Alexander Swoboda is one of the originators of the bipolar view that capital mobility creates pressure for countries to abandon intermediate exchange rate arrangements in favor of greater flexibility and harder pegs. This paper takes another look at the evidence for this hypothesis using two...

Contents: 1. Introduction / Gerald Epstein -- Part I Capital flows and financial crises -- 2. Financial crises among emerging and developing economies in the modern era: a brief history and some stylized themes / Elissa Braunstein -- 3. Too good to be true: what the Icelandic crisis revealed...

Due to a growing public awareness, in the last 40 years environmental impacts of development projects financed and supported by the World Bank and the International Monetary Fund (IMF) have come into view. Since then, the member states have pressured both organizations to implement environmental...