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International Monetary Fund (international + monetary_fund)
Selected AbstractsINTERNATIONAL MONETARY FUND (IMF): Missions And ReviewsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 5 2010Article first published online: 8 JUL 2010 No abstract is available for this article. [source] INTERNATIONAL MONETARY FUND: Spring MeetingsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 4 2010Article first published online: 4 JUN 2010 No abstract is available for this article. [source] INTERNATIONAL MONETARY FUND: Missions and ReviewsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 3 2010Article first published online: 4 MAY 2010 No abstract is available for this article. [source] INTERNATIONAL MONETARY FUND (IMF): Varying AssessmentsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 10 2009Article first published online: 27 NOV 200 No abstract is available for this article. [source] INTERNATIONAL MONETARY FUND (IMF): Missions And ReviewsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 9 2009Article first published online: 2 NOV 200 No abstract is available for this article. [source] INTERNATIONAL MONETARY FUND: Country ReviewsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 3 2009Article first published online: 1 MAY 200 No abstract is available for this article. [source] THE INTERNATIONAL DIMENSIONS OF NEUROETHICSDEVELOPING WORLD BIOETHICS, Issue 2 2009SOFIA LOMBERA ABSTRACT Neuroethics, in its modern form, investigates the impact of brain science in four basic dimensions: the self, social policy, practice and discourse. In this study, we analyzed a set of 461 peer-reviewed articles with neuroethics content, published by authors from 32 countries. We analyzed the data for: (1) trends in the development of international neuroethics over time, and (2) how challenges at the intersection of ethics and neuroscience are viewed in countries that are considered developed by International Monetary Fund (IMF) standards, and in those that are developing. Our results demonstrate a steady increase in global participation in neuroethics from 1989 to 2005, characterized by an increase in numbers of articles published specifically on neuroethics, journals publishing these articles, and countries contributing to the literature. The focus from all countries was on the practice of brain science and the amelioration of neurological disease. Indicators of technology creation and diffusion in developing countries were specifically correlated with increases in publications concerning policy implications of brain science. Neuroethics is an international endeavor and, as such, should be sensitive to the impact that context has on acceptance and use of technological innovation. [source] The Regulatory State and Turkish Banking Reforms in the Age of Post-Washington ConsensusDEVELOPMENT AND CHANGE, Issue 1 2010Caner Bakir ABSTRACT The new era of the Post-Washington Consensus (PWC), promoted under the auspices of International Financial Institutions such as the International Monetary Fund and the World Bank, centres on the need to develop sound financial regulation and strong regulatory institutions, especially in the realm of banking and finance in post-financial crisis developing countries. This article uses an examination of the Turkish banking sector experience with the PWC in the aftermath of the 2001 financial crisis to show its considerable strengths and weaknesses. The authors argue that the emergent regulatory state in the bank-based financial system has a narrow focus on strengthening prudential regulation, whilst ignoring the increased ,financialization' of the Turkish economy. They identify the positive features of the new era of the PWC in terms of prudential regulation, which has become much more robust in its ability to withstand external shocks. At the same time, however, the article highlights some of the limitations of the new era which resemble the limitations of the PWC. These include the distributional impact of the regulatory reforms within the banking sector, and notably the emergence of foreign banks as the major beneficiaries of this process; weaknesses in promoting productive bank intermediation that finance the real economy and economic growth, leading to poverty reduction via growth of employment whilst stimulating financialization within the economy; and finally, the exclusive focus on prudential regulation, whilst ignoring regulatory costs, consumer protection and competition regulation. [source] The Impact of Life Events on Perceived Financial Stress, Clothing-Specific Lifestyle, and Retail Patronage: The Recent IMF Economic Crisis in KoreaFAMILY & CONSUMER SCIENCES RESEARCH JOURNAL, Issue 1 2000Soyeon Shim Using Andreasen's Model of Life Change Effects as a theoretical framework, the purpose of this study was to develop and test a model that depicts the direct and indirect influence of a life event, the Korean International Monetary Fund (IMF) crisis, on financial stress, clothing-specific lifestyle, and retail patronage behavior. A total of 502 females from two major metropolitan cities in Korea responded to a survey questionnaire. A structural equation modeling technique was used to test the hypotheses. Several statistical criteria supported theoretical, causal relationships among the measurement models in the study, providing strong support for Andreasen's model. More specifically, the IMF impact had affected retail patronage behavior directly as well as indirectly through clothing-specific lifestyles and financial stress. Both clothing-specific lifestyles and financial stress had an influence on retail patronage behavior. The IMF event had a stronger direct and total impact than financial stress on changes in retail patronage behavior. Theoretical and managerial implications are discussed. [source] Defining Accountability Up: the Global Economic MultilateralsGOVERNMENT AND OPPOSITION, Issue 2 2004Miles Kahler Critics of the global economic multilaterals (GEMs) , the International Monetary Fund, the World Bank, and the World Trade Organization , allege that these organizations fail the test of democratic accountability. Two distinct measures of democratic accountability have been applied to the GEMs. To the degree that these organizations display ,accountability deficits', those deficiencies are the result of choices by the most influential national governments. Three techniques have been deployed to enhance the accountability of the GEMs: transparency (more information for those outside the institution), competition (imitation of democratic accountability) and changes in rules of representation (accountability to stakeholders rather than shareholders). Each of these may impose costs, however, and may conflict with other valued aims of the organizations. [source] Keeping Capital Flowing: The Role of the IMF,INTERNATIONAL FINANCE, Issue 3 2004Michael D. Bordo In this paper, we examine the role of the International Monetary Fund (IMF) in maintaining the access of emerging market economies to international capital markets. We find evidence that both macroeconomic aggregates and capital flows improve following the adoption of an IMF programme, although they may initially deteriorate somewhat. Consistent with theoretical predictions and earlier empirical findings, we find that IMF programmes are most successful in improving capital flows to countries with bad, but not very bad, fundamentals. In such countries, IMF programmes are also associated with improvements in the fundamentals themselves. [source] The International Financial Architecture: Old Issues and New InitiativesINTERNATIONAL FINANCE, Issue 1 2002Peter B. Kenen Reform of the international financial architecture has made progress but has not dealt decisively with the need to involve private sector creditors in resolving debt-related crises. It has relied unduly on voluntary approaches combined with large-scale official financing. A comprehensive approach requires the use of temporary standstills to protect debtors against litigation. These can help to resolve ,liquidity' crises as well as ,solvency' crises. Proposals by Krueger (2001, 2002) provide a way to resolve the problem of a sovereign debtor with an unsustainable debt burden but offer no solution to problems involving private sector debt or to liquidity crises. They would also require an amendment to the Articles of Agreement of the International Monetary Fund, which could prove difficult. This paper proposes a less radical approach , adding rollover clauses and collective-action clauses to sovereign and private debt contracts, backed by strict limits on IMF financing. It resembles, but goes further than, the contractual approach favoured by the US Treasury. [source] An innovative approach to the theory and practice of organizational analysis: my journey with Elliott JaquesINTERNATIONAL JOURNAL OF APPLIED PSYCHOANALYTIC STUDIES, Issue 4 2005Aldo Schlemenson Abstract This article highlights the author's experience working with Elliott Jaques and his theory for over 35 years in Argentina. It examines the development of Jaques' theoretical approach to organizational theory over two decades, transforming from a psychological to a social theoretical framework. Emphasis is put in the notions of the organizational structure, the hierarchical managerial system, stratification, and the managerial accountability in a manner that allows for a systematic analysis. The "time-span of discretion" instrument is the means for evaluating jobs and for having access to extant organization. This approach allows a process of change combining effectiveness with a humanistic democratization of the workplace and ethics. This article provides examples of projects implemented in the public administration area, verifying the consistency of the theory and its practical applications, in particular concerning individual capabilities, the talent pool, and their evaluation. It contains a Foreword by Dr Carlos Silvani, International Monetary Fund, Washington, D.C. Copyright © 2005 John Wiley & Sons, Ltd. [source] Risk management in a globalizing world: An empirical analysis of individual preferences in 26 European countriesINTERNATIONAL SOCIAL SECURITY REVIEW, Issue 3 2009Ferry Koster Abstract The risks that individuals face in everyday life, such as illness and unemployment, can be covered using market, government, or community mechanisms. The market can function with a lower level of solidarity compared to the other two mechanisms; the government mechanism requires the highest level of compulsory solidarity and communities are associated with voluntary solidarity. Social context affects individual preferences with regard to any one of these mechanisms. This article investigates to what extent these preferences are influenced by globalization: the economic, social and political openness of countries. The dataset used in this study combines data from the European Values Study 1999-2000 (EVS), the International Monetary Fund (IMF), and the KOF Index of Globalization, and contains information about 31,554 people living in 26 European countries. The results derived from logistic multilevel analysis show that preferences towards the organization of solidarity are related to the different dimensions of globalization. [source] Testing and Measuring the Role of Ideas: The Case of Neoliberalism in the International Monetary FundINTERNATIONAL STUDIES QUARTERLY, Issue 1 2007JEFFREY M. CHWIEROTH How much weight should be assigned to a particular factor in explaining an outcome? How should an abstract concept be linked to empirical indicants? These methodological problems,known as the "how much" and "how to" problems, respectively,have raised serious obstacles for ideational researchers. However, they have generally failed to deal with these problems adequately. To offset the limitations of existing studies, this paper provides new methodological guidance to researchers confronting these problems. In particular, quantitative methods are suggested for managing the "how much" problem, and a new indicator based on an individual's organizational background is proposed to deal with the "how to" problem. To develop the argument, this guidance is applied to examine the effect and measurement of the emergence within the International Monetary Fund of neoliberal ideas prescribing liberalization of capital controls. [source] A Single EU Seat in the IMF?JCMS: JOURNAL OF COMMON MARKET STUDIES, Issue 2 2004Lorenzo Bini Smaghi This article examines the rationale for consolidating EU Member States' position in the International Monetary Fund (IMF). Although a substantial amount of co-ordination already takes place, particularly on issues related to the euro area and the single monetary and exchange rate policy, co-operation between EU countries in the IMF remains a relatively new phenomenon and divergences still prevail. The current institutional set-up, whereby the 15 EU countries are spread in nine constituencies, undermines effectiveness. Al though there is scope for further improving co-operation, there are natural limits to what can be achieved within the existing co-operation frame work. A single EU constituency would enable EU Member States to have a strong impact on IMF policies, potentially as strong as that of the US. However, this may not be an objective for all EU countries in the current conjuncture. [source] International Monetary Fund: Missions and ReviewsAFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 4 2010Article first published online: 4 JUN 2010 No abstract is available for this article. [source] Foreign exchange pressures in Latin America: Does debt matter?JOURNAL OF INTERNATIONAL DEVELOPMENT, Issue 5 2008Alex Mandilaras Abstract Latin American countries have been in the eye of economic and financial storms several times in recent years. Advice from the International Monetary Fund has consistently highlighted the need for sound fiscal policies and lower debt levels. But is public debt relevant? Following a brief discussion of the theoretical issues involved, this paper examines empirically the relationship between public indebtedness and pressures in the foreign exchange market. Alternative measures are used to capture the latter and the analysis controls for a de facto classification of exchange rate regimes. Estimations of static and dynamic panels for 28 Latin American and Caribbean (LAC) countries report substantial fiscal effects. Copyright © 2008 John Wiley & Sons, Ltd. [source] The Politics of Economic Policy Making in Britain: A Re-assessment of the 1976 IMF CrisisPOLITICS & POLICY, Issue 5 2009CHRIS ROGERS Many accounts of the International Monetary Fund (IMF) crisis argue that British policy was determined by the exercise of structural power by markets, either through the creation of currency instability and the application of loan conditionality, or by acting as a catalyst for policy learning. This article reassesses economic policy making in Britain during the 1976 IMF crisis to show that policy change did not occur as a result of disciplinary market pressure or a process of social learning. It argues that state managers have to manage the contradictions between the imperatives of accumulation and legitimation, and can do so through the politics of depoliticization. It shows, via archival sources, how elements of the core-executive had established preferences for deflationary policies, which were implemented in 1976 using market rhetoric and Fund conditionality to shape perceptions about the issues within the government's discretionary control. Muchas explicaciones sobre la crisis del FMI sostienen que la política británica fue determinada, o bien, por el ejercicio de poder estructural vía el mercado a través de la creación de la inestabilidad cambiaria y la aplicación de préstamos condicionados, o por el intento de demostrar que sólo las políticas monetarias mantendrían la confianza, un reconocimiento que se espera alcanzar a través de un proceso de aprendizaje político. Este artículo reevalúa el diseño de políticas económicas en Gran Bretaña durante la crisis del FMI de 1976 para demostrar que el cambio en la política no ocurrió como resultado de una presión constante del mercado o un proceso de aprendizaje social. Argumenta que los administradores del estado deben manejar las contradicciones entre los fundamentos de la acumulación y legitimación y pueden hacer eso a través de la depolitización. Señala, como, en base a fuentes provenientes de archivos, los elementos del poder ejecutivo habían establecido preferencias por las políticas deflacionarias, las cuales fueron implementadas en 1976 utilizando la retórica del mercado y la condicionalidad del FMI para ubicar dentro del control discrecional del gobierno las percepciones acerca de asuntos públicos importantes. [source] The IMF on Policies Responding to Demographic ChangePOPULATION AND DEVELOPMENT REVIEW, Issue 4 2004Article first published online: 15 DEC 200 In its semiannual report World Economic Outlook, the International Monetary Fund presents its analysis of major economic policy issues and assessment of economic prospects, along with more detailed treatment of a selected current topic. The special topic in the 300-page report published in September 2004 is "The Global Demographic Transition," treated in Chapter III of the document. An excerpt from the section of that chapter titled "Policies to Meet the Challenges of Global Demographic Change" is reproduced below with the permission of the IMF. Footnotes and the figure included in the excerpt have been renumbered. The title of Chapter III is "How Will Demographic Change Affect the Global Economy?" The tone of the discussion is set by the opening epigraph, a quotation from the UK's 1949 Report of the Royal Commission on Population: "It seems possible that a society in which the proportion of young people is diminishing will become dangerously unprogressive, falling behind other communities not only in technical efficiency and economic welfare, but in intellectual and artistic achievement as well." Accordingly, the focus of the analysis, like that of the commentary by US Federal Reserve Chairman Alan Greenspan reprinted in the preceding Document item in this issue, is on the consequences of population aging and on the desirable policy responses to that process. The discussion broadly parallels Greenspan's but with a wider compass, including some consideration of the effects of aging in developing countries. It emphasizes the need for counteracting adverse effects of demographic change through a combination of policy measures, since "the size of the reforms" (such as increasing labor force participation, inducing later retirement, and attracting more immigrants) "that would be needed in any single area [is] sufficiently large that they would be politically and economically difficult to achieve." [source] Conditionality, coercion and other forms of ,Power': international financial institutions in the PacificPUBLIC ADMINISTRATION & DEVELOPMENT, Issue 3 2002Peter Larmour Research on conditionality has cast doubt on its effectiveness. Nevertheless, international financial institutions have continued to apply policy conditions to loans to developing country governments. The article aims to contribute to the current debate about conditionality in two ways. Empirically, it introduces recent evidence from countries and institutions not included in earlier studies (the World Bank and the International Monetary Fund in Papua New Guinea, and the Asian Development Bank in the South Pacific). Conceptually, it introduces arguments from political science to extend our understanding of the power relationships involved. Some conditions have clearly been applied coercively, particularly on ,Green' issues. Donors have also controlled the agenda of negotiations. But more productive and disciplinary forms of power are shown to be at work in conditionality, as in other forms of aid. Copyright © 2002 John Wiley & Sons, Ltd. [source] Accrual Budgeting: Accounting Treatment of Key Public Sector Items and Implications for Fiscal PolicyPUBLIC BUDGETING AND FINANCE, Issue 2 2006CARIDAD MARTÍ Budgeting in accrual terms is one of the most controversial issues in public sector accounting. In this paper, we analyze the accounting treatment of problematic elements of the financial statements when introducing accrual budgeting, and discuss the effects of the analyzed accounting alternatives on fiscal policy. We focus on three pioneer countries in the implementation of accrual budgeting and accounting: the United Kingdom, Sweden, and New Zealand. The accounting standards of the International Public Sector Accounting Standards Board, the European System of Accounts, and the Government Finance Statistics Manual of the International Monetary Fund are taken as benchmarks. [source] DO INTERNATIONAL MONETARY FUND PROGRAMS IMPACT ON THE SACRIFICE RATIO?THE DEVELOPING ECONOMIES, Issue 2 2009Winston R. MOORE E31; E32; E61; C22 From time to time, the International Monetary Fund (IMF) makes resources available to member states for short-term balance-of-payments support under an agreed arrangement know as a program. Most IMF programs include quantitative performance criteria for key macroeconomic variables, which borrowers must meet to obtain Fund resources. Standard open economy models predict that if policymakers are able to credibly commit to reducing inflation, rational economic agents will lower their expectations of inflation and, therefore, the trade-off between inflation and output will fall. The present study tests whether IMF programs, by lending credibility to a country's adjustment program, influence the inflation,output trade-off. The results from the study suggest that IMF programs do not significantly influence the inflation,output trade-off. This finding is robust to changes in the estimation approach, the method used to obtain the output gap estimates and outliers. [source] Beyond MIRAB: Do aid and remittances crowd out export growth in Pacific microeconomies?ASIA PACIFIC VIEWPOINT, Issue 1 2006Jon Fraenkel Abstract: The 1980s investigations of post-colonial Polynesian and Micronesian economies emphasised the role of aid, remittances and other rent incomes as ,booming sectors' which ,crowded out' export-driven growth. Contrary to orthodox theory-based models at that time being embraced by the World Bank and International Monetary Fund (emphasising liberalisation and primary product export-oriented economic growth), Bertram and Watters instead highlighted long-run trade deficits and onshore government budget deficits, driven by reliance on overseas migration, remittances, aid and bureaucracy (MIRAB). ,Dependent development' was identified as ,both sustainable and preferable to a drive for self reliance', with the logical corollary that the objectives of the Pacific Islands should be ,the preservation and enhancement of their status as rentier societies'. Yet, this perspective has never sat easily with development-oriented Polynesian or Micronesian political leaders. Despite useful empirical insights, the MIRAB perspective informs a rather complacent and static view of Oceania as caught in some kind of ,steady state' equilibrium, and downplays the role of weak governance structures in inhibiting export production. This article argues that the strengths of the MIRAB thesis are primarily descriptive, whereas the analytical claims to have exposed what determines the evolution of the island economies merit reconsideration. [source] Window of Opportunity Opens: Asian and American Views of the International Economic ArchitectureASIAN ECONOMIC POLICY REVIEW, Issue 2 2009Wendy DOBSON F02; F13; F33; F55; F59 This paper compares US and Asian views of the international economic architecture including Asia's evolving regional institutions. Lessons from the global financial crisis are used to assess reforms of the financial institutions better to prevent and manage future crises. While G-20 leaders have increased the resources of the International Monetary Fund, much work remains to restore its legitimacy and independence and to define clearly the Financial Stability Board's mandate to strengthen financial oversight and regulation. The paper critiques proposals for a global super-regulator and concludes that while the global architecture is important, the tests of its success will be fewer government actions to self-insure and the willingness to heed warnings of future problems and take timely corrective actions. [source] Asian Currency Crisis and the International Monetary Fund, 10 Years Later: Overview*ASIAN ECONOMIC POLICY REVIEW, Issue 1 2007Takatoshi ITO This paper is an overview of the Asian currency crisis in Thailand, Indonesia, and South Korea in 1997,1998, with an emphasis on the role of the International Monetary Fund (IMF). It provides a detailed account of the development of the crisis and analyses and evaluates the content of IMF advice and its consequences. The size of the IMF package for each of these three countries is judged to have been too small. This paper also has a comparative perspective; the Mexican crisis is reviewed as a precursor to the Asian crisis to see what the IMF learned, and how it prepared, for future crises. The causes of the crises and IMF conditionality for the post-Asian crisis countries, Russia, Brazil, Turkey, and Argentina, are also compared to the Asian crisis countries. By agreeing to maintain a fixed exchange rate, for example, the IMF is judged to have been "softer" in its approach to the post-Asian crisis countries. [source] | ||||||||||||||||||||||||||||