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At the beginning of the third millennium, underdevelopment and poverty continue to remain critical problems on a global scale. The purpose of this volume is to explore the various ways in which the institutions of the global economy might rise to the challenges posed by the twin goals of increasing the pace of global development and alleviating poverty.

The expert authors provide a much-needed analysis of the successes and failures of international institutions in achieving these aims, while at the same time providing important insights into the potential future paths that they might follow. Amongst other themes, the contributors investigate the design of international institutions for raising the standard of living in the developing world in order to achieve global development and stability. They also study particular institutions such as the IMF and the WTO to assess their effect on the growth performance of developing nations. In additional chapters, the authors study institutions and regional issues such as privatization and poverty in Russia, the Asian Financial Crisis and the role of the IMF, and the development crisis in sub-Saharan Africa.

This book offers a rigorous examination and informed discussion of the potential role of international institutions in the quest to alleviate poverty. Academics and professionals working in the fields of development studies, international economics and business management will welcome this stimulating book. It will also appeal to decision-makers involved in the formulation of trade, monetary and development policy.