreen in Back Matter
- Dealing with the Debt Crisis (World Bank Symposium) by Ishrat Husain in Back Matter
- Banking Crises in Latin America (Inter-American Development Bank) by Professor Ricardo Hausmann in Back Matter
- East Asia (Modern World Cultures) by Douglas A. Phillips in Back Matter
See all 7 books this book cites
- Reforming the International Monetary and Financial System by Peter B. Kenen on page 320, and page 387
- Financial Crises: And What To Do About Them by Barry Eichengreen in Back Matter
- Financial Crises and What to Do About Them by Barry Eichengreen in Back Matter
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