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Economic Crisis Impact On Changes In International Financial Institutions Operating

Author

Listed:
  • Slobodan Cerovic

    (Singidunum University, Belgrade)

  • Pero Petrovic

    (Institute of International Politics and Economics, Belgrade)

  • Stanislav Cerovic

    (Singidunum University, Belgrade, Serbia)

Abstract

The emergence and deepening global economic crisis is in large part reflected in the operation of international financial institutions and their current structure. Long-term financial crisis has increased demands for decisive reform moves in operating and structure of the IMF, World Bank Group and other global and regional financial institutions. This means that so far the results of their policies are inadequate and that their role is subject to critical observation. The crisis has imposed the need to reform international financial institutions and new global financial architecture. Changes in their structure and operation should lead to global economic stability. Members of the Euro zone are faced with a new attitude towards the international financial institutions, particularly the International Monetary Fund. Proclaimed missions of International Monetary Fund and World Bank clearly differ in theory, but with the passage of time their activities have become increasingly intertwined.

Suggested Citation

  • Slobodan Cerovic & Pero Petrovic & Stanislav Cerovic, 2013. "Economic Crisis Impact On Changes In International Financial Institutions Operating," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 4(2), pages 187-199.
    • Handle: RePEc:ris:utmsje:0079
    as

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    File URL: http://utmsjoe.mk/files/Vol.%204%20No.%202/B11_-_Cerovic_-_Petrovic_-_Cerovic.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    2. repec:rnp:ecopol:09111 is not listed on IDEAS
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    More about this item

    Keywords

    The Economic crisis; impact changes; structure functioning; financial institutions.;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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