Finance & Developement Magazine

from March 1998
Last Number: September 2009

International Monetary Fund
ISSN 0015-1947

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Nbr. 46-3, September 2009

Point of View

Anticipating the Next Crisis

What can an EWS realistically hope to accomplish? How to go about developing an EWS. How to persuade policymakers. The bottom line.

Faces of the Crisis

Haiti. Haiti’s Lifeline from the United States. Côte d’Ivoire. Farming Made More Difficult. Argentina. No Port in This Global Storm. United States. Banking on a New Job. Japan. Driving into a Dead End. Spain. Frozen Housing Market.

Growth After the Crisis

China savings. Demand composition shifts.

Overhauling the System

New Deal Reforms. The system breaks down. The U.S. Treasury response. A new “New Deal”.

The Future of Reserve Currencies

When economics and politics intersect. Runner-up. Also-rans and other possibilities. Dark horse. Fragmented system.

Departments

From the Editor

In Brief

Increasing global liquidity. Hunger at historic high. Gadgets and gigawatts IMF blog.

People in Economics

Questioning a Chastened Priesthood

Overconfidence drives capitalism. Two sides or more. New field of research. Building a discipline. Boosted by the crisis. Place in economics. Lending credence. Thinking about thinking. Challenging the priesthood.

Back to Basics

What Is Monetary Policy?

Twin objectives. Independent policy. Conducting monetary policy. Transmission mechanisms. When rates can go no lower.

Picture This

The Three-Hundred-Year Low

As good as gold. England goes Dutch. Open that war chest. Era of volatility.

Also in This Issue

Delivering on Change

Extensive support. Delivering on promises. Modern loan terms.

Dial Growth

Short cut—at a price. Generation M. At an m-bank near you. Easier, faster, cheaper, safer. Role for policymakers.

Book Reviews

Successes of the International Monetary Fund: Untold Stories of Cooperation at Work

Money, Finance and Political Economy: Getting It Right

Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa

Data Spotlight

Flows to Eastern Europe

Where Do We Go From Here?

Looking ahead

Fiscal problems are unprecedented. Fiscal risks. Central banks acted decisively. Monetary policy faces unusual issues. Returning to normalcy. Greater fiscal discipline needed. Challenges to monetary policy. Elements of a strategy. Communication. International coordination key to successful exit.

Rebuilding the Financial Architecture

Widening the net. Resetting regulation. Reorganizing the regulators. Getting it right.

Sustaining a Global Recovery

Supply-side problems. Demand-side issues. Rebalancing public and private spending. Rebalancing demand across countries. Can low interest rates help? Can asia help? What role for non-asian countries?. What if rebalancing does not happen?.

What’s In and Out in Global Money