ABSTRACT
The IMF and its officials have responded to their critics -- both economists and Third World nations -- in two distinct ways. On the one hand, throughout the 1970s the Fund altered some of its policies and stabilization programs in ways that seemed to partially accept the logic of the structuralists' growth-oriented critique. At the same time, IMF economists have launched a spirited defense of Fund programs, including cross-country empirical studies assessing the actual effects of IMF programs.
