Vom Washington Consensus zum Flexiblen Keynesianismus - der Internationale Wahrungsfonds nach der Finanzkrise

In: Politische Vierteljahresschrift: PVS : German political science quarterly, Volume 55, Issue 3, p. 427-444

Abstract

In the wake of the latest financial crisis, the International Monetary Fund returned to its core business - providing liquidity to cope with external imbalances. The crisis also seemed to mark an ideological break with-the past. At the London G20 summit in 2009, leading politicians declared the 'Washington Consensus' dead and anti-cyclical economic policy the order of the day. This article analyzes elements and driving forces of a paradigm change in the crisis policy of the IMF. I argue that a transformation towards a new economic philosophy of a 'flexible Keynesianism' is proceeding, driven both by large member states and the IMF staff. Adapted from the source document.