Share This
December 2003 Cover Art

We welcome your
on articles

We Need
Your Help
Do you subscribe to the hard copy of F&D?
Please fill in this
pdf survey

Do you want to subscribe to F&D?
Use this pdf form

Search Finance & Development

Advanced Search
Finances & D�veloppement
Finanzas & Desarrollo

About F&D


Back Issues

Copyright Information

Use the free Adobe Acrobat Reader to view pdf files

Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile

F&D logo
A quarterly magazine of the IMF
  December 2003
Volume 40, Number 4
The Millennium Development Goals
Falling Behind?
Introduction to a set of five articles examining the Millennium Development Goals (MDGs) and what it will take to achieve these globally adopted targets that center on halving the 1990 incidence of extreme poverty by the year 2015.
(183 kb, pdf file)

Getting There
Mark Baird and Sudhir Shetty
A World Bank study details how a combination of more aid and better policies could help developing countries achieve many of the MDGs and make faster progress toward the others. Box details the eight MDGs.
(328 kb, pdf file)

Avoiding Another Debt Trap
Christina Daseking and Julie Kozack
For many low-income countries, developing a sustainable borrowing strategy is a crucial element in any plan for meeting the MDGs. Box details how the approach would work for Bolivia.
(227 kb, pdf file)

Absorbing Shocks
Nancy Happe, Mumtaz Hussain, and Laure Redifer
How to help cushion external shocks for low-income countries to prevent them being blown off track while attempting to meet the MDGs.
(243 kb, pdf file)
Using Fiscal Policy to Spur Growth
Emanuele Baldacci, Benedict Clements, and Sanjeev Gupta
When reducing fiscal deficits makes sense for low-income countries, plus some policy implications of doing so.
(296 kb, pdf file)

Overcoming the Obstacles
Hilde Johnson, Henry Northover, Luisa Diogo, and M. Saifur Rahman
Several participants in the MDG debate have different perspectives on what it will take to lift the world's neediest out of poverty.
(227 kb, pdf file)

Also in This Issue

Bridging the "Great Divide"
Gianni De Nicoló, Sami Geadah, and Dmitriy Rozhkov
Poorly developed financial systems in the CIS-7 countries may jeopardize their sustained growth.
(195 kb, pdf file)

Beyond the Great Wall

Eswar Prasad and Thomas Rumbaugh
Why some see China's integration into the global trading system as a competitive threat but others, including global consumers, see it as a boon. Despite China's increasing vilification as a spoiler in the global trade game, IMF research suggests that China may be getting an unfair press.
(234 kb, pdf file)


From the Editor
(51 kb, pdf file)

Letters to the Editor
Deeper into the Institutions Debate; No Global Middle Class; Why Isn't Africa Growing?; IMF Should Blow the Whistle.
(248 kb, pdf file)

In Brief

News from international agencies
François Bourguignon takes over as new Chief Economist of the World Bank; U.N. Secretary General Kofi Annan appoints a blue-ribbon panel to review the role of the United Nations; the Financial Sector Reform and Strengthening Initiative (FIRST) helps develop financial sectors; donors pledge $33 billion for Iraq; the U.N. launches a drive to boost world rice output; a new handbook focuses on the economics of the environment.
(215 kb, pdf file)

People in Economics

Hearing the Dogs Bark
Jeremy Clift
interviews Peruvian economist Hernando de Soto, who argues that the key to both defeating international terrorism and securing capitalism is enabling tens of millions of poor entrepreneurs across the developing world to become part of the system rather than excluded from it by bureaucracy and red tape.
(179 kb, pdf file)

Back to Basics

The Global War on Poverty: Who's Winning?
Prakash Loungani
Few would deny that progress is being made in the global war on poverty. But there are conflicting reports on how to measure success and who is winning.
(162 kb, pdf file)

Picture This

The World's Forests—Balancing Economic Demands and Conservation
Background and statistics on why it is important to husband the world's forests and how they could be managed in the future.
(251 kb, pdf file)

Book Reviews

Selling China: Foreign Direct Investment During the Reform Era, Yasheng Huang

The Next Crisis? Direct and Equity Investment in Developing Countries, David Woodward

The Real Environmental Crisis: Why Poverty, Not Affluence, Is the Environment's Number One Enemy, Jack Hollander

Plan B: Rescuing a Planet Under Stress and a Civilization in Trouble, Lester Brown

Portrait of the Poor: An Assets-Based Approach, Orazio Attanasio and Miguel Szekely (editors)

Governing the World's Money, David M. Andrews, C. Randall Henning, and Louis W. Pauly (editors)
(182 kb, pdf file)

Straight Talk

Disinflation: An Unsung Benefit of Globalization?
Kenneth S. Rogoff
The past decade of global disinflation may well be an unsung benefit of globalization—something that should give the antiglobalizers pause, particularly since lower inflation tends to help the poor the most.
(142 kb, pdf file)

Country Focus

The Commonwealth of Independent States
A decade after starting their transition to market economies, the CIS countries have achieved impressive economic growth but need to implement further structural reforms to strengthen the investment climate; a statistical analysis illustrated with six graphs.
(63 kb, pdf file)

Index to the articles for 2003.
(110 kb, pdf file)