International Monetary Fund Essay

The marvel To what extent has the world(prenominal) Monetary Fund contributed in revamping the Nigerian miserliness since the 1980s? is a motility that helps us to value the true impact of international monetary policy. In order to more(prenominal)over actualise the import of this question, this paper ordain try the following subjects 1) the meaning of the question, 2) the signifi dropce of the question for International dealings scholars, 3) how the question relates to other produce work in the area, and 4) what methods would be employed to answer the question.First of all, the question is directly focused on scotch impacts. However, the question is not only if a matter of metrics, because the question is directed at procedural tacks as rise. The question is focused on the restructuring of the Nigerian saving. To only use frugal metrics would fail to address the consequences restructuring entails. When the IMF releases gold to a awkward, they stipulate conditi ons that the country must meet.Therefore, the question is also directed at the matching the directives of the IMF with the performance within Nigeria. The question is not asking if the IMF has had a positive or negative impact on Nigeria, so value judgments can be left aside. However, there are several hidden scotch impacts. geomorphological changes to the workforce, changes in occupations, and new roles within the economy are all more difficult to measure, but can be considered a result of economical policy. Therefore, the question means 1) what are the economic stipulations of the IMF from the 1980s until now, 2) has the Nigerian organization met the requirements of the IMF, 3) what restructuring has occurred within the Nigerian economy as a result of the IMF, 4) what economic measures can be attributed to these changes, and 5) what are the validatory economic impacts of the IMF policies.International dealing scholars are interested in this question because the answers yiel d important info on the impacts of policy. International relations scholars are often consulted on questions of policy. It is thus in their best interest to know the impacts of policies made in the past. In this regard, they are historians. First of all, it is critically important for International Relations scholars to understand what the IMF has attempted to revamp within the Nigerian economy by canvass the stipulations as they were made.Additionally, the scholar can look at the Nigerian regimens ability to meet the demands of the IMF. How well were they able to integrate the changes indispensable by the IMF. Were there consequences that required new policies in the forthcoming? In analyze these policy changes, the scholar can also piece their testify picture together of what the IMF did well (what was effective), and what changes needed to be made in direction in order to achieve effectiveness. They can also endure a unique insight into the culture and politics of Nigeri a, as well as the indispensable culture and politics of the IMF.At this point, the International Relations scholar can also know what economic measures are unnatural by differing types of policies and requirements. Additionally, they can make recommendations on what types of correlations can be install between initiative and their impact. Perhaps some of the most valuable nurture for International Relations scholars, however, is tie in to the indirect impact of the IMFs policies.When looking at at at the restructuring of the Nigerian economy, the International Relations scholar is able to examine the changes within the population, how people moved around, the changes in families, etc. This type of schooling allows for a more comprehensive picture of economic change and the set up policy can have on cultural change. Also, this may bring out the challenges represented by a more powerful entity interacting with a little powerful entity on a global scale.There has been much pen about Nigeria since the 1980s. There are environmental reports, malnutrition reports, and economic reports. However, these all flak Nigeria from a different perspective than the direction of this question. This question seeks to directly research the impact of IMF policies and economic aid on the revamping of the Nigerian economy. As such, this question seeks to provide supporting information of the changes in Nigeria. It seeks to eviscerate change related to IMF policies alone. It is impossible to completely know what current conditions in Nigeria are caused totally or even primarily by the IMF policies, however by rivet on the IMF, widespread impacts can be evaluated from IMF policies. It is taking the infusion of specie and change of monetary policy as the starting point and looking for the economic aspects affected. One of the main sources for research on these types of development programs is put in with the homo Bank. A particularly useful document is The developi ng of pauperisation and Welfare in Nigeria, 1982 1992.1Using this document and also information from the IMF, the scholar can tie together the policies of the IMF and the effects.In order to study such a complex issues, a rigorous approach will need to be taken. It is the most difficult to know the indirect impacts of the IMFs economic policies. It is hateful to claim that changes were a result of IMF policy, if in fact, they owed their existence to a governmental or environmental change. However, the economy is so closely entwined with all aspects of life, the implications of the IMF policies will be seen to have far-reaching consequences.Therefore, we can begin by examining the Nigerian economy and economic statistics in 1980, and comparing them with the present day to get snapshots of the economic health of Nigeria at these two points in time. These snapshots, however, encompass other economic influences other than the IMF programs. Then the specific policies of the IMF and th eir objectives are compared to the resulting economic changes to see if the verbalise goals have been achieved via metrics.Also involved in this analysis is the ability of the Nigerian government to implement the changes required by the IMF. This area of analysis is perchance the easiest, as the initiatives of the IMF are easily available. However, information on the execution of instrument and the implementations challenges may be more difficult to find. Looking at a timeline of IMF policies, one can also deduce what was effective or not effective. If a policy was ineffective, then in a later cycle we should find a correction or an abandonment of the program.The internal structure of the government and economy can also be viewed. The office that money flows and what directions can be measured. It is important to see morphologic change since the 1980s. The Nigerian government worked with the IMF to develop the National Economic and Empowerment developing Strategy in 2004.2 Th is document reviews previous policy and also lays the tush for future work between the IMF and the Nigerian government.This report focuses on structural changes highlighting the importance of revamping the Nigerian economy. Additionally, looking at the basic economic unit the household can show structural changes ass well. By looking at these structural changes, the real question about revamping the economy can be answered. Of course, this type of analysis also looks at the indirect effects of economic change. These are difficult to measure, but by tracing newspaper stories and major events in Nigeria, it may be possible to trace events back to economic policy decisions.Overall, the question of the effectiveness of the IMFs policies to restructure the Nigerian economy is a very important question with implications for future policy consideration and also a deeper understanding of the past. Now that the sphere is becoming smaller and national boundaries are being crossed with m oney and policy, it is more important than ever to understand the impact of economic policy. Additionally, with the prevalence of capitalism and modernization, the effects of economic policy on third cosmos nations must have a thorough understanding.Reference ListInternational Monetary Fund, The Nigerian Economic Reform Program, IMF, 2005,retrieved 10 January 2007 World Bank, The Evolution of Poverty and Welfare in Nigeria, 1985-92, World Bank,1997, retrieved 10 November, 2007, http//www4.worldbank.org/afr/ pauperization/databank/DocNav/default.cfm1 World Bank, The Evolution of Poverty and Welfare in Nigeria, 1985-92, World Bank, 1997, retrieved 10 November, 2007, http//www4.worldbank.org/afr/poverty/databank/DocNav/default.cfm2 International Monetary Fund, The Nigerian Economic Reform Program, IMF, 2005, retrieved 10 January 2007