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The global financial crisis and its effects on the international monetary funds

Author

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  • Cosimo Magazzino
  • Marco Mele

Abstract

This paper aims to analyze the innovations introduced in the functions of theInternational Monetary Fund in the context of the 2008 economic and financial crisis.This promoted an action that aimed to strengthen the surveillance function through theadoption of the Integrated Surveillance. Thus, alongside the traditional conditionality basedon an a posteriori implementation of adequate economic policies, a criterion of ex anteconditionality in the precautionary branches was also introduced or based on the economiccharacteristics of the country to be financed. Concerning traditional conditionality, it willbe asked whether the IMF has adopted a less extensive approach than its role. JEL Classification: E42; F02; F42; G20.

Suggested Citation

  • Cosimo Magazzino & Marco Mele, 2022. "The global financial crisis and its effects on the international monetary funds," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(1), pages 5-24.
    • Handle: RePEc:ekm:repojs:v:42:y:2022:i:1:p:5-24:id:2293
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    More about this item

    Keywords

    IMF; exchange rate; governance reform; surveillance function;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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