World Bank and the IMF
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A01=Jacques Polak
Author_Jacques Polak
Category=KCBM
Category=KCL
Category=KFFK
Category=NHTB
eq_bestseller
eq_business-finance-law
eq_history
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Product details
- ISBN 9780815771494
- Dimensions: 152 x 229mm
- Publication Date: 01 Sep 1994
- Publisher: Bloomsbury Publishing Plc
- Publication City/Country: US
- Product Form: Paperback
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In this book, Jacques J. Polak describes and analyzes the relationship between the World Bank and the International Monetary Fund (IMF) from the Bretton Woods conference in 1944 to the present. In their first three decades, the two institutions engaged in clearly distinct activities: the Bank made long-term loans to finance infrastructural projects in developing countries, while the Fund gave economic advice and short-term stabilization loans to both industrial and developing countries. But since the mid-1970s, the separate lives of the two "Bretton Woods Sisters" have become increasingly entangled and the demarcation lines between them have often become blurred. Polak focuses primarily on this period of the last fifteen to twenty years when many developing countries struggled with problems of adverse terms of trade, high interest rates, and debt; and both the Fund and the Bank strove to meet these countries' pressing needs for macroeconomic stabilization and structural adjustment. The book discusses in detail the origin of the conflicts between the institutions arising from their overlapping activities that culminated at the end of the 1980s and the measures taken since then to diffuse these conflicts. A Brookings Occasional Paper
