事例研究(International Financial Institutions）

内容・進め方・主要文献等

The case study will focus on the changing roles of the International Monetary Fund (IMF), the World Bank, and the Asian Development Bank, since the Asian currency crisis of 1997-98. After the Asian currency crisis, the IMF was expected to develop crisis prevention and management. Once many emerging market economies have adopted managed float, and prudent macroeconomic policies, it has become less likely for them to suffer a crisis. Is it the success of IMF that the crisis is now less likely to occur?
Less crisis lending meant less revenue for the IMF?this is forcing the IMF to restructure (downsize). Could the IMF refocus on its core businesses?
Since 2003, the global imbalances problem?large current account deficits of the US, large current account surpluses of China, Asian countries, oil-producing nations?has become a major issues for advanced nations and IMF. The IMF conducted “multilateral surveillance.” But, could IMF determine which currency is over- or under-valued by how much?
The World Bank and the Asian Development Bank have been active in lending to middle-income emerging-market countries. However, poverty persists in many less-developed emerging markets. Should their business model be modified?
Groups will be formed according to students’ interest.
Prerequisites (strongly recommended): (Intermediate) Microeconomics and Macroeconomics, and (basic) econometrics

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成績評価の方法

Participation to discussion and a final report