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Introduction

In: The Economic Impact of International Monetary Fund Programmes

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  • Omer Javed

Abstract

IMF was borne out of the Articles of Agreement in 1945 at Bretton Woods, mainly to oversee that member countries adhered to the par value system. During the course of time, the role of IMF enhanced to correcting both BOP related issues and growth concerns. Research indicated that programme impacts on recipient countries were below par for both economic growth and macroeconomic stability, mainly as an outcome of greater thrust on the demand side of the economy, at the cost of neglecting the much needed supply side focus. NIE underlined the importance of acknowledging and reducing transaction costs, through revision of underlying Neo-Classical assumptions of IMF programmes, so that the important role institutions play in reaching improved growth and stability consequences is both understood and implemented.

Suggested Citation

  • Omer Javed, 2016. "Introduction," Contributions to Economics, in: The Economic Impact of International Monetary Fund Programmes, edition 1, chapter 0, pages 1-6, Springer.
    • Handle: RePEc:spr:conchp:978-3-319-29178-9_1
    DOI: 10.1007/978-3-319-29178-9_1
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