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The International Monetary Fond As A Creator Of The Global Financial System

Author

Listed:
  • Spaseska Kitanovic, Violeta

    (University of Tourism and Management in Skopje, Macedonia)

  • Kozuharov, Saso

    (University of Tourism and Management in Skopje, Macedonia)

Abstract

IMF and World Bank were created after the Second World War as a result of monetary and fiscal Conference of the United Nations (UN) in the Bretton Wood, New Hampshire in July 1944. This conference was part of the efforts to finance the construction of Europe which was destroyed in the Second World War, and to protect the world from further economic depressions. The decision that was reached at Breton Wood was influenced by the global economic depression which had affected the world in the yearly thierties.That was the biggest crisis that with with the capitalism confronted. The unemployment grew with tremendous speed and for a short time period almost one quarter quarter of the U.S. working-age population was unemployed. English economist John Maynard Keynes claimed that the cause of economic recession is insufficient demand.

Suggested Citation

  • Spaseska Kitanovic, Violeta & Kozuharov, Saso, 2012. "The International Monetary Fond As A Creator Of The Global Financial System," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 3(1), pages 83-90.
    • Handle: RePEc:ris:utmsje:0051
    as

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    References listed on IDEAS

    as
    1. Peter Burnell & Oliver Morrissey (ed.), 2004. "Foreign Aid in the New Global Economy," Books, Edward Elgar Publishing, number 3026.
    2. Selin Sayek & Mr. Alexander Lehmann & Hyoung Goo Kang, 2004. "Multinational Affiliates and Local Financial Markets," IMF Working Papers 2004/107, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    International Monetary Fond; World Bank; regulation; economic recession;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F35 - International Economics - - International Finance - - - Foreign Aid

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