Padma Gotur, Timothy Lane, and Paul Masson, Editors
The second volume of the International Economic Policy Review, an annual publication, features a selection of 11 policy papers produced by IMF staff, highlights some of the research behind IMF-supported economic programs, and presents a range of policy choices in several economic areas.
The section on economic growth, inflation, and poverty includes papers that examine: the reasons for sub-Saharan Africa’s unsatisfactory growth performance, the continuing problem of rural poverty, the low-income-country debt crisis, and the IMF’s role in improving governance and combating corruption, and the real effects of high inflation. Capital account liberalization and financial sector vulnerability—areas of increasing concern to the IMF—are covered in the journal’s second section, which includes a discussion of trade policy in financial services and a case study of capital flight out of Russia. The final section is devoted to the exchange rate relations of advanced transition economies—those countries that are candidates for membership in the European Union and which will soon face a fundamental question: how best to ensure a smooth transition to monetary union with the euro zone?