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John Toye

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Edited by John Toye

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Edited by John Toye

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Trade and Development

Directions for the 21st Century

Edited by John Toye

This book questions what enduring lessons have been learnt about the interdependence of international trade and economic development during the last 50 years. Since the end of the Cold War and the advent of the WTO, developing countries have been forced to face the choice of whether, and to what extent, to integrate economically with the rest of the world. The key issue of international political economy is emphasized.
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John Toye

The International Monetary Fund (IMF) was established in 1947 as an international institution to manage international payments. It aimed to restore a system of multilateral payments for current transactions between its members; to reduce the duration and intensity of disequilibrium in member states’ balances of payments; and to promote exchange rate stability. The World Bank has long suffered from multiple conflicting objectives including sound banking, promoting development and neo-liberal policy advocacy. Certain reforms of the IMF are inextricably linked with counterpart reforms of the Bank. This chapter discusses the means of bringing the IMF and the Bank together around a new agenda.