Bretton Woods Institutions

South Centre/ILO/IPD Paper, October 2015

The Decade of Adjustment: A Review of Austerity Trends 2010-2020 in 187 Countries

By Isabel Ortiz, Matthew Cummins, Jeronim Capaldo, Kalaivani Karunanethy. Geneva: ILO, IPD Columbia University and the South Centre.

This paper: (i) examines the latest IMF government spending projections for 187 countries between 2005 and 2020; (ii) reviews 616 IMF country reports in 183 countries to identify the main adjustment measures considered by governments in both high-income and developing countries; (iii) applies the United Nations Global Policy Model to simulate (more…)

Policy Brief 16, September 2014

Resolving Debt Crises: How a Debt Resolution Mechanism Would Work

The issue of foreign debt has made a major comeback. This is due to the crisis in Europe, in which many countries had to seek big bailouts to keep them from defaulting on their loan payments.

Before this, debt crises have been associated with African and Latin American countries. In 1997-99, three East Asian countries also joined the indebted countries’ club. (more…)

Statement, 10 April 2014

Statement to the Ministerial Meeting of the Group of 24, Washington DC

Weak and uncertain global economic conditions

Before the world economy has been able to fully recover from the crisis that began more than five years ago, there is a widespread fear that we may be poised for yet another crisis, this time in emerging economies. (more…)

Research Paper 50, February 2014

Crisis Mismanagement in the United States and Europe: Impact on Developing Countries and Longer-Term Consequences

There are two major failings in policy interventions in the crisis in the US and Europe: the reluctance to remove the debt overhang through timely, orderly and comprehensive restructuring and the shift to fiscal austerity after an initial reflation.  These have resulted in excessive reliance on monetary means with central banks entering uncharted policy waters, including zero-bound interest rates and the acquisition of long-term public and private bonds.  (more…)

South Centre Paper, March 2013

The Age of Austerity: A Review of Public Expenditures and Adjustment Measures in 181 Countries.

This paper: (i) examines the latest IMF government spending projections for 181 countries by comparing the four distinct periods of 2005-07 (pre-crisis), 2008-09 (crisis phase I: fiscal expansion), 2010-12 (crisis phase II: onset of fiscal contraction) and 2013-15 (crisis phase III: intensification of fiscal contraction); (ii) reviews 314 IMF country reports in 174 countries to identify the main adjustment measures considered in high-income and developing countries; (iv) discusses the threats of austerity to development goals and social progress; and (v) calls for urgent action by governments to adopt alternative and equitable policies for socio-economic recovery. (more…)

Policy Brief 5, May 2011

Summary overview of the recent development of the agenda of financial reform.

A cursory read of the FSB’s report on progress in the implementation of G20’s reform agenda indicates how vast the agenda has become. Agreement on the international agenda is being accompanied by measures implementing this agreement at national level and at the level of the EU. (more…)

Research Paper 32, November 2010

Why The IMF And The International Monetary System Need More Than Cosmetic Reform.

This Research Paper argues that the G20 agenda misses some of the key issues that need to be dealt with in order to effectively reform the international monetary system so as to avert future global financial crises. The missing issues include enforceable exchange rate and adjustment obligations, orderly sovereign debt workout mechanisms and the reform of the international reserves system. (more…)

Analytical Note, July 2008

Financing for development from Monterrey to Doha.

This Analytical Note evaluates how far the commitments contained in the 2002 Monterrey Consensus were fulfilled. It also examines the adequacy of the Monterrey Consensus as a framework for guiding international policy decisions and actions in current circumstances, (more…)

Analytical Note, September 2007

Reform of World Bank governance structures.

This South Centre Analytical Note discusses potential governance reforms in the World Bank’s governance structures, with an understanding that some reforms become more or less imperative depending on the direction of the discussions around the long-term strategic direction of the Bank. (more…)

Analytical Note, August 2006

Comparative assessment of developing country participation in the governance of the global economic institutions.

This paper comparatively analyses developing country participation in the governance of the IMF, World Bank, and WTO and discusses the merits and demerits of the current governance mechanisms. (more…)

Analytical Note, October 2005

Changing Gears on Global Economic Policymaking Coherence: Policy Choices, Flexibility and Diversity in Development Strategies.

This TRADE Analysis provides a brief overview of the “Coherence” agenda in the World Trade Organization (WTO) and tries to inject a new perspective on how such agenda can be made to serve the development goals and interests of developing countries. (more…)

Special Commissioned Paper for the 19th G-24 Technical Group Meeting, August 2004

The World Development Report 2005: An Unbalanced Message on Investment Liberalization.

The principal message of the World Development Report 2005 of the World Bank to  the developing countries is that they should adopt liberal policies related to foreign  investment to spur economic growth and development, and that the development of  binding multilateral rules relating to foreign investment would create a favorable  climate for foreign investment in developing countries. (more…)


0

Your Cart