IDEAS home Printed from https://ideas.repec.org/a/hid/journl/v20y201218p109-130.html
   My bibliography  Save this article

The roots of the International Monetary Fund's difficulties: the pioneering contribution of Federico Caffè

Author

Listed:
  • Luciano Marcello Milone

    () (Università di Roma La «Sapienza» - Dipartimento di Economia e Diritto)

Abstract

The paper restates and evaluates Federico Caffè’s sharp and accurate analysis of the major shortcomings that have prevented the International Monetary Fund from carrying out its mandate effectively. It argues that Caffè explained the often disappointing performance of the Fund, throughout its existence, in terms of policies that progressively drifted away from the inspiring principles of its founders, particularly Keynes. In particular, the paper suggests that Caffè’s work is rich in insights and anticipations of subsequent developments due, above all, to his analysis of some severe weaknesses of the Fund’s governance system, which have kept the Fund from accomplishing its goal of fostering international financial cooperation.

Suggested Citation

  • Luciano Marcello Milone, 2012. "The roots of the International Monetary Fund's difficulties: the pioneering contribution of Federico Caffè," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 20(1), pages 109-130.
  • Handle: RePEc:hid:journl:v:20:y:2012:1:8:p:109-130
    as

    Download full text from publisher

    File URL: http://www.libraweb.net/articoli.php?chiave=201206101&rivista=61
    Download Restriction: Access to full text is restricted to subscribers

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

    More about this item

    Statistics

    Access and download statistics

    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:hid:journl:v:20:y:2012:1:8:p:109-130. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mario Aldo Cedrini). General contact details of provider: http://www.libraweb.net .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.