Synopses & Reviews
Written by leading economists including Nobel laureate Joseph Stiglitz, this collection combines rigorous economic analysis with insider perspectives on key policy debates surrounding the future of the International Monetary Fund. As the role of the IMF and the "Washington Consensus" have come under intense scrutiny, this collection offers a valuable wide-ranging overview of the debate, making it an essential reference for anyone interested in the role of international financial institutions in our globalized economy.
Synopsis
Leading economists argue that the IMF should be better equipped for solving international financial crises. Combining rigorous economic analysis with insider perspectives on current policy debates surrounding the future of the IMF, this book is essential for anyone interested in the role of international financial institutions in our globalised economy.
Synopsis
The IMF is the first economic institution in line to protect countries from the effects of financial crises and to insulate the world economy from possible systemic risk. But how well is it doing its job? This book, written by leading economists, analyses the key issues which the IMF faces in the aftermath of crises in Asia and Argentina. Combining rigorous economic analysis with insider perspectives on current policy debates, this book is essential reference for anyone interested in the role of international financial institutions in our globalised economy.
Synopsis
An essential reference for anyone interested in the role of international financial institutions in our globalised economy.
About the Author
David Vines is a Fellow in Economics at Balliol College Oxford, Adjunct Professor of Economics at the Australian National University, and a Research Fellow of CEPR. He is co-editor of The World Bank: Structure and Policies (CUP, 2000).Christopher Gilbert is Professor of Finance in the Department of Finance at the Vrije Universiteit, Amsterdam, and a Fellow of the Tinbergen Institute. He is co-editor of The World Bank: Structure and Policies (CUP, 2000).
Table of Contents
Introduction Christopher L. Gilbert and David Vines; 1. The IMF and international financial architecture: solvency and liquidity David Vines and Christopher L. Gilbert; 2. Progress towards greater international financial stability Andrew Crockett; 3. International coordination of macroeconomic policies: still alive in the new millennium? Laurence H. Meyer, Brian M. Doyle, Joseph E. Gagnon and Dale W. Henderson; 4. The report of the International Financial Institution Advisory Commission: comments on the critics Allan H. Meltzer; 5. Reforming the global financial architecture: just tinkering around the edges? Malcolm Knight, Lawrence Schembri and James Powell; 6. The IMF and capital account liberalisation Dominic Wilson; 7. How should the IMF view capital controls? Gregor Irwin, Christopher L. Gilbert and David Vines; 8. The resolution of international financial crises: an alternative framework Andrew G. Haldane and Mark Kruger; 9. Whose programme is it? Policy ownership with conditional lending James M. Boughton and Alex Mourmouras; 10. Should the IMF discontinue its long term lending role in developing countries? Graham Bird and Paul Mosley; 11. The IMF and East Asia: a changing regional financial architecture Gordon de Brouwer; 12. Argentina and the Fund: anatomy of a policy failure Michael Mussa; 13. Countries in payments' difficulties: what can the IMF do? Andrew Powell; 14. Accountability, governance and the reform of the IMF Ngaire Woods; 15. The IMF at the start of the 21st century: what has been learned? On which values can we establish a humanised globalisation? Michel Camdessus.