The role of the international financial institutions in the aftermath of the global financial crisis
Against the background of new developments on international and national financial markets particularly in Emerging Markets as well as the global shocks such as the global financial crisis or climate change this project deals with the future role of the International Financial Institutions (IFIs). The main objective of the project is to assess the work of the IFIs and to provide recommendations for the future design of their instruments and their division of labour regarding long-term development financing, crisis prevention and crisis resolution as well as the financing of global public goods.
Project Lead:
Kathrin Berensmann
Project description
Against the background of new developments on international and national financial markets particularly in Emerging Markets as well as the global shocks such as the global financial crisis or climate change this project assesses the future role of the International Financial Institutions (IFIs) and recommendations for the future design of their instruments and their division of labour are made. In general, IFIs take on three tasks:
(1) Long-term term development financing: The IFIs should support national development policies with a strategic long-term vision (agricultural policy, industrial policy, etc.).
(2) Crisis prevention and resolution: For mitigating shocks IFIs should take on a countercyclical role. These roles are complementary and require an adequate division of labour and/or coordination between the IFIs.
(3) Financing of global public goods: The IFIs should provide financial resources in case of market failure; i.e. when public gods are not financed by the market (infrastructure, climate change, etc.).
Publications
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Crisis credit
Berensmann, Kathrin / Ulrich Volz / Peter Wolff (2013)
in: Development and Cooperation 54 (2), 72-75 -
Kredit in der Krise
Berensmann, Kathrin / Ulrich Volz / Peter Wolf (2013)
in: Entwicklung und Zusammenarbeit 54 (2), 72-75 -
Strengthening cooperation between regional financing arrangements and the International Monetary Fund
Volz, Ulrich (2013)
in: Carlos Andrés Giraldo (ed.), Papers & Proceedings, VII Conferencia Internacional de Estudios Económicos: regionalismo financiero y estabilidad macroeconómica, Fondo Latinoamericano de Reservas, Bogotá, 8-17 -
Europäische Bank für Wiederaufbau und Entwicklung
Berensmann, Kathrin (2012)
in: Katja Freistein / Julia Leininger, Handbuch internationale Organisationen: theoretische Grundlagen und Akteure, München: Oldenbourg, 80-84 -
A critical review of the IMF’s tools for crisis prevention
Marino, Roberto / Ulrich Volz (2012)
Discussion Paper 4/2012 -
The need and scope for strengthening co-operation between regional financing arrangements and the IMF
Volz, Ulrich (2012)
Discussion Paper 15/2012 -
Asiatische Entwicklungsbank (ADB)
Wolff, Peter (2012)
in: Katja Freistein / Julia Leininger (Hrsg.), Handbuch internationale Organisationen: theoretische Grundlagen und Akteure, München: Oldenbourg, 31 - 37 -
Afrikanische Entwicklungsbank
Berensmann, Kathrin (2012)
in: Katja Freistein / Julia Leininger, Handbuch internationale Organisationen: theoretische Grundlagen und Akteure, München: Oldenbourg, 69-79 -
Regional financing arrangements and the stability of the international monetary system
McKay, Julie / Ulrich Volz / Regine Wölfinger (2011)
published on Journal of Globalization and Development 2 (1), Article 5 -
Regional integration, economic development and global governance
Volz, Ulrich (ed.) (2011)
Cheltenham: Elgar -
Regional and global liquidity arrangements
Volz, Ulrich / Aldo Caliari (eds.) (2010)
Bonn: German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE) -
Das neue Gesicht des IWF
Berensmann, Kathrin / Peter Wolff (2009)
in: E+Z Entwicklung und Zusammenarbeit 50(11), 439 -
The new face of the IMF
Berensmann, Kathrin / Peter Wolff (2009)
in: D+C Development and Cooperation 50(11), 439 -
Financing for development series: Development finance by regional development banks - combining regional ownership with multilateral governance
Liebig, Klaus / Peter Wolff (2008)
Briefing Paper 10/2008 -
Internationaler Währungsfond
Volz, Ulrich (2012)
in: Katja Freistein / Julia Leininger, Handbuch internationale Organisationen: theoretische Grundlagen und Akteure, München: Oldenbourg, 145-155 -
How can the IMF contribute to the correction of social inequalities and a sustainable international monetary and financial system?
Volz, Ulrich (2012)
in: Werner Puschra / Sara Burke (eds.), Fixing finance is not enough: the social consequences of monetary and financial policies, New York: Friedrich Ebert Stiftung, 57-60 -
A new leadership team for the fund
Volz, Ulrich (2011)
Bonn: German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE) (The current column of 20 May 2011) -
Regional financing arrangements and the IMF
McKay, Julie / Ulrich Volz / Regine Wölfinger (2011)
in: Ulrich Volz (ed.), Regional integration, economic development and global governance, Cheltenham: Elgar, 234-53 -
Afrikanische Entwicklungstrends: Lektionen aus der globalen Finanzkrise
Berensmann, Kathrin (2011)
Analysen und Stellungnahmen 12/2011 -
Die Zukunft der regionalen Entwicklungsbanken im System der internationalen Entwicklungsfinanzierung
Liebig, Klaus / Peter Wolff (2009)
Bonn: German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE)