Justification of criticism of the international financial institutions
Dzenan Djonlagic,Amra Kozaric +1 more
TLDR
In this article, the authors explore the arguments pro and concerning the strategic effect, policy, and working methodology of international financial institutions in view of finding a solution to the global financial crisis and global prevalent financial problems, and also consider the reasons for the justification or otherwise of their being part of the global interconnected financial system.Abstract:
As more than half a century has passed since the establishment of the
international financial institutions (IMF, World Bank), this paper analyzes
the opinion that these institutions have not accomplished their mission. They
generally admit that they have not succeeded in the activities that they set
out to accomplish, a propos of gathering funds for countries faced with
economic gaps and helping them to maintain long term economic growth and
development. We show that these financial institutions have done nothing to
reduce poverty and financial disparities, to increase their own transparency,
responsibility and management, especially with the public participation of
developing countries, or to create a more effective loans system. In this
paper the main goal of research is to explore the arguments pro and contra
the strategic effect, policy, and working methodology of the international
financial institutions in view of finding a solution to the global financial
crisis and global prevalent financial problems, and also to consider the
reasons for the justification or otherwise of their being part of the global
financial system.read more
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References
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Journal ArticleDOI
Capital-market Liberalization, Globalization, and the IMF
TL;DR: In the early 1990s, the IMF and the US Treasury tried to push capital market liberalization around the world, encountering enormous opposition from developing countries, but from economists who were less enamoured of the doctrines of free and unfettered markets, of market fundamentalism, that were at that time being preached by the international economic institutions as mentioned in this paper.
Journal ArticleDOI
The Future of the IMF and the World Bank
TL;DR: The Bretton Woods sisters, the International Bank for Reconstruction and Development (henceforth the World Bank) and the Inter? national Monetary Fund (IMF), were set up in 1944 as discussed by the authors.