Role of the IMF in the Global Financial Crisis
16 Pages Posted: 19 Apr 2013
Date Written: October 19, 2011
In this article, I review the role of the IMF in the global crisis and argue that the Fund has emerged as a powerful institutional force, providing analysis and recommendations that have served as the basis of official action on several fronts. By contrast, the Fund was barking up the wrong tree when it focused its attention on the global imbalances and adopted the Surveillance Decision in the run-up to the crisis in 2006-07.
Keywords: global economic crisis, international financial crisis, International Monetary Fund policy, Great Recession, asset bubbles, avoiding a financial crisis
JEL Classification: N22, N24, O16, G01, G15, F53
Suggested Citation: Suggested Citation