Finance & Development articles from June 2000

Finance & Development archives from June 2000

From the editor.
June 1, 2000... LIKE the mythological hydra, corruption is a many-headed foe that insinuates itself into every part of the social fabric, weakens the body politic, and jeopardizes prospects for economic growth. The menace of corruption has often seemed...

Horst K[ddot{o}]hler Takes Office as IMF Managing Director.(Brief Article)
June 1, 2000... Horst K[ddot{o}]hler took office as Managing Director of the IMP on May 1, 2000, succeeding Michel Camdessus, who resigned in mid-February. K[ddot{o}]hler, a German national, came to the IMF from the position of President of the European Bank...

Subverting Corruption.
June 1, 2000... The focus of countries' anticorruption efforts typically begins with consciousness raising, shifts to making governments less susceptible, and then addresses the problem of corrupt systems. When this third stage is reached, what measures can...

Making Anticorruption Agencies More Effective.
June 1, 2000... National anticorruption agencies, which could be a vital force in preventing corruption, are frequently so politicized that they are ineffective. In this article, two officials of Transparency International discuss how anticorruption agencies...

Governance Matters From Measurement to Action.
June 1, 2000... Policymakers generally rely on anecdotal evidence to assess the quality of governance, but this information is often misleading and incomplete. How can governments and civil society best encourage institutional change by developing and applying...

Stakeholders, Governance, and the Russian Enterprise Dilemma.
June 1, 2000... Over the past decade, Russia's efforts to achieve economic growth and restructure its economy have been seriously hampered by a dearth of investment and the proliferation of barter and arrears. Given current conditions, how might Russian...

Where Are Emerging Markets Headed?
June 1, 2000... LITTLE more than a year ago, emerging markets were in turmoil. Investors, still reeling from the Asian and Russian crises, were watching a disorderly devaluation of Brazil's currency, the real, threaten financial stability throughout Latin...

Trade Liberalization in the Caribbean.
June 1, 2000... Since the mid-i 990s, the governments of Caribbean countries have demonstrated a firm commitment to trade liberalization. What steps have they taken, what have the results been, and what further steps should they consider taking? DURING...

The Duration of Terms of Trade Shocks in Sub-Saharan Africa.
June 1, 2000... A characteristic common to the commodity-exporting developing countries of sub-Saharan Africa is that movement in their terms of trade is a key determinant of macroeconomic performance and has an important impact on real national incomes....

Tanzania's Experience with Trade Liberalization.
June 1, 2000... After Tanzania's economy deteriorated during the 1970s and early 1980s, it took a series of bold steps to liberalize trade. How successful have these efforts been in improving its economic performance, and what lessons can other developing...

Comrades or Competitors?
June 1, 2000... Trade Links Between China and Other East Asian Economies Has China's emergence as a major exporter dampened the prospects of other Asian economies? Although many have suggested that the answer is "yes," the evidence to support such an...

European Labor Markets and EMU Challenges Ahead.
June 1, 2000... R[ddot{u}]diger Soltwedel The debate about European Economic and Monetary Union (EMU) has so far been dominated by questions of fiscal convergence and macroeconomic stability. Far less attention has been given to EMU's effects on labor...

The New World of Banking.
June 1, 2000... Bali[tilde{n}]o, Tom[acute{a}]s J. T. Four trends are fundamentally altering the financial world: consolidation of institutions, globalization of operations, development of new technologies, and universalization of banking. Each of these...

Agricultural Development Banks: Close Them or Reform Them?
June 1, 2000... Agricultural development banks were established to extend credit and other financial services to customers not considered creditworthy by commercial banks. Although frequently unprofitable, they can play an important role in the fight against...

Improving the Framework for Reporting on International Reserves.
June 1, 2000... During the international financial crises of the late 1990s, deficiencies were uncovered in the publicly available information on countries' international reserves. A new template and operational guidelines have been developed to promote...

Development as Freedom.(Review)
June 1, 2000... Development as Freedom Alfred A. Knopf, New York, 1999, xvi + 366 pp., $27.50/Can$41.50 (cloth). A MARTYA SEN'S extensive writings on welfare economics, specifically on social choice, distribution, and poverty, constitute the...

A Stream of Windows.(Review)
June 1, 2000... A Stream of Windows Unsettling Reflections on Trade, Immigration, and Democracy MIT Press, Cambridge, Massachusetts, 1998, Iiii + 531 pp., $47.00 (cloth), $18.95 (paper). PROFESSOR Bhagwati has assembled in this volume an impressive...

Buy American.(Review)
June 1, 2000... Buy American The Untold Story of Economic Nationalism Beacon Press, Boston, Massachusetts, 1999, xii + 316 pp., $26 (cloth). THIS BOOK tells the long and checkered story of "Buy American" campaigns in the United States. The story...

International Capital Flows.(Review)
June 1, 2000... Martin Feldstein (editor) International Capital Flows University of Chicago Press, Chicago, Illinois, 1999, x + 467 pp., $60 (cloth), $25 (paper). Changes in technology and the opening up of many regions previously closed to...

The International Monetary Fund--Financial Medic to the World?(Review)
June 1, 2000... Lawrence J. McQuillan and Peter C. Montgomery (editors) The International Monetary Fund--Financial Medic to the World? A Primer on Mission, Operations, and Public Policy Issues Hoover Institution Press, Stanford, California, xvii +...

LETTERS to the editor.
June 1, 2000... Need for investment in infrastructure I take strong exception to Paul Streeten's article, "Components of a Future Development Strategy," (Finance & Development, December 1999) for the following reasons: First, I am now convinced that...