Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Secretary's Department.
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| ISBN: | 1451891016
9781451891010
1281604038
9781281604033
1462384404
9781462384402
1452736189
9781452736181
9786613784728
6613784729
9781451842906
1451842902
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| Notes: | Includes bibliographical references (pages 17-18).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | The recent blossoming of literature on international financial crises has demonstrated the variegation of causes leading countries to economic disaster. Once thought to be almost universally originating from fiscal and other macroeconomic policy errors, financial crises are now generally understood to emanate just as easily from external shocks or from internal structural imbalances. Less attention has been paid to the implications of this discovery for post-crisis economic and financial management. It has become fashionable to criticize the IMF for applying univariate solutions to multivariate problems, for being "an overbearing organisation with a well-thumbed book of macroeconomic-policy nostrums, "2 but that line of attack leads only to other questions. For example, if a country is initially in fiscal balance, does it follow that fiscal contraction is an inappropriate response to an external shock? More generally, does the uniqueness of each crisis and each country's circumstances imply that a unique response is required?
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| Other form: | Print version: Boughton, James M. Different strokes? [Washington, D.C.] : International Monetary Fund, Secretary's Dept., ©2001
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