New Light or Fixed Presumptions?
The OECD, the IMF and the treatment of climate change issues
David Henderson
Volume 8, Number 4, 2007, pages 203 - 221
Two leading international agencies, the OECD and the IMF, are now becoming more closely involved with climate change issues, in conjunction with finance and economics ministries within their member countries. This broader official involvement opens up an opportunity: it could lead to a more informed ... Read more
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The Role of the IMF in Low-Income Countries
Recent issues
Domenico Lombardi
Volume 8, Number 4, 2007, pages 191 - 195
The question of whether the IMF should effectively engage with its low-income member countries has recently generated a wide debate among development economists, policymakers, and advocates from nongovernmental organizations. This note elaborates on the important role that the IMF can play in its lo ... Read more
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Multilateral Surveillance
Is the IMF shooting for the stars?
Graham Bird & Thomas D. Willett
Volume 8, Number 4, 2007, pages 167 - 189
The IMF presents multilateral surveillance as one of its core responsibilities and has recently sought to enhance this role via a series of multilateral consultations with systemically important countries, designed to coordinate exchange rate and macroeconomic policy in order to reduce the global ec ... Read more
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The Uneven Build Up of Global Reserves
Ways forward
Rohinton Medhora
Volume 8, Number 4, 2007, pages 143 - 166
The universal, large and uneven build up of international reserves is both a cause and a symptom of fundamental problems in the international financial system. The phenomenon represents several interlinked processes at play, so that "root cause" sorts of arguments must be treated with care. There ar ... Read more
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James Raymond Vreeland responds to Graham Hacche’s review article [World Economics, 8(2): 97-118] on his latest book, The International Monetary Fund: Politics of Conditional Lending
Volume 8, Number 3, 2007, pages 185 - 193
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Colin I. Bradford and Johannes F. Linn reply to Graham Bird’s review in the last issue of World Economics [8(2): 285-287] of their co-edited volume, Global Governance Reform: Breaking the Stalemate
Volume 8, Number 3, 2007, pages 183 - 184
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Graham Bird on Colin I. Bradford Jr. and Johannes F. Linn, editors, Global Governance Reform: Breaking the Stalemate FREE ARTICLE
Volume 8, Number 2, 2007, pages 285 - 287
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On Solving the World’s Economic Problems by Doing Something Unfashionable
Graham Bird
Volume 8, Number 2, 2007, pages 119 - 131
The world currently faces a number of economic problems. These include the large global economic imbalances that may prove to be unsustainable; international poverty, where projections suggest that it is unlikely that the Millennium Development Goals will be achieved; and stalled multilateral trade ... Read more
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A Non-Definitive Guide to the IMF
A review article
Graham Hacche
Volume 8, Number 2, 2007, pages 97 - 118
The recent book by James R. Vreeland, The International Monetary Fund: Politics of Conditional Lending, is meant to provide “a definitive guide to the organization”. This review article argues that it falls well short of this ambitious aim. It is already somewhat dated. It is almost entirely ... Read more
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Reform of the IMF and World Bank
Where do things stand?
Anthony Elson
Volume 8, Number 2, 2007, pages 65 - 95
Reform of the IMF and World Bank has been the focus of discussion since the middle of the last decade when efforts began to adapt the two institutions to deal with new problems of financial globalization associated with a series of financial crises among emerging markets. What began as a mainly “top ... Read more
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Addressing Climate Change
Is there a role to be played by the IMF?
Peter S. Heller
Volume 8, Number 1, 2007, pages 107 - 120
Global climate change has moved high on the agenda of key policy makers in many industrial countries. As a “global public good,” a coordinated global response in terms of efforts at mitigation will be critically necessary. Equally, many countries will face serious economic harm in the absence of ada ... Read more
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Aid for Trade
An essential component of the multilateral trading system and WTO Doha development agenda
Faizel Ismail
Volume 8, Number 1, 2007, pages 15 - 45
The paper argues that increased Trade and Aid are both essential to enhance the development of many developing countries. It argues further that trade-related technical assistance and capacity building is not only an essential element of the concept of special and differential treatment but i ... Read more
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Challenges to the Multilateral Trading System
Peter Sutherland
Volume 8, Number 1, 2007, pages 1 - 14
Ever since the GATT was established in 1948, the growth in international trade and economic growth has been remarkable. The traditional mercantilism of trade relations is less and less appropriate for the global economy. Bilateral trade deals make the business environment more complex and unpredicta ... Read more
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Agricultural Reform and Trade Negotiations
Can the Doha Round deliver?
Kimberly Ann Elliott
Volume 7, Number 4, 2006, pages 125 - 144
In this essay, Kim Elliott examines the patterns of support for agriculture across countries and commodities in the industrialized world. She then summarizes the approach to reducing trade-distorting support that came out of the Uruguay Round, and concludes with a discussion of the implications for ... Read more
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Running the IMF
Reducing political bias and increasing independence
Graham Bird
Volume 7, Number 4, 2006, pages 111 - 124
Increasing concern has been expressed by both scholars and officials about political bias and influence in the IMF. This is seen as threatening the effectiveness of the institution. But how can the problem be resolved? One way would be to try to create greater political balance by changing quotas an ... Read more
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Book Review
Johannes F. Linn on Ngaire Woods, The Globalizers: The IMF, The World Bank, and Their Borrowers
Volume 7, Number 3, 2006, pages 189 - 200
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From The Hong Kong WTO Ministerial Conference to the Suspension of the Negotiations
Developing countries reclaim the development content of the WTO Doha Round
Faizel Ismail
Volume 7, Number 3, 2006, pages 133 - 166
This paper makes an assessment of the WTO Doha Negotiations from the Hong Kong Ministerial Conference until the suspension of the Doha Round at the end of July 2006. The paper analyses the events from a development perspective distinguishing between the perspectives of two broad groups of developing ... Read more
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Are Mr de Rato’s Spectacles Rose Tinted?
Globalization and the IMF’s medium-term strategy
Graham Bird
Volume 7, Number 2, 2006, pages 115 - 131
Since the annual meetings of the IMF in September 2005, its Managing Director, Rodrigo de Rato, has been publicizing a medium-term strategy for the institution based on the organizing principle of globalization. Mr de Rato presents the challenges facing the Fund as global economic imbalances, capita ... Read more
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Book Review
David Bevan on Helping the Poor? The IMF and Low-Income Countries.
Volume 7, Number 1, 2006, pages 189 - 191
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Trade Policy 2006
A tour d’horizon
Razeen Sally
Volume 7, Number 1, 2006, pages 45 - 71
The global momentum in favour of trade liberalisation has slowed down; and there is more liberalisation-scepticism post-Washington Consensus. Chances are that the Doha Round will either collapse or deliver a very modest result. Both outcomes will leave the WTO in very serious trouble. For the WTO to ... Read more