How the IMF learned from the financial crisis
The International Monetary Fund has often been criticized for its rigid commitment to a doctrinaire view view of economic development. But the IMF did learn and adapt its policies as a result of the financial crisis. That is the conclusion of Cornel Ban and Kevin Gallagher, in their introduction to a special issue of Governance. Change was driven by three factors: “IMF staff politics, a string of innovations coming from academic and IMF economists, and the emerging economic powers’ creative leveraging of institutional fora.” Read the article. Related reading: On the Washington Post website, Ban and Gallagher recap the main findings from the special issue.
