Integration and Growth in a Globalized World Economy

September 23, 1999

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Integration and Growth in a Globalized World Economy, (USA: International Monetary Fund, 1999) accessed November 21, 2024

Summary

This paper presents four commentaries by an IMF Deputy Managing Director on integration and growth in a globalized world economy. Globalized and integrated financial markets are the norm, complete with their tremendous opportunities—the chance to quicken the pace of investment, job creation, and growth—and, some inevitable risks. The paper also highlights that sound macroeconomic policies must be a top priority, and that these policies must be supported by transparency and accountability. Policies at the country and global level must be mutually reinforcing; industrial countries meeting the more outward-oriented policies of developing countries with greater openness around the world. It is recommended that the IMF agenda must include adopting bold structural reforms and building a social consensus for reform through economic security, good governance, and a better dialogue with civil society in Africa. In the Berlin address, it is suggested that development rests on three pillars: good economic policy, a favorable legal and political environment, and attention to equitable social development.

Subject: Civil service, Economic integration, Financial crises, International trade, Labor, Regional integration, Tariffs, Taxes, Trade liberalization

Keywords: Africa, CFA zone country, Civil service, Country, Economic policy coordination, Economy, Global, Government, Government policy, Integration effort, MTU, Policy, Reform effort, Regional integration, Sub-Saharan Africa, Tariffs, Trade liberalization

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

IMF Speeches
Stock No:

MDSPEA0021999
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