Economic Crisis and the IMF: Does the IMF Need Reforms to Ensure Global Economic Stability?

10 Pages Posted: 11 Mar 2013 Last revised: 9 Apr 2014

Date Written: March 10, 2013

Abstract

The global economy has built a tangled and tortuous financial system model at a pace arduous to manage. After the financial crisis which was widely recognized in 2008, the International Monetary Fund (IMF) made several attempts to create an effective financial system. However, the organization is still unable to formulate policies and create mechanisms that would guarantee economic stability. The paper examines the reasons behind the IMF’s inability to manage the new financial model to ensure global economic stability. The paper outlines measures which the IMF should take in order to support sustained global economic growth and ensure financial stability.

Keywords: IMF, global economy, BRICS, economic and financial crisis, new financial system model, reforms, financial stability

JEL Classification: B12, B22, E63, F02, F33, O19

Suggested Citation

Owusu-Kodua, Derrick, Economic Crisis and the IMF: Does the IMF Need Reforms to Ensure Global Economic Stability? (March 10, 2013). Available at SSRN: https://ssrn.com/abstract=2231263 or http://dx.doi.org/10.2139/ssrn.2231263

Derrick Owusu-Kodua (Contact Author)

Ulyanovsk State University ( email )

L. Tolstogo str., House #42
Ulyanovsk, Ulyanovsk Region 432970
Russia

HOME PAGE: http://www.ulsu.ru/

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