Finance & Development articles from June 1998

Finance & Development archives from June 1998

The Asian crisis and the changing role of the IMF. (includes related article on purposes of IMF)(Asian Crisis)
June 1, 1998... Since it began operations in 1946, the IMF has steadily evolved in response to changes in the world economy. What steps is it taking to meet the new challenges posed by the Asian crisis? The asian crisis has focused unprecedented attention on...

What lessons does the Mexican crisis hold for recovery in Asia?(Asian Crisis)
June 1, 1998... The Mexican and the Asian crises have striking similarities. A comparison of the two provides lessons about how emerging economies can safeguard themselves against sudden capital outflows. Michel Camdessus, the Managing Director of the IMF,...

Asia's crisis: a market perspective.(Asian Crisis)
June 1, 1998... Recent events in Asia have posed a particular challenge for international capital markets. How can net private capital flows best be restored? ASIANS CURRENCY CRISIS - the opening act of which was the July 2, 1997 devaluation of the Thai baht...

The challenge of managing global capital flows. (includes related article on relation of capital flows on Asian economic crisis)(Asian Crisis)
June 1, 1998... The financial crisis that erupted in Asia in 1997 vividly demonstrated the risks associated with free capital flows. But capital mobility is a goal worth pursuing, given the potential benefits. With the right policies, countries can manage the...

The Asian crisis: causes and cures. (Asian Crisis)(Cover Story)
June 1, 1998... Causes and Cures The financial crisis that struck many Asian countries in late 1997 did so with an unexpected severity. What went wrong? How can the effects of the crisis be mitigated? And what steps can be taken to prevent such crises from...

Building on East Asia's infrastructure foundations. (includes related articles on private infrastructure projects in Asia)(Asian Crisis)
June 1, 1998... The halfway measures taken toward privatizing East Asia's infrastructure have resulted in weak corporate governance, vulnerability to crises, and inefficiency. Faced with slowing growth, the region needs to shift its focus to increasing...

Aging in the Asian tiger economies. (Asian Crisis)
June 1, 1998... What challenges will the aging of populations in Asia's tiger economies pose for their social insurance and educational systems? What effects will this have on their budgets, and on their saving rates and total savings, as well as on those of the...

The supply side of global bribery.
June 1, 1998... Discussions of how to combat corruption have focused more sharply on the recipients of bribes than on those who pay them. A more balanced approach, which is emerging, promises to make anticorruption efforts more effective. When the talk turns...

Uncertainty deters private investment in the West Bank and Gaza Strip.
June 1, 1998... The accords signed by Israel and the PLO in 1993 and 1994 heralded greater prosperity for Palestinians. But an adverse external trade environment has discouraged private investment, and economic conditions have deteriorated. In September 1993,...

Monetary operations in the European Economic and Monetary Union.
June 1, 1998... The European Monetary Institute and Europe's national central banks have made good progress in preparing a "menu" of efficient, market-based monetary instruments from which the European Central Bank, to be established by July 1, 1998, will...

Civil service reform in Africa: mixed results after 10 years. (includes related article on severance packages for public employees)
June 1, 1998... Although many African countries have taken important steps toward restructuring their civil services by downsizing them, less progress has been made in revamping pay and promotion policies. Cost-cutting measures need to be accompanied by bold...

The international use of currencies: the U.S. dollar and the Euro.
June 1, 1998... Why does the international monetary system seem to need only one or, at most, a few national currencies to carry out international transactions? This article offers an explanation, discusses recent trends in the international use of the dollar,...