LEARNING OBJECTIVES
After you have read this section, you should be able to answer the following questions:
What are the main international organizations that help to promote growth?
What do these institutions do to achieve their stated goals?
Governments acting alone can do a lot to promote economic growth. We have discussed the importance of protecting property rights and establishing a climate of political stability. These efforts by individual governments are complemented by international actions to promote growth and development in poorer countries. In this section, we describe three powerful and controversial international economic organizations: the World Bank, the International Monetary Fund (IMF), and the World Trade Organization (WTO). We briefly explain what these institutions do and how they go about reaching their goals. [***The websites of the World Bank, the IMF, and the WTO are, respectively, as follows:http://www.worldbank.org, http://www.imf.org/external/index.htm, and http://www.wto.org. ***]
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