POSC311 Lecture 23: April 20, 2016 - Bretton Woods Institutions
9 May 2016
School
Department
Course
Professor
Document Summary
1950s to 1960s, imf and world bank shifted to developing countries. 1980s, imf shifted to conditional lending: imf would adjust policies in countries to loan to so the cycle of loaning and not being able to pay back would never end, forced reconstructing of economies, structural adjustment programs. As policies change they get more loans. Most developing countries have received imf loans. Imf programs with usual reduced growth and increase in economic inequality. Joseph stiglitz criticizes that need to be more keynesian. State does not have to agree but still. When imf loans more loans to not have to default on previous loans. People are more likely to do risky behavior since they have insurance: defense of bretton woods. Changes would have had to happen anyway. Some people are more accepting (germany, sweden, netherlands, etc. ) Fiercely debated: migration: it is a crisis a lot in europe actually.
