Everything Must Change so that the IMF Can Remain the Same

The impression the IMF creates with its reports is akin to that of the pro- fession as a whole, which was unable to revise its own principles and admit the significant problems with the dominant paradigm, even in the face of the Global Crisis of 2008.

Management and Economics Research Journal, 2018

I am of the view that MERJ is the first journal worldwide that has provided a special issue on the IMF. I have not come across any such publication as yet that has covered the topic of reforms in respect of managing and running the IMF. Hence, this issue would be an asset for academicians, policy makers, and researchers.

1989

Ankara : The Department of Management and the Institute of Management Sciences of Bilkent Univ. , 1989.Thesis (Master's) -- Bilkent University, 1989.Includes bibliographical references leaves 60-61.In this study, requirements o f the international monetary system and evolution o f the IMF's role in the system are studied. The IMF's role changed over the past years by force o f circumstances, moved towards long term lending, and recently involved in the negotiations o f debt reschedulings with cred itor banks. For this, it is criticised to have broken away from the principles o f the Bretton Woods conference where it was conceived. Recently, the IMF's role and functions become controversial· particu larly by high-debt developing countries.Kasapgil, M EminM.S

Management and Economics Research Journal

A prosperous and stable world economy is in the self-interest of every nation. The International Monetary Fund (IMF), which is a worldwide institution that facilitates prosperity and stability, was founded in 1944 to restructure the world economy ruined by the Second World War and to design the postwar international monetary system. Since its inception, IMF has been playing an important role in the promotion of world trade and solving Balance of Payments (BOP) difficulties of its member countries, especially the developing ones. Despite its significant contribution, the IMF has been severely criticized by academics, politicians, and public interest groups on the grounds that it is dominated by the developed nations, and hence better serves the interest of the wealthy nations as opposed to the world’s poor majority. Even after several reforms introduced over a period of 70 years to improve and strengthen the representation of the developing countries, there are four critical issues t...

Journal of Development Economics, 2005

postwar international monetary system, its regime of universal fixed exchange rates has disappeared and been replaced by an array of hard pegs, soft pegs and floating rates. But the two agencies that were an integral part of that system, the International Monetary Fund and the World Bank, still exist, albeit with different goals. The IMF continues to promote b.. .consultation and cooperation on international monetary problemsQ as mandated in its Articles of Agreement; however, this mission is very different in a world with capital flows, which had been widely regulated under the Bretton Woods system. David Vines and Christopher L. Gilbert have assembled an impressive collection of papers on the IMF and its current role in the financial system. This volume is the fifth in a series of books produced through the Global Economic Institutions Research Programme of the UK Economic and Social Research Council. The contributors are generally wellknown and ably present current thinking about the Fund's activities.

2009

SSRN Electronic Journal, 2000

World Economics, 2010

2009

On July 18-19, 2008, leading international scholars and senior policy makers from around the world met to discuss their experiences with the International Monetary Fund (IMF), IMF reform and regional cooperation. This report summarizes the main conclusions reached by the conference, focusing on what different regions consider their priorities in the IMF reform debate.

2020

The International Monetary Fund (IMF) seems to have undergone an unexpected shift in its policy advice in the aftermath of the 2008 global financial crisis. The Fund seems to be moving away from the ‘Washington Consensus’ towards more Keynesian and anticyclical policies. It is also more sympathetic to the possibility of capital controls (Clift 2008). Although the change in the Fund’s policy advice is certainly interesting, from another perspective, the lack of change at the IMF is indeed more puzzling. The institution has long been criticised for not granting enough representation to developing countries and emerging markets (Desai and Vreeland 2011). The U.S.’s disproportionate influence and the reflection of the post-war power structure in the voting system detract from its legitimacy as an institution. Furthermore, it is fast losing its influence among developing countries, which are looking for alternative sources of credit and/or accumulating reserves to avoid borrowing from th...