IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpep/v2000y2000i4id90.html
   My bibliography  Save this article

How should the international monetary fund function in the modern world?

Author

Listed:
  • Mária Havrilová

Abstract

The International Monetary Fund is a remarkable survivor. It was created to carry out specific functions in a world that has since vanished. Its role in the world economy still remains central. But in recent times, it has faced considerable criticism, both in terms of its role and its performance. We examine why IMF programs are often ineffective in achieving their goals, and whether there are any prospects for strengthening the IMF's role to become a genuine global monitor of financial flows and monetary issues. Then we examine the Fund's major role as lender of last resort to members who experience balance of payments problems. In particular, it will argue that the IMF's reliance on "conditionality" as a means of affecting change in the domestic policy of some of its members is misguided. Finally, a few suggestions on how the IMF could improve its procedures and brief evaluation of the IMF's intervention in the Asian financial crisis.

Suggested Citation

  • Mária Havrilová, 2000. "How should the international monetary fund function in the modern world?," Prague Economic Papers, Prague University of Economics and Business, vol. 2000(4).
  • Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:90
    DOI: 10.18267/j.pep.90
    as

    Download full text from publisher

    File URL: http://pep.vse.cz/doi/10.18267/j.pep.90.html
    Download Restriction: free of charge

    File URL: https://libkey.io/10.18267/j.pep.90?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:90. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.