Free Essay

International Economy Review

In: Historical Events

Submitted By sayoga92
Words 865
Pages 4
Adi Sayoga / 1021105018
Ekonomi Internasional

Sebuah tinjauan kritis atas bab dalam buku China’s Trade Pattern yang ditulis oleh Xiao-guang Zhang, 2000, dengan judul “Measuring Comparative Advantage”, Macmillan Press Ltd, hal. 75-89. Lahirnya pandangan bahwa setiap negara akan memperoleh keuntungan dengan melakukan perdagangan bebas dan spesialisasi terhadap produk unggulan menjadi dasar dari pemikiran keuntungan absolut yang dipopulerkan oleh Adam Smith pada abad ke-18, sebagai anti-tesis dari pandangan kaum merkantilis yang menganggap bahwa perdagangan antar negara hanya didorong oleh transaksi ekspor semata dan impor produk harus dibatasi. Pembagian kerja dan spesialisasi menjadi garis besar dari pandangan keuntungan absolut dari Smith dan selama beberapa dekade pemikiran Smith menjadi kunci utama dalam perdagangan internasional. Akan tetapi keuntungan absolut hanya ditentukan oleh perbandingan sederhana dari produktifitas buruh sehingga sangat mungkin sebuah negara tidak memiliki keuntungan absolut sama sekali. Hal inilah yang mendasari David Ricardo, seorang ekonom asal Inggris, untuk memodifikasi pemikiran Smith dengan suatu teori baru yang disebut keuntungan komparatif. Prinsip keuntungan komparatif telah memberi kontribusi yang signifikan terhadap efisiensi sumber daya dan pertumbuhan ekonomi dunia. Fenomena keuntungan absolut inilah yang ingin disajikan oleh Zhang dalam bab ini terutama bagaimana keuntungan komparatif ditentukan oleh perbandingan antara domestic shadow price dan border price. Konsep keuntungan komparatif yang digunakan dalam penulisan bab ini berdasarkan dampak yang dihasilkan terhadap alokasi sumber daya. Hal ini ditentukan dengan membanding domestic opportunity cost dengan related border price. Dalam menjawab hubungan antar variable tersebut, Zhang mengidentifikasi prinsip dasar dari keuntungan komparatif dari Ricardo dan Heckscher-Olin. Serta dilanjutkan dengan melakukan pengukuran terhadap keuntungan komparatif sebuah negara secara empiris, dengan menggunakan contoh negara China. Sebagai permulaan Zhang mecoba menjelaskan 2 jenis model keuntungan komparatif yang umum digunakan saat ini, Ricardian model dan Heckscher-Olin model secara singkat.

Versi Ricardo merupakan bentuk paling dasar dari keuntungan komparatif dengan menggunakan perbandingan dua negara dan dua komoditi perdagangan. Dengan menggunakan sampel Ricardian model produktifitas buruh menjadi determinan utama dalam teori ini. Ricardian model tidak menjelaskan tentang bagaimana mengukur keuntungan komparatif dari perdagangan multilateral. Heckscher-Olin berasumsi dengan juga memperhitungkan faktor selain produktifitas buruh, yaitu dukungan dari negara dan kualitas barang yang diperdagangkan akan dapat menjelaskan hal tersebut. Zhang melihat prospek China pada tahun 2000 sebagai sebuah negara berkembang yang memiliki kapital besar dengan menerapkan teori keuntungan komparatif untuk menciptakan perdagangan terspesialisasi yang efisien. Selanjutnya Zhang memaparkan 3 indikator dalam mengukur keuntungan komparatif yang dimiliki oleh suatu negara dengan tetap melihat relevansi dari penerapan ketiga indikator ini di China. (1) Kuantitas didasarkan atas karakteristik barang yang diperdagangkan melalui pemanfaatan faktor-faktor produksi. Untuk mendukung indikator ini diperlukan pengetahuan atas intensitas barang yang diperdagangkan dan dukungan domestik. (2) Perdagangan menjadi indikator yang paling mudah dilihat, semakin tinggi nilai ekspor dari sebuah komoditi dan nilai impor menemui titik keseimbangan maka dikatakan negara tersebut mendapat keuntungan komparatif dalam memproduksi barang dan (3) Harga

merupakan indikator yang membantu untuk menghindari terjadinya kemungkinan bias yang diakibatkan dari faktor tunggal –diluar ketiga faktor. Sebuah negara mempunyai keuntungan komparatif dalam memproduksi barang apabila domestic opportunity cost dari barang tersebut lebih rendah daripada harga pasaran dunia. Poin penting lain yang diangkat Zhang dalam tulisan ini adalah domestic resource cost (DRC) yang merupakan alat ukur atas biaya sosial dari sumber daya yang diperlukan oleh suatu industri tertentu untuk memperoleh atau bahkan menyimpan hasil perdagangan internasional. Meskipun konsep dalam mengukur DRC tidak banyak berubah sejak 1950an, metode penghitungannya mengalami telah mengalami perkembangan. Dengan melakukan perhitungan DRC diperkirakan akan mampu membandingkan biaya domestik dengan konteks internasional global secara akurat dalam perdagangan. Selain domestic resource cost ada pula konsep domestic resource productivity (DRP) untuk mengetahui sejauh mana keuntungan komparatif yang diperoleh suatu negara atas perdagangan. Apabila DRP dibawah angka ratarata satuan barang, produksi barang tersebut dipastikan mengalami kerugian komparatif,

semakin tinggi DRP maka semakin kuat produksi barang tersebut dan sudah barang tentu mendapat keuntungan komparatif. Diakhir bab, Zhang memberikan syarat-syarat dalam menerapkan DRP untuk menentukan keuntungan komparatif yaitu, konteks internasional-domestik dari rasio harga barang yang akan diperdagangkan, harga semu yang timbul akibat konversi faktor-faktor primer dan koefisien input-output perdagangan barang. Walaupun Zhang tidak menjelaskan tentang hambatan-hambatan dalam mencapai keuntungan komparatif, hal tersebut dapat dipahami karena fokus dari bab ini adalah untuk mengetahui sejauh mana prinsip keuntungan komparatif memenuhi kebutuhan perdagangan sebuah negara serta demi mengembangkan perekonomian dalam negeri. Perlu diketahui perdagangan akan semakin sulit ketika sudah dipengaruhi oleh permintaan yang fluktuatif, tingkat preferensi yang rendah meskipun konsumsi tetap serta fakto-faktor eksternal seperti kebijakan pemerintah dan kepentingan aktor-aktor didalamnya. Serta perlu ditambahkan kritik terhadap keuntungan komparatif yang memfokuskan kepada output yang dihasilkan oleh perdagangan bebas itu sendiri. Perdagangan bebas berimbas pada semakin rendahnya tingkat ekonomi di negara-negara berkembang. Rendahnya penerapan teknologi di negaranegara ini berakibat pada kualitas produk yang dihasilkan tentunya sehingga harga di pasaran akan jatuh. Kasus ini telah menimpa negara-negara di benua Afrika yang mengalami resesi akibat perdagangan yang tidak seimbang meskipun bebas. Dari segi penyajian tidak banyak yang bisa dikritik dari tulisan ini. Zhang mampu memaparkan keuntungan komparatif serta unsur-unsurnya dengan bahasa yang mudah dimengerti. Secara komprehensif Zhang telah memberikan pemahaman tentang keuntungan komparatif dan bagaimana hal tersebut berimbas bagi perdagangan internasional suatu negara. Terlebih lagi pertanyaan dari penulisan ini telah berhasil dijawab dengan baik oleh penulis.

Similar Documents

Premium Essay

Book Review

...Critical Book Review: States and Markets Susan Strange 1993 Susan Strange wrote States and Markets in 1994 and it was amazingly predictive of the future of the Internal Political Economy or Global Political Economy (IPE or GPE). Although there are some blind spots in her theory and mode, and she was not able to predict many things. She was still able to accurately describe the four main structures, which affect structural and relational power structures thereby directly affecting IPE. * The model she proposes in this book is not based on rigid theories of international relations that give no room for debate, which are erroneously based on some preconceived assumptions. First, one must understand how the author defines certain ideas and concepts differently. According to Strange “ Firstly a great deal of social theory is no more then description” (Strange, 10, 1994). She expands with the facts are well known but are arranged in a different order or category (Strange, 10, 1994). Susan Strange’s security structure is not rigid, like most other security models and it does not dictate a set of conditions nor does it bias itself to one nation. It is not a uniquely American perspective that assumes military dominance nor is it a British Empire that demands subjugation. It is more easily applied to developing nations that lack the military might of a super power due to its assumption of conventional forces only and lack of military. She theorizes that without protection...

Words: 2356 - Pages: 10

Premium Essay

Reference

...that you will use a minimum of eight (8) scholarly references (books and/or journal articles) as well as other sources. The following represent a sample of scholarly journals (in no particular order) in which to find articles to write your essay: * Applied Econometrics and International Development * International Economic Review * Industrial and Labor Relations Review * Journal of International Economics * World Competition * Business Law Review * Journal of World Trade * Journal of Economic Growth * Journal of Chinese Economic and Foreign Trade Studies * Business and Politics * Journal of Asia-Pacific Business * International Journal of Economics and Business Research * Global Business and Economics Review * Journal of Global Business Issues The following sources may also be useful (but note that these are not regarded as scholarly references so cannot be counted in your minimum): * The Economist - www.economist.com/ * The Wall Street Journal (Asia Edition) - asia.wsj.com/home-page * The International Economy - www.international-economy.com/ * MIT Sloan Management Review - sloanreview.mit.edu/about/ * China Brief - www.jamestown.org/chinabrief/ * China Development Brief - www.chinadevelopmentbrief.com/ * Business Standard [on India] - www.business-standard.com * The World Factbook - www.cia.gov/library/publications/the-world-factbook/ ...

Words: 831 - Pages: 4

Free Essay

International Business

...Journal of Business Venturing 27 (2012) 266–290 Contents lists available at SciVerse ScienceDirect Journal of Business Venturing International entrepreneurship research in emerging economies: A critical review and research agenda Andreea N. Kiss a,⁎, Wade M. Danis b, 1, S. Tamer Cavusgil c, 2 a b c Global Economics and Management Department Faculty of Economics and Business University of Groningen, 800 Postbus, 9700 AV Groningen, The Netherlands Peter B. Gustavson School of Business, University of Victoria, P.O. BOX 1700 STN CSC, Victoria, BC Canada V8W 2Y2 J. Mack Robinson College of Business, Institute of International Business, Georgia State University, P.O. Box 3989, Atlanta, GA 30303-3989, USA a r t i c l e i n f o a b s t r a c t This article systematically reviews and critically examines international entrepreneurship research in emerging economies (IEEE research), and articulates its importance, timeliness and relevance in consideration of the growing influence of emerging markets in the global economy. A systematic analysis of eighty-eight journal articles published over the last two decades reveals that IEEE research is a vibrant and rapidly growing stream of the broader international entrepreneurship (IE) domain, and that it is methodologically and topically diverse. Our review also shows that IEEE research has a limited presence in premier journals, is highly skewed in its geographic coverage, and is somewhat fragmented. We therefore inventory...

Words: 21137 - Pages: 85

Free Essay

Journal Rankings

...0951‐3574 1328‐8261 0963‐9284 1041‐0392 0155‐9982 0148‐4184 1032‐3732 0888‐7993 1744‐9480 1911‐382X 1030‐9616 0958‐5206 0361‐3682 1530‐0226 1073‐0516 1046‐8188 1049‐3301 1049‐331X 0168‐9673 0001‐6373 0001‐6918 0353‐4316 1212‐3285 4OR: Quarterly Journal of Operations Research A St A ‐ Advances in Statistical Analysis AACE International Transactions Abacus: a journal of accounting, finance and business studies Academia Economic Papers Academy of Accounting and Financial Studies Journal Academy of Entrepreneurship Journal Academy of Information and Management Sciences Journal Academy of Management Journal Academy of Management Learning and Education Academy of Management Review Academy of Marketing Science Review Academy of Marketing Studies Journal Academy of Taiwan Business Management Review Accident Analysis and Prevention Accountancy Business and the Public Interest Accounting Accountability and Performance Accounting and Business Research Accounting and Finance Accounting and Taxation Accounting and the Public Interest Accounting Auditing and Accountability Journal Accounting Commerce and Finance: The Islamic Perspective Journal Accounting Education: An International Journal Accounting Educators' Journal Accounting Forum Accounting Historians Journal Accounting History Accounting Horizons Accounting in Europe Accounting Perspectives Accounting Research Journal Accounting, Business and Financial History Accounting, Organizations and Society ACM Transactions on Asian Language Information Processing...

Words: 22923 - Pages: 92

Premium Essay

Porter

...International Business Review 7 (1998) 135–150 A generalized double diamond approach to the global competitiveness of Korea and Singapore H. Chang Moona,*, Alan M. Rugmanb, Alain Verbekec a Graduate Institute for International & Area Studies, Seoul National University, Seoul 151–742, South Korea b Templeton College, University of Oxford, Oxford OX1 5NY, UK c Solvay Business School, University of Brussels (V.U.B.), Brussels, Belgium Abstract Globalization is very important for small economies such as Korea and Singapore. The single diamond model (Porter, 1990, The competitive advantage of nations) suggests some important determinants for a nation’s global competitiveness. However, this model is incomplete, mainly because it does not incorporate multinational activities. A new approach, the generalized double diamond model (Moon et al., 1995, in Research in global strategic management: Volume 5: Beyond the diamond) offers some important extensions to Porter’s original model. To test the validity of these two models this paper evaluates relevant data for both domestic and international variables in the case of Korea and Singapore. The results generally support the generalized double diamond model © 1998 Elsevier Science Ltd. All rights reserved. Keywords: International competitiveness; Double diamond; Porter’s single diamond; Korea; Singapore; Small open economies 1. Introduction In his famous book, The competitive advantage of nations, Porter (1990) studied eight...

Words: 5854 - Pages: 24

Free Essay

Bibliography

...Bureau of Labor Statistics. International Labor Comparison. Manufacturing in China. Retrieved September 12, 2011 from http://www.bls.gov/fls/china.htm. The first literature review for manufacturing in China will consist of three aspects: a) Data comparability b) comparison of hourly rates of compensation of US and China c) comparison of hourly manufacturing compensation cost of US and selected economies and regions. China manufacturing statistics don’t follow regular international standards and sometimes could be hard to understand the data. China does not systematically collect labor statistics like other countries and all of their information about manufacturing has been collected by a set of hypotheses and estimates by U.S. Bureau of Labor Statistics. Even though China data collection has many gaps, the International Community accepts the accumulated data as valid. Hourly compensation costs of manufacturing employees of China compared to U.S. manufacturing from 2002-2008. The data tables suggest that China manufacturing cost has risen on a constant steady pace. In 2008 China manufacturing cost was $0.57 and in 2008 it $1.36 (Manufacturing in China). Largely there is still a big gap compared to U.S. manufacturing and you can where China has gain many manufacturing jobs due to their relative low cost of manufacturing. Hourly compensation cost of manufacturing employees in selected economies and regions suggest that China has the lowest manufacturing cost out of U.S. , Japan...

Words: 2041 - Pages: 9

Premium Essay

Mr Anar Orujov

...Porter’s Diamond Framework a new theory that explains the international competitiveness of countries? A.J. Smit ABSTRACT The focus of this article is to clarify the meaning of international competitiveness at the country level within in the context of Porter’s (1990a) thesis that countries, like companies, compete in international markets for their fair share of the world markets. At a country level, there are two schools of thought on country competitiveness: the economic school, which rejects Porter’s notion of country competitiveness, and the management school, which supports the notion of competitiveness at a country level. This article reviews and contrasts the theories pertaining to these two schools of thought with specific reference to trade theories and the ‘theory’ of the competitive advantage of nations originally advanced by Porter (1990a, 1997a, 1998b, 1998c, 2000). Although Porter’s Diamond Framework has been extensively discussed in the management literature, its actual contribution to the body of knowledge in the economic and management literature has never been clarified. The purpose of this article is to explain why Porter’s Diamond Framework is not a new theory that explains the competitiveness of countries but rather a framework that enhances our understanding of the international competitiveness of firms. Key words: Porter, Diamond Framework, international competition, competitiveness of countries, international business, national competitive advantage, country sources...

Words: 11039 - Pages: 45

Premium Essay

Jhkh

...International Management Culture, Strategy, and Behavior Ninth Edition Fred Luthans University of Nebraska-Lincoln •Jonathan P. Doh Villanova University Mc Graw Hill Education Table of Contents Part One Environmental Foundation 1 2 The World of International Management: An Interconnected World Introduction Globalization and Internationalization Globalization, Antiglobalization, and Global Pressures Global and Regional Integration The Shifting Balance of Economic Power in the Global Economy 2 4 6 6 9 12 Global Economic Systems Market Economy Command Economy Mixed Economy 19 19 19 20 Economic Performance and Issues of Major Regions Established Economies Emerging Economies Developing Economies on the Verge 20 20 22 26 The World of International Management—Revisited 30 Summary of Key Points 32 Key Terms 32 Review and Discussion Questions 32 Answers to the In-Chapter Quiz 33 Internet Exercise: Global Competition in Fast Food 33 In the International Spotlight: India 2 Globalization and International Linkages 34 The Political, Legal, and Technological Environment 36 The World of International Management: Social Media and the Pace of Change 36 Political Environment Ideologies Political Systems 38 39 41 Legal and Regulatory Environment Basic Principles of International Law Examples of Legal and Regulatory Issues Privatization Regulation...

Words: 2319 - Pages: 10

Free Essay

What Counts for the Emergence of External Economies of Scale?

...What accounts for the emergence of external economies of scale? Discuss with reference to two relevant empirical cases Upon speaking about trade and development, it is reasonable to implement economies of scale into their agenda. Economies of scale theories suggest that “production is more efficient the larger the scale at which it takes place. Where there are economies of scale, doubling the inputs to an industry will more than double the industry’s production.” Furthermore, two types of economies of scale exist as theories- internal and external. However, this paper will examine external economies principles strictly and provide supported by evidence explanation as to why they emerge in the first place. What the basis of external economies of scale, as suggested by scholars states, is that they persist in the sphere of industries and result in reducing costs by concentrating production in area clusters, as well as “…cause the short-run average cost and long-run average cost curves to shift downward.” The principles of external economies of scale, however, imply not to the individual, but to the level of industry. In order to provide grounds for emergence of external economies, it is relevant to observe their nature at first. When speaking about external economies of scale, the tendency is to think about lowering costs of production, however this mostly implies to already established big markets, because for a small market it would be tough to compete in this sphere of development...

Words: 1224 - Pages: 5

Free Essay

Compensation Equity in China

...hoc definitions of external equity, internal equity and individual equity. Consequently, employee attitudes toward work and social status are affected. If the government would provide people with access to better education, legal measures that guarantee fair competition, and training opportunities to people who have need, the Chinese people would have greater reason to believe that improved compensation equity will be realized in the future. INTRODUCTION Two years after the death of late chairman Mao Zedong, Deng Xiaoping launched century. During the past twenty-five years, the country has witnessed tremendous gains in economy and social wealth in general. Although, on the average, people are leading a much better life, the gap between rich and the poor is becoming larger. As a large developing country in a transition period from a planned economy to a market economy, China at present has to adopt a de facto policy of “letting a few people get rich first” to stimulate enthusiasm and initiative for the rest of the population. Thus, the usual egalitarianism -- what Chinese term the “Large Bowl” -- has been smashed. People working at similar jobs receive different compensation. Various ad hoc definitions of external equity, internal equity and individual equity influence compensation and, consequently, employee attitudes toward work and social status. If the government would provide people with access to better education, legal measures that guarantee fair competition, and training...

Words: 3190 - Pages: 13

Premium Essay

Kenneth Rogoff

...PROFESSIONAL POSITIONS Professor of Economics, Harvard University, September 1999 – present; Thomas D. Cabot Professor of Public Policy, January 2004 – present. Chief Economist and Director of Research, International Monetary Fund, 2001–2003. Director, Harvard Center for International Development, 2003–2004. Professor of Economics and International Affairs, Princeton University, 1992–94; Charles and Marie Robertson Professor of International Affairs, 1995–1999. Professor of Economics, University of California at Berkeley, 1989–1991. Associate Professor of Economics, University of Wisconsin-Madison, 1985–1988. Economist, International Finance Division, Board of Governors of the Federal Reserve System, 1980–1983; Section Chief, Trade and Financial Studies Section, 1984. Economist, Research Department, International Monetary Fund, Oct. 1982 – Sept. 1983. VISITING POSITIONS BP-LSE Visiting Centennial Professor, London School of Economics, 1998–99 academic year. Morgenstern Visiting Professor of Economics, New York University, spring semester 1995. Visiting Scholar, Bank of Japan, Institute for Monetary and Economic Studies, summer 1991. Visiting Scholar, Research Department, World Bank, summer 1989. Visiting Scholar, Board of Governors of the Federal Reserve System, International Finance Division, 1988, 1994....

Words: 3919 - Pages: 16

Premium Essay

China and Wto

...The University of Nottingham, Ningbo, China Division of International Business China and the World Trade Organization P13608 Module Outline Module Convenor: Dr Chieh Huang AB Room 379 chieh.huang@nottingham.edu.cn Office hours: Monday 10:30-12:30 10 credits TB329 Tuesday 2-4 PM 10 weekly two-hour lecture/seminars The course is taught by way of lecture/seminars which are two hours in length. The form of the lecture/seminars will be flexible, depending on the topic under consideration. Students are expected to participate fully in discussions in lecture/seminars and to have read all the set Essential Reading before class. Credits: Lecture Venue and Times Method of Delivery & Frequency on Class: Method and Criteria of Assessment: 100% Coursework (5000 words) Essay Submission Deadline is 4pm, Wednesday 27 November 2013 Topics: Please choose one area listed below and discuss its recent development in the context of China. You will need to narrow down your focus and set your own essay topic. 1. 2. 3. 4. 5. Non-market Economies in the WTO Energy Industry and the WTO Environment and the WTO Commentary on one WTO case involving China Self-selected topic upon approval (You are most welcome to decide a topic yourself. Once you decide to do so, however, you need to submit your topic and an one-paragraph abstract before 4pm 31 October. ) Module Aims: To give the students a broad knowledge of the multilateral trading system and China’s interaction with that system through...

Words: 3456 - Pages: 14

Premium Essay

Golbalisation

...BUS00747 Contemporary Trends in the Business Environment ‘Globalisation has wrought fundamental changes in the global economy and it is evident that the effects of globalisation are more positive than negative’ Assignment 1 Tutor: Robert Waldersee Author: Catherine Whitaker Student No: 211664327 Address: 7/59 Howard St Randwick 2031 Introduction What is Globalisation? Dutch academic Ruud Lubbers, on his website http://globalize.kub.nl/ defines globalisation as: … a process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross border economic, political and socio cultural relations. Ruud’s definition draws attention to the following main points: • globalisation involves processes that transcend geographic and national boundaries, • these processes are of an economic nature, • there are political implications and considerations, and • socio cultural factors are also impacted. The issue of Globalisation has become a contentious one in recent years. Note the violent demonstrations in Seattle in 1999 and subsequent demonstrations by anti-globalisation groups such as S11. However there are many advocates of globalisation who support the ideals of free trade and free moving economies whose fate is left to market forces. The purpose of this paper is to examine some of the main issues associated with Globalisation...

Words: 2371 - Pages: 10

Premium Essay

International Financial Organisations

...Course Overview This course seeks to examine the major international financial organizations which have emerged and survived in the international system in the post World War II era. Emphasis will be placed on the Bretton Woods institutions, namely the International Monetary Fund (IMF) and the World Bank (WB). Course Objectives • To show the relationship between the theoretical and practical dimensions of International Financial Organizations in relation to mainstream IR theories and in the subfield of International Relations known as International Political Economy • To introduce students to the major international financial institutions which have impacted on world politics in the post World War II era • To critically assess the roles, contributions, operations and prescriptions of these organizations particularly in the context of developing countries • To locate these organizations within the theoretical realm of the development problematique of the Third World You can realize these objectives by • Regular and punctual lecture and tutorial attendance. • Tutorials are mandatory, roll will be taken and there will be no pandering to absenteeism. Students must attend 75% tutorials otherwise students will be debarred from writing exams. • Frequently assimilating and reviewing lecture notes • Reading all recommended articles and relevant chapters from the designated textbooks before attending class since lectures frequently make references to and offer perspectives...

Words: 2386 - Pages: 10

Free Essay

International Monetary Fund Intervention and Relevance

...Cocktail mixes of tax increases, spending cuts and privatisation of public sector assets have proven difficult for local governments to serve. The funds inability to keep pace with an expanding global economy suggest redefining itself with a more modest role that is fitting for such an international monetary system may be the best approach, As opposed to expanding the funds activities. Table of contents 1. Introduction page 1 2. Objectives page 1 3. Rationale page 1 4. Literature review page 2 4.1 The Mandate page 2 4.2 Consequences of IMF Programme Implementation page 2 4.3 IMF Relevance page 6 5. Conclusion page 9 6. Reference 1. Introduction This literature review will examine the effectiveness of intervention by the International Monetary Fund (IMF). It will challenge the results of IMF programs and attempt to derive whether the Fund still serves a meaningful role in today's global economy. The International Monetary Fund was formed during a United Nations conference at Bretton Woods, New Hampshire in July 1944. At its...

Words: 4129 - Pages: 17