(Download) "Crises and Recoveries: Multinational Failures and National Successes." by The Cato Journal # eBook PDF Kindle ePub Free
eBook details
- Title: Crises and Recoveries: Multinational Failures and National Successes.
- Author : The Cato Journal
- Release Date : January 22, 2003
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 256 KB
Description
The overused phrase "economic crisis" became surprisingly familiar over the past decade, being more often used than the word "panic" a century ago. The more the International Monetary Fund attempted to predict and repair economic crises, the more unpredictable and irreparable such crises have seemed to be. Perhaps the cure is not helpful. Perhaps the cure is the more serious disease. Criticism of IMF lending generally focuses on two issues: (1) the allegedly counterproductive impact of IMF-demanded adjustment programs on the borrowing countries' economic performance, and (2) the moral hazard effect in which the sheer availability of loans at below-market interest rates encourages more national politicians and their foreign lenders to take imprudent and excessive risk.
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