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International Monetary Fund. External Relations Dept.

This paper describes problems and prospects associated with urbanization. The paper sees the rapid urbanization in the less developed world not as a crisis that can be “dealt with” by urgent measures but as a major historical phenomenon that calls for analytical study as well as current action in the hope that it can be influenced to play a positive role in economic development. The paper also analyzes the exchange rates at the beginning of the 1970s.

Devesh Kapur John P., James M. Boughton, Roy Culpeper, Robert Picciotto, Alan S. Blinder, Mr. Manuel Guitián, Bimal Chakraborty, Mr. Sanjeev Gupta, Horst Ungerer, and Mr. Charles Enoch

Since it began operations in 1946, the IMF has steadily evolved in response to changes in the world economy. What steps is it taking to meet the new challenges posed by the Asian crisis?

Mr. Vito Tanzi

CORRUPTION distorts the role of government and is costly to society. Governments can minimize the opportunities for individuals to engage in corruption by reducing the role of the state in the economy.

CHARLES ENOCH and MARC QUINTYN

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund. External Relations Dept.
This paper highlights that the first quarter of 1981 was marked by a number of notable accomplishments in meeting the challenges currently facing the IMF. In addition to the completion of the final loan disbursements from the Trust Fund, the simplification of the SDR basket, and the decision to continue enlarged access to the IMF’s resources, the IMF reached agreement in principle with Saudi Arabia on a quota increase and on an arrangement to borrow resources to permit the IMF to continue its lending operations without interruption and for the smooth functioning of the recycling process.
International Monetary Fund. External Relations Dept.
This paper highlights that the current round of trade talks under the auspices of the World Trade Organization aims at better integrating developing countries—especially the small and poor ones—into the global trading system. For that reason, it was named the Doha Development Agenda when it was launched in late 2001. However, more than three years on, little progress has been made. It took a late July 2004 accord outlining “negotiating frameworks” in agriculture and industrial products just to keep the talks afloat.
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Hiroyuki Hino

This paper examines the trade and pricing policies in world agriculture. In the United States, the government pays farmers not to grow cereals and in the European Community, farmers are paid to grow more. Many have raised nominal producer prices but followed macroeconomic and exchange rate policies that left real producer prices unchanged or lower than before. Many have set up complex systems of producer taxation, and then established equally complex and frequently ineffectual systems of subsidies for inputs to offset that taxation.