The IMF and the World Bank at Sixty presents a selection of essays prepared for the Group of Twenty-Four Developing Nations (G24), by some of the foremost authorities in their fields, which address these challenges and suggest the need for reform in several areas. Ariel Buira's introduction presents a critical overview of the functioning of the IMF and the international monetary system, underscoring a number of shortcomings that could be remedied to make it more supportive of development through changes in governance. The other essays focus on two areas: financial issues, particularly the prevention of financial crises; and secondly, the policies of the Bretton Woods institutions. All these essays have one fundamental aim: to improve the functioning of the global economy and to better enable the developing countries to share in the gains in prosperity of recent decades
1 Introduction by Ariel Buira 1
2 The IMF at sixty : an unfulfilled potential? by Ariel Buira 5
3 Conditionality and its alternatives by Devesh Kapur 31
4 Mission creep, mission push and discretion : the case of IMF conditionality by Sarah Babb and Ariel Buira 59
5 Up from sin : a portfolio approach to salvation by Randall Dodd and Shari Spiegel 85
6 Trip wires and speed bumps : managing financial risks and reducing the potential for financial crises in developing economies by Ilene Grabel 117
7 A fiscal insurance scheme for the Eastern Caribbean currency union by Laura dos Reis 151
8 Who pays for the World Bank? by Aziz Ali Mohammed 181
9 Reinventing industrial strategy : the role of government policy in building industrial competitiveness by Sanjaya Lall 197
10 Assessing the risks in the private provision of essential services by Tim Kessler 235
11 How well do measurements of an enabling domestic environment for development stand up? by Barry Herman 281
12 The cocoa market under neoliberalism by Irfan ul Haque 311