Recalibrating Policy Orthodoxy: The IMF since the Great Recession

Cornel Ban, Kevin P. Gallagher

Research output: Contribution to journalJournal articleResearchpeer-review


This special issue reviews patterns of policy stability and change at the International Monetary Fund (IMF) since the Great Recession and attempts to explain their causes. The contributors show that the crisis ignited a reassessment regarding how the IMF would position itself as a pivotal player in global economic governance. Some new ideas and evidence definitely found their way into IMF decision making, but this process was often tempered by the nature of the institution and the powerful interests that control its governing structure. Where change did occur, its causal generators could be found in some combination between IMF staff politics, a string of innovations coming from academic and IMF economists, and the emerging economic powers' creative leveraging of institutional fora both within and inside the Fund.
Original languageEnglish
JournalGovernance: An international journal of Policy, Administration, and Institutions
Issue number2
Pages (from-to)131-146
Number of pages16
Publication statusPublished - 2014
Externally publishedYes

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