Structural adjustment, as measured by the number of adjustment loans from the IMF and World Bank, reduces the growth elasticity of poverty reduction. Growth does reduce poverty, but the author find no evidence for a direct effect of structural adjustment on growth. Instead, the poor benefit less...

This lecture series begins with a discussion of the reforms that have undertaken in the IMF since the mid-1990s, and particularly since the start of the Asian economic crisis. It concludes with a discussion of the potential future roles of IMF in Asia, and of Asian countries in the IMF,...

Nine preliminary lessons from the Great Recession for monetary and financial policies are presented. [3rd P. R. Brahmananda Memorial Lecture].