The paper deals with the principal-agent relationship at the International Monetary Fund (IMF). We argue that residual … control rights at the IMF are vested with the critical shareholders, the countries included in the G-7. This group controls … vast financial resources and enjoys the highest regulatory and governance standards among IMF members. Imperfect incentives …

The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past … three years. Relying upon survey data collected in 1998 and 1999, we explore the role of the IMF in Korea as perceived by … its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However, those …

The IMF attempts to stabilize private capital flows to emerging markets by providing public monitoring and emergency … when they are issued in conjunction with IMF-supported programs, as if the existence of a program conveyed positive … information to bondholders. The influence of IMF monitoring in bond markets is especially pronounced for countries vulnerable to …

This paper examines whether the IMF high interest rate policy was suitable for crisis-ridden East Asian economies …

Using panel data for 157 countries over the period 1999-2005 we empirically investigate the politics involved in IMF … find inflation forecasts are systematically biased downwards for countries with greater IMF loans outstanding relative to … GDP, indicating that the IMF engages in “defensive forecasting.” Countries with a fixed exchange rate regime also receive …

The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past … three years. Relying upon survey data collected in 1998 and 1999, this paper explores the role of the IMF in Korea, as … perceived by its citizens. In the eyes of the Korean people, the IMF helped their economy to recover from the crisis. However …

By examining the Fund's views about macroeconomic stability, the effectiveness of IMF-supported stabilization programs …, and Turkey's macroeconomic policies, this paper demonstrates that both the IMF and Turkey share the responsibility for the … programs from the IMF despite the overall lack of implementation of the Fund's conditionality may be consistent with the …

We consider some of the implications of a proposed reform of the voting system of the IMF in which EU countries cease …. Using voting power analysis we show that the reform could be very beneficial for the governance of the IMF, enhancing the …