Chapter

The IMF Structural Reforms: Inconsistencies in the Program

Yung Chul Park

in Economic Liberalization and Integration in East Asia

Published in print December 2005 | ISBN: 9780199276776
Published online February 2006 | e-ISBN: 9780191603051 | DOI: http://dx.doi.org/10.1093/0199276773.003.0010
 The IMF Structural Reforms: Inconsistencies in the Program

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The IMF programs failed to take into account possible conflicts between different reform measures and objectives such as the conflicts between stabilization policies and structural reforms, and between operational restructuring and institutional reform. Corporate restructuring was not treated as an integral part of financial restructuring, resulting in moral hazard problems.

Keywords: operational restructuring; stabilization policy; structural reform; moral hazard; corporate governance; London rules

Chapter.  2367 words. 

Subjects: Business and Management

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