Abstract
This chapter is devoted to the origins of the IMF and to its principal provisions and operation. A brief appraisal is followed by a few suggestions for further reading.
Any “reforms” that would make the IMF “democratic” and “universal” and its support “automatic” would make it inefficient and ineffective and would lead to its eventual demise as a useful instrument of world economic development. It should not be turned into a satellite or replica of the United Nations.
G. Haberler
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References
A. IMF publications
In addition to the Annual report of the Executive Board, the Summary proceedings, Annual meeting of the Board of Governors, the Annual report on exchange arrangements and exchange restrictions, the Fund publishes the following reviews: International Financial News Survey (weekly up to 28 July 1972), IMF Survey (fortnightly, since 14 August 1972); International Financial Statistics and Balance of Payments Statistics (monthly and yearbook issue); Government Finance Statistics Yearbook; Direction of Trade Statistics (monthly; jointly with the IBRD); World Economic Outlook (twice a year); Staff Papers (four issues a year) and Finance and Development (quarterly; jointly with IBRD, designed to explain the operation of the two organizations) regularly publish interesting articles about the IMF.
See also Selected decisions of the International Monetary Fund and selected documents (12th ed., 1986). Papers of a Pamphlet Series, written by IMF officials, appear at irregular intervals, notably: M. Ainley, The General Arrangements to Borrow (1984)
M. Ainley, Technical assistance and training services of the International Monetary Fund (1985)
M. Ainley, Selected publications of Sir Joseph Gold on the International Monetary Fund and monetary law, Heidelberg, Recht und Wirtschaft, 1990.
Since 1981 the Fund also releases Occasional Papers, e.g.: B. Vibe Christensen, Switzerland’s role as an international financial center (July 1986)
B. Vibe Christensen, Fund-supported programs, fiscal policy, and income distributions (Sept. 1986)
P. S. Heller, Aging and social expenditure in the major industrial countries, 1980–2025 (Sept. 1986).
See also, The International Monetary Fund, 1945–1965. Twenty years on international monetary cooperation (1969) — Vol. 1: J. K. Horsefield, Chronicle
The International Monetary Fund, 1945–1965. Twenty years on international monetary cooperation (1969) — Vol. 2: M. G. De Vries et al., Analysis
The International Monetary Fund, 1945–1965. Twenty years on international monetary cooperation (1969) — Vol. 3: Documents (reproducing most of the documents referred to in the first two volumes)
M. G. De Vries, The International Monetary Fund, 1966–71, The system under stress (1976): 2 volumes; trace in detail the steps which have led to the Fund’s main policy decisions (Vol. 2 reproducing documents)
M. G. De Vries, The International Monetary Fund, 1972–1978. Cooperation on trial (1986): 3 volumes (Vol. 3 is a compilation of documents)
M. G. De Vries, The IMF in a changing world, 1945–85 (1986), paperback containing updated articles
Problems of international money, 1972–85 (ed. M. Posner, 1986), papers of a seminar.
B. Other publications
At irregular intervals bibliographies on the abundant literature concerning the Fund and the international monetary system are published in the Staff Papers, the last by A. Saida, relates to 1984 (in the December 1985-issue).
J. Williamson, The lending policies of the International Monetary Fund (Institute for International Economics, Washington, 1982)
L. T. Katseli, Devaluation: a critical appraisal of the IMF’s policy prescriptions, American Economic Review, May 1983
R. Vaubel, The moral hazard of IMF lending, The World Economy, September 1983
G. Biron, J. Mont, G. Noppen, Le DTS, Revue de la Banque, 1985, No. 8.
C. F. Bergsten & J. Williamson, The multiple reserve currency system and international monetary reform (Institute for International Economics, Washington, 1982)
J. Williamson, The exchange rate system (Institute for International Economics, rev. ed., Washington, 1985)
J. Williamson (ed.), IMF conditionality (Institute for International Economics, Washington, 1983)
B. Tew, The evolution of the international monetary system, 1945–85 (3rd ed., London, Hutchinson, 1985).
C. D. Finch, The IMF. The record and the prospect, Princeton, NJ, International Finance Section, 1989
Committee on Banking and Urban Affairs, Role of the International Monetary Fund (Hearing before the Subcommittee on International Development Finance, Trade and Monetary Policy, H.R., 101st Congress, 2nd session, March 1, 1990), Washington, U.S. Government Printing Office, 1990.
The extracts quoted are from: B. Tew, The International Monetary Fund: its present role and future prospects (Princeton, Princeton University Press, 1961)
C. de Ribet-Petersen, Les droits de tirage spéciaux, Economie Appliquée, 1971, No. 3
H. G. Johnson, On living without an international monetary system, Euromoney, April 1975
H. G. Johnson, World inflation and the international monetary system, Three Banks Review, Sept. 1975
F. Machlup, The need for monetary reserves, Banca Nazionale del Lavoro Quarterly Review, Sept. 1966
S. Mookerjee, Policies on the use of the Fund resources, IMF Staff Papers, Nov. 1966
A conversation with Mr. Witteveen, Finance and Development, Sept. 1978.
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van Meerhaeghe, M.A.G. (1992). The International Monetary Fund. In: International Economic Institutions. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3576-4_2
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