Research Catalog

Title

IMF performance in the run-up to the financial and economic crisis : IMF surveillance in 2004-07.

Publication

Washington, D.C. : International Monetary Fund, 2011.

Items in the Library & Off-site

Details

Additional Authors

• Lamdany, Ruben.
• Wagner, Nancy L. (Nancy Louise)
• International Monetary Fund. Independent Evaluation Office.

Description

ix, 46 p. : col. ill. +

Summary

"This evaluation assesses the performance of IMF surveillance in the run-up to the global financial and economic crisis and offers recommendations on how to strengthen the IMF's ability to discern risks and vulnerabilities and to warn the membership in the future. It finds that the IMF provided few clear warnings about the risks and vulnerabilities associated with the impending crisis before its outbreak. The banner message was one of continued optimism after more than a decade of benign economic conditions and low macroeconomic volatility. The IMF, in its bilateral surveillance of the United States and the United Kingdom, largely endorsed policies and financial practices that were seen as fostering rapid innovation and growth. The belief that financial markets were fundamentally sound and that large financial institutions could weather any likely problem lessened the sense of urgency to address risks or to worry about possible severe adverse outcomes. Surveillance also paid insufficient attention to risks of contagion or spillovers from a crisis in advanced economies. Advanced economies were not included in the Vulnerability Exercise launched after the Asian crisis, despite internal discussions and calls to this effect from Board members and others."--Executive summary.

Series Statement

Evaluation report / IEO

Uniform Title

Evaluation report (International Monetary Fund. Independent Evaluation Office)

Alternative Title

International Monetary Fund performance in the run-up to the financial and economic crisis

Subject

• International Monetary Fund > Evaluation
• Global Financial Crisis, 2008-2009
• International finance
• Risk assessment

Note

• CD-ROM contains background papers not included in the print report.

Bibliography (note)

• Includes bibliographical references (p. 37-38).

Additional Formats (note)

• Also freely available online.

Call Number

JBF 11-732

ISBN

• 9781616350789 (pbk.)
• 1616350784 (pbk.)

LCCN

2011489606

OCLC

712114013

Title

IMF performance in the run-up to the financial and economic crisis : IMF surveillance in 2004-07.

Imprint

Washington, D.C. : International Monetary Fund, 2011.

Series

Evaluation report / IEO

Evaluation report (International Monetary Fund. Independent Evaluation Office)

Additional Formats

Also freely available online.

Bibliography

Includes bibliographical references (p. 37-38).

Connect to:

Connect to report and background papers online

Added Author

Lamdany, Ruben.

Wagner, Nancy L. (Nancy Louise)

International Monetary Fund. Independent Evaluation Office.

Research Call Number

JBF 11-732 [Text]

*WSC-7419 [CD-ROM]