Silent Revolution: The International Monetary Fund, 1979-89

By James M. Boughton. 2001

208 citations recorded by the source corpus.

This book is a narrative history of the coming of age of the International Monetary Fund as a participant in the international financial system. After the collapse of the par-value exchange rate system in 1973, as the landscape of the world economy became more precarious, the Fund was drawn into a more active lending role that required a deeper and more sustained involvement in the formulation of macroeconomic policies in countries facing economic crises. During the eleven years covered in this book, 1979 through 1989, a confluence of upheavals—an international debt crisis, a deepening of structural problems in low-income countries, and massive swings in exchange rates and external financial positions of major industrial countries—propelled the institution into a more central and pervasive role than ever before.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/b050e7e1a0d9bf1c8fa586a72dfaafa9a2802dde

Citations in the corpus

• Bankruptcy Procedures for Sovereigns: A History of Ideas, 1976-2001 (2002, unknown): “The first was IMF lending into arrears, which first occurred in the context of a stand-by arrangement with Bolivia in June 1986, and was formally adopted as part of the IMF’s debt strategy in May 1989 (see Boughton, 2001, pp. 485–98).”
• A General Equilibrium Model of Sovereign Default and Business Cycles (2011, unknown): “26 A nonlinear regression of the optimality condition implied by (14) and (15) produced estimates of = 0:65 and = 0:62, both statistically signi…cant (with standard errors of 0.”
• Exchange Rate Volatility and Productivity Growth: The Role of Financial Development (2009, unknown): “st = s e t+1 + ln(1 + i ) ln(1 + it) + t (13)”