Abstract
Before a government, organisation or institution can be deemed democratic they must satisfy a specific set of criteria. From procedural to substantive perspectives, these can differ in accord with the theory of democracy being used. This paper explores some key indicators of democracy (elections, representativeness and the expression of the will of the people) and the promotion of equality and fairness, as they pertain to the structure, practices and core policies of the World Trade Organisation (WTO) and the International Monetary Fund (IMF), in order to ascertain which organisation is more democratic.
Outline
Elections
Representation
The Will of the People
Equality and Fairness for All

From the Paper
"An organisation or institution can only be considered democratic and, in fact, legitimate if they are elected via free and open elections that are generally contested by a minimum of two candidates and the winner determined by (usually) majority rule (Janda, Berry and Goldman 1990: 53). When these principles are applied to the manner in which the WTO and IMF executives and member countries are chosen it is evident that this was not done democratically. Along with the World Bank, executives at the WTO and IMF are not chosen by democratic election they are simply appointed by member countries (Stiglitz 2004: 227), they then act as a representative on behalf of that country. Executives at both institutions in this sense could argue that they promote representative democracy given that they represent their country."

Tags:conditionality, consensus, elections, equality, liberalisation, liberalistion, market, people, representativeness, trade, trips, washington

Abstract
This paper discusses the shift in purpose of both the World Bank and the International Monetary Fund. Providing more of an analysis then a history, the paper examines their relationship, the changes that have occurred in recent years and their roles in the global economic system. It concludes with a proposed diagnosis of the future of the IMF.

Outline:
Background
Present Situation
The Future
Conclusion

From the Paper
"As the World Bank has moved towards development issues in search of greater relevance, its relationship with the IMF, and the roles that the two play in international policy, have shifted. The IMF has always stuck to its original mandate. It is an institution focused on hard numbers, economics and trade. The World Bank, by contrast, has moved further into areas of social development, equality, environmental considerations and other soft areas. On the surface, these two objectives are complementary. The IMF appears to operate on the principal the social justice flows from economic development; the World Bank appears to operate on the belief that economic development flows from social justice. Yet, there is significant overlap between the two institutions. The Bank is forced to contribute to the IMF's financial rescue missions; the IMF wants to involve itself in monetary issues that the World Bank is better equipped to deal with."

Tags:IMF, economics, global politics, world bank, bretton woods conference

Abstract
The purpose of this paper will be to compare and contrast the pros and cons of IMF policies from different perspectives.

Tags:pros, cons, imf

Abstract
This paper examines and analyzes the role of the International Monetary Fund in the international political economy. The author discusses specific IMF policies, and why some of the old policies don't work anymore.

Tags:the, role, imf

Abstract
In this paper the author examines the US Federal Budget during the Clinton administration and how he reduced the deficit to a surplus amount in 1998. He moves on to discuss the changing American economy and provides examples of why he considers that there are times in a nation's life when deficits are necessary and even beneficial. The author suggests that use of debt spending during wars and times of recession help to boost the economy but can be detrimental to the Stock Market. He further examines levels of taxation and compares the effect that different administrations have had on the federal deficit.

From the paper:

"Determining the correct, or economically benign, level of deficit and debt is a subject for endless debate. Economies do not operate by a simple law of cause and effect, of plus and minus, of deficit and surplus. They are complex interweaving of many economic and psychological factors, both domestic and international. Although a huge deficit is never to be praised, there are times in a nation's life when deficits are necessary and even beneficial."

Tags:Clinton, Regan, Bush, Terrorism, War, Federal, Budget, Deficit, Tax, Stock, Market, America

Abstract
This paper considers the history and implications of the federal deficit. The paper addresses the government's shift from running a budget surplus to running a budget deficit. The paper considers the economic consequences of running a budget deficit, and strategies for managing it effectively.

From the Paper
"Much attention has been given to the federal deficit in the media in recent years as the government has shifted from running a budget surplus to running a budget deficit. However, the deficit is misunderstood by many and a deficit-in and of itself-is not necessarily a negative economic factor. Indeed, there are some economists who maintain that some deficit is necessary for a strong economy. This research considers the federal deficit; its history, consequences of having a federal deficit, and strategies for managing the deficit."

Tags:budget deficit, national debt, federal deficit, budget

Abstract
This paper discusses macroeconomic issues, such as the types of convergence that exists. It focuses its discussion on the Sub-Saharan Africa region and describes its structural difficulties in implementing economic reforms. Finally, the paper examines the issues surrounding the East Asian financial crisis (or IMF crisis) that occurred in 1997.

Table of Contents:
Abstract
Convergence
Sub-Saharan Africa
East Asian Financial Crisis

From the Paper
"South Korea, by this example, had average gross domestic product (GDP) rates of over 8% and this, combined with huge inflows of investment capital had given South Korea the veneer of an unassailable economic success (Chun & Kirkby, 2002, p.82). Yet, underlying the financial crisis among the affected countries were vast current account deficits that were simply not sustainable as well as a system of pegged exchange rates that encourage speculative behavior both internally and externally. In spite of the attention being paid to foreign speculators as well as to heavy borrowing by the countries themselves in order to support the system of pegged currencies, the International Monetary Fund (IMF) received much of the blame as well as ire due to its handling of the crisis."

Tags:deficit IMF, economic development

Abstract
The paper looks at the debt crisis in Argentina that helped plunge the nation into a financial crisis in 2001. The paper argues that much of the blame should be directed towards the Argentine governments' policies of the 1980s and early years of this decade. The paper also contends that the IMF (International Monetary Fund) should be criticized but stresses that both parties share the blame.

From the Paper
"The debt crisis which wracked many developing countries in the early 1980s (and thereafter) came about because of overly-extravagant domestic policies and exorbitant government spending - at least according to a United States Department of State dispatch from 1994. In any case, the developing nations - which obviously did not have huge tax bases or swollen coffers like their confreres in the developed west - were confronted with huge budget deficits and with overvalued exchange rates. According to the US State Department, the developing world (or at least many of its constituent nations) relied on short-term, variable rate loans to get them through the fiscal crises of the period - but those policies made them susceptible to the depredations brought about rising interest rates."

Tags:government, developing, country, market, inflation, equilibrium, credit, deficit, budget, trade, liberalization

Abstract
This paper discusses reports by the Federal Reserve, the IMF, and the Congressional Budget Office (CBO) regarding the U.S. economy in the year 2004. The paper discusses factors pertinent to the economy including the employment rate, the interest rate, inflation, the U.S. budget and trade deficit and presents opinions that the author has about the state of the U.S. economy at that time.

From the Paper
"In February 2004, the main problem of the US economy, as identified by Greenspan, was the fact that the company's increase in income and net profits were related to a better use of human resources rather than on an increase in employment. In other words, despite the fact that the economy was on the rise, it failed to produce new jobs. This was a direct consequence, in Greenspan's opinion, of the risks associated with increased employments, more notably "corporate accounting and governance scandals" , a "decline in stock prices" and the overall "geopolitical tensions" . "

Tags:unemployment, situation, monetary, policies, household, income, spending, consumer

Abstract
The following paper discusses the balance of payments in the International Monetary System and examines how countries raise needed capital for development and infrastructure projects. In addition the future and factors of global investment, both public and private are discussed.

From the Paper
\"The IMF was given the responsibility to promote the growth of world trade by setting rules for the maintenance of fixed exchange rates and by making loans to countries that were experiencing balance of payments difficulties. (Balance of payments is a bookkeeping system for recording all payments that have a direct bearing on the movement of funds between a nation, both private and government sectors, and foreign countries.) As part of its role of monitoring the compliance of member countries with the rules, the IMF also took on the job of collecting and standardizing international economic data, managing the world monetary system and facilitate international payments. Under the system, exchange rates were supposed to change only when a country was experiencing large persistent deficits or surpluses in its balance of payments.\"

Tags:balance, IMF, loan, prevent, depreciation, currency, lower, exchange, rate, policy, deficit, countries, pressure, devaluing