The Economic Impact of International Monetary Fund Programmes Instit
This book investigates the impact of International Monetary Fund (IMF) programmes on macroeconomic instability and economic growth in recipient countries. Employing the New Institutional Economics approach as an analytical framework, it identifies the det
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Omer Javed
The Economic Impact of International Monetary Fund Programmes Institutional Quality, Macroeconomic Stabilization and Economic Growth
Contributions to Economics
More information about this series at http://www.springer.com/series/1262
Omer Javed
The Economic Impact of International Monetary Fund Programmes Institutional Quality, Macroeconomic Stabilization and Economic Growth
Omer Javed Lahore, Pakistan
ISSN 1431-1933 ISSN 2197-7178 (electronic) Contributions to Economics ISBN 978-3-319-29177-2 ISBN 978-3-319-29178-9 (eBook) DOI 10.1007/978-3-319-29178-9 Library of Congress Control Number: 2016934927 Springer Cham Heidelberg New York Dordrecht London © Springer International Publishing Switzerland 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer International Publishing AG Switzerland is part of Springer Science+Business Media (www.springer.com)
To the pursuit of knowledge for bringing welfare
ThiS is a FM Blank Page
Foreword
Institutions are important to understand the economic growth and to explain their quality. The most relevant empirical studies of Acemoglu, Robinson, and Rodrik demonstrate this evidence and demonstrate an open field of research in this direction. This book deals with a range of topics that are important for both academics and policymakers alike and emphasizes that usefulness of economics is enhanced when orthodox thinking is augmented with the underlying heterodox assumptions of Institutional Economics, whereby (among revisiting other Neo-Classical assumptions) the existence of transaction costs is not only understood to be non-zero, feeding in turn into production costs, but where market, hybrid, and firm structures are all seen to be competing frameworks for reaching at minimized transaction costs. The book, making an applied research under this premise, has made a significant contribution in putting up a strong case for the IMF (International Monetary Fund) to mainstream institution
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