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Is there evidence that countries that followed the IMF's advice do better than countries that proceed in other ways?

The International Monetary System and the Less Developed Countries

Are the policy decisions of the Fund based on technical knowledge or do they reflect the political views of the larger members? Is the IMF position regarding the debt crisis conducive to a realistic solution? What can we expect from the Fund in the future?


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The paper also includes an evaluation of recent IMF programs, as well as an econometric analysis of the contractionary devaluation issue. Development of the American Economy.

The International Monetary Fund (IMF) and the World Bank Explained in One Minute

Economic Fluctuations and Growth. International Finance and Macroeconomics. International Trade and Investment.

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Advertisement Hide. Front Matter Pages i-xi. Pages Balance-of-payments Adjustment in LDCs.

The Less Developed Countries and the International Monetary System

Postscript to the Second Edition. Back Matter Pages About this book Introduction In this book the author investigates the relationship between the international monetary system and the less developed countries of the world.

In the period since growing concern has been shown over the international monetary problems which LDCs face, and since LDCs have been significant participants in the reform of the international monetary system. After tracing the evolution of the relationship between LDCs and the International Monetary Fund, the book goes on to examine, with full reference to the available empirical evidence, the major causes and consequences of LDCs' international monetary problems.


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  6. Topics covered include: export instability; the terms of trade; the demand for reserves and reserve adequacy; and adjustment difficulties.