Professor Graham Bird

Emeritus Professor

Qualifications: BA (Cambridge), MA (Cambridge), PhD (Surrey)

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Further information

Biography

Graham Bird joined the University of Surrey in 1975 and was promoted to full professor in 1987. He is currently a Professorial Research Fellow in the School of Economics. He is also a Visiting Professor at Claremont McKenna College in the United States and a Clinical Professor at Claremont Graduate University. He has given talks and presented papers at many universities throughout the world including Harvard, Princeton, Yale and Stanford. At Surrey he was Head of Department for twelve years between 1986 and 1998 and served on the Steering Committee of the Royal Economic Society’s Conference of Heads of University Departments of Economics (CHUDE) and on the Quality Assurance Agency’s Benchmarking Group that set standards for teaching Economics at universities in the UK. He has been a consultant to the Commonwealth Secretariat, World Bank, World Institute for Development Economics Research, European Central Bank, UNICEF and UNDP, and has been a ‘high level’ expert adviser to the Independent Evaluation Office of the IMF. He has also been a visiting scholar in the IMF’s research department, as well as the Institute for International Economic Studies in Stockholm, the Harvard Institute for International Development and the Overseas Development Institute in London. He is the author of approaching 250 publications including 22 books and monographs, and is on the editorial board of three journals. His research often crosses conventional disciplinary boundaries and his published papers have appeared in leading economics, development and international relations journals (see CV for a complete list of publications). Many of Professor Bird’s papers have been heavily cited and widely used by policy makers. For some years he has been ranked in the top 5 per cent of authors in economics world wide based on his research output and citations. He is currently working on two books and a number of papers dealing with the IMF, international macroeconomic policy, international finance and economic development.

Publications

Journal articles

  • Bird GR, Mandilaras A . (2014) 'Transitions in Exchange Rate Regimes in the Aftermath of the Global Economic Crisis'. Applied Economics Letters, 22 (7), pp. 567-571.

    Abstract

    Has the global economic crisis resulted in countries shifting their exchange rate regimes and, if so, in what way? Focusing on the relevant period of 2008-12, and using the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER) classification of exchange rate regimes and database, we calculate exchange rate regime transition probabilities and test their statistical significance. Even though there is some evidence of state de- pendence, in the sense that transitions are relatively infrequent, we do find that these are significant, especially in the direction of fixity. Our testing procedure employs the Wilson (1927) statistic, which is appropriate for draw- ing inference based on relatively rare events. By examining all transitions in detail, we also find further evidence that countries that shift often flip back to their previous regime.

  • Popper, H, Mandilaras A, Bird, G . (2013) 'Trilemma Stability and International Macroeconomic Archetypes'. European Economic Review, 64, pp. 181-193.

    Abstract

    This paper uses the simple geometry of the classic, open-economy trilemma to introduce a new gauge of the stability of international macroeconomic arrangements. The new stability gauge reflects the simultaneity of a country's choices of exchange rate fixity, financial openness, and monetary sovereignty. So, the new gauge is bounded and correspondingly non-Gaussian. We use the new stability gauge in nonlinear panel estimates to examine the post-Bretton Woods period, and we find that trilemma policy stability is linked to official holdings of foreign exchange reserves in low income countries. We also find that the combination of fixed exchange rates and financial market openness is the most stable arrangement within the trilemma; and middle-income countries have less stable trilemma arrangements than either low or high-income countries. The paper also characterizes international macroeconomic arrangements in terms of their semblance to definitive policy archetypes; and, it uses the trilemma constraint to provide a new gauge of monetary sovereignty.

  • Bird G, Mandilaras A. (2013) 'Fiscal imbalances and output crises in Europe: Will the fiscal compact help or hinder?'. Journal of Economic Policy Reform, 16 (1), pp. 1-16.

    Abstract

    The eurozone crisis has involved sharp output declines and has generated much discussion about the appropriate design of macroeconomic policy both in terms of dealing with the contemporary situation and minimising the risks of future crises. Much of the debate surrounding the crisis has focused on fiscal policy. All but two member states of the European Union have signed a draft treaty, the 'fiscal compact', that seeks to eliminate structural fiscal deficits. This paper examines the relationship between fiscal balances and output shortfalls amongst the eurozone countries allowing for other factors. In the light of the findings it critically assesses the fiscal compact. © 2013 Copyright Taylor and Francis Group, LLC.

  • Bird GR. (2013) 'The Collapse of ConsensusThe contemporary confusion over macroeconomic policy'. World Economics: the journal of current economic analysis and policy, 14 Article number 1 , pp. 141-152.

    Abstract

    Consensus in macroeconomics helps policymakers formulate a coherent and logically consistent group of policies. At different times in the post-war era there has been consensus around first Keynesian and then monetarist ideas. Economic crises have frequently brought one type of consensus to an end, allowing another to be formed. For much of the 1990s and 2000s there seemed to be consensus built on compromise about the way in which fiscal and monetary policy should be used. However, this collapsed with the global financial and economic crisis. For a brief interlude, a Keynesian consensus re-emerged, but this did not last. At present, there are sharp divisions among economists concerning the effects of macroeconomic policy, and this means that life has become much more confusing for policymakers. This article explores what has been going on, and considers the implications for the future.

  • Bird G. (2012) 'Dealing with Global Economic Imbalances: The Political Economy of Policy Coordination'. Global Economic Review, 41 (4), pp. 299-317.

    Abstract

    Global economic imbalances are not a new phenomenon. However, in the aftermath of the global financial and economic crisis in 2008/2009, they have become a matter of increased concern to the international community as reflected by the IMF and G20. They are seen as having contributed to causing the crisis. What can be done to reduce the imbalances? Attention has focused on the idea of internationally coordinating macroeconomic policy. This article assesses policy coordination from both a technical, but more particularly, a political economy angle. It concludes that the scope for formal and detailed policy coordination is strictly limited because of the underlying political constraints. The article examines alternative ways of dealing with global imbalances and offers a prognosis based on political economy considerations. © 2012 Copyright Institute of East and West Studies, Yonsei University, Seoul.

  • Bird GR. (2012) 'Managing Capital Surges'. World Economics: the journal of current economic analysis and policy, 13 Article number 1 , pp. 173-188.

    Abstract

    Following the global financial and economic crisis, and beginning in mid-2009, there has been a surge of capital into Asian and Latin American emerging economies. While capital inflows have a good side, they also have a bad side. This will be particularly pertinent when the increase in inflows occurs rapidly and when the flows take the form of relatively short-term and debt-related investments. These have been characteristics of the recent surge. Concerns about exchange rate appreciation and the macroeconomic effects of foreign exchange market intervention, as well as the effects on domestic asset and housing markets, have led countries to introduce capital controls of one form or another. Having favoured a move towards greater capital account liberalisation in the 1990s, the IMF’s attitude to controls has moderated, and it is now trying to establish a framework to guide the use of capital flow management measures. This article analyses the issues involved and discusses the chances of such a framework being effective.

  • Bird GR. (2012) 'Breaking Up Is Hard to Do: the Eurozone and the Political Economy of Monetary Disintegration'. World Economics: the journal of current economic analysis and policy, 13 Article number 3 , pp. 171-182.

    Abstract

    From a position some years ago where the euro was seen as set to challenge the dollar as the world’s leading currency, there are now serious concerns that the ongoing Eurozone crisis will lead to some countries eventually withdrawing from it, beginning a process of European monetary disintegration. In retrospect, insufficient attention was paid to the economics of optimum currency area theory when the Eurozone was set up, and too much to the apparent political imperatives of European unity. Reversing the process of European monetary integration is not straightforward. There are significant uncertainties, but there are also serious doubts as to whether the reforms needed to sustain the Eurozone in its current form will be introduced. The withdrawal of some of the weaker economies does not signal the end of the euro. By analogy, while some marriages are based on close compatibility, and are successful and long lasting, others encounter irreconcilable differences. In these cases divorce, although unpleasant and stressful, may be the preferred outcome.

  • Bird G, Bird G, Bird G, Mandilaras A, Popper H. (2012) 'Is there a Beijing Consensus on International Macroeconomic Policy?'. World Development,

    Abstract

    Some commentators have claimed that there is a growing Beijing Consensus among emerging and developing economies concerning the merits of China's economic policies. Within an analytical framework provided by the well known international policy trilemma, this paper investigates the empirical evidence concerning this claim with specific reference to the adoption of international macroeconomic policies. We find that there are substantial differences between what China does and what is done in other emerging and developing economies. While we discover some regional and inter-temporal variations, there seems to be little or no support for the existence of a Beijing Consensus. © 2012 Elsevier Ltd. All rights reserved.

  • Bird G. (2011) 'The International Monetary Fund in the global economy: Banks, bonds and bailouts'. REVIEW OF INTERNATIONAL ORGANIZATIONS, 6 (2), pp. 215-218.
  • Bird G, Mandilaras A. (2011) 'Once Bitten: The Effect of IMF Programs on Subsequent Reserve Behavior'. REVIEW OF DEVELOPMENT ECONOMICS, 15 (2), pp. 264-278.
  • Bird GR. (2011) 'The G20 After the Seoul Summit'. World Economics: the journal of current economic analysis and policy, 12 Article number 1 , pp. 193-202.

    Abstract

    To some, the G20 offers a representative, legitimate and effective forum for dealing with global economic issues, and represents a distinct improvement on the G8. To others it is seen as still lacking full legitimacy and as being an unlikely institutional vehicle for organising global economic cooperation and coordination. This article assesses these views in the aftermath of the Seoul summit of November 2010. To what extent has the momentum that appeared to have been generated at the London summit in April, 009 been maintained? Many of the more intractable problems facing the world economy were, in fact, deferred in 2009, allowing the impression to be created that there was a higher degree of international consensus than there really was. Moreover, the crisis circumstances at the time placed a high premium on swift policy action. As the crisis has eased, more fundamental disagreements have emerged, and these were reflected by the discussions in Seoul. The reality is likely to be that while it is a useful institution for debate and discussion, and perhaps for helping to resolve disagreement, the achievements of the G20 will probably turn out to be more modest than the London summit might have suggested.

  • Bird GR. (2011) 'Currency Wars: Rhetoric and Reality'. World Economics: the journal of current economic analysis and policy, 12 Article number 4

    Abstract

    The concept of ‘currency wars’ has come into popular use in recent years. This article examines various meanings of the phrase and its historical antecedents. It goes on to discuss why currency wars have become the focus of attention and the economic policy weapons that may be used to conduct such wars. It draws attention to the collateral economic damage that may be caused by unleashing these weapons both for the individual countries that use them and for the world economy. The article concludes that, while there may have been occasional currency battles or skirmishes, the empirical evidence does not support the claim that there is widespread currency warfare. However, currency misalignment does exist and correcting it would help induce the international adjustment needed to reduce the global economic imbalances that threaten international financial stability. The problem is to find effective institutional arrangements for encouraging this to happen. Current proposals under discussion that envisage an enhanced role for the IMF and the G20 seem unlikely to be very successful.

  • Bird GR. (2011) 'Graham Bird on Fault Lines and Fractures Threatening the World Economy'. World Economics: the journal of current economic analysis and policy, 12 Article number 3 , pp. 219-224.
  • Bird GR. (2011) 'Prospects for the Evolution of Global Reserves'. World Economics: the journal of current economic analysis and policy, 12 Article number 3 , pp. 191-212.

    Abstract

    The global reserve system has returned to the top of the agenda in debates about international monetary reform. Much of the contemporary discussion draws on familiar issues but it has been given a new relevance in the aftermath of the global financial crisis of 2008/09. One particular focus relates to the composition of international reserve assets and the role of the dollar. Will the dollar’s preeminent position be eroded and will the dollar be replaced by other international currencies? This paper examines the factors that determine a currency’s international status and assesses various candidate currencies including the euro and the Chinese renminbi. It also analyses the Special Drawing Right (SDR ) as an international reserve asset. It concludes that, while there may be advantages in enhancing the SDR ’s role and endeavouring to implement the commitment made in the Second Amendment to the IMF’s Articles of Agreement to encourage it to become the world’s principal international reserve asset, the more likely outcome is that the dollar will retain its status as the main international currency, although it may be joined by other currencies in a multiple currency system.

  • Bird G, Rowlands D. (2010) 'The Episodic and Unpredictable Nature of IMF Lending: An Empirical Analysis'. WORLD ECONOMY, 33 (10), pp. 1280-1301.
  • Powell R, Bird G. (2010) 'Aid and Debt Relief in Africa: Have They Been Substitutes or Complements?'. WORLD DEVELOPMENT, 38 (3), pp. 219-227.
  • Bird GR. (2010) 'The Eurozone: What Now?'. World Economics: the journal of current economic analysis and policy, 11 Article number 3 , pp. 41-60.

    Abstract

    The financial and economic crisis in Greece in 2009/2010 has reawakened interest in the future of the euro and the eurozone. After briefly explaining its sources, this article focuses on the longer-term issues to which the crisis gives rise. It explores the underlying weaknesses of current eurozone arrangements, and assesses whether the crisis will stimulate reforms designed to remedy them. The analysis suggests that, as with many crises, the one in the eurozone will lead to only relatively modest changes; these are unlikely to go much beyond the fairly ad hoc provision of emergency finance. Fundamental reform based on closer fiscal coordination, orderly insolvency arrangements or the establishment of a European Monetary Fund are unlikely. The break-up of the eurozone also seems unlikely. Indeed the crisis may catalyse structural reforms that in the long term increase the eurozone’s durability. The crisis also has important implications for the IMF.

  • Bird G. (2010) 'The SDR Aid Link: It's Now or Never'. DEV POLICY REV, 28 (1), pp. 63-74.
  • Bird GR, Rowlands D. (2010) 'The IMF and the Challenges it Faces'. World Economics: the journal of current economic analysis and policy, 11 Article number 4 , pp. 131-156.

    Abstract

    From being widely seen in early 2008 as an institution in decline and irrelevant to many of the problems then facing the world economy, the International Monetary Fund (IMF) has more recently been presented as an international financial institution that is of essential importance in the aftermath of the global financial and economic crisis of 2008/09. There has been a plethora of reforms affecting the amount of resources the IMF can lend, the design of its conditionality and its organisational structure. This article assesses the extent to which these reforms will enable the IMF to enhance its role and improve its operations. It identifies and analyses challenges currently facing the IMF and claims that the future of the IMF depends crucially on the success it exhibits in meeting these challenges. HIV/AIDS funding appears largely protected in the current crisis, as the two largest programmes – the US PEPFAR Program, and the Global Fund for AIDS, TB and Malaria – are not expected to contract. Moreover, 38% of all GFATM funding over nine funding rounds has not yet been spent by recipient governments, leaving a significant cushion particularly in Sub-Saharan Africa, where almost half of all allocations remain to be spent. Donor funding historically moves procyclically in developing countries, but there have been major shifts in recent years. During the current crisis, World Bank lending expanded by 50% as governments ramped up safety nets. Regionally, only eastern Europe was hit hard. Declining spending on that region’s social programmes has forced longdelayed reforms, but there have been negative impacts on household spending, particularly in health, though education spending has been far less affected.

  • Mandilaras A, Bird G. (2010) 'A Markov switching analysis of contagion in the EMS'. Journal of International Money and Finance, 29 (6), pp. 1062-1075.

    Abstract

    This paper applies the multivariate version of the Forbes and Rigobon (2002) contagion test, as proposed by Dungey et al. (2005a), to detect contagion effects in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS). Crisis and non-crisis observations are determined endogenously via a Markov-switching vector autoregression (MSVAR). We show that the MSVAR is suitable for this purpose, as it does particularly well in identifying the 11 realignments of the ERM. We examine whether Denmark's rejection of the Maastricht Treaty and Italy's competitiveness problems affected other EMS participants and find evidence for contagion. © 2010 Elsevier Ltd.

  • Bird GR. (2010) 'Special Drawing RightsHow Fashions Change'. World Economics: the journal of current economic analysis and policy, 11 Article number 1 , pp. 83-98.

    Abstract

    From a situation as late as 2008, when they were largely unfashionable, special drawing rights (SDR s) have become the centre of attention in discussions about a reformed international monetary system. The G20 and the International Monetary Fund (IMF) have backed a significant additional allocation of SDRs, and China and the United Nations have suggested that this should be followed up with more substantial reforms that diminish the role of the dollar and enhance that of the SDR . These proposals would incorporate a substitution account that allows holders of dollars to swap them into SDR s, but they see this as only one step towards establishing an SDR -based system. This article assesses the issues involved and the contemporary political economy of such proposals, placing them in historical context. It contemplates the likely evolution of the international monetary system, and examines the extent to which the SDR is likely to come back fully into fashion.

  • Bird G, Rowlands D. (2009) 'Exchange Rate Regimes in Developing and Emerging Economies and the Incidence of IMF Programs'. WORLD DEVELOPMENT, 37 (12), pp. 1839-1848.
  • Bird G. (2009) 'Analyzing the Global Political Economy'. ECON REC, 85 (271), pp. 485-487.
  • Bird G, Rowlands D. (2009) 'A DISAGGREGATED EMPIRICAL ANALYSIS OF THE DETERMINANTS OF IMF ARRANGEMENTS: DOES ONE MODEL FIT ALL?'. JOURNAL OF INTERNATIONAL DEVELOPMENT, 21 (7), pp. 915-931.
  • Arpac O, Bird G. (2009) 'Turkey and the IMF: A case study in the political economy of policy implementation'. REVIEW OF INTERNATIONAL ORGANIZATIONS, 4 (2), pp. 135-157.
  • Bird GR. (2009) 'The Dangers of Déjà Vu Economics'. World Economics: the journal of current economic analysis and policy, 10 Article number 1
  • Bird GR. (2009) 'So Far So Good, But Still Some Missing LinksA report card on the G20 London summit'. World Economics: the journal of current economic analysis and policy, 10 Article number 2 , pp. 149-172.
  • Bird G, Rowlands D. (2009) 'The IMF's role in mobilizing private capital flows: are there grounds for catalytic conversion?'. APPLIED ECONOMICS LETTERS, 16 (17) Article number PII 790606407 , pp. 1705-1708.
  • Bird GR. (2009) 'Reforming IMF ConditionalityFrom ‘streamlining’ to ‘major overhaul’'. World Economics: the journal of current economic analysis and policy, 10 Article number 3 , pp. 81-104.

    Abstract

    As it has for many years, International Monetary Fund conditionality is currently receiving much attention in the context of the global financial crisis. At the beginning of the 2000s the Fund introduced a policy of ‘streamlining’ intended to reduce the amount of conditionality and refocus it, with a view to increasing country ownership and improving programme implementation. This article uses the results of a report by the IMF’s Independent Evaluation Office into structural conditionality to assess the extent to which the initiative delivered on its promises. More significant seem to be the recent changes associated with the global crisis. The article discusses the evolution of conditionality, and assesses the current situation and the prospects for the future.

  • Arpac O, Bird G, Mandilaras A. (2008) 'Stop interrupting: An empirical analysis of the implementation of IMF programs'. WORLD DEVELOPMENT, 36 (9), pp. 1493-1513.
  • Bird G, Mandilaras A. (2008) 'Revisiting Mrs. Machlup's wardrobe: the accumulation of international reserves, 1992-2001'. APPLIED ECONOMICS LETTERS, 17 (5) Article number PII 793082206 , pp. 467-471.
  • Bird G. (2008) 'The implementation of IMF programs: A conceptual framework'. REVIEW OF INTERNATIONAL ORGANIZATIONS, 3 (1), pp. 41-64.
  • Bird G, Blomberg SB, Hess GD. (2008) 'International terrorism: Causes, consequences and cures'. WORLD ECONOMY, 31 (2), pp. 255-274.
  • Mandilaras A, Bird G. (2008) 'Foreign exchange pressures in Latin America: Does debt matter?'. Journal of International Development, 20 (5), pp. 613-627.

    Abstract

    Latin American countries have been in the eye of economic and financial storms several times in recent years. Advice from the International Monetary Fund has consistently highlighted the need for sound fiscal policies and lower debt levels. But is public debt relevant? Following a brief discussion of the theoretical issues involved, this paper examines empirically the relationship between public indebtedness and pressures in the foreign exchange market. Alternative measures are used to capture the latter and the analysis controls for a de facto classification of exchange rate regimes. Estimations of static and dynamic panels for 28 Latin American and Caribbean (LAC) countries report substantial fiscal effects. Copyright © 2008 John Wiley & Sons, Ltd.

  • Bird GR, Willett TD. (2008) 'Why do Governments Delay Devaluation?The political economy of exchange rate inertia'. World Economics: the journal of current economic analysis and policy, 9 Article number 4 , pp. 55-74.

    Abstract

    In the sequence of currency crises in emerging economies in the 1990s, there was an observed reluctance to devalue the exchange rate. Although ultimately adopted, the decision to devalue was usually delayed, often until it could no longer be avoided. While economic explanations of delay are available, they need to be combined with an evaluation of the political implications in order to secure a better understanding of exchange rate inertia. This article presents a political economy interpretation of delayed devaluation. It introduces and discusses the determining factors drawing on available empirical evidence and briefly applies these ideas to a range of specific examples. It also examines why there may be even more impediments in the way of timely revaluation. Since delayed exchange rate adjustment carries economic costs, the article also considers ways in which delay may be minimised.

  • Bird GR. (2008) 'Unwinding Global Economic Imbalances What’s growth got to do with it?'. World Economics: the journal of current economic analysis and policy, 9 Article number 3 , pp. 211-216.
  • Bird GR, Willett TD. (2008) 'Global Imbalances and the Lessons of Bretton Woods'. World Economics: the journal of current economic analysis and policy, 9 Article number 3 , pp. 229-234.
  • Bird G, Rowlands D. (2008) 'Catalysing private capital flows and IMF programs: some remaining questions'. JOURNAL OF ECONOMIC POLICY REFORM, 11 (1), pp. 37-43.
  • Bird G. (2007) 'The imf: A bird's eye view of its role and operations'. JOURNAL OF ECONOMIC SURVEYS, 21 (4), pp. 683-745.
  • Bird G, Rowlands D. (2007) 'The IMF and the mobilisation of foreign aid'. JOURNAL OF DEVELOPMENT STUDIES, 43 (5), pp. 856-870.
  • Bird G. (2007) 'A strategy for IMF reform'. WORLD ECONOMY, 30 (4), pp. 703-704.
  • Bird GR. (2007) 'On Solving the World’s Economic Problems by Doing Something Unfashionable'. World Economics: the journal of current economic analysis and policy, 8 (2), pp. 119-131.
  • Bird G, Rowlands D. (2007) 'Should it be curtains for some of the IMF's lending windows?'. Review of International Organizations, 2 (3), pp. 281-299.

    Abstract

    Increasing attention is being paid to IMF governance and operations, but not to how IMF programs are differentiated under the array of available lending windows. This paper examines empirically the economic and political circumstances associated with the use of IMF facilities. It therefore extends existing research into the determinants of IMF arrangements by investigating the extent to which different influences are at work in the case of different facilities. Focusing initially on extended arrangements as compared to stand-bys, the results indicate that although initially the facilities were used in different economic circumstances, since the mid 1980s these differences have largely disappeared. Instead the differences between user countries have become more political than economic. There are, however, some differences between concessionary and non-concessionary facilities beyond the income levels of countries using them. The policy implications for the range and design of the Fund's lending windows are discussed. © 2007 Springer Science + Business Media, LLC.

  • Bird GR, Mandilaras A. (2007) 'Foreign Exchange Markets in South East Asia 1990 – 2004: An Empirical Analysis of Spillovers during Crisis and Non–crisis Periods'. North American Journal of Economics and Finance, (18), pp. 41-57.
  • Bird GR, Ramkishen R. (2007) 'The Political Economy of Sequencing: the Trade and Monetary Components of Regional Integration'. North American Journal of Economics and Finance, , pp. 335-341.
  • Bird GR. (2007) 'The IMF: A Bird’s Eye View of Its Role and Operations'. Journal of Economic Surveys, 21 (4), pp. 683-745.
  • Bird GR, Willett TD. (2007) 'Multilateral Surveillance: Is the IMF Shooting for the Stars?'. World Economics: the journal of current economic analysis and policy, 8 (4), pp. 167-189.
  • Mandilaras A, Bird G. (2006) 'Foreign exchange markets in South-East Asia 1990-2004: An empirical analysis of spillovers during crisis and non-crisis periods'. North American Journal of Economics and Finance, 18 (1), pp. 41-57.

    Abstract

    The East Asian crisis of 1997 sparked an extensive literature in an effort to explain the causes and spread of heightened foreign exchange (FX) market pressures in the region. In this paper, we model FX movements and calculate spillover effects covering the extended period between 1990 and 2004. Using Markov switching vector autoregressions, we find evidence that FX correlations vary across crisis and non-crisis states, a result that bears implications for international portfolio diversification and reserve pooling. Even though the direction of effects does not follow discernible patterns, it is clear from the data that contagion effects are present. © 2006 Elsevier Inc. All rights reserved.

  • Bird G, Mandilaras A. (2006) 'Regional heterogeneity in the relationship between fiscal imbalances and foreign exchange market pressure'. WORLD DEVELOPMENT, 34 (7), pp. 1171-1181.
  • Bird G. (2006) 'New sources of development finance'. JOURNAL OF DEVELOPMENT STUDIES, 42 (3), pp. 536-538.
  • Bird GR. (2006) 'Are We Heading for a Dollar Crisis?'. World Economics: the journal of current economic analysis and policy, 7 (1), pp. 159-174.
  • Bird G, Rowlands D. (2006) 'IMF quotas: Constructing an international organization using inferior building blocks'. Review of International Organizations, 1 (2), pp. 153-171.

    Abstract

    The International Monetary Fund's structure and rules are based on the quota system that was constructed when the Fund was set up in 1946. Quotas affect contributions and resource availability at the Fund access to resources the distribution of Special Drawing Rights and voting rights. Despite periodic reviews and modifications the quota system has gradually been eroded and undermined. The fundamental problem is that a single system is attempting to serve four separate and incompatible functions. We illustrate how this erosion has taken place and how an unreformed quota system will compromise the future operations of the IMF and the international monetary and financial system. Although the difficulties associated with reforming quotas are myriad and complex the legacy of an unreformed quota system may be profoundly undesirable. We argue that a refined IMF structure must accommodate a clearer separation of a member's contributions to the IMF its access to IMF resources and its voting rights at the institution. © Springer Science + Business Media, LLC 2006.

  • Bird G, Rajan RS. (2006) 'The political economy of sequencing: Monetary versus trade regionalism'. North American Journal of Economics and Finance, 17 (3), pp. 335-341.
  • Bird GR. (2006) 'Are Mr.de Rato’s Spectacles Rose Tinted? Globalisation and the IMF’s Medium Term Strategy'. World Economics: the journal of current economic analysis and policy, 7 (2), pp. 1-17.
  • Bird GR. (2006) 'Running the IMF: Reducing Political Bias and Increasing Independence'. World Economics: the journal of current economic analysis and policy, 7 (4), pp. 111-124.
  • Bird G. (2005) 'Over-optimism and the IMF'. WORLD ECONOMY, 28 (9), pp. 1355-1373.
  • Bird G. (2005) 'International economic and financial cooperation: New issues, new actors, new responses'. WORLD ECONOMY, 28 (3), pp. 459-460.
  • Bird GR, Mandilaras A. (2005) 'Reserve Accumulation in Asia: Lessons for the Holistic Reform of the International Monetary System'. World Economics: the journal of current economic analysis and policy, 6 (1), pp. 85-99.
  • Bird GR, Rajan R, Siregar R. (2005) 'Precautionary Reserve Holdings in Asia: Examining the Case for a Regional Reserve Pool'. Asia Pacific Journal of Economics and Business, 9 (1), pp. 21-39.
  • Bird G, Rowlands D. (2004) 'Financing Balance of Payments Adjustment: Options in the Light of the Elusive Catalytic Effect of IMF-Supported Programmes'. Comparative Economic Studies, 46 (3), pp. 468-486.

    Abstract

    IMF programmes have sought to balance economic adjustment and external financing in part by relying on catalysing capital inflows from other sources. This paper reviews the mechanisms by which catalysis is believed to operate, and the evidence pertaining to its existence. The conclusion is that traditional catalysis is generally less reliable than it has been portrayed to be. The policy implications of this elusive catalytic effect are examined. The more formal differentiation of programmes on the basis of recipients and their circumstances may help constrain some of the excessive claims made for catalysis and identify ways of providing a level of financing consistent with optimal adjustment. Comparative Economic Studies (2004) 46, 468–486. doi:10.1057/palgrave.ces.8100058

  • Bird G. (2004) 'The IMF forever: An analysis of the prolonged use of fund resources'. JOURNAL OF DEVELOPMENT STUDIES, 40 (6), pp. 30-58.
  • Bird G. (2004) 'Fiscal adjustment in IMF-supported programs: Evaluation report'. WORLD ECONOMY, 27 (8), pp. 1315-1317.
  • Bird GR, Rowlands D. (2004) 'Does the IMF Perform a Catalytic Role? And What If It Doesn’t?'. World Economics: the journal of current economic analysis and policy, 5 (1), pp. 117-132.
  • Bird G, Hussain M, Joyce JP. (2004) 'Many happy returns? Recidivism and the IMF'. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, BOSTON, MA: 23 (2), pp. 231-251.
  • Bird GR, Rajan R. (2004) 'Does Devaluation Lead to Economic Recovery or Economic Contraction? Theory and Policy with Reference to Thailand'. Journal of International Development, 16, pp. 141-156.
  • Bird G, S Rajan R. (2004) 'Does devaluation lead to economic recovery or contraction? Theory and policy with reference to Thailand'. Journal of International Development, 16 (2), pp. 141-156.

    Abstract

    Most analyses of the East Asian financial crisis have focused on its causes and the links between currency and banking crises. However a related question is what happens in the aftermath of a crisis? What factors determine the path of an economy in the post-devaluation phase? Does it swiftly bounce back, with the crisis being followed by a period of economic recovery, or does it face a period of economic recession if not outright output collapse? An important element in answering these questions is to consider the response to devaluation, since this constitutes an almost invariant component of economic stabilisation. This paper examines these questions analytically as well as by using Thailand as a case study. © 2004 John Wiley and Sons, Ltd.

  • Bird G. (2004) 'Growth, poverty and the IMF'. Journal of International Development, 16 (4), pp. 621-636.

    Abstract

    Although the IMF presents itself as a monetary institution, it plays an important role in providing support to poor countries via its Poverty Reduction and Growth Facility. It is difficult to imagine more central development issues than poverty and growth. However, while there is a broad consensus surrounding the stabilization issues with which IMF programmes conventionally deal, there is much less agreement about the causes of economic growth and poverty. This carries lessons for the design of the PRGF. While most reviews of it focus on 'process', this paper offers a more fundamental analysis of the Fund's involvement in growth and poverty reduction. It suggests that the design of conditionality needs to distinguish between elements according to the degree of scientific consensus. It also suggests that the success of the Fund's attempts to facilitate growth and poverty reduction will be severely constrained unless the necessary external, financial support is provided. © 2004 John Wiley and Sons, Ltd.

  • Nyawata O, Bird G. (2004) 'Financial liberalisation in Southern Africa: An assessment'. Development Policy Review, 22 (3), pp. 287-307.

    Abstract

    In the early 1990s many Southern African economies embarked on financial liberalisation. Although it is too soon to carry out sophisticated econometric analysis of this change in policy, the available empirical evidence may be inspected to see whether it lends support to advocates of financial liberalisation. In this article we explore the avenues through which financial liberalisation might be expected to exert an influence. Consistent with much of the existing literature, we discover that a degree of agnosticism is warranted. Financial liberalisation is no panacea and will not improve economic performance unless accompanied by sound economic policies. It remains difficult to isolate the effects of financial liberalisation from the data available. © Overseas Development Institute, 2004.

  • Bird G, Willett TD. (2004) 'IMF Conditionality, Implementation and the New Political Economy of Ownership'. Comparative Economic Studies, 46 (3), pp. 423-450.

    Abstract

    Recent attempts to explain the implementation of conditionality incorporated in IMF-supported programmes have used the concept of ‘ownership’. A literature on ownership has begun to emerge and, alongside this, policy changes in the form of streamlining conditionality and broadening participation in its design have been introduced to encourage ownership. However, ownership is difficult to define precisely and this limits its operational value. This paper focuses instead on implementation and suggests that wider participation will not guarantee better implementation. However, it stresses that political economy variables are important in assessing the chances of implementation and argues that these need to be considered more fully than they are at present when programmes are being negotiated. We suggest a narrow concept of ownership that focuses on prospects for implementation. One implication is that the Fund may have to make concessions on the technical design of programmes in order to maximise the chances that improved policies will be adopted. Comparative Economic Studies (2004) 46, 423–450. doi:10.1057/palgrave.ces.8100060

  • Bird G, Rajan R. (2003) 'Too much of a good thing? The adequacy of international reserves in the aftermath of crises'. WORLD ECONOMY, 26 (6), pp. 873-891.
  • Bird G. (2003) 'Financial crises and what to do about them'. WORLD ECONOMY, 26 (2), pp. 261-262.
  • Bird G. (2003) 'Restructuring the IMF's lending facilities'. WORLD ECONOMY, 26 (2), pp. 229-245.
  • Bird G, Mandilaras A. (2003) 'Viral spiral? Contagion, interdependence and fundamentals in Latin America'. New Economy, 10 (3), pp. 181-186.

    Abstract

    Some diseases are more contagious than others, but what determines whether a disease spreads or is contained? Proximity is a factor but some have stronger immunity than others. Even vaccination does not guarantee against infection but if a person does get infected there may be an available antidote. Could the same things be said about financial crises, such as those experienced in Latin America? This article looks at the channels through which economic developments in one country can spill over to others. It discusses interdependence and contagion. However, we suggest that the simple 'trigger-spillover' story is deficient in the Latin American context. It would be wrong to view the crisis in Argentina as the root cause of Latin America's current problems. World economic growth has declined and this has more clearly exposed the deficiencies in Latin America's economic fundamentals. But how can countries immunies themselves against crisis and contagion and, in the midst of the crisis, is the IMF doctor prescribing the best medicine?

  • Bird G, Milne A. (2003) 'Debt relief for low income countries: Is it effective and efficient?'. WORLD ECONOMY, 26 (1), pp. 43-59.
  • Rajan RS, Bird G. (2003) 'Banks, Maturity Mismatches and Liquidity Crises: A Simple Model'. Economia Internazionale / International Economics, 56 (2), pp. 185-192.

    Abstract

    In determining the maturity structure of bank loans in the presence of pre-determined short-term international liabilities, we show that maturity mismatches in banks’ balance sheets are fully consistent with the assumption of banks acting as self-interested, optimising agents. Although often attributed to the moral hazard associated with safety nets, the analysis shows that financial crises can occur in their absence.

  • Bird G, Rowlands D. (2003) 'Political economy influences within the life-cycle of IMF programmes'. WORLD ECONOMY, 26 (9), pp. 1255-1278.
  • Bird GR. (2002) 'Cry for Argentina: Not for its Currency Board'. New Economy, 9 (3), pp. 159-165.
  • Bird G. (2002) 'The completion rate of IMF programmes: What we know, don't know and need to know'. WORLD ECONOMY, 25 (6), pp. 833-847.
  • Bird GR, Rowlands D. (2002) 'The Pattern of IMF Lending: An Analysis of Prediction Failures'. Journal of Policy Reform, 5 (3), pp. 173-186.
  • Bird G, Rajan RS. (2002) 'Regional arrangements for providing liquidity in a financial crisis: developments in East Asia'. PACIFIC REVIEW, 15 (3), pp. 359-379.
  • Bird G. (2002) 'The credibility and signalling effect of IMF programmes'. JOURNAL OF POLICY MODELING, 24 (9) Article number PII S0161-8938(02)00168-0 , pp. 799-811.
  • Bird G, Rajan R. (2002) 'Optimal currency baskets and the third currency phenomenon: Exchange rate policy in Southeast Asia'. Journal of International Development, 14 (8), pp. 1053-1073.

    Abstract

    Recent financial crises seem to have led to the broad consensus that developing countries should steer clear of exchange rate regimes that lie anywhere between the two extremes or 'corner solutions' of credibly fixed or flexible arrangements. But is this a reasonable position to adopt? Would developing countries be well advised to follow this policy recommendation? Should developing countries opt only for the corner solutions? Did the crisis-hit South-east Asian countries (Indonesia, Malaysia, Thailand and Philippines), make a mistake in effectively pegging to the US dollar rather than in pegging per se? Did pegging to the US dollar constitute a sub-optimal peg? If it did, what would have been the optimum peg? This paper attempts to provide answers to the preceding questions. The paper also conjectures more broadly about monetary policy in developing countries. © 2002 John Wiley and Sons, Ltd.

  • Bird G, Rajan RS. (2002) 'Does FDI guarantee the stability of international capital flows? Evidence from Malaysia'. Development Policy Review, 20 (2), pp. 191-202.

    Abstract

    The conventional wisdom is that crises are largely due to swings in short-term capital. Economies that finance their current account deficits mainly via foreign direct investment (FDI) are therefore seen as being less susceptible to a crisis. The analysis in this article, backed up by some empirical evidence drawn from Malaysia, challenges the casual presumption that the switch towards FDI alone will automatically imply that extreme capital instability will become a thing of the past.

  • Bird G, Rowlands D. (2002) 'Do IMF programmes have a catalytic effect on other international capital flows?'. Oxford Development Studies, 30 (3), pp. 229-249.

    Abstract

    It has frequently been assumed that the International Monetary Fund (IMF) plays an important catalysing role in mobilizing international capital for developing countries and countries in transition. The Fund has conventionally been depicted as a "gatekeeper" that unlocks financial flows from other sources, particularly private international capital markets. However, more recently, international financial crises have highlighted the problem of capital volatility and have led to calls for reform of the international financial architecture and, as part of this, the IMF. Unfortunately, basic questions about the interaction between current institutional arrangements and international capital markets have yet to be answered. How do international capital markets react to the activities of the IMF? Do the reactions of private and public lenders differ? Have their reactions changed over time? Do market responses depend on country characteristics and on the type of IMF involvement and, if so, how? This paper addresses these questions and goes on to discuss the policy implications that arise.

  • Bird G. (2002) 'What difference does it make? The global economic effects of international terrorism'. New Economy, 9 (2), pp. 106-112.

    Abstract

    Inherited growth theory suggests that the long-term economic effects of the terrorist acts of 11 September are unlikely to be significant. Aggregate supply is unlikely to be affected in the long run. In the shorter term, theory suggests and evidence supports the idea that the terrorist acts have contributed to reducing aggregate demand. This has engendered a typically neo-Keynesian policy response. Governments have accepted the responsibility of managing aggregate demand via monetary and fiscal policy instruments in an attempt to avoid recession and unemployment. The economic policy response to international terrorist acts represents another chapter in the story of neo-Keynesian resurgence. Since the stock market crash in 1987, governments have tended to respond to the threat of recession in a fairly conventional neo-Keynesian way. In the case of the response to 11 September, they have been helped by the fact that the dangers of policy overkill were muted. Many economies were heading for recession anyhow and inflation was at historically low levels. Looking to the future, there may be a systemic role for the IMF to play in co- ordinating such responses to external shocks from wherever they emanate, and this should become a part of the ongoing debate about reforming the Fund.

  • Rajan RS, Bird G. (2002) 'Will Asian economies gain from liberalizing trade in services?'. JOURNAL OF WORLD TRADE, 36 (6), pp. 1061-1079.
  • Bird G. (2002) 'Cry for Argentina'. New Economy, 9 (3), pp. 158-165.

    Abstract

    For many years prior to 1991 Argentina had experienced very rapid inflation. This undermined competitiveness and led to frequent devaluations. The cycle of inflation, devaluation and more inflation was politically unpopular and the breaking of this cycle became a political priority. The government attempted to do this by pegging the value of the peso to the US dollar and setting up a currency board both to increase the credibility of the peg and to constrain monetary policy and therefore fiscal policy. When shocks occurred, such as the Mexican crisis in 1994, Argentina could therefore no longer respond by changing its exchange rate. What happened instead was that the economy experienced recession and rising unemployment. The basic lesson of Argentina's experience is hardly novel: it is impossible to sustain a disequilibrium exchange rate over a protracted period of time. The costs of trying to do so simply became too high in both economic and political terms, making exchange rate realignment inevitable. For this reason, one should not cry for the demise of Argentina's currency peg.

  • Bird GR. (2002) 'Where Do We Stand on Choosing Exchange Rate Regimes in Developing and Emerging Economies'. World Economics: the journal of current economic analysis and policy, 3 (11), pp. 145-167.
  • Bird G. (2001) 'IMF programs: Do they work? Can they be made to work better?'. WORLD DEVELOPMENT, 29 (11), pp. 1849-1865.
  • Bird G, Rajan RS. (2001) 'Banks, financial liberalisation and financial crises in emerging markets'. WORLD ECONOMY, 24 (7), pp. 889-910.
  • Bird G, Rowlands D. (2001) 'World Bank lending and other financial flows: Is there a connection?'. JOURNAL OF DEVELOPMENT STUDIES, 37 (5), pp. 83-103.
  • Bird G, Rajan RS. (2001) 'International currency taxation and currency stabilisation in developing countries'. JOURNAL OF DEVELOPMENT STUDIES, 37 (3), pp. 21-38.
  • Bird G. (2001) 'Conducting macroeconomic policy in developing countries: piece of cake or mission impossible?'. THIRD WORLD QUARTERLY, 22 (1), pp. 37-49.
  • Bird GR, Rajan R. (2001) 'Restraining Capital Flows: What Does It Mean?'. Global Economy Quarterly, 1 (2), pp. 57-80.
  • Bird G. (2001) 'A suitable case for treatment? Understanding the ongoing debate about the IMF'. THIRD WORLD QUARTERLY, 22 (5), pp. 823-848.
  • Bird G, Rajan RS. (2001) 'Coping with, and cashing in on, international capital volatility'. Journal of International Development, 13 (1), pp. 1-24.

    Abstract

    The political economy of currency taxation suggests that the idea will receive more support if it can be shown to make a significant contribution to offsetting the perceived inefficiencies of private international capital markets. This paper explores what can be expected from a currency tax in this respect. It shows that there are simple but neglected analytical issues that make such a tax an attractive idea. If the tax is relatively ineffective in helping to avoid financial crises and calming markets, it will be relatively effective at providing the resources necessary to mitigate the aftermath of such events. The paper offers new proposals for using the revenue from currency taxation to finance the operations of the IMF. Copyright © 2001 John Wiley & Sons, Ltd.

  • Bird GR. (2001) 'Is Dollarisation a Viable Option for Latin America?'. World Economics: the journal of current economic analysis and policy, 2 (1), pp. 137-147.
  • Bird GR, Rajan R. (2001) 'Economic Globalization: How Far and How Much Further?'. World Economics: the journal of current economic analysis and policy, 2 (3), pp. 1-18.
  • Bird GR, Rajan R. (2001) 'Remodelling the Multilateral Financial Institutions'. Global Economy Quarerly, 1 (2), pp. 57-80.
  • Bird G, Joyce JP. (2001) 'Remodeling the multilateral financial institutions'. GLOBAL GOVERNANCE, 7 (1), pp. 75-93.
  • Bird GR. (2001) 'IMF Programmes: Is There a Conditionality Laffer Curve?'. World Economics: the journal of current economic analysis and policy, 2 (2), pp. 29-49.
  • Bird GR, Rowlands D. (2001) 'IMF Lending: How Is It Affected by Economic, Political and Institutional Factors'. Journal of Policy Reform, 4 (3), pp. 823-848.
  • Bird GR. (2001) 'What Happened to the Washington Consensus?'. World Economics: the journal of current economic analysis and policy, 2 (4), pp. 33-51.
  • Bird GR, Rajan R. (2001) 'Still the Weakest Link: the Domestic Financial System and Post-1998 Recovery in East Asia'. Development Policy Review, 19 (3), pp. 355-366.
  • Bird G, Rowlands D. (2001) 'Catalysis or direct borrowing: The role of the IMF in mobilising private capital'. WORLD ECONOMY, 24 (1), pp. 81-98.
  • Bird G, Mori A, Rowlands D. (2000) 'Do the multilaterals catalyse other capital flows? A case study analysis'. THIRD WORLD QUARTERLY, 21 (3), pp. 483-503.
  • Bird G. (2000) 'Reforming the IMF: Long Term Lessons from Short Term Crises'. Zagreb International Review of Economics and Business, 3 (1), pp. 1-24.

    Abstract

    There is a danger that reform of the International Monetary Fund (IMF) will be dominated by its experience in the context of the East Asian financial crisis. Although there are clearly lessons to learn from this, it would be unwise to allow recent events to dominate the reform agenda. In many respects the crisis only provides a further specific example of more general and fundamental issues spanning the design and implementation of conditionality, exchange rate policy in developing countries and countries in transition, the ability of the Fund to mobilise and manage other financial flows, the size of IMF lending, the international lender of last resort function, and capital account liberalisation. Moreover, to focus on the Fund’s role in better off developing countries is to ignore its role in low income countries. There is a problem of attention bias. Reforming the IMF for the 21st century requires that all these issues are addressed.

  • Bird GR. (2000) 'Sins of the Commission: The Meltzer Report on International Financial Institutions'. World Economics: the journal of current economic analysis and policy, 1 (3), pp. 17-29.
  • Bird GR. (2000) 'Reforming the IMF: Should the Fund Abandon Conditionality?'. New Economy, 7 (4), pp. 214-218.
  • Bird GR, Milne A. (2000) 'Debt Relief for Poor Countries: Distinguishing Rhetoric from Reality'. New Economy, 7 (4), pp. 199-204.
  • Bird GR, Rajan R. (2000) 'Is there a Case for an Asian Monetary Fund?'. World Economics: the journal of current economic analysis and policy, 11 (2), pp. 135-144.
  • Bird G, Rowlands D. (2000) 'The catalyzing role of policy-based lending by the IMF and the world bank: Fact or fiction?'. Journal of International Development, 12 (7), pp. 951-973.

    Abstract

    Does the involvement of the IMF and World Bank in developing countries and countries in transition help them to attract capital from other sources? Do the multilateral institutions exert a catalytic effect? While there is a strong body of opinion that claims that they do, the catalytic effect has been under-researched. This paper briefly reports the results from a research project financed by the UK Department for International Development. It examines the theory behind catalysis and also investigates the empirical evidence relating to it, drawing on qualitative research, regression analysis based on a large sample of developing countries, and systematic case studies. The analysis shows how the catalytic effect is nuanced and complex but that overall it is weak. The catalyzing role of the IMF and the World Bank remains potentially important, however, and the paper assesses ways in which it may be strengthened. Reforms are discussed in the context of the debate over a new international financial architecture. Copyright (C) 2000 John Wiley and Sons, Ltd.

  • Bird G. (1999) 'The Political Economy of Foreign Aid: Fatigue or Regeneration?'. Zagreb International Review of Economics and Business, 2 (2), pp. 1-24.

    Abstract

    The purpose of this paper is to explain recent changes in aid provision by examining both the economics and politics that lie behind them. Within the context of an analysis of the political economy of foreign aid, it is then possible to say whether aid fatigue is likely to persist, or whether it is reasonable to expect a regeneration of aid as a consequence of increasing knowledge about how it works and changing political imperatives.

  • Bird G. (1999) 'Toward a new international financial architecture: A practical post-Asia agenda'. WORLD ECONOMY, 22 (7), pp. 1039-1040.
  • Bird G. (1999) 'Crisis averter, crisis lender, crisis manager: The IMF in search of a systemic role'. WORLD ECONOMY, 22 (7), pp. 955-975.
  • Bird G, Milne A. (1999) 'Miracle to meltdown: a pathology of the East Asian financial crisis'. THIRD WORLD QUARTERLY, 20 (2), pp. 421-437.
  • Bird GR. (1999) 'Time for Tobin?'. New Economy, 6 (4), pp. 229-233.
  • Bird GR. (1999) 'Capital Liberalisation: Accounting for Imperfection'. New Economy, 6 (1), pp. 50-55.
  • Bird G. (1999) 'How important is sound domestic macroeconomics in attracting capital inflows to developing countries?'. Journal of International Development, 11 (1), pp. 1-26.

    Abstract

    Many developing countries face deficiencies of domestic saving and foreign exchange. With foreign aid declining in real terms it becomes increasingly important to ask what they can do to attract private capital. Without capital inflows, shortages of external financing are likely to constitute an effective constraint on economic development. Within this context a key question is 'how important is it to get the macroeconomics right?'. Can developing countries expect to be rewarded for improved macroeconomic performance by capital inflows? Clearly if they can, there is an additional incentive to seek such improvement. The theoretical and empirical analysis in this paper suggests that there will be no short-run pay-off to improved macroeconomics, beyond a point at which severe macroeconomic disequilibria are eliminated. Whereas there are predictable penalties for getting the macroeconomics badly wrong, there are no equivalently predictable rewards getting it 'right'. In large measure this is the consequence of the ambiguities surrounding what is sound macroeconomics. Macroeconomics is simply too uncertain to encourage investors to attach deterministic weights to indicators of macroeconomic policy and performance. For as long as these uncertainties remain, it is difficult to see how domestic macroeconomics will become a dominant factor in explaining capital flows.

  • Bird G. (1998) 'The political economy of the SDR: The rise and fall of an international reserve asset'. GLOBAL GOVERNANCE, 4 (3), pp. 355-379.
  • Bird G. (1998) 'Exchange rate policy in developing countries: what is left of the nominal anchor approach?'. THIRD WORLD QUARTERLY, 19 (2), pp. 255-276.
  • Bird GR. (1998) 'Convertibility and Volatility: the Pros and Cons of Liberalizing the Capital Account'. Economic Notes, 27, pp. 35-32.
  • Bird GR. (1998) 'Dealing with African Debt'. New Economy, 5 (1), pp. 62-67.
  • Bird GR. (1998) 'The Rise and Fall of the SDR: The Political Economy of an International Reserve Asset'. Global Governance, 4, pp. 355-379.
  • Bird GR. (1998) 'Foreign Aid: Where Now?'. Economic Review, 16 (1), pp. 12-15.
  • Bird GR. (1998) 'The Effectiveness of Conditionality and the Political Economy of Policy Reform: Is It Simply a Matter of Political Will?'. Journal of Policy Reform, 1, pp. 89-113.
  • Bird G, Rowlands D. (1997) 'The catalytic effect of lending by the international financial institutions'. WORLD ECONOMY, 20 (7), pp. 967-991.
  • Bird G. (1997) 'External financing and balance of payments adjustment in developing countries: Getting a better policy mix'. WORLD DEVELOPMENT, 25 (9), pp. 1409-1420.
  • Bird G, Helwege A. (1997) 'Can neoliberalism survive in Latin America?'. MILLENNIUM-JOURNAL OF INTERNATIONAL STUDIES, 26 (1), pp. 31-&.
  • Bird G, Snowden N. (1997) 'From banks to bonds: A problem resolved? A perspective from the LDC debt literature'. Journal of International Development, 9 (2), pp. 207-220.
  • Bird GR, Helwege A. (1997) 'Can Neo-Liberalism Survive in Latin America?'. Millennium: journal of international studies, 26 (1), pp. 31-56.
  • Bird GR. (1997) 'Can the IMF be Rescued?'. New Economy, 4 (3), pp. 182-187.
  • Bird G. (1996) 'Borrowing from the IMF: The policy implications of recent empirical research'. WORLD DEVELOPMENT, 24 (11), pp. 1753-1760.
  • Bird G. (1996) 'The exchange rate system and the IMF: A modest agenda - I-Int-Ec'. JOURNAL OF INTERNATIONAL ECONOMICS, 41 (1-2), pp. 211-213.
  • Bird G. (1996) 'From Bretton Woods to Halifax and beyond: The political economy of international monetary reform'. WORLD ECONOMY, 19 (2), pp. 149-172.
  • Bird G. (1996) 'The Bretton Woods Institutions and the political economy of international monetary reform - Introduction'. WORLD ECONOMY, 19 (2), pp. 143-147.
  • Bird G. (1996) 'The International Monetary Fund and developing countries: A review of the evidence and policy options'. INTERNATIONAL ORGANIZATION, 50 (3), pp. 477-511.
  • Bird GR. (1995) 'Managing the World Economy: A Future for the IMF?'. The Economic Review, 12 Article number 4 , pp. 31-35.
  • Bird GR. (1995) 'The IMF and Developing Countries: A Review of the Evidence and Policy Options'. International Organization, 50 (3), pp. 477-512.
  • Bird GR. (1995) 'On Linking International Monetary Reform and Economic Assistance to Low Income Countries'. Social and Economic Studies, 44 Article number 2
  • BIRD G. (1994) 'THE MYTHS AND REALITIES OF IMF LENDING'. WORLD ECONOMY, 17 (5), pp. 759-778.
  • BIRD G. (1994) 'THE INTERNATIONAL MONETARY-SYSTEM AND ITS REFORM - CONTRIBUTIONS TO ECONOMIC-ANALYSIS, PT 4-5 - DELL,S'. WORLD ECONOMY, 17 (3), pp. 418-418.
  • Bird GR. (1994) 'The Myths and Realities of IMF Lending'. The World Economy, 17 Article number 5 , pp. 759-778.
  • Bird GR. (1994) 'Changing Partners, and the Changing Perspectives and Policies of the Bretton Woods Institutions'. Third World Quarterly: journal of emerging areas, 15 Article number 3 , pp. 483-504.
  • BIRD G. (1993) 'INCOME-DISTRIBUTION, INFLATION, AND GROWTH - TAYLOR,L'. MANCHESTER SCHOOL OF ECONOMIC AND SOCIAL STUDIES, 61 (1), pp. 118-119.
  • Bird GR. (1993) 'Sisters in Economic Development: The Bretton Woods Institutions and Developing Countries'. Journal of International Development, 5 Article number 1 , pp. 1-26.
  • BIRD G. (1992) 'GLOBAL ENVIRONMENTAL DEGRADATION AND INTERNATIONAL RESOURCE TRANSFERS'. GLOBAL ENVIRONMENTAL CHANGE-HUMAN AND POLICY DIMENSIONS, 2 (3), pp. 229-238.
  • Bird GR. (1992) 'Ten Years Older and Deeper in Debt? The Developing Country Debt Problem in Retrospect and Prospect'. Spring Edition. Economics, , pp. 19-26.
  • BIRD G. (1992) 'THE ECONOMICS OF MANAGING A UNIVERSITY'. STUDIES IN HIGHER EDUCATION, 17 (3), pp. 265-280.
  • BIRD G. (1991) 'DEVELOPING-COUNTRY DEBT AND ECONOMIC-PERFORMANCE - SACHS,JD, COLLINS,SM'. JOURNAL OF DEVELOPMENT STUDIES, 27 (4), pp. 170-171.
  • BIRD G. (1991) 'REFORMING EASTERN-EUROPEAN ECONOMIES, CONFERENCE ORGANIZED BY THE DEPARTMENT OF ECONOMICS, UNIVERSITY-OF-SURREY, GUILDFORD, SURREY, UK, 6 FEBRUARY 1991'. ENERGY POLICY, 19 (4), pp. 407-408.
  • BIRD G. (1991) 'DEBT, DEFICITS AND DOLLARS - THE WORLD-ECONOMY IN 3-D'. WORLD DEVELOPMENT, 19 (2-3), pp. 245-254.
  • Bird GR. (1991) 'A Vulnerable Democracy'. Energy Policy, , pp. 407-408.
  • BIRD G. (1990) 'DEVELOPING-COUNTRY DEBT AND THE WORLD-ECONOMY - SACHS,JD'. ECONOMIC JOURNAL, 100 (403), pp. 1351-1353.
  • BIRD GR. (1990) 'GROWING OUT OF DEBT - HEWITT,A, WELLS,B'. JOURNAL OF DEVELOPMENT STUDIES, 27 (1), pp. 133-134.
  • Bird GR. (1990) 'International Co-ordination of Macroeconomic Policy'. The Economic Review, , pp. 36-41.
  • Bird GR. (1990) 'International Co-ordination of Macroeconomic Policy'. The Economic Review, , pp. 36-41.
  • Bird G. (1989) 'Introduction: Third World debt'. Third World debt, , pp. 1-19.

    Abstract

    Sets out to put the following chapters into some form of perspective and to examine three main questions: why do debt problems arise; how have they been handled in the past; and how might they be handled in the future? Answering these questions involves an assessment of the adequacy of existing techniques for dealing with the debt problem along with some comment on alternative techniques. -from Author

  • Bird G. (1989) 'Strategic plans or muddling through: the generics of Third World debt policy'. Third World debt, , pp. 189-217.

    Abstract

    Against the background of the premise that the debt crisis is likely to further deteriorate, this chapter examines a range of generic policy approaches. A number of criteria are discussed against which these approaches may be assessed, including efficiency and equity. Market based reform is unlikely to provide a solution: recommends a collection of mutually reinforcing policies which together provide a genuinely multilateral debt strategy. -after Author

  • Bird G. (1988) 'Debt Swapping in Developing Countries: A Preliminary Investigation'. The Journal of Development Studies, 24 (3), pp. 293-309.

    Abstract

    Debt swapping has begun to be used over recent years as one means of alleviating the global debt problem. This article undertakes a preliminary investigation of the economics of debt swapping, and attempts to identify and assess the principal advantages and disadvantages of such schemes. The conclusion reached is that, while the benefits outweigh the costs, debt swapping will not do very much to tackle the fundamental issues involved in the debt problem. An appendix examines the welfare effects of governmental regulation of debt swapping. © 1988, Taylor & Francis Group, LLC. All rights reserved.

  • Bird G. (1988) 'Does the international financial system discriminate against developing countries?'. Intereconomics, 23 (2), pp. 75-78.

    Abstract

    The last 15 years have seen broad operational changes in the international system, accompanied since the beginning of the 1980s by a change in economic philosophy in a number of important industrial countries. Professor Bird examines the effects of various features of the post-Bretton Woods era on developing countries and proposes some reforms for the future. © 1988 HWWA and Springer-Verlag.

  • BIRD G. (1988) 'THE THIRD-WORLD AND DECISION-MAKING IN THE INTERNATIONAL-MONETARY-FUND - THE QUEST FOR FULL AND EFFECTIVE PARTICIPATION - FERGUSON,T'. INTERNATIONAL AFFAIRS, 64 (4), pp. 680-680.
  • BIRD G. (1987) 'DOES AID WORK - CASSEN,R'. JOURNAL OF DEVELOPMENT STUDIES, 24 (1), pp. 94-96.
  • Bird GR. (1987) 'Debt Conversion in Principle and Practice'. Banca Nazionale del Lavoro Quarterly Review, , pp. 183-196.
  • Bird GR. (1987) 'Oil Prices and Debt'. Royal Bank of Scotland Review, , pp. 3-17.
  • BIRD G. (1987) 'A STRATEGY FOR GLOBAL DEBT'. MILLENNIUM-JOURNAL OF INTERNATIONAL STUDIES, 16 (3), pp. 473-487.
  • BIRD G. (1987) 'THE INTERNATIONAL DEBT CRISIS OF THE THIRD-WORLD - CAUSES AND CONSEQUENCES FOR THE WORLD-ECONOMY - NUNNENKAMP,P'. INTERNATIONAL AFFAIRS, 63 (2), pp. 304-305.
  • Bird G. (1987) 'Interest rate compensation and debt: would a cap fit?'. World Development, 15 (9), pp. 1237-1242.

    Abstract

    One group of proposals for alleviating debt problems endeavors to ameliorate the difficulties resulting from unanticipated increases in interest rates. Interest rate capping might, for example, involve setting up an Interest Rate Compensation Facility within the International Monetary Fund along the lines of the Fund's Compensatory Financing Facility. This article examines the logic of such institutional reform but also draws attention to a number of problems that would be involved. © 1987.

  • Bird G. (1986) 'New approaches to country risk.'. Lloyds Bank Review, 162, pp. 1-16.

    Abstract

    Private banks have been endeavouring to extricate themselves from lending to developing countries, but this creates the problem of finding substitute lenders because of the global deflationary effects if financing is not forthcoming. The article examines the lending policies of the banks and asks whether the ways in which country risk have been assessed have been satisfactory. It is concluded that they have not and reforms to risk analysis are proposed that would result in a more stable, sustainable, and predictable flow of bank finance to developing countries. - D.G.Price

  • Bird GR, Oppenheim J. (1985) 'A Critical Review of Proposals for Financial Co operation Among Developing Countries'. Banca Nazionale del Lavoro Quarterly Review, , pp. 279-290.
  • Bird GR. (1985) 'Managing the World Economy: Old Order, New Order or Disorder?'. Journal of Development Studies, , pp. 243-250.
  • Bird GR. (1985) 'Understanding International Debt'. Summer Edition. Economics, , pp. 49-56.
  • Bird GR. (1985) 'Commercial Credit to Developing Countries: A Preliminary Investigation into the Theory of International Bank Lending'. International Journal of Development Banking, , pp. 5-14.
  • Bird GR, Killick T, Sharpley J, Sutton M. (1984) 'IMF Policies in Developing Countries: The Case for Change'. The Banker, , pp. 31-36.
  • BIRD G. (1984) 'SOUTH-SOUTH FINANCIAL COOPERATION - APPROACHES TO THE CURRENT CRISIS - THE JAMAICA PAPERS - AVRAMOVIC,D'. INTERNATIONAL AFFAIRS, 60 (1), pp. 129-130.
  • Bird GR. (1984) 'An Agenda for International Monetary Reform'. Summer Edition. Economics, , pp. 58-60.
  • BIRD G. (1984) 'THE OPEN-ECONOMY AND THE WORLD-ECONOMY - A TEXTBOOK IN INTERNATIONAL ECONOMICS - WILLIAMSON,J'. JOURNAL OF DEVELOPMENT STUDIES, 20 (2), pp. 280-281.
  • Bird G. (1984) 'Recycling and OPEC The need for new instruments'. Energy Policy, 12 (1), pp. 33-45.

    Abstract

    One of the repercussions of the increasing price of oil in the 1970s was an increase in the size of balance of payments disequilibria throughout the world, and a rise in the need for recycling. The mechanisms through which this has been achieved are deficient in a number of ways. The introduction of a new recycling instrument - a long-term bond with the rate of interest index linked to the rate of inflation denominated in SDRs and issued by groups of developing country borrowers - would have advantages for both borrowers and leaders, would give greater stability to the international financial system, and would enhance economic development. © 1984.

  • Bird GR. (1983) 'Reforming the Fund: The Future of the International Monetary Fund in the International Financial System'. Three Banks Review, , pp. 3-21.
  • Bird GR. (1983) 'The Banks and the IMF: Division of Labour'. Lloyds Bank Review, , pp. 19-33.
  • Bird GR. (1983) 'Low Income Countries and International Financial Reform'. Journal of Developing Areas, , pp. 53-76.
  • Bird GR. (1983) 'Interest Rate Subsidies on International Finance as a Means of Assisting Low Income Countries'. World Development, , pp. 515-525.
  • Bird G. (1983) 'The banks and the IMF - division of labour.'. Lloyds Bank Review, 150, pp. 19-33.

    Abstract

    Investigates the relationship between two of the principal actors in recent debt crisis. Because of scale economies, data collection by the IMF is favoured, but in international banking, exernalities pose a potentially serious problem and the fund might be able to 'read' the situation better than the individual banks. Recycling mechanisms adopted in the 1970s and 1980s are described. Awareness of the problem has stimulated proposals for reform involving direct cooperation between the IMF and the banks as well as the alternative of indirect cooperation. Since the two institutions have contrasting objectives the scope for close and direct collaboration is severely limited, though activities could be better coordinated to their mutual advantage.-D.G.Price

  • BIRD G. (1983) 'THE NEWLY INDUSTRIALIZING COUNTRIES - TRADE AND ADJUSTMENT - TURNER,L, MCMULLEN,N'. INTERNATIONAL AFFAIRS, 59 (3), pp. 472-473.
  • Bird GR. (1983) 'Low Income Countries as a Special Case in the International Financial System: An Analysis of Some Proposals for Reform'. Economic Notes, 2, pp. 5-20.
  • Bird G. (1983) 'Should Developing Countries Use Currency Depreciation as a Tool of Balance of Payments Adjustment? A Review of the Theory and Evidence, and a Guide for the Policy Maker'. The Journal of Development Studies, 19 (4), pp. 461-484.

    Abstract

    The use of currency depreciation as a means of strengthening the balance of payments has long been a contentious issue amongst developing countries, especially in their negotiations with the IMF. This article reviews the various ways in which depreciation might exert its impact. A study of the empirical evidence suggests that it may be both an effective and cost effective instrument in many developing countries, even though exceptions do exist. Compared with alternative balance of payments policies, use of the exchange rate emerges as possessing many advantages. It is concluded that greater emphasis should be placed on the exchange rate in the context of IMF programmes than has perhaps been the case in recent years. © 1983, Taylor & Francis Group, LLC. All rights reserved.

  • Bird G. (1983) 'The International Monetary Fund and developing countries: Retrospect and prospect'. De Economist, 131 (2), pp. 161-195.

    Abstract

    The relationship between the IMF and its developing country members has been the subject of considerable debate over recent years. At the heart of this debate has been the issue of IMF conditionality and its appropriateness to developing countries. Having examined the importance of the IMF as a source of finance to developing countries this paper goes on to review IMF conditionality and to suggest certain ways in which it might be modified. It is concluded that the Fund is potentially of great significance to developing countries, particularly in the current world economic environment, and that its activities should be extended. © 1983 H.E. Stenfert Kroese B.V.

  • Bird G. (1983) 'Interest rate subsidies on international finance as a means of assisting low-income countries'. World Development, 11 (6), pp. 515-525.

    Abstract

    Many of the conventional ways of using the international financial system as a mechanism for making resource transfers to developing countries require quite fundamental restructuring of that system. Furthermore the relevance of the most notorious plan - the SDR-aid link - has been reduced by the increase in the rate of interest on SDR net use and by the insignificant proportion of reserve growth accounted for by SDRs. The use of interest rate subsidies on IMF finance, in conjunction with reforms to Fund conditionality, offers one practical way of providing an albeit small amount of financial assistance to low income countries. Analysis suggests that such subsidies represent an attractive form of aid and may enhance international financial efficiency. © 1983.

  • BIRD G. (1983) 'REFORMING THE FUND - THE FUTURE-ROLE OF THE INTERNATIONAL-MONETARY-FUND IN THE INTERNATIONAL FINANCIAL-SYSTEM'. THREE BANKS REVIEW, (140), pp. 3-21.
  • Bird G. (1983) 'Low-income countries and international financial reform.'. Journal of Developing Areas, 18 (1), pp. 53-75.

    Abstract

    Looks at implications of the size and nature of the balance of payments problem for low income countries. Such problems are unlikely to disappear, or to be dealt with adequately by the private sector. The theory of optimal international reserves suggests that low income countries need more reserves, though the distinction between development finance and balance of payments is often difficult to maintain. Correcting balance of payments and encouraging development becomes interwoven. Given this importance of balance of payments, the provision of payments financing and adjustment within the international financial system is considered.-B.W.Beeley

  • Bird GR. (1982) 'A Role for the International Monetary Fund in Economic Development'. Banca Nazionale del Lavoro Quarterly Review, , pp. 427-451.
  • Bird GR. (1982) 'Is the SDR Link Still Relevant for Developing Countries?'. The Banker, , pp. 63-69.
  • Bird G. (1982) 'Conditionality and the needs of developing countries'. Intereconomics, 17 (1), pp. 32-36.

    Abstract

    The principal cause of the balance of payments deficits of the non-oil developing countries has altered since 1973: exogenous factors now play a far more important role than previously. The appropriateness of the conditions conventionally attached to IMF drawings needs to be re-examined in this light. © 1982 HWWA and Springer-Verlag.

  • Bird GR. (1982) 'IMF Conditionality and the Needs of Developing Countries'. January-February Edition. Intereconomics, , pp. 32-42.
  • BIRD G. (1982) 'INTERNATIONAL FINANCIAL COOPERATION - A FRAMEWORK FOR CHANGE - STEWART,F, SENGUPTA,A'. INTERNATIONAL AFFAIRS, 58 (4), pp. 686-687.
  • Bird GR. (1982) 'Towards a New International Economic Order? Progress Report and Prognosis'. ODI Review, 2, pp. 57-64.
  • BIRD G. (1982) 'THE THEORY OF COMMODITY PRICE STABILIZATION - A STUDY IN THE ECONOMICS OF RISK - NEWBERRY,DMG, STIGLITZ,JE'. THIRD WORLD QUARTERLY, 4 (4), pp. 796-798.
  • Bird GR. (1981) 'SDR Distribution, Interest Rates and Aid Flows'. The World Economy, , pp. 419-427.
  • Bird G, Gutmann P. (1981) 'Foreign aid - the issues ( financial flows).'. National Westminster Bank, Quarterly Review, (August 1981), pp. 36-51.

    Abstract

    Focuses on the rationale of aid policy in relation to economic and political arguments, but other relevant topics are briefly examined including the main characteristics of foreign aid, its place in the overall pattern of financial flows to devloping countries, and recent trends among major country groups as donors and recipients. -from Authors

  • Bird GR. (1981) 'Reserve Currency Consolidation, Gold Policy and Financial Flows to Developing Countries: Mechanisms for an Aid Augmented Substitution Account'. World Development, , pp. 609-619.
  • BIRD G. (1981) 'FINANCING BALANCE OF PAYMENTS DEFICITS IN DEVELOPING-COUNTRIES - THE ROLES OF OFFICIAL AND PRIVATE SECTORS AND THE SCOPE FOR COOPERATION BETWEEN THEM'. THIRD WORLD QUARTERLY, 3 (3), pp. 473-488.
  • Bird GR. (1981) 'Developing Country Finances: Present and Future'. Futures, , pp. 191-205.
  • Bird GR. (1981) 'Financial Flows to Developing Countries: The Role of the International Monetary Fund'. Review of International Studies, , pp. 91-105.
  • BIRD G. (1981) 'SDR DISTRIBUTION, INTEREST-RATES AND AID FLOWS'. WORLD ECONOMY, 4 (4), pp. 419-427.
  • BIRD G. (1981) 'THE BALANCE OF PAYMENT ADJUSTMENT PROCESS IN DEVELOPING-COUNTRIES - DELL,S, LAWRENCE,R'. INTERNATIONAL AFFAIRS, 57 (2), pp. 329-330.
  • Bird GR. (1981) 'Acerca del uso de la reforma monetaria internacional en beneficio de los paises en deserrollo'. September-December Edition. Economica, , pp. 143-161.
  • Bird GR. (1981) 'On Using International Monetary Reform for the Benefit of Developing Countries'. Economic Notes, 1, pp. 29-45.
  • BIRD G, GUTMANN P. (1981) 'FOREIGN-AID - THE ISSUES'. NATIONAL WESTMINSTER BANK QUARTERLY REVIEW, (AUG), pp. 36-51.
  • BIRD G. (1981) 'A POSITIVE APPROACH TO THE INTERNATIONAL ECONOMIC ORDER .2. NON-TRADE ISSUES - MACBEAN,A, BALASUBRAMANYAN,VN'. INTERNATIONAL AFFAIRS, 57 (1), pp. 129-129.
  • BIRD G. (1981) 'DEVELOPING-COUNTRY FINANCES, PRESENT AND FUTURE'. FUTURES, 13 (3), pp. 191-205.
  • Bird G, Orme T. (1981) 'An analysis of drawings on the international monetary fund by developing countries'. World Development, 9 (6), pp. 563-568.
  • BIRD G. (1981) 'THE CONTROVERSIAL ECONOMICS OF THE BRANDT REPORT'. IDS BULLETIN-INSTITUTE OF DEVELOPMENT STUDIES, 12 (2), pp. 69-71.
  • Bird G. (1981) 'Reserve currency consolidation, gold policy and financial flows to developing countries: Mechanisms for an aid-augmented substitution account'. World Development, 9 (7), pp. 609-619.

    Abstract

    This article examines various ways in which the consolidation of reserve currencies through the operation of a Substitution Account may be used to generate additional financial flows to developing countries. Minimum reference is made to current plans and developments and attention is instead focussed on the principal underlying issues. Section 1 describes the basic purpose of a Substitution Account and attempts to put this into the general context of international monetary reform. Section 2 catalogues the central problems that are associated with reserve currency consolidation and illustrates the range of differing versions of a Substitution Account that are available. Section 3 examines various ways in which an Account might be constructed to induce a flow of financial resources to developing countries, while Section 4 attempts to quantify the size of these flows. Section 5 demonstrates how the principle of substitution might also be applied to gold. Section 6 examines the likely acceptability of the various proposals discussed in this paper. © 1981.

  • Bird GR, Killick T. (1981) 'The IMF and Developing Countries'. Winter Edition. Development Research Digest, 6
  • Bird GR. (1980) 'The International Monetary Fund as a Source of International Finance for Developing Countries: A Critical Appraisal'. Indian Journal of Economics, , pp. 93-442.
  • BIRD G. (1980) 'COMMERCIAL BORROWING BY LESS DEVELOPED-COUNTRIES'. THIRD WORLD QUARTERLY, 2 (2), pp. 270-282.
  • Bird G. (1980) 'Why a new International Development Organisation is needed'. Intereconomics, 15 (4), pp. 185-187.

    Abstract

    The present arrangements for providing developing countries, and in particular the least developed countries, with international finance are inadequate in both quantitative and qualitative terms. Fundamental changes seem necessary. These changes might incorporate the establishment of a new International Development Organisation (IDO). Such an organisation could be financed in a way which does not conflict with the current consensus on international monetary reform. © 1980 HWWA and Springer-Verlag.

  • Bird GR. (1980) 'Order and Disorder in International Monetary Arrangements: A Perspective on the 1970s'. Spring Edition. Economics, , pp. 8-11.
  • BIRD G. (1980) 'SOME PROPOSALS FOR INCREASING THE SIZE AND IMPROVING THE NATURE OF FINANCIAL FLOWS TO DEVELOPING-COUNTRIES'. RIVISTA INTERNAZIONALE DI SCIENZE ECONOMICHE E COMMERCIALI, 27 (10-1), pp. 1038-1054.
  • Bird GR. (1980) 'Beyond the Brandt Report: A Strategy for World Economic Development'. Spring Edition. Millennium: journal of international studies, , pp. 55-66.
  • BIRD G. (1980) 'INTERNATIONAL INDEBTEDNESS AND THE DEVELOPING-COUNTRIES - ABBOTT,GC'. INTERNATIONAL AFFAIRS, 56 (1), pp. 129-129.
  • Bird GR. (1980) 'The Brandt Report and Economic Theory'. Winter Edition. Economics, , pp. 105-106.
  • Bird GR. (1980) 'The Mix Between Adjustment and Financing: Geometrical Presentations of Factors Affecting the Different Choices Made by Developed and Developing Countries'. April-June Edition. Indian Economic Review, , pp. 155-164.
  • Bird GR. (1980) 'Some Proposals for Increasing the Size and Improving the Nature of Financial Flows to Developing Countries'. October-November Edition. International Review of Economics and Business, , pp. 1038-1054.
  • Bird GR. (1980) 'Financing Economic Development: Why a New International Development Organization is Needed'. July/August Edition. Intereconomics, , pp. 185-187.
  • Bird GR. (1979) 'The Terms of Trade of Developing Countries: Theory, Evidence and Policy'. Economia Internazionale, , pp. 399-413.
  • Bird GR. (1979) 'An Integrated Programme for Finance and Aid'. The Banker, , pp. 87-93.
  • Bird GR. (1979) 'An Integrated Programme for Finance and Aid'. Dossier 8 Edition. International Foundation for Development Alternatives,
  • Bird G. (1979) 'The benefits of special drawing rights for less developed countries'. World Development, 7 (3), pp. 281-290.

    Abstract

    Special Drawing Rights (SDRs) have existed for almost 10 years. This paper examines the implications of the SDR facility for LDCs. First, it is shown that the distribution formula for SDRs may be inappropriate. Second, the paper documents the way in which LDCs have used their allocated SDRs. Third, an attempt is made to estimate approximately the value of the benefits derived by LDCs from the SDR scheme. It is shown that the scheme could have been modified to yield further benefits for LDCs. © 1979.

  • Bird GR. (1979) 'IMF Quotas, Conditionality and the Developing Countries'. ODI Review, 2, pp. 57-71.
  • Bird GR. (1979) 'Buffer Stocks: The Cases For and Against'. 2nd Edition. Economic Notes, , pp. 106-111.
  • Bird GR. (1979) 'Devaluation versus Monetary Contraction as Appropriate Balance of Payments Policy in Less Developed Countries'. Indian Journal of Economics,
  • Bird GR. (1979) 'The Choice of Exchange Rate Regime by Developing Countries'. Philippine Economic Journal, 39, pp. 148-162.
  • Bird GR. (1978) 'The Choice between Balance of Payments Adjustment and Financing: A Graphical Exposition'. Malayan Economic Review, , pp. 16-20.
  • Bird GR. (1978) 'An Analysis of the Welfare Gains from Special Drawing Rights'. August November Edition. Economia Internazionale, , pp. 177-185.
  • Bird GR. (1978) 'Special Drawing Rights: Ten Years On'. Winter Edition. Economics, , pp. 110-111.
  • BIRD G. (1978) 'CHOICE BETWEEN BALANCE OF PAYMENTS ADJUSTMENT AND FINANCING - GRAPHICAL EXPOSITION'. MALAYAN ECONOMIC REVIEW, 23 (2), pp. 16-20.
  • Bird GR. (1977) 'Less Developed Countries and the Reform of the International Monetary System'. ODI Review, 1, pp. 68-91.
  • Bird GR. (1977) 'International Liquidity and the Developing Countries'. Economic Notes, 6 Article number 1 , pp. 77-88.
  • Bird GR. (1976) 'The Informal Link between SDR Allocation and Aid'. Journal of Development Studies, , pp. 268-273.
  • BIRD G. (1976) 'ROLE OF SDRS IN FINANCING COMMODITY STABILIZATION'. JOURNAL OF WORLD TRADE, 10 (4), pp. 371-379.
  • Bird GR. (1976) 'The Role of SDRs in Financing Commodity Stabilization'. July August Edition. Journal of World Trade Law, , pp. 371-379.
  • BIRD G. (1976) 'INFORMAL LINK BETWEEN SDR ALLOCATION AND AID - NOTE'. JOURNAL OF DEVELOPMENT STUDIES, 12 (3), pp. 268-273.
  • Bird GR. (1975) 'Primary Product Price Instability: A Proposal for Financing Stabilization Schemes'. Economic Notes, 4 Article number 2 , pp. 63-72.
  • Maynard G, Bird G. (1975) 'International monetary issues and the developing countries: a survey'. World Development, 3 (9), pp. 609-631.

    Abstract

    This review of the academic and official literature relating to international monetary issues and the developing countries concentrates on three matters: the appropriateness of conventional fiscal, monetary and exchange-rate measures for balance-of-payments adjustment in developing countries; the need of developing countries for international liquidity and the adequacy of supply to them; and the monetary legitimacy and technique of linking international liquidity creation and development aid. It describes the opportunity which the breakdown of the Bretton Woods system in 1971, and the subsequent establishment of the Committee of Twenty, have provided for developing countries to have a voice in international monetary affairs; and it indicates a number of areas for further research and study at the policy level. © 1975.

  • Bird GR. (1974) 'The Liquidity Aid Link and the Maintenance of Full Employment and Balance of Payments Equilibrium in Developed Countries'. Economic Notes, 3 Article number 3 , pp. 157-163.
  • Bird GR. (1973) 'Some Approaches to the Simultaneous Achievement of Both Internal and External Balance'. Summer Edition. Economics, , pp. 329-348.
  • Bird GR, Milner D. (1972) 'Inflation and the Real Mortgage Effect'. Banker's Magazine, , pp. 241-243.
  • Bird GR. (1972) 'The Dollar Crisis and Settlement in Perspective'. Spring Edition. Economics, , pp. 38-42.

Books

  • Bird GR, Rowlands D. (2014) The IMF and the Challenges of Globalization.. Edward Elgar Publishing
  • Bird GR. (2014) How the World Economy Works: Essays in International Monetary Economics.. Edward Elgar Publishing
    [ Status: In preparation ]
  • Bird GR, Rowlands D. (2007) The International Monetary Fund and the World Economy, International Library of Critical Writings in Economics Series Vol 2. Edward Elgar Publishing
  • Bird GR, Rowlands D. (2007) The International Monetary Fund and the World Economy, International Library of Critical Writings in Economics Series Vol 1. Edward Elgar Publishing
  • Bird GR. (2006) An Introduction to International Macroeconomics: A Primer on Theory, Policy and Applications. Palgrave Macmillan

    Abstract

    The main purpose of this book is to show the relevance of international macroeconomics to understanding the world economy. It provides a succinct summary of open economy macroeconomics from a theoretical perspective and analyzes policy covering the balance of payments, exchange rates, capital flows and the co-ordination of macroeconomic policy.

  • Bird GR. (2003) International Finance and The Developing Economies. Palgrave Macmillan

    Abstract

    Relatively few years ago, a discussion of international financial affairs could have by-passed the problems of developing and emerging economies. This is no longer the case. Many issues and challenges face these economies, including financial crises, capital flows and the financing of development, capital volatility and the liberalisation of the capital account of the balance of payments, foreign aid, external debt, the role of the IMF and other international financial institutions, macroeconomic stabilisation and adjustment, economic liberalisation and the choice of exchange rate regime. Analysis of these issues is frequently scattered across several books and articles. In International Finance and the Developing Economies, renowned economist Graham Bird collects together a selection of his work to provide a comprehensive review of the questions and the policy options that confront those involved in reforming the international monetary system.

  • Bird GR. (2003) The IMF and the Future: Issues and Options Facing the Fund. Routledge
  • Bird GR, Rajan R. (2002) The Evolving Asian Financial Architecture. 226 Edition.
  • Bird GR. (1998) International Macroeconomics: Theory, Policy, and Applications. Palgrave Macmillan
  • Bird GR, Killick T. (1995) The Bretton Woods Institutions: A Commonwealth Perspective. Commonwealth Secretariat
  • Bird GR. (1995) IMF Lending to Developing Countries: Issues and Policies. Routledge
  • Bird GR, Snowden N. (1995) Classical Writings in Economics: International Debt, Vols. I. Edward Elgar Publishing
  • Bird GR, Snowden N. (1995) Classical Writings in Economics: International Debt, Vols. II. Edward Elgar Publishing
  • Bird GR. (1994) Latin America’s Economic Future?. Academic Press
  • Bird GR. (1994) Economic Assistance to Low Income Countries: Should the Link be Resurrected?. 193 Edition. Princeton University,
  • Bird GR. (1992) International Aspects of Economic Development. Surrey University Press with Academic Press
  • Bird GR. (1992) Economic Reform in Eastern Europe. Edward Elgar Publishing
  • Bird GR. (1991) The International Co-ordination of Macroeconomic Policy. Edward Elgar Pub
  • Bird GR. (1991) Contemporary Issues in Applied Economics. Edward Elgar Publishing
  • Bird GR. (1990) The International Financial Regime. Surrey University Press with Academic Press
  • Bird GR. (1989) Loan Loss Provisions and Third World Debt. 176 Edition. Princeton University
  • Bird GR. (1989) Third World Debt: The Search for a Solution. Edward Elgar Publishing
  • Bird GR. (1989) Commercial bank lending and Third-World debt. Macmillan
  • Bird GR. (1988) Managing Global Money: Essays in International Financial Economics. Macmillan
  • Bird GR. (1987) International Financial Policy and Economic Development: A Disaggregated Approach. Macmillan
  • Bird GR. (1985) World Finance and Adjustment: An Agenda for Reform. Macmillan
  • Bird GR, Killick T, Sharpley J, Sutton M. (1984) The Quest for Economic Stabilisation: The IMF and the Third World. Heinemann
  • Bird GR. (1982) Recycling International Finance: An Appraisal and Proposals for Reform. Societe Universitaire Europeenne de Recherches Financiere
  • Bird GR. (1982) The International Monetary System and the Less Developed Countries. Macmillan

Book chapters

  • Bird GR. (2010) 'The World’s Liquidity Arrangements: the Easiest Item on a Holistic Agenda for International Monetary Reform'. in Volz U, Caliari A (eds.) Regional and Global Liquidity Arrangements German Development Institute
  • Bird GR. (2009) '‘Debt Relief in Low Income Countries: Background, Evolution and Effects'. in Boughton JM, Lombardi D (eds.) Finance, Development, and the IMF Oxford University Press
  • Bird GR. (2009) 'Financier or Facilitator: The Changing Role of the IMF in Low Income Countries'. in Boughton JM, Lombardi D (eds.) Finance, Development, and the IMF Oxford University Press
  • Bird GR, Rowlands D. (2006) 'What Determines IMF Arrangements?'. in Paloni A, Zanardi M (eds.) IMF, World Bank and Development Routledge
  • Bird GR, Rowlands D. (2006) 'The Demand for IMF Assistance: What Factors Influence the Decision to Turn to the Fund?'. in Vreeland J, Ranis G, Kosack S (eds.) Globalisation and the Nation State: the Impact of the IMF and the World Bank , pp. 231-262.
  • Bird GR, Mosley P. (2006) 'Should the IMF Discontinue Its Long Term Lending Role in Developing Countries?'. in Ranis G, Kosack S, Vreeland J (eds.) Globalisation and the Nation State: the Impact of the IMF and the World Bank , pp. 378-403.
  • Bird GR. (2005) 'Evolution in Macroeconomics: Principles, Policy and Performance'. in Roy RK, Denzau AT, Willett TD (eds.) Neoliberalism: National and Regional Experiments with Global Ideas Routledge
  • Bird GR. (2005) 'The IMF and Poor Countries: Towards a More Fulfilling Relationship'. in Akkerman A, Teunissen J (eds.) Helping the Poor? The IMF and Low Income Countries FONDAD , pp. 16-61.
  • Bird GR, Mosley P. (2004) 'The IMF's Role in Developing Countries''. in Gilbert CL, Vines D (eds.) The IMF and International Financial Architecture Cambridge University Press , pp. 288-315.
  • Bird GR, Rowlands D. (2003) 'The Catalysing Role of Policy Based Lending by the IMF and the World Bank: Fact or Fiction.'. in Das DK (ed.) An International Finance Reader Psychology Press
  • Bird GR. (1994) 'Latin America's Balance of Payments: Pessimism or Cautious Optimism?'. in Bird GR (ed.) Latin America's economic future Academic Pr
  • Bird GR. (1993) 'Does the World still need the IMF?'. in Murshed SM, Raffer K (eds.) Trade, transfers, and development Edward Elgar Publishing
  • Bird GR, Bird H. (1992) 'Economic Reforms in Eastern Europe: Central Issues in the Move to Market Economies’'. in Bird GR (ed.) Economic reform in Eastern Europe Edward Elgar Publishing
  • Bird GR. (1992) 'International Aspects of Economic Development: A Contextual Introduction'. in Bird G, Bird GR (eds.) International aspects of economic development Academic Press
  • Bird GR. (1992) 'The Bretton Woods Institutions and Developing Countries: Analysing the Past and Anticipating the Future'. in Bird GR (ed.) International aspects of economic development Academic Press
  • Bird GR. (1991) 'The Third World Debt Crisis: Causes and Cures’'. in Bird GR, Bird H (eds.) Contemporary Issues in Applied Economics Edward Elgar Pub
  • Bird GR. (1990) 'The International Financial Regime and the Developing World’'. in Bird GR (ed.) The International financial regime Academic Press
  • Bird GR. (1990) 'The International Financial Regime'. in Bird GR (ed.) The International financial regime Academic Press
  • Bird GR. (1990) 'Evaluating the Effects of IMF-Supported Programmes: An Analytical Commentary on the Empirical Evidence’'. in Phylaktis K, Pradhan M (eds.) International finance and the less developed countries Macmillan
  • Bird GR. (1989) 'World Debt, Financing, Structural Adjustment and the Official Sector'. in Singer HW, Sharma S (eds.) Economic development and world debt Macmillan
  • Bird GR. (1989) 'The Changing International Economic Order and the Interests of Developing Countries'. in Thomas C, Saravanamuttu P (eds.) Conflict and Consensus in South/North Security Cambridge University Press
  • Bird GR. (1989) 'Introduction'. in Bird GR (ed.) Third World Debt: The Search for a Solution Edward Elgar Publishing
  • Bird GR. (1989) 'Strategic Plans or Muddling Through: The Generics of Third World Debt Policy’'. in (ed.) Third World Debt: The Search for a Solution Edward Elgar Publishing
  • Bird GR. (1988) 'The Developing World: Does it Constitute a Special Case in the International Financial System?'. in Singer HW, Hatti N, Tandon R (eds.) Resource transfer and debt trap Asish Publishing
  • Bird GR. (1987) 'Balance of Payments Adjustment and Financing in Developing Countries'. in Tandon R, Hatti N, Singer H (eds.) Progress Towards a New International Economic Order: Money and Finance Ashish Publishing
  • Bird GR. (1987) 'The Keynes Plan and the Developing Economies’'. in Thirlwall AP (ed.) Keynes and Economic Development Macmillan
  • Bird GR. (1987) 'Commodity Price Stabilisation and International Financial Policy'. in Singer HW, Hatti N, Tandon R (eds.) International commodity policy Ashish Publishing
  • Bird GR. (1985) 'Adjustment and the Balance of Payments'. in Healey DT (ed.) Structural Adjustment in Developing Countries John Hopkins University Press
  • Bird GR, Killick T. (1985) 'Balance of Payments Management: The Third World and the IMF'. in Tsoukalis L (ed.) The Political Economy of International Money: In Search of a New Order Sage
  • Bird GR, Killick T, Sharpley J, Sutton M. (1984) 'The IMF: Case for a Change in Emphasis'. in Kallab V, Feinberg R (eds.) Adjustment Crisis in the Third World, US Third World Policy Perspectives Overseas Development Council
  • Bird GR. (1982) 'Developing Country Interests in Proposals for International Monetary Reform'. in Killick T (ed.) Adjustment and Financing in the Developing World IMF/ODI
  • Bird GR. (1981) 'International Monetary issues and the Developing Countries: A Postscript to the Survey'. in Jolly R, Streeten P (eds.) Issues in World Development Pergamon
  • Bird GR, Maynard G. (1976) 'The Contribution of Government to Inflation in OECD Countries'. in Maynard G, Ryckeghem WV (eds.) A world of inflation B. T. Batsford Limited

Graham Bird’s publications, March, 2013

Books and Monographs

The International Monetary Fund and the World Economy, International Library of Critical Writings in Economics Series, (Two Volumes) Edward Elgar Publishing (joint editor with Dane Rowlands), 2007, pp 563 (Vol. 1) and 548 (Vol. 2).

An Introduction to International Macroeconomics: Theory, Policy and Applications, Palgrave, 2007.

International Finance and the Developing Economies, Palgrave, 2004, 312pp.

The IMF and the Future: Issues and Options Facing the Fund, Routledge, 2003, 299pp.

The Evolving Asian Financial Architecture, Essays in International Economics, No 226, Princeton University, February 2002, 60pp (with Ramkishen Rajan).

International Macroeconomics: Theory, Policy and Applications, Macmillan, 1998, 171pp (first edition 1987).

The Bretton Woods Institutions: A Commonwealth Perspective, Commonwealth Secretariat Monograph, 1995, 36pp (with Tony Killick).

Classical Writings in Economics: International Debt, Vols. I and II, Edward Elgar, 1995, 533pp and 385pp (joint editor with Nicholas Snowden).

IMF Lending to Developing Countries: Issues and Policies, Routledge, 1995, 208pp.

Economic Assistance to Low Income Countries: Should the Link be Resurrected?, Essays in International Finance, No. 193, Princeton University, July 1994, 29pp.

Latin America’s Economic Future?, Academic Press, Spring 1994, 339pp (joint contributing editor).

International Aspects of Economic Development, Surrey University Press with Academic Press, 1992, 250pp (contributing editor).

Economic Reform in Eastern Europe, Edward Elgar, 1992, 187pp (contributing editor).

Contemporary Issues in Applied Economics, Edward Elgar, 1991, 288pp (joint contributing editor).

The International Financial Regime, Surrey University Press with Academic Press, 1990, 343pp (contributing editor).

Third World Debt: The Search for a Solution, Edward Elgar, 1989, 239pp (contributing editor).

Loan Loss Provisions and Third World Debt, Essays in International Finance, No.176, Princeton University, November 1989, 30pp.

Commercial Bank Lending and Third World Debt, Macmillan, 1989, 149pp.

Managing Global Money: Essays in International Financial Economics, Macmillan, 1988, 304pp.

International Financial Policy and Economic Development: A Disaggregated Approach, Macmillan, 1987, 348pp.

World Finance and Adjustment: An Agenda for Reform, Macmillan, 1985, 353pp.

The Quest for Economic Stabilisation: The IMF and the Third World, Heinemann, 1984, 340pp (with Tony Killick, Jennifer Sharpley and Mary Sutton).

The International Monetary System and the Less Developed Countries, Macmillan, 1982, 352pp (first edition 1978).

Recycling International Finance: An Appraisal and Proposals for Reform, Société Universitaire Européene de Recherches Financières, Series 36A, 1982, 28pp.

 

Articles in Refereed Academic Journals

‘Fiscal Imbalances and Output Crises in Europe: Will the Fiscal Compact Help or Hinder?’ Journal of Economic Policy Reform, 16 (1), 2013, pp 1-16, (with Alex Mandilaras).

‘The Collapse of Consensus: the Contemporary Confusion over Macroeconomic Policy,’ World Economics, 14 (1), 2013, pp 141-152.

‘Dealing with Global Economic Imbalances: the Political Economy of Policy Coordination,’ Global Economic Review, 41 (4), 2012, pp 299-317.

‘Is There a Beijing Consensus on International Macroeconomic Policy?’ World Development, 40 (10), 2012, pp 1933-1943, (with Alex Mandilaras and Helen Popper).

‘Breaking Up Is Hard to Do:  the Eurozone and the Political Economy of Monetary Disintegration,’ World Economics, 13 (3), 2012, pp 1-12.

‘Managing Capital Surges,’ World Economics, 13 (1), 2012, pp 173-188.

‘Currency Wars: Rhetoric and Reality,’ World Economics, 12 (4), 2011, pp 121-136 (with Thomas Willett).

‘Prospects for the Evolution of Global Reserves,’ World Economics, 12 (3), 2011, pp 191-212.

‘Fault Lines and Fractures Threatening the World Economy,’ World Economics, 12 (3), 2011, pp 219-224.

‘The G20 After the Seoul Summit: G Force or G String,’ World Economics, 12 (1), 2011, pp 193-202.

‘Once Bitten: The Effects of IMF Programs on Subsequent Reserve Behavior,’ Review of Development Economics, 15 (2), 2011, pp 264 -278 (with Alex Mandilaras).

‘The IMF and the Challenges it Faces,’ World Economics, 11 (4), 2010, pp 131 – 156 (with Dane Rowlands).

‘The Episodic and Unpredictable Nature of IMF Lending: An Empirical Analysis,’ The World Economy, 33 (10), 2010, pp 1280 – 1301 (with Dane Rowlands).

‘A Markov Switching Analysis of Contagion in the EMS,’ Journal of International Money and Finance, 29 (6), 2010, pp 1062 – 1075 (with Alex Mandilaras).

‘The Eurozone: What Now?’ World Economics, 11 (3), 2010, pp 41-59.

‘Revisiting Mrs. Machlup’s Wardrobe: The Accumulation of International Reserves, 1992-2001,’ Applied Economics Letters, 17 (5), 2010, pp 467-471 (with Alex Mandilaras).

‘Special Drawing Rights: How Fashions Change,’ World Economics, 11 (1) 2010, pp 83-98.

‘Aid and Debt Relief in Africa: Have They Been Substitutes or Complements?’ World Development, 38 (3) 2010, pp 219-227 (with Robert Powell).

‘The SDR Aid Link: It’s Now or Never,’ Development Policy Review, 28 (1) 2010, pp 63-74.

‘Exchange Rate Regimes in Developing and Emerging Economies and the Incidence of IMF Programs,’ World Development, 37 (12) 2009, pp 1839-1848 (with Dane Rowlands).

‘A Disaggregated Empirical Analysis of the Determinants of IMF Arrangements: Does One Model Fit All?’ Journal of International Development, 21, 2009, pp 915-931 (with Dane Rowlands).

‘The IMF’s Role in Mobilizing Private Capital Flows: Are There Grounds for Catalytic Conversion?’ Applied Economics Letters, 16 (17) 2009, 1705-1708 (with Dane Rowlands).

‘Reforming IMF Conditionality: From Streamlining to Major Overhaul,’ World Economics, 10 (3) 2009, pp 81-104.

‘So Far So Good, But Still Some Missing Links: A Report Card on the G20 London Summit,’ World Economics, 10 (2) 2009, pp 1-10.

‘The Dangers of Déjà Vu Economics,’ World Economics, 10 (1) 2009, pp 157-166

‘Why Do Governments Delay Devaluation: The Political Economy of Exchange Rate Inertia,’ World Economics, 9 (4) 2008, pp 55-74 (with Thomas D. Willett).

‘Turkey and the IMF: A Case Study in the Political Economy of Policy Implementation,’ Review of International Organizations, 4 (2) 2009, pp135-157 (with Ozlem Arpac).

‘Unwinding Global Economic Imbalances: What’s Growth Got to Do with It?’ World Economics, 9 (3), 2008, pp 211-215.

‘Global Imbalances and the Lessons of Bretton Woods: A Review Essay,’ World Economics, 9 (3), 2008, pp 229-233 (with Thomas D. Willett).

‘Catalyzing Private Capital Flows and IMF Programs: Some Remaining Questions,’ Journal of Economic Policy Reform, 11 (1), 2008, pp 37-43 (with Dane Rowlands).

‘Foreign Exchange Pressures in Latin America: Does Debt Matter?’ Journal of International Development, 20 (5), 2008, pp 613-627 (with Alex Mandilaras).

‘Stop Interrupting: An Empirical Analysis of the Implementation of IMF Programs,’ World Development, 36 (9), 2008, pp1493-1513 (with Ozlem Arpac and Alex Mandilaras).

‘International Terrorism: Causes, Consequences and Cures,’ The World Economy, 31 (2), 2008, pp 255-74 (with S. Brock Blomberg and Gregory Hess).

‘The Implementation of IMF Programs: A Conceptual Framework,’ Review of International Organizations, 3 (1), 2008, pp 41-64.

‘Multilateral Surveillance: Is the IMF Shooting for the Stars?’ World Economics, 8 (4), 2007, pp.167-189 (with Thomas D. Willett).

'Should It Be Curtains for Some of the IMF's Lending Windows?' Review of International Organizations, 2 (3), 2007, pp 281-299 (with Dane Rowlands).

‘The IMF: A Bird’s Eye View of Its Role and Operations,’ Journal of Economic Surveys, 21 (4) 2007, pp 683- 745.

‘The IMF and the Mobilisation of Foreign Aid,’ Journal of Development Studies, 43 (5), 2007, pp 856-870 (with Dane Rowlands).

‘On Solving the World’s Economic Problems by Doing Something Unfashionable,’ World Economics, 8 (2), 2007, pp 119-131.

‘The Political Economy of Sequencing: the Trade and Monetary Components of Regional Integration,’ North American Journal of Economics and Finance, 18, 2007, pp 335 – 341 (with Ramkishen Rajan).

‘Foreign Exchange Markets in South East Asia 1990 – 2004: An Empirical Analysis of Spillovers during Crisis and Non–crisis Periods,’ North American Journal of Economics and Finance, 18, 2007, pp 41-57 (with Alex Mandilaras).

‘Running the IMF: Reducing Political Bias and Increasing Independence,’ World Economics, 7 (4) 2006, pp 111-124.

‘Regional Heterogeneity in the Relationship Between Fiscal Imbalances and Foreign Exchange Market Pressure,’ World Development, 34 (7), 2006, pp 1171-1181 (with Alex Mandilaras).

‘Are Mr.de Rato’s Spectacles Rose Tinted? Globalisation and the IMF’s Medium Term Strategy,’ World Economics, 7, (2), 2006, pp 1 -17.

‘Are We Heading for a Dollar Crisis?’ World Economics, 7 (1), 2006, pp 159 - 174.

‘IMF Quotas: Constructing an International Organization Using Inferior Building Blocks,’ Review of International Organizations, 1 (2), 2006, pp 153 -171 (with Dane Rowlands).

‘Over-Optimism and the IMF,’ The World Economy, 28 (9), 2005, pp 1355 -1373.

‘Reserve Accumulation in Asia: Lessons for the Holistic Reform of the International Monetary System,’ World Economics, 6 (1), 2005, pp 85-99 (with Alex Mandilaras).

‘Precautionary Reserve Holdings in Asia: Examining the Case for a Regional Reserve Pool,’ Asia Pacific Journal of Economics and Business, 9 (1), 2005, pp 21 - 39 (with Ramkishen Rajan and Reza Siregar).

‘Financing Balance of Payments Adjustment: Options in the Light of the Elusive Catalytic Effect’, Comparative Economic Studies, 46, 2004, pp 468-486 (with Dane Rowlands).

‘IMF Conditionality, Implementation and the New Political Economy of Ownership’, Comparative Economic Studies, 46, 2004, pp 423-450 (with Thomas Willett).

‘The IMF Forever: An Analysis of the Prolonged Use of Fund Resources’, Journal of Development Studies, 40 (6), 2004, pp 30-58.

‘Growth, Poverty and the IMF’, Journal of International Development, 16, 2004, pp 621-636.

‘Financial Liberalisation in Southern Africa: An Assessment’, Development Policy Review, 22 (3), 2004, pp 287-307 (with Obert Nyawata).

‘Does the IMF Perform a Catalytic Role? And What If It Doesn’t?’ World Economics, 5 (1), 2004, pp 117-132 (with Dane Rowlands).

‘Does Devaluation Lead to Economic Recovery or Economic Contraction? Theory and Policy with Reference to Thailand’, Journal of International Development, 16, 2004, pp 141-156 (with Ramkishan Rajan).

‘Many Happy Returns: Recidivism and the IMF’ Journal of International Money and Finance, 23, 2004, pp 231-251 (with M. Hussain and J. Joyce).

'Banks, Maturity Mismatches and Liquidity Crises: A Simple Model,’ Economia Internazionale, LV1, 2, 2003, pp 185-192 (with Ramkishen Rajan).

‘Political Economy Influences within the Life Cycle of IMF Programmes,’ The World Economy, 26 (9), 2003, pp 1255-1278 (with Dane Rowlands).

‘Too Much of a Good Thing? The Adequacy of International Reserves in the Aftermath of Crises’, The World Economy, 26 (6), 2003, 873-891 (with Ramkishen Rajan).

‘Viral Spiral? Contagion, Interdependence and Fundamentals in Latin America,’ New Economy 10, (3), September, 2003, pp 181-186 (with Alex Mandilaras).

‘Restructuring the IMF’s Lending Facilities,’ The World Economy, 26 (2), February, 2003, pp 229-245.

‘Debt Relief For Low Income Countries: Is It Effective and Efficient?’ The World Economy, 26 (1), January, 2003, pp 43-59 (with Alistair Milne).

‘The Pattern of IMF Lending: An Analysis of Prediction Failures,’ Journal of Policy Reform, 5, (3), 2002, pp 173-186 (with Dane Rowlands).

‘Will Asian Economies Gain from Liberalizing Trade in Services?’ Journal of World Trade, 26 (6), Dec, 2002, pp 1061-1079 (with Ramkishen Rajan).

‘Regional Arrangements for Providing Liquidity in a Financial Crisis: Developments in East Asia,’ Pacific Review, 15 (3), 2002, pp 359-379 (with Ramkishen Rajan).

‘The Credibility and Signaling Effect of IMF Programmes,’ Journal of Policy Modeling, 24, 2002, pp799-811.

‘Cry for Argentina: Not for its Currency Board,’ New Economy, 9 (3), September, 2002, pp159-165.

‘The Completion Rate of IMF Programmes: What We Know, Don’t Know and Need to Know,’ The World Economy, 25 (6), June, 2002, pp 833-847.

‘Optimal Currency Baskets and the Third Currency Phenomenon: Exchange Rate Policy in Southeast Asia,’ Journal of International Development, 14, 2002, pp1-23 (with Ramkishen Rajan).

‘Do IMF Programmes Have a Catalytic Effect on Other International Capital Flows?’ Oxford Development Studies, 20 (3), 2002, pp 229-249 (with Dane Rowlands).

‘What Difference Does it Make?’ The Global Economic Effects of International Terrorism’, New Economy, 9 (2), 2002, pp 106-112.

‘Does FDI Guarantee the Stability of International Capital Flows? Evidence from Malaysia,’ Development Policy Review, 20, 2, May, 2002, pp191-202 (with Ramkishen Rajan).

'Where Do We Stand on Choosing Exchange Rate Regimes in Developing and Emerging Economies,’ World Economics, 3 (11), 2002, pp 145-167.

'What Happened to the Washington Consensus?' World Economics, 2 (4), 2001, pp 33-51.

‘IMF Lending: How Is It Affected by Economic, Political and Institutional Factors?,’ Journal of Policy Reform, 4 (3), 2001 pp 243-270 (with Dane Rowlands).

‘IMF Programs: Do They Work? Can They Be Made to Work Better?' World Development, 29 (11), 2001, pp 1849-1865.

‘A Suitable Case for Treatment? Understanding the On-going Debate About the IMF,’ Third World Quarterly, 22 (5), 2001, pp 823-848.

‘Still the Weakest Link: the Domestic Financial System and Post-1998 Recovery in East Asia,’ Development Policy Review, 19 (3), 2001, pp 355-366 (with Ramkishen Rajan).

‘Economic Globalization: How Far and How Much Further?’ World Economics, 2 (3), 2001, pp 1-18 (with Ramkishen Rajan).

‘Banks, Financial Liberalisation and Financial Crises in Emerging Markets,’ The World Economy, 24 (7), 2001, pp 889-910 (with Ramkishen Rajan).

‘World Bank Lending and Other Financial Flows: Is There a Connection?’ Journal of Development Studies, 37 (5), 2001 pp 83-103 (with Dane Rowlands).

‘IMF Programmes: Is There a Conditionality Laffer Curve?’ World Economics, 2 (2), 2001, pp 29-49

‘Is Dollarisation a Viable Option for Latin America?’ World Economics, 2 (1), 2001, pp 137-147

‘Conducting Macroeconomic Policy in Developing Countries: Piece of Cake or Mission Impossible?’ Third World Quarterly, 22 (1) 2001, pp 37-49

‘Coping With or Cashing In on Capital Volatility,’ Journal of International Development, 13, 2001, pp 1-24 (with Ramkishen Rajan)

‘Remodelling the Multilateral Financial Institutions,’ Global Governance, 7 (1), 2001, pp 5-93 (with Joseph P. Joyce).

‘Restraining Capital Flows: What Does It Mean?’ Global Economy Quarterly, 1 (2), 2001, pp 57-80 (with Ramkishen Rajan).

‘International Currency Taxation and Exchange Rate Stabilisation in Developing Countries,’ Journal of Development Studies, 37 (3), 2001, pp 21-38 (with Ramkishen Rajan)

‘Catalysis or Direct Borrowing: The Role of the IMF in Mobilising Private Capital,’ The World Economy, 24 (1), 2001, pp 81-98 (with Dane Rowlands).

‘The Catalyzing Role of Policy-Based Lending by the IMF and the World Bank: Fact or Fiction?’ Journal of International Development, 12, 2000, pp 951-973 (with Dane Rowlands).

‘Sins of the Commission: The Meltzer Report on International Financial Institutions,’ World Economics, 1 (3), 2000, pp 17-29.

‘Reforming the IMF: Should the Fund Abandon Conditionality?’ New Economy, 7 (4), 2000, pp 214-218.

‘Debt Relief for Poor Countries: Distinguishing Rhetoric from Reality,’ New Economy, 7 (4), 2000, pp 199-204 (with Alistair Milne).

‘Do the Multilaterals Catalyse Other Capital Flows? A Case Study Analysis,’ Third World Quarterly, 21 (3), 2000, pp 483-503 (with Antonella Mori and Dane Rowlands).

‘Is there a Case for an Asian Monetary Fund?’ World Economics, 11 (2), 2000, pp 135-144 (with Ramkishen Rajan).

‘Reforming the IMF: Long-Term Lessons from Short-Term Crises’, International Review of Economics and Business, 3 (1), 2000, pp 1-24.

‘Time for Tobin?’ New Economy, 6 (4), 1999, pp 229-233 (with Ramkishen Rajan).

‘Crisis Averter, Crisis Lender, Crisis Manager: the IMF in Search of a Systemic Role,’ The World Economy, 22 (7), 1999, pp 955-975.

‘Miracle to Meltdown: A Pathology of the East Asian Financial Crisis,’ Third World Quarterly, 20 (2), 1999, pp 421-438 (with Alistair Milne).

‘Capital Liberalisation: Accounting for Imperfection,’ New Economy, 6 (1), 1999, pp 50-55.

‘How Important is Sound Domestic Macroeconomics in Attracting Capital Inflows to Developing Countries?’ Journal of International Development, 11, 1999, pp 1-26.

‘The Political Economy of Foreign Aid: Fatigue or Regeneration?’ International Review of Economics and Business, 2 (2), 1999, pp 1-24.

‘Convertibility and Volatility: the Pros and Cons of Liberalizing the Capital Account,’ Economic Notes, 27 (2/3), 1998, pp 35-52.

‘The Rise and Fall of the SDR: The Political Economy of an International Reserve Asset,’ Global Governance, 4, 1998, pp 355-379.

‘Foreign Aid: Where Now?’ Economic Review, 16 (1), 1998, pp 12-15.

‘Exchange Rate Policy in Developing Countries: What is Left of the Nominal Anchor Approach?’ Third World Quarterly, 19 (2), 1998, pp 255-276.

‘Dealing with African Debt’, New Economy, 5 (1), 1998, pp 62-67.

‘The Effectiveness of Conditionality and the Political Economy of Policy Reform: Is It Simply a Matter of Political Will?’ Journal of Policy Reform, 1, 1998, pp 89-113.

‘The Catalytic Effect of Lending by the International Financial Institutions’, The World Economy, 20 (7), 1997, pp 967-991 (with Dane Rowlands).

‘External Financing and Balance of Payments Adjustment in Developing Countries: Getting a Better Policy Mix’, World Development, 25 (9), 1997, pp 1409-1420.

‘Can the IMF be Rescued?’ New Economy, 4 (3), 1997, pp 182-187.

‘Can Neo-Liberalism Survive in Latin America?’, Millennium: Journal of International Studies, 26 (1), 1997, pp 31-56 (with Ann Helwege).
         ‘From Banks to Bonds: A Problem Resolved? A Perspective from the LDC Debt Literature’, Journal of International Development, 9 (2), 1997, pp207-220, 1996 (with Nick Snowden).
         ‘Borrowing from the IMF: The Policy Implications of Recent Empirical Research’, World Development, 24 (11), 1996, pp 1753-1760.
‘The IMF and Developing Countries: A Review of the Evidence and Policy Options’, International Organization, 50 (3), 1996, pp 477-512.

‘The Bretton Woods Institutions and the Political Economy of the International Monetary Reform’, The World Economy, 19 (2), 1996, pp 143-147.

‘From Bretton Woods to Halifax and Beyond: The Political Economy of International Monetary Reform’, The World Economy, 19 (2), 1996, pp 149-172.

‘On Linking International Monetary Reform and Economic Assistance to Low Income Countries’, Social and Economic Studies, 44 (2), 1995.

‘Managing the World Economy: A Future for the IMF?’ The Economic Review, 12 (4), April 1995, pp 31-35.

‘The Myths and Realities of IMF Lending’, The World Economy, 17 (5), 1994, pp 759-778.

‘Changing Partners, and the Changing Perspectives and Policies of the Bretton Woods Institutions’, Third World Quarterly, 15 (3), 1994, pp 483-504.

‘Sisters in Economic Development: The Bretton Woods Institutions and Developing Countries’, Journal of International Development, 5 (1), 1993, pp 1-26.

‘The Economics of Managing a University’, Studies in Higher Education, 17 (3), 1992, pp 265-280.

‘Global Environmental Degradation and International Resource Transfers’, Global Environmental Change, 2 (3), 1992, pp 229-238.

‘Ten Years Older and Deeper in Debt? The Developing Country Debt Problem in Retrospect and Prospect’, Economics, Spring 1992, pp 19-26.

‘A Vulnerable Democracy’, Energy Policy, 1991, pp 407-408.

‘Debt, Deficits and Dollars: the World Economy in 3-D’, World Development, 1991, pp 245-254.

‘International Co-ordination of Macroeconomic Policy’, The Economic Review, 1990, pp 36-41.

‘Debt Swapping and the Developing Countries: A Preliminary Investigation’, Journal of Development Studies, April 1988, pp 293-309.

‘Does the International Financial System Discriminate Against Developing Countries’, Intereconomics, 25, March/April 1988, pp 75 78.

‘A Strategy for Global Debt’, Millennium: Journal of International Studies, December 1987, pp 473 87.

‘Interest Rate Compensation and Debt: Would a Cap Fit?’ World Development, September 1987, pp 1237 42.

‘Oil Prices and Debt’, Royal Bank of Scotland Review, June 1987, pp 3 17.

‘Debt Conversion in Principle and Practice’, Banca Nazionale del Lavoro Quarterly Review, June 1987, pp 183 96.

‘New Approaches to Country Risk’, Lloyds Bank Review, October 1986, pp 1 16.

‘A Critical Review of Proposals for Financial Co operation Among Developing Countries’, Banca Nazionale del Lavoro Quarterly Review, December 1985, pp 279 290 (with Jeremy Oppenheim).

‘Managing the World Economy: Old Order, New Order or Disorder?’ Journal of Development Studies, October 1985, pp 243 250.

‘Understanding International Debt’, Economics, Summer 1985, pp 49 56.

‘Commercial Credit to Developing Countries: A Preliminary Investigation into the Theory of International Bank Lending’, International Journal of Development Banking, January 1985, pp 5 14.

‘IMF Policies in Developing Countries: The Case for Change’, The Banker, April 1984, pp 31 36 (with Tony Killick, Jennifer Sharpley and Mary Sutton).

‘An Agenda for International Monetary Reform’, Economics, Summer 1984, pp 58 60.

‘Recycling and OPEC: The Need for New Instruments’, Energy Policy, March 1984, pp 33 45.

‘Reforming the Fund: The Future of the International Monetary Fund in the International Financial System’, Three Banks Review, December 1983, pp 3 21.

‘Low Income Countries and International Financial Reform’, Journal of Developing Areas, October 1983, pp 53 76.

‘The Banks and the IMF: Division of Labour’, Lloyds Bank Review, October 1983, pp 19 33.

‘The International Monetary Fund and Developing Countries: Retrospect and Prospect’, De Economist, 2, 1983, pp 161 195.

‘Low Income Countries as a Special Case in the International Financial System: An Analysis of Some Proposals for Reform’, Economic Notes, 2, 1983, pp 5 20.

‘Should Developing Countries Use Currency Depreciation as a Tool of Balance of Payments Adjustment?  A Review of the Theory and Evidence and a Guide for the Policy Maker’, Journal of Development Studies, July 1983, pp 461 484.

‘Interest Rate Subsidies on International Finance as a Means of Assisting Low Income Countries’, World Development, June 1983, pp 515 525.

‘A Role for the International Monetary Fund in Economic Development’, Banca Nazionale del Lavoro Quarterly Review, December 1982, pp 427 451.

‘Towards a New International Economic Order?  Progress Report and Prognosis’, ODI Review, 2, 1982, pp 57 64.

‘Is the SDR Link Still Relevant for Developing Countries?’, The Banker, June 1982, pp 63 69.

‘IMF Conditionality and the Needs of Developing Countries’, Intereconomics, January February 1982, pp 32 42.

‘SDR Distribution, Interest Rates and Aid Flows’, The World Economy, December 1981, pp 419 427.

‘The IMF and Developing Countries’, Development Research Digest, 6, Winter 1981 (with Tony Killick).

‘Acerca del uso de la reforma monetaria internacional en beneficio de los paises en deserrollo’, Economica, September December 1981, pp 143 161.

‘On Using International Monetary Reform for the Benefit of Developing Countries’, Economic Notes, 1, 1981, pp 29 45.

‘Foreign Aid: The Issues’, National Westminster Bank Quarterly Review, August 1981, pp 36 51 (with Peter Gutmann).

‘Reserve Currency Consolidation, Gold Policy and Financial Flows to Developing Countries: Mechanisms for an Aid Augmented Substitution Account’, World Development, July 1981, pp 609 619.

‘Financing Balance of Payments Deficits in Developing Countries: The Roles of Official and Private Sectors and the Scope for Co operation Between Them’, Third World Quarterly, July 1981, pp 473 488.

‘Developing Country Finances: Present and Future’, Futures, June 1981, pp 191 205.

‘An Analysis of Drawings on the International Monetary Fund by Developing Countries’, World Development, June 1981, pp 563 568 (with Timothy Orme).

‘Financial Flows to Developing Countries: The Role of the International Monetary Fund’, Review of International Studies, April 1981, pp 91 105.

‘The Mix Between Adjustment and Financing: Geometrical Presentations of Factors Affecting the Different Choices Made by Developed and Developing Countries’, Indian Economic Review, April-June 1980, pp 155-164.

‘Some Proposals for Increasing the Size and Improving the Nature of Financial Flows to Developing Countries’, International Review of Economics and Business, October-November 1980, pp 1038-1054.

‘The Controversial Economics of the Brandt Report’, The World  Today, December 1980, pp 463 468 (reprinted in the Institute of Development Studies Bulletin and in the Economic Digest).

‘The Brandt Report and Economic Theory’, Economics, Winter 1980, pp 105 106.

‘Financing Economic Development: Why a New International Development Organization is Needed’, Intereconomics, July/August 1980, pp 185 187.

‘Order and Disorder in International Monetary Arrangements: A Perspective on the 1970s’, Economics, Spring 1980, pp 8 11.

‘Beyond the Brandt Report: A Strategy for World Economic Development’, Millennium: Journal of International Studies, Spring 1980, pp 55 66.

‘Commercial Borrowing by Less Developed Countries’, Third World Quarterly, April 1980, pp 270 282.

‘The International Monetary Fund as a Source of International Finance for Developing Countries: A Critical Appraisal’, Indian Journal of Economics, April 1980, pp 93 442.

‘Buffer Stocks: The Cases For and Against’, Economic Notes, 2, 1979, pp 106 111.

‘The Terms of Trade of Developing Countries: Theory, Evidence and Policy’, Economia Internazionale, November 1979, pp 399 413.

‘An Integrated Programme for Finance and Aid’, The Banker, September 1979, pp 87 93.

‘IMF Quotas, Conditionality and the Developing Countries’, ODI Review, 2, 1979, pp 57 71.

‘The Choice of Exchange Rate Regime by Developing Countries’, Philippine Economic Journal, 39, 1979, pp 148 162.

‘An Integrated Programme for Finance and Aid’, International Foundation for Development Alternatives, Dossier 8, June 1979.

‘The Benefits of Special Drawing Rights for Less Developed Countries’, World Development, March 1979, pp 281 290.

‘Devaluation versus Monetary Contraction as Appropriate Balance of Payments Policy in Less Developed Countries’, Indian Journal of Economics, January 1979.

‘Special Drawing Rights: Ten Years On’, Economics, Winter 1978, pp 110 111.

‘An Analysis of the Welfare Gains from Special Drawing Rights’, Economia Internazionale, August November 1978, pp 177 185.

‘The Choice between Balance of Payments Adjustment and Financing: A Graphical Exposition’, Malayan Economic Review, October 1978, pp 16 20.

‘International Liquidity and the Developing Countries’, Economic Notes, 6 (1), 1977, pp 77 88.

‘Less Developed Countries and the Reform of the International Monetary System’, ODI Review, 1, 1977, pp 68 91.

‘The Role of SDRs in Financing Commodity Stabilization’, Journal of World Trade Law, July August 1976, pp 371 379.

‘The Informal Link between SDR Allocation and Aid’, Journal of Development Studies, April 1976, pp 268 273.

‘Primary Product Price Instability: A Proposal for Financing Stabilization Schemes’, Economic Notes, 4(2), 1975, pp 63 72.

‘International Monetary Issues and the Developing Countries: A Survey’, World Development, September 1975, pp 609 631 (with Geoffrey Maynard) (reprinted in Streeten and Jolly, op. cit.).

‘The Liquidity Aid Link and the Maintenance of Full Employment and Balance of Payments Equilibrium in Developed Countries’, Economic Notes, 3(3), 1974, pp 157 163.

‘Some Approaches to the Simultaneous Achievement of Both Internal and External Balance’, Economics, Summer 1973, pp 329 348.

‘Inflation and the Real Mortgage Effect’, Banker's Magazine, December 1972, pp 241 243 (with David Miner).

‘The Dollar Crisis and Settlement in Perspective’, Economics, Spring 1972, pp 38 42.

 

Contributions to Edited Books

‘The World’s Liquidity Arrangements: the Easiest Item on a Holistic Agenda for International Monetary Reform,’ in U.Volz and A.Caliari, eds, Regional and Global Liquidity Arrangements, German Development Institute, 2010.
             
‘Financier or Facilitator: The Changing Role of the IMF in Low Income Countries,’ in James Boughton and Domenico Lombardi, eds, Finance, Development and the IMF, Oxford University Press, 2009 (with Dane Rowlands).

‘Debt Relief in Low Income Countries: Background, Evolution and Effects,’ in James Boughton and Domenico Lombardi, eds, Finance, Development and the IMF, Oxford University Press, 2009 (with Robert Powell).

‘Evolution in Macroeconomics: Principles, Policy and Performance,’ in R. Roy, A. Denzau and T. Willett, eds. Neoliberalism: National and Regional Experiments with Global Ideas, Routledge, 2007, pp 97-113.           

‘The Demand for IMF Assistance: What Factors Influence the Decision to Turn to the Fund?’ in J.Vreeland, G. Ranis and S.Kosack, eds. Globalisation and the Nation State: the Impact of the IMF and the World Bank, Routledge, 2006, pp 231-262 (with Dane Rowlands).

‘Should the IMF Discontinue Its Long Term Lending Role in Developing Countries?’ in J.Vreeland, G.Ranis and S.Kosack, eds. Globalisation and the Nation State: the Impact of the IMF and the World Bank, Routledge, 2006, pp 378-403 (with Paul Mosley).

‘What Determines IMF Arrangements?’ in A.Paloni and M. Zanardi, eds, The IMF, World Bank and Policy Reform, Routledge, 2006, pp 49-63 (with Dane Rowlands).

‘The IMF and Poor Countries: Towards a More Fulfilling Relationship,’ in J. Teunissen and A. Akkerman, eds. Helping the Poor? The IMF and Low Income Countries, FONDAD, 2005, pp 16-61.

'The IMF's Role in Developing Countries', in C.L.Gilbert and D. Vines, eds, The IMF and International Financial Architecture, Cambridge University Press,  2004, pp 288-315 (with Paul Mosley).

'The Catalysing Role of Policy-Based Lending by the IMF and the World Bank: Fact or Fiction' in D.K.Das, An International Finance Reader, Routledge,  2003, pp 180-203 ( with Dane Rowlands).

‘Latin America's Balance of Payments: Pessimism or Cautious Optimism?’, in G. Bird and A. Helwege (eds), Latin America's Economic Future?, Academic Press, 1994, pp 109-144.

‘Does the World Still Need the IMF?’, in S. Mansoob Murshed and K. Raffer (eds), Trade, Transfers and Development, Edward Elgar, 1993, pp 166-180.

‘Economic Reforms in Eastern Europe: Central Issues in the Move to Market Economies’, in G. Bird (ed), Economic Reform in Eastern Europe, Edward Elgar, 1992, pp 1-20 (with H. Bird).

‘The Bretton Woods Institutions and Developing Countries: Analysing the Past and Anticipating the Future’, in G. Bird (ed), International Aspects of Economic Development, Surrey University Press with Academic Press, 1992, pp 211-239.

‘International Aspects of Economic Development: A Contextual Introduction’, in G. Bird (ed), International Aspects of Economic Development, Surrey University Press with Academic Press, 1992, pp 1-10.

‘The International Co-ordination of Macroeconomic Policy’, in G. Bird and H. Bird (eds), Contemporary Issues in Applied Economics, Edward Elgar, 1991, pp 204-217.

‘The Third World Debt Crisis: Causes and Cures’, in G. Bird and H. Bird (eds), Contemporary Issues in Applied Economics, Edward Elgar, 1991, pp 234-253.

‘Introduction: Issues in the Evolving International Financial Regime’, in G. Bird (ed), The International Financial Regime, Academic Press with Surrey University Press, 1990, pp 1-8.

‘The International Financial Regime and the Developing World’, in G. Bird (ed), The International Financial Regime, op. cit., pp 225-282.

‘Evaluating the Effects of IMF-Supported Programmes: An Analytical Commentary on the Empirical Evidence’, in K. Phylaktis and M. Pradhan (eds), International Finance and the Less Developed Countries, Macmillan, 1990, pp 25-41.

‘Introduction’, in G. Bird (ed), Third World Debt: The Search for a Solution, Edward Elgar, 1989, pp 1-19.

‘Strategic Plans or Muddling Through: The Generics of Third World Debt Policy’, in G. Bird (ed), Third World Debt: The Search for a Solution, Edward Elgar, 1989, pp 189-217.

‘The Changing International Economic Order and the Interests of Developing Countries’, in C. Thomas and P. Saravanamuttu (eds), Conflict and Consensus in South North Security, Cambridge University Press, 1989, pp 59-74.

‘World Debt, Financing, Structural Adjustment and the Official Sector’, in H. W. Singer and S. Soumitra (eds), Economic Development and World Debt, Macmillan, 1989, pp 245-259.

‘The Keynes Plan and the Developing Economies’, in A. P. Thirlwall (ed), Keynes and Economic Development, Macmillan, 1987, pp 107-116.

‘Commodity Price Stabilisation and International Financial Policy’, in R. Tandon and N. Hatti (eds), International Commodity Policy, Ashish Publishing, 1987, pp 805-833.

‘The Developing World: Does it Constitute a Special Case in the International Financial System?’, in H. Singer, N. Hatti and R. Tandon (eds), Resource Transfer and Debt Trap, Ashish Publishing, 1987, pp 60-97.

‘Balance of Payments Adjustment and Financing in Developing Countries’, in H. Singer, N. Hatti and R. Tandon (eds), Progress Towards a New International Economic Order: Money and Finance, Ashish Publishing, 1987, pp 207-236.

‘Adjustment and the Balance of Payments’ in D. T. Healey (ed), Structural Adjustment in Developing Countries, John Hopkins University Press, 1985.

‘Balance of Payments Management: The Third World and the IMF’, in L. Tsoukalis (ed), The Political Economy of International Money: In Search of a New Order, Royal Institute of International Affairs, Sage, 1985, pp 233 259 (with Tony Killick).

‘The IMF: Case for a Change in Emphasis’, in R. Feinberg and V. Kallab (eds), Adjustment Crisis in the Third World, US Third World Policy Perspectives, No. 1, Overseas Development Council, 1984, pp 59 82 (with Tony Killick, Jennifer Sharpley and Mary Sutton).

‘Developing Country Interests in Proposals for International Monetary Reform’, in T. Killick (ed), Adjustment and Financing in the Developing World, IMF/ODI, 1982, pp 198 232.

‘International Monetary Issues and the Developing Countries: A Postscript to the Survey’, in P. Streeten and R. Jolly (eds), Issues in World Development, Pergamon, 1981, pp 367-373.

‘The Net Impact of Government Expenditure and Taxation on the Economies of Various Countries  and its Connection with Inflation’, University of Reading Department of Economics, Discussion Paper 32, 33 pp (with Geoffrey Maynard), published in slightly amended form as ‘The Contribution of Government to Inflation in OECD Countries’, in G. Maynard and W. Van Rycheghem, World of Inflation, Batsford, 1976.

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