Stiglitz argues that IMF policies contributed to bringing about financial crisis in East Asia and Argentina, the failure of Russia's conversion to a market economy, low levels of development in sub-Saharan Africa.
IMF policies contributed to bringing about financial crisis in East Asia and Argentina, the failure of Russia's conversion to a market economy in sub-Saharan Africa. This is what Stiglitz argues. The failure of Russia's conversion to a market economy is low levels of development.