Jacques J. Polak was the chief economist at the International Monetary Fund from 1958 to 1979. He later served as the Executive Director for the Netherlands at IMF and as President of the Per Jacobsson Foundation.
List of Boxes, Figures, and Tables
vii
Acknowledgments
ix
Introduction
xi
James M. Boughton
I. The Role of the International Monetary Fund
The Essence of Bretton Woods: Monetary Cooperation
3
(5)
The International Monetary Issues of the Bretton Woods Era: Are They Still Relevant?
8
(16)
Fifty Years of Exchange Rate Research and Policy at the International Monetary Fund
24
(26)
The IMF and Its EMU Members
50
(22)
The World Bank and the International Monetary Fund: A Changing Relationship
72
(55)
The Articles of Agreement of the IMF and the Liberalization of Capital Movements
127
(10)
II. New Thoughts on the SDR
Should the SDR Become the Sole Financing Technique for the IMF?
137
(18)
Streamlining the Financial Structure of the International Monetary Fund
155
(25)
International Liquidity and the Role of the SDR in the International Monetary System
180
(29)
Peter B. Clark
III. International Economic Policy: Theory and Practice
The IMF Monetary Model at 40
209
(18)
The Two Monetary Approaches to the Balance of Payments: Keynesian and Johnsonian
227
(22)
Is APEC a Natural Regional Trading Bloc? A Critique of the `Gravity Model' of International Trade
249
(12)
Financial Relations between the Netherlands and Belgium: 1943 to 1993
261
(17)
Repairing the International Monetary System: An Unfinished Task?
278
(9)
Name Index
287
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