As former Director of Research and a founding member of the Executive Board of the International Monetary Fund, Jacques J. Polak has advised theoreticians and policymakers worldwide. This collection brings together his most current writings, and is published under the auspices of the IMF. The hallmark of Dr. Polak's recent research has been his ability to draw on decades of personal experience and reflection to comprehend and describe the context for current policy debates. In the past decade, he has contributed much to the debates on international financial policy and the role of the IMF, and this volume brings together most of these recent papers to make them accessible to a broader audience.
Introduction, James M. Boughton; I. The Role of the International Monetary Fund; 1. The Essence of Bretton Woods: Monetary Cooperation; 2. The International Monetary Issues of the Bretton Woods Era; 3. Fifty Years of Exchange Rate Research and Policy at the International Monetary Fund; 4. The IMF and Its EMU Members; 5. The World Bank and the International Monetary Fund: A Changing Relationship; 6. The Articles of Agreement of the IMF and the Liberalization of Capital Movements; II. New Thoughts on the SDR; 7. Should the SDR Become the Sole Financing Technique for the IMF? 8. Streamlining the Financial Structure of the International Monetary Fund; 9. International Liquidity and the Role of the SDR in the International Monetary System; III. International Economic Policy: Theory and Practice; 10. The IMF Monetary Model at 40; 11. The Two Monetary Approaches to the Balance of Payments: Keynesian and Johnsonian; 12. Is APEC a Natural Regional Trading Bloc? A Critique of the 'Gravity Model' of International Trade; 13. Financial Relations Between the Netherlands and Belgium: 1943 to 1993; 14. Repairing the International Monetary System: An Unfinished Task?