The Evolution of the International Monetary Fund in Response to the Global Financial Crisis

2017 ◽  
pp. 17-27
Author(s):  
Giuseppe Parigi ◽  
Francesco Paternò
Keyword(s):  
Financial Crisis ◽  
International Monetary Fund ◽  
Global Financial Crisis ◽  
The Global Financial Crisis ◽  
The International Monetary Fund

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

2022 ◽  
Vol 42 (1) ◽  
pp. 5-24
Author(s):  
Cosimo Magazzino ◽  
Marco Mele
Keyword(s):  
Financial Crisis ◽  
International Monetary Fund ◽  
Global Financial Crisis ◽  
Economic Policies ◽  
A Posteriori ◽  
Ex Ante ◽  
The Global Financial Crisis ◽  
The International Monetary Fund ◽  
Economic And Financial Crisis ◽  
The Imf

ABSTRACT This paper aims to analyze the innovations introduced in the functions of the International Monetary Fund in the context of the 2008 economic and financial crisis. This promoted an action that aimed to strengthen the surveillance function through the adoption of the Integrated Surveillance. Thus, alongside the traditional conditionality based on an a posteriori implementation of adequate economic policies, a criterion of ex ante conditionality in the precautionary branches was also introduced or based on the economic characteristics of the country to be financed. Concerning traditional conditionality, it will be asked whether the IMF has adopted a less extensive approach than its role.

Note Purchase Agreement Between the People's Bank of China and the International Monetary Fund

Policy Papers ◽  
2009 ◽  
Vol 09 ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
International Monetary Fund ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Balance Of Payments ◽  
Financial Resources ◽  
Bank Of China ◽  
Emerging Market Countries ◽  
The Global Financial Crisis ◽  
The International Monetary Fund

In light of the international effort to ensure the adequacy of the financial resources available to the Fund, and with a view to supporting the Fund’s ability to provide timely and effective balance of payments assistance, particularly to developing and emerging market countries affected by the global financial crisis, the PBC agrees to purchase from the Fund promissory notes.

scholarly journals A fresh view twenty years on: The Asian financial debacle and the Minskyan lessons learnt by the International Monetary Fund

2018 ◽  
Vol 63 (218) ◽  
pp. 129-156
Author(s):  
Ognjen Radonjic ◽  
Miodrag Zec
Keyword(s):  
Financial Crisis ◽  
International Monetary Fund ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Capital Controls ◽  
Regional Economies ◽  
Financial Difficulties ◽  
Financial Liberalisation ◽  
The Global Financial Crisis ◽  
The International Monetary Fund

In this paper we shall sketch the anatomy of the Asian financial crisis which erupted twenty years ago. In order to answer the question of how and why this crisis developed and what went wrong in its aftermath we embrace the Financial Instability Hypothesis of the seminal post- Keynesian economist Hyman P. Minsky. The real causes of the Asian crisis were endogenously developed euphoric expectations that followed financial liberalisation and deregulation and propelled the creation of an inverted capital structure and financial fragility. After the initial crisis and subsequent abrupt reverse of investor?s sentiments, the International Monetary Fund intervened and multiplied financial difficulties that strangled regional economies. Fortunately, gradually and in line with the Minskyan approach to financial crises, the International Monetary Fund learned from its Asian mistakes, and starting from the outbreak of the global financial crisis in 2008 and the succeeding financial crisis in Eastern Europe in 2009, dropped its opposition to capital controls and its support for austerity measures in crisis-hit emerging market economies.

Part I International Capital Markets in Context, 3 International Organizations and the Capital Markets

2021 ◽  
Author(s):  
Jordan Cally
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Focal Point ◽  
International Capital ◽  
International Capital Markets ◽  
The World Bank ◽  
The Global Financial Crisis ◽  
The International Monetary Fund

This chapter examines the International Organization of Securities Commissions (IOSCO). Over the nearly four decades of its existence, as its composition and roles evolved, and in the absence of any other body, IOSCO became a focal point for oversight of international capital markets. Crises, first the regional Asian financial crisis of 1997–98 and then the global financial crisis, have dramatically changed IOSCO. Crises have also thrust capital markets into the international limelight, and led to the appearance of new international institutions, including the Financial Stability Forum (FSF) and the Financial Stability Board (FSB). Unlike IOSCO, both the FSF and the FSB were political initiatives. As such, they also drew into their orbit formal treaty organizations such as the International Monetary Fund (IMF) and The World Bank, among others. The chapter then looks at international financial institutions and the Financial Sector Assessment Program (FSAP).

A Past Returned, A Future Deferred

2020 ◽  
pp. 163-184
Author(s):  
Maya Nadkarni
Keyword(s):  
Financial Crisis ◽  
International Monetary Fund ◽  
Global Financial Crisis ◽  
Fiftieth Anniversary ◽  
Right Wing ◽  
Economic Prosperity ◽  
Economic Crises ◽  
Twentieth Anniversary ◽  
The Global Financial Crisis ◽  
The Right

This chapter examines how the experience of the crises fueled renewed complaints that remains of socialism prevented Hungarians from attaining a “normal” life of political civility and economic prosperity. It talks about Hungary's twentieth anniversary of 1989, in which the memory of the transition now only inspired the lament that “communism never ended.” With the anniversary of the events in 1989, new political and economic crises appeared to threaten the success of Hungary's postsocialist transformation. The chapter also narrates events on the fiftieth anniversary of the 1956 revolution in 2006 when the right-wing demonstrators protested the socialist-led government and had admitted to lying to win the election. It also discusses the global financial crisis in 2008 that hit Hungary with disproportionate force that lead to the first-ever International Monetary Fund bailout of an EU country.

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

ASPEK ETIK DAN SISTEMIK DALAM EKONOMI DAN BISNIS ISLAM

ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto
Keyword(s):  
Financial Crisis ◽  
Business Ethics ◽  
Moral Hazard ◽  
Global Financial Crisis ◽  
Financial Institution ◽  
Research Question ◽  
Academic Journals ◽  
Lehman Brothers ◽  
The World ◽  
The Global Financial Crisis

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis 

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