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Research Activities

Research Projects

FY 2007/2008 Research Topic: 4-18
The IMF and Developing Countries


It is very important for any developing country to maintain a stable macroeconomic environment because this is a necessary condition for sustaining economic development. When the external macroeconomic stability (i.e. stability in the balance of payment and exchange rate) becomes unsustainable, the international community provides help, normally via the International Monetary Fund.

In other word, the IMF is expected to be the keystone of the international safety net for macroeconomic stability. However, doubts have sometimes been expressed regarding whether the IMF measures up to this expectation. In particular, the IMF was criticized for its operations during the Asian currency crisis in 1997-98.

This research project evaluates the functions and roles of the IMF, and provides basic information for speculating about reform of the IMF or an ideal setup of international financial cooperation. We will analyze not only the IMF’s policy in view of economics, but also problems involving its governance, institutional structure, and the political economy surrounding it. In addition, we will consider an ideal relationship between the IMF and regional financial cooperation.



Members of the Research Project

KODAMA Masahiro
KOHAMA Hirohisa (Professor, Graduate School of International Relations, University of Shizuoka)
KUMAKURA Masanaga (Lecturer, Graduate School of Economics, Osaka City University)