IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development

IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development

by Stanley Fischer
     
 

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ISBN-10: 0262562162

ISBN-13: 9780262562164

Pub. Date: 09/01/2005

Publisher: MIT Press

Stanley Fischer served as First Deputy Managing Director of the International Monetary Fund from 1994 to 2001. IMF Essays from a Time of Crisis collects sixteen essays written for the most part during his time at the IMF, each updated with Fischer's later reflections on the issues raised. The IMF drew much criticism for some of its actions during Fischer's tenure,

Overview

Stanley Fischer served as First Deputy Managing Director of the International Monetary Fund from 1994 to 2001. IMF Essays from a Time of Crisis collects sixteen essays written for the most part during his time at the IMF, each updated with Fischer's later reflections on the issues raised. The IMF drew much criticism for some of its actions during Fischer's tenure, and he vigorously defends the "battlefield medicine" practiced by the IMF during a series of economic crises,which included the problems of economic transition in the former Soviet bloc and the Asian financial crisis. Fischer addresses the subsequent calls for reform of the international financial system and makes the case for the IMF as an international lender of last resort.The first section of essays, "The Role of the IMF and the Reform of the International Financial System," considers the IMF's role in the international financial system in light of the crises of the 1990s. The second section, "Macroeconomic Policy, Stabilization, and Transition," examines such topics as exchange rate regimes, inflation, and Eastern Europe's relation to the European Union. The final section, "Poverty and Development," reflects Fischer's basic belief that economic policies should explicitly target poverty reduction. These engaging and accessible essays will appeal not only to economics students, economists, and policymakers but also to the general reader interested in the international monetary system.

Product Details

ISBN-13:
9780262562164
Publisher:
MIT Press
Publication date:
09/01/2005
Edition description:
New Edition
Pages:
528
Product dimensions:
6.00(w) x 9.00(h) x 1.25(d)
Age Range:
18 Years

Table of Contents

Prefaceix
Sourcesxiii
IThe Role of the IMF and Reform of the International Financial System1
1Introduction3
On the Need for an International Lender of Last Resort7
2Introduction33
The IMF and the World Bank at Fifty37
3Introduction67
The IMF and the Asian Crisis71
4Introduction95
The Role of the IMF: Presentation to the International Financial Institution Advisory Commission99
5Introduction115
Capital Account Liberalization and the Role of the IMF117
6Introduction135
Reforming the International Financial System139
IIMacroeconomic Policy, Stabilization, and Transition163
7Introduction165
Modern Central Banking169
8Introduction223
Exchange Rate Regimes: Is the Bipolar View Correct?227
9Modern Hyper- and High Inflations255
10Introduction323
Ending Moderate Inflations327
11Introduction383
Recollections of the United States' Role in the Israeli Stabilization385
12Introduction397
Stabilization and Growth in Transition Economies: The Early Experience401
13Introduction429
How Far Is Eastern Europe from Brussels?431
IIIPoverty and Development457
14Introduction459
Inflation and the Poor461
15Introduction485
ABCDE: Past Ten Years, Next Ten Years487
16Introduction501
Economic Reform and the Poor503
Index519

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