The chapters in this book consider the current approaches of the World Bank and IMF, and offer alternative proposals for the effective participation of developing countries in these institutions. In doing so, the volume ranges from discussions on reforming the IMF and its conditionality, the operations of financial markets, debt workouts and restructuring, management of capital flows, debt sustainability and crisis prevention, to Millennium Development Goods and the global partnership for development.
Contributors to this volume
Foreword by Dani Rodrik
Introduction by Ariel Buira 1
1 The Governance of the IMF in a Global Economy by Ariel Buira 13
2 Who pays for the IMF? by Aziz Ali Mohammed 37
3 An Analysis of IMF Conditionality by Ariel Buira 55
4 Achieving Long-Term Debt Sustainability in Heavily Indebted Poor Countries (HIPCs) by Bernhard Gunter 91
5 The Poverty Reduction Strategy Paper Approach: Good Marketing or Good Policy? by Jim Levinsohn 119
6 Capital Management Techniques in Developing Countries by Gerald Epstein and Ilene Grabel and Ks Jomo 141
7 International Reserves to Short-Term External Debt as an Indicator of External Vulnerability: The Experience of Mexico and Other Emerging Economies by Javier Guzman and Rodolfo Padilla 175
8 Mechanisms for Dialogue and Debt-Crisis Workout that Can Strengthen Sovereign Lending to Developing Countries by Barry Herman 203
9 Developing a Global Partnership for Development by Martin Khor 227
10 International Financial Institutions and International Public Goods: Operational Implications for the World Bank by Ravi Kanbur 251
Index 267