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  • March 2011 (Revised December 2017)
  • Background Note
  • HBS Case Collection

The IMF: The Washington Consensus, the Critics, and the New Challenges as China Rises

By: Rafael M. Di Tella, Natalie Kindred and Monica Baraldi
  • Format:Print
  • | Language:English
  • | Pages:26
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Abstract

How the International Monetary Fund (IMF) defines and carries out its mandate has evolved considerably since 1944, when it was founded to serve a vital but narrow function in maintaining the global foreign exchange system and thus enabling international trade. This note gives an overview of the IMF's evolution by describing key phases in its history, including the Bretton Woods system and its collapse, the international debt crisis of the 1980s, the Washington Consensus era, and reform efforts in the 2000s.

Keywords

History; International Finance; Globalized Economies and Regions; Trade; Financial Institutions; Macroeconomics; Financial Services Industry

Citation

Di Tella, Rafael M., Natalie Kindred, and Monica Baraldi. "The IMF: The Washington Consensus, the Critics, and the New Challenges as China Rises." Harvard Business School Background Note 711-040, March 2011. (Revised December 2017.)
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About The Author

Rafael M. Di Tella

Business, Government and the International Economy
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Related Work

    • March 2011 (Revised December 2017)
    • Faculty Research

    The IMF: The Washington Consensus, the Critics, and the New Challenges as China Rises

    By: Rafael M. Di Tella, Natalie Kindred and Monica Baraldi
Related Work
  • The IMF: The Washington Consensus, the Critics, and the New Challenges as China Rises By: Rafael M. Di Tella, Natalie Kindred and Monica Baraldi
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