The International Monetary Fund in the Global Economy: Banks, Bonds, and Bailouts

Hardcover

ISBN 10: 0521194334 ISBN 13: 9780521194334

Publisher: Cambridge University Press, 2010

The explosive growth and increasing complexity of global financial markets are defining characteristics of the contemporary world economy. Unfortunately, financial globalization has been accompanied by a marked increase in the frequency and severity of financial crises. The International Monetary Fund (IMF) has taken a central role in managing these crises through its loans to developing countries. Despite extensive analysis and criticism of the IMF in recent years, key questions remain unanswered. Why does the Fund treat some countries more generously than others? To what extent is IMF lending driven by political factors rather than economic concerns? In whose interests does the IMF act? In this book, Mark Copelovitch offers novel answers to these questions. Combining statistical analysis with detailed case studies, he demonstrates how the politics and policies of the IMF have evolved over the last three decades in response to fundamental changes in the composition of international capital flows.

Book Description:

Mark Copelovitch demonstrates how the politics and policies of the International Monetary Fund (IMF) have evolved in response to fundamental changes in patterns of financial globalization. Combining statistical analysis with detailed case studies, Copelovitch offers an original explanation of the IMF's responses to financial crises over the last three decades.

About the Author:

Mark Copelovitch is Assistant Professor of Political Science and Public Affairs at the University of Wisconsin-Madison. Professor Copelovitch studies and teaches international political economy, with a focus on global financial governance, exchange rates and monetary institutions, the effects of global capital flows on national economic policies, and theories of international cooperation. Professor Copelovitch is a graduate of Yale University and Harvard University, where he received his Ph.D. in 2005. Prior to his appointment at Wisconsin-Madison, he was a postdoctoral fellow at the Center for Globalization and Governance at Princeton University.