The IMF and Global Financial Crises
Phoenix Rising?

Joyce traces the IMF's actions to promote international financial stability from the Bretton Woods era through the recent recession.

Joseph P. Joyce (Author)

9781107436862, Cambridge University Press

Paperback / softback, published 21 August 2014

262 pages, 17 b/w illus. 19 tables
22.9 x 15.2 x 1.5 cm, 0.39 kg

'Joe Joyce has produced a concise review of the IMF's sixty-five-year evolution. The book is comprehensive, informative, and provocative.' Edwin M. Truman, Peterson Institute for International Economics

The IMF's response to the global crisis of 2008–9 marked a significant change from its past policies. The Fund provided relatively large amounts of credit quickly with limited conditions and accepted the use of capital controls. This book traces the evolution of the IMF's actions to promote international financial stability from the Bretton Woods era through the most recent crisis. The analysis includes an examination of the IMF's crisis management activities during the debt crisis of the 1980s, the upheavals in emerging markets in the 1990s and early 2000s, and the ongoing European crisis. The dominant influence of the United States and other advanced economies in the governance of the IMF is also described, and the replacement of the G7 nations by the more inclusive G20, which have promised to give the IMF a role in their mutual assessment of policies while undertaking reforms of the IMF's governance.

1. Introduction
2. Bretton Woods
3. Transitions
4. The debt crisis
5. Global finance redux
6. Currency crises
7. The widening gyre
8. Fiscal follies
9. Lessons learned
10. The great recession
11. The world turned upside down.

Subject Areas: International business [KJK], Economic history [KCZ], Economic & financial crises & disasters [KCX], Political economy [KCP], International economics [KCL], Macroeconomics [KCB], International relations [JPS]