Promising Avenues, False Starts and Dead Ends: Global Governance and Development Finance in the Wake of the Crisis
AbstractGrabel addresses three related questions. How is the crisis affecting the governance of the IMF and the influence that developing countries have within the institution; the policy space available to developing countries; and the prospects that alternative financial architectures will emerge as competitors or complements to the Fund? At this point it appears that IMF practice on capital controls has changed partly as a consequence of the crisis, that relatively autonomous developing countries are taking advantage of the policy space that has emerged, and that the global financial architecture is becoming more heterogeneous and multi-nodal. Developing countries do not yet enjoy more formal influence at the IMF as a consequence of the crisis. However, it is premature to conclude now that the formal and informal influence of developing countries will not increase in the coming years.
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Bibliographic InfoPaper provided by Political Economy Research Institute, University of Massachusetts at Amherst in its series Working Papers with number wp241.
Date of creation: 2010
Date of revision:
Global financial crisis; policy space for development; International Monetary Fund; capital controls; regional financial governance; global governance;
Find related papers by JEL classification:
- E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
- F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-13 (All new papers)
- NEP-MAC-2010-11-13 (Macroeconomics)
- NEP-PKE-2010-11-13 (Post Keynesian Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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