국제통화기금의 효율성을 경제위기 회복의 케이스를 예로 들어 분석(한국과 말레이시아 경제위기 케이스 비교 분석)
The Role of IMF in the Global Economy
Korea vs. Malaysia
Relevance of the IMF in the Global Economy
Most of the economies in the world ended up in the bottom of a global recession that led to a massive business contraction. This led to a rise in unemployment and shrinking in government revenues. In recent statistics, large industrialized economies have begun to recover from the global recessions (Copelovitch, 2010.p.304). Many industrialized countries and emerging and developing nations have adopted economic stimulus schemes to rescue their economies from the economic crisis. Many countries have resulted to borrowing from the International Monetary Fund to add to their investments packages. This crisis exposed the fundamental weaknesses in the global markets demonstrating how current economies are greatly interdependent resulting to complex policy dilemmas (Khang, 2010).
Placing the IMF in the midst will enable both the member states and even the states that are affected by economic crises to have an immediate way of recovering from the scourge and at the same time benefit from the comprehensive benefits the IMF offers in its programs (Zhu, 2011). While the main role of the IMF has been combating the Financial Crisis, the ultimate focus should be on ensuring a smooth and efficient functioning of the global financial markets that uphold the wellbeing of a country as well as protecting the taxpayer’s interests and facilitating suitable environment. This should prevent future crisis by providing good domestic and legislative regulations (Truman, 2009).
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Copelovitch S. M. (2010). The International Monetary Fund in the Global Economy New York: Cambridge University Press.
IMF Center (2005). What is the International Monetary Fund and What does it do. Retrieved Dec 7th 2011 from: http://www.imf.org/external/np/exr/center/students/hs/think/lesson2.pdf
Khang H. S (2010). Conference to Focus on Asia’s Role in Global Economy. Retrieved Dec 7th 2011from: http://www.imf.org/external/pubs/ft/survey/so/2010/new070910a.htm
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Yoon H. (2005). The Changing Role of the IMF: Evidence from Korea’s Crisis. Journal of the Asian Perspective Vol. 29, No2. Pp.179-201
Zhu M. (2011). The Evolving Role of the IMF in the Global Economy. Retrieved Dec 7th 2011 from: http://www.imf.org/external/np/speeches/2011/101711.htm