Reforming The International Monetary System

Author : Jomo Kwame Sundaram
Publisher : Columbia University Press
Page : 561 pages
File Size : 51,8 Mb
Release : 2011-01-17
Category : Business & Economics
ISBN : 9780231527279

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Reforming the International Financial System for Development by Jomo Kwame Sundaram Pdf

The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.

Author : Emmanuel Farhi,Pierre-Olivier Gourinchas,Hélène Rey
Publisher : Unknown
Page : 65 pages
File Size : 44,7 Mb
Release : 2011
Category : International finance
ISBN : 190714241X

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Reforming the International Monetary System by Emmanuel Farhi,Pierre-Olivier Gourinchas,Hélène Rey Pdf

Author : Ruogu Li
Publisher : World Scientific
Page : 314 pages
File Size : 42,5 Mb
Release : 2015-11-09
Category : Business & Economics
ISBN : 9789814699051

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Reform of the International Monetary System and Internationalization of the Renminbi by Ruogu Li Pdf

"This book argues that only by reforming the international monetary system can we prevent financial crises in the future and the internationalization of the Renminbi, China's national currency, will be an important step in the process. Just as the old saying goes, "An old building needs to be demolished before a new one can be erected in its place," there will be no construction without destruction. The commencement of the dismantling of the old monetary system is also the beginning of the construction of the new one. Contrary to Western rhetoric, which portrays China as part of the cause of the recent financial crisis, the author contends that China is actually a victim of the current unjust international economic and monetary system. To address the imbalance and break the dollar-dominated international monetary system, the author calls for the internationalization of the Renminbi and diversification of the international monetary system. Written by one of the foremost financial practitioners in China, this book is thought-provoking and provides a unique Chinese perspective on how the international monetary system should be reformed, what the future system should look like and the role China should play in the process. It is a required reading for anyone interested in understanding China's own vision in its rise in the global political, economic and financial systems."--

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 412 pages
File Size : 45,9 Mb
Release : 1991-03-15
Category : Business & Economics
ISBN : 1557757798

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Sequencing Financial Sector Reforms by International Monetary Fund Pdf

Financial sector liberalization can spur economic growth and development, but reforms to liberalize the financial sector can also entail risks if they are not properly designed and implemented. One of the central questions for countries reforming their financial systems is how to sequence the reforms so as to maximize the benefits of liberalization and contain its risks. Edited by R. Barry Johnston and V. Sundararajan of the IMF's Monetary and Exchange Affairs Department, this book attempts to answer this and related questions by drawing lessons from financial sector reforms in selected countries. In particular, the book surveys financial sector reforms in Indonesia, Thailand, and Korea between the mid-1980s and mid-1990s.

Author : José Antonio Ocampo
Publisher : Oxford University Press
Page : 296 pages
File Size : 45,9 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780198718116

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Resetting the International Monetary (Non)System by José Antonio Ocampo Pdf

Annotation Provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.

Author : Mr.Alexander K. Swoboda,Mr.Peter B. Kenen
Publisher : International Monetary Fund
Page : 450 pages
File Size : 44,5 Mb
Release : 2000-12-18
Category : Business & Economics
ISBN : 1557758352

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Reforming the International Monetary and Financial System by Mr.Alexander K. Swoboda,Mr.Peter B. Kenen Pdf

This volume examines the implications of greater financial integration on the international monetary and financial system, and how it should be reformed. Various experts consider the most disruptive manifestations of instability and the appropriate policy responses, including exchange rate volatility and misalignments; unstable capital flows to emerging market economies; abrupt capital flow reversals; and private sector involvement in crisis resolution. The IMF’s role in crisis prevention and resolution is also examined.

Author : International Monetary Fund. Committee on Reform of the International Monetary System and Related Issues
Publisher : Unknown
Page : 270 pages
File Size : 51,7 Mb
Release : 1974
Category : Balance of payments
ISBN : UOM:35128000983088

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International Monetary Reform by International Monetary Fund. Committee on Reform of the International Monetary System and Related Issues Pdf

Author : Carol M Connell
Publisher : Routledge
Page : 288 pages
File Size : 44,5 Mb
Release : 2015-10-06
Category : Business & Economics
ISBN : 9781317320418

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Reforming the World Monetary System by Carol M Connell Pdf

Focusing on Fritz Machlup, Connell presents the story of the Bellagio Group and its contribution to modern finance. Initiated by Machlup the Bellagio Group was made up of thirty-two non-government academic economists. During the years between 1964 and 1977 the Group met eighteen times and made a series of recommendations for policymakers.

Author : José Antonio Ocampo,José Antonio Ocampo Gaviria
Publisher : Unknown
Page : 32 pages
File Size : 54,9 Mb
Release : 2011
Category : Financial institutions, International
ISBN : 9292303937

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Reforming the International Monetary System by José Antonio Ocampo,José Antonio Ocampo Gaviria Pdf

Author : John Williamson
Publisher : Routledge
Page : 168 pages
File Size : 53,6 Mb
Release : 2015-10-08
Category : Business & Economics
ISBN : 9781317362890

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International Monetary Reform by John Williamson Pdf

This volume is a contribution to the debates surrounding international monetary reform. The author examines and analyses the workings of the International Monetary Fund (IMF) and suggests how the international monetary system could, through changes to the IMF, be reshaped and reformed. Chapters examine the Palais-Royal report, explain how the IMF could be granted unlimited bailout powers to confront a global crisis, propose an exchange-rate based mechanism by which the international community could discipline excessive imbalances, examine alternative possibilities for the supply of future reserves, advocate `enthronement of the Special Drawing Right’, and discuss the obstacles in the way of such an ambitious reform agenda.

Author : Anonim
Publisher : Peterson Institute
Page : 596 pages
File Size : 48,7 Mb
Release : 2006
Category : Electronic books
ISBN : 0881325821

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Reforming the IMF for the 21st Century by Anonim Pdf

Author : John B. Taylor
Publisher : MIT Press
Page : 153 pages
File Size : 45,9 Mb
Release : 2019-04-09
Category : Business & Economics
ISBN : 9780262352680

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Reform of the International Monetary System by John B. Taylor Pdf

An argument that a rules-based reform of the international monetary system, achieved by applying basic economic theory, would improve economic performance. In this book, the economist John Taylor argues that the apparent correlation of monetary policy decisions among different countries—largely the result of countries' concerns about the exchange rate—causes monetary policy to deviate from effective policies that stabilize inflation and the economy. He argues that a rules-based reform of the international monetary system, achieved by applying basic economic theory, would improve economic performance. Taylor shows that monetary polices in recent years have been deployed either defensively, as central banks counteract forces from abroad that affect the exchange rate, or offensively, as central banks attempt to move the exchange rate to gain a competitive advantage. Focusing on the years from 2005 to 2017, he develops an empirical framework to examine two monetary policy instruments: the policy interest rate (the more conventional of the two) and the size of the balance sheet. He finds that an international contagion in central bank decisions about the policy interest rate has accentuated the deviation from standard interest rate rules that have worked in the past. He finds a similar contagion in decisions about the size of the balance sheet. By considering a counterfactual policy in the estimated model, Taylor is able to estimate by how much the policy of recent years has increased exchange rate volatility. After several rounds of monetary actions and reactions aimed at exchange rates, Taylor finds, the international monetary system is left with roughly the same interest rate configuration, but much larger balance sheets to unwind.

Author : Fritz Machlup
Publisher : Forgotten Books
Page : 106 pages
File Size : 48,7 Mb
Release : 2018-03-17
Category : Business & Economics
ISBN : 0364741163

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Plans for Reform of the International Monetary System (Classic Reprint) by Fritz Machlup Pdf

Excerpt from Plans for Reform of the International Monetary System It is symptomatic of the tempo with which economic matters conditions, institutions, policies, and plans - are changing nowadays that. A paper describing current plans for reform of the international monetary system calls for a new and much enlarged edition within one year. This new edition exceeds the obsolete version by 34 per cent in terms of words printed. The number of footnotes increased from 69 in the first edition to 105, or by 52 per cent, an increase which is accounted for, not by afterthoughts, but by new publications relevant to the subject. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Author : United States. Congress. Joint Economic Committee. Subcommittee on International Exchange and Payments
Publisher : Unknown
Page : 178 pages
File Size : 49,8 Mb
Release : 1968
Category : Balance of payments
ISBN : UCAL:$B642228

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Next Steps in International Monetary Reform by United States. Congress. Joint Economic Committee. Subcommittee on International Exchange and Payments Pdf

Author : Robert Triffin
Publisher : Unknown
Page : 238 pages
File Size : 54,8 Mb
Release : 1968
Category : International finance
ISBN : STANFORD:36105033805610

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Our International Monetary System; Yesterday, Today, and Tomorrow by Robert Triffin Pdf