The New Architecture Of The International Monetary System

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The New Architecture of the International Monetary System

Author : Paolo Savona
Publisher : Springer Science & Business Media
Page : 251 pages
File Size : 51,6 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9781475767667

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The New Architecture of the International Monetary System by Paolo Savona Pdf

Two years ago, the Guido Carli Association, in collaboration with the Aspen Institute Italia, charged a group of distinguished economists to examine the problems created by the unsatisfactory functioning of the International Monetary System. The two resulting conferences were sponsored by the Fondazione della Cassa di Risparmio di Firenze (CESIFIN) and the Permanent Advisory Committee on the Euro and the Dollar (PACE&D). Their research had a two-fold aim. The first was an examination of the basic function of the International Monetary System with a special focus on the role the Euro would and should have. The second was the preparation of a list of recommendations on how to resolve the problems, financial problems in particular, affecting the entire world community. Last year, the group focused on efforts taking place in diverse financial institutions and universities to construct what has been called the `New International Financial Architecture'. This group considered the legal problems arising from European and international integration and, more generally, from the new architecture of the International Monetary System. This book, The New Architecture of the International Monetary System, is the final result of their efforts. It will be an invaluable resource for academics, professionals, and students alike.

The New International Monetary System

Author : Charles Wyplosz
Publisher : Routledge
Page : 284 pages
File Size : 47,6 Mb
Release : 2010-02-25
Category : Business & Economics
ISBN : 9781135163815

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The New International Monetary System by Charles Wyplosz Pdf

The New International Monetary System brings together twelve original contributions by leading scholars and practitioners to a conference convened in May 2008 on the occasion of the retirement of Alexander Swoboda. The contributions are arranged in three main parts. Part I deals with the international financial architecture, Part II examines the ever-controversial role of exchange rate regimes and Part III takes stock of the conduct of monetary policy and the challenges posed by the inflation-targeting strategy. The chapters provide considered assessments of virtually all the hotly debated issues that concern monetary policies seen from an international perspective. Edited by and with an introduction from Charles Wyplosz, the collection includes contributions from some of the key international figures in the field of monetary policy, central banking and exchange rate regimes to discuss contemporary international monetary issues. Contributors include Michael Bordo, Barry Eichengreen, Ronald McKinnon and Charles Goodhart. The volume also contains tributes from Paul Volcker and Jean-Pierre Roth.

The Financial System Under Stress

Author : Marc Uzan
Publisher : Routledge
Page : 240 pages
File Size : 55,8 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134780181

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The Financial System Under Stress by Marc Uzan Pdf

The collapse of Barings bank and the currency crisis in Mexico are just two instances of stress in an international financial system still largely governed by the institutions established by the Bretton Woods Committee in 1944. Here, the authors put forward an agenda for a new system of international economic institutions to fit the changes in international relations. This agenda includes: * an analysis of the role of the Bretton Woods institutions and their relations with the newly created World Trade Organizations * a discussion of the search for world economic governance * an analysis of the crisis within EMS and the prospects for European Monetary Integration * an examination of the integration of private markets in the new economic architecture.

Out of the Box Thoughts about the International Financial Architecture

Author : Mr.Barry J. Eichengreen
Publisher : INTERNATIONAL MONETARY FUND
Page : 26 pages
File Size : 42,6 Mb
Release : 2009-05-01
Category : Business & Economics
ISBN : 1451872631

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Out of the Box Thoughts about the International Financial Architecture by Mr.Barry J. Eichengreen Pdf

The Global Credit Crisis of 2008-09 has underscored the urgency of reforming the international financial architecture. While a number of short-term reforms are already in train, this paper contemplates more ambitious reforms of the international financial architecture that might be implemented over the next ten years. It proposes routinizing the expansion of IMF quotas and the conduct of exchange rate surveillance. It contemplates an expanded role for the SDR in international transactions, which would require someone-like the IMF-to act as market maker. It considers proposals for reimposing Glass-Steagall-like restrictions on commercial and investment banking, something that will have to be coordinated internationally to be feasible. Other proposals would require banks to purchase capital insurance; here the question is who would be on the other side of the market. Again there is likely to be a role for the IMF. Then there are arguments for a new agency or institution to deal with cross-border bank insolvencies. Any such entity will require staff support, which might plausibly come from the Fund. Finally, some insist that international colleges of regulators are not enough-that it is desirable to create a World Financial Organization (WFO) with the power to sanction members whose national regulatory policies are not up to international standards. A WFO will similarly need staff support, of which the IMF would be one possible source. All this of course presupposes meaningful IMF governance reform so that the institution has the legitimacy and efficiency to assume these additional responsibilities. The paper therefore concludes with some conventional and unconventional proposals for IMF governance reform.

Architects of the International Financial System

Author : Anthony Endres
Publisher : Routledge
Page : 272 pages
File Size : 50,6 Mb
Release : 2005-01-20
Category : Business & Economics
ISBN : 9781134347100

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Architects of the International Financial System by Anthony Endres Pdf

Who were the great thinkers on international finance in the mid-twentieth century? What did they propose should be done to create a stable international financial order for promoting world trade and economic growth? This important book studies the ideas of some of the most innovative economists in the mid-twentieth century including three Nobel Laureates; great thinkers who helped shape the international financial system and the role of the World Bank and the International Monetary Fund. Covering the period from the late 1940s up until the collapse of the fixed US dollar-gold link in 1971, the impact of Hansen, Williams, Graham, Triffin, Simons, Viner, Friedman, Johnson, Mises, Rueff, Rist, Hayek, Heilperin and Röpke is assessed. This outstanding book will prove invaluable to students studying international economics, economic history and the history of economic thought.

Building Trust in the International Monetary System

Author : Giovanni Battista Pittaluga,Elena Seghezza
Publisher : Springer Nature
Page : 274 pages
File Size : 41,6 Mb
Release : 2021-07-15
Category : Business & Economics
ISBN : 9783030784911

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Building Trust in the International Monetary System by Giovanni Battista Pittaluga,Elena Seghezza Pdf

This book presents the evolution of the international monetary system from the gold standard to the monetary system in force today. It adopts a political economy approach, emphasizing the economic and political conditions under which an international monetary system can come into existence and be maintained over time. This approach highlights how the gradual transition in the international context from commodity money to fiat money has been led by the need for greater elasticity of money supply and smooth adjustments. This transition, however, raises the issue of how to guarantee, over time, the value of a money devoid of intrinsic value. By presenting a historical evolution, the book explains how the existence of an international monetary system based on money without intrinsic value can only occur when a particular balance of power exists at the international level that allows for the production of trust in a fiat money. The book is a must-read for scholars, researchers, and students in the fields of economic history and international monetary economics, interested in better understanding the evolution of the international monetary system.

The Future of the International Monetary System

Author : Marc Uzan
Publisher : Edward Elgar Publishing
Page : 392 pages
File Size : 44,8 Mb
Release : 2005
Category : Business & Economics
ISBN : STANFORD:36105114239317

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The Future of the International Monetary System by Marc Uzan Pdf

Is the international financial architecture debate over? Not according to leading experts gathered together in this impressive volume who try to identify the key trends that will fashion the international financial system in the years ahead. As history has shown, the evolution of the international monetary system is a slow process. However, the authors argue that we may be entering a new era in which a combination of factors will have lasting consequences on the functioning of the international monetary system and the future role of the IMF. This book combines the thoughts and opinions of distinguished contributors from academia, the private sector and central banks. In light of the financial crises of the 1990s, it provides a first attempt to reflect on debates surrounding the current state of the international financial system and predict some possible future scenarios. international monetary and financial system. prospective sources of finance for the developing world and the future of the sovereign debt market. the evolving debate on capital account liberalization. exchange rate regimes and future monetary arrangements. the aftermath of the sovereign debt restructuring mechanism debate. governance of the international financial system. This important overview of the controversies surrounding the future design and development of the international financial system will be welcomed by academics and professional economists interested in banking, monetary economics and international finance. It will also be of great value to finance ministries, supervisory authorities, central banks and financial institutions.

The International Financial Architecture

Author : Peter B. Kenen
Publisher : Peterson Institute
Page : 212 pages
File Size : 40,8 Mb
Release : 2001
Category : Business & Economics
ISBN : 0881322970

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The International Financial Architecture by Peter B. Kenen Pdf

Kenen (economics and international finance, Princeton University) reviews the reform efforts that followed the 1994-95 Mexican crisis, and evaluates their results in the time since then. He compares the existing efforts with the more radical recommendations of the Meltzer Report, and considers the implications of his analysis for the role of the IMF. He then offers his own recommendations for further reform. c. Book News Inc.

Architects of the International Financial System

Author : Anthony Endres
Publisher : Routledge
Page : 305 pages
File Size : 53,5 Mb
Release : 2005-01-20
Category : Business & Economics
ISBN : 9781134347094

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Architects of the International Financial System by Anthony Endres Pdf

Who were the great thinkers on international finance in the mid-twentieth century? What did they propose should be done to create a stable international financial order for promoting world trade and economic growth? This important book studies the ideas of some of the most innovative economists in the mid-twentieth century including three Nobel Laureates; great thinkers who helped shape the international financial system and the role of the World Bank and the International Monetary Fund. Covering the period from the late 1940s up until the collapse of the fixed US dollar-gold link in 1971, the impact of Hansen, Williams, Graham, Triffin, Simons, Viner, Friedman, Johnson, Mises, Rueff, Rist, Hayek, Heilperin and Röpke is assessed. This outstanding book will prove invaluable to students studying international economics, economic history and the history of economic thought.

International Monetary Policy After the Euro

Author : Robert A. Mundell,Paul J. Zak,Derek M. Schaeffer
Publisher : Edward Elgar Publishing
Page : 184 pages
File Size : 49,5 Mb
Release : 2005-01-01
Category : Business & Economics
ISBN : 1845425669

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International Monetary Policy After the Euro by Robert A. Mundell,Paul J. Zak,Derek M. Schaeffer Pdf

This fascinating book, a dialogue by leading economists, offers an extensive review of the impact of the introduction of the euro on the international monetary system. The authors dissect the impact of the euro on living standards in developed and developing countries, the growth of the euro zone, the role of the International Monetary Fund, and the function of gold in the international monetary system. Also discussed is the design of a new international financial architecture and its impact on the wealth of nations. The critique is frank, entertaining, and sometimes conflicting, empowering the reader to draw his or her own conclusions. Offering a comprehensive review, this book will have great appeal for economists, especially those working on international monetary policy and theory. Students will also find this book of value.

Reforming the Global Financial Architecture

Author : Yilmaz Akyuz
Publisher : Zed Books
Page : 176 pages
File Size : 42,7 Mb
Release : 2002-04
Category : Business & Economics
ISBN : 1842771558

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Reforming the Global Financial Architecture by Yilmaz Akyuz Pdf

Instability has become global and systemic. Strengthening international institutions and arrangements would reduce the threat of crises and allow those that do occur to be better managed. These proposals take the developing world into account.

The Past and Future of International Monetary System

Author : Jingyi Wang
Publisher : Springer
Page : 91 pages
File Size : 40,6 Mb
Release : 2015-11-30
Category : Business & Economics
ISBN : 9789811001642

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The Past and Future of International Monetary System by Jingyi Wang Pdf

This book examines essential problems in the current International Monetary System, especially those concerning the International Standard. To do so, it focuses on the different monetary systems of today’s major currencies – the US dollar, the euro and the CNY, as well as the performance of the standards used in the international monetary system, i.e., the SDRs. In addition, it projects the potential consequences of including the Chinese CNY in the current SDR system, thus proposing a reform of the SDRs. The analytical research is mainly based on a performance comparison of the major international standards in the current international monetary system. divThe author illustrates that the political/policy reactions and economic philosophies underlying each monetary system constitute not only reasonable responses to the current international monetary system, but also fundamental factors in decisions concerning changes to or reforms of the international monetary system.div>

Reforming the International Monetary and Financial System

Author : Mr.Alexander K. Swoboda,Mr.Peter B. Kenen
Publisher : International Monetary Fund
Page : 450 pages
File Size : 49,6 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.

The Financial System Under Stress

Author : Marc Uzan
Publisher : Burns & Oates
Page : 225 pages
File Size : 42,7 Mb
Release : 1996
Category : Business & Economics
ISBN : 0415135168

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The Financial System Under Stress by Marc Uzan Pdf

Summary: v.1 provides an analysis of the role of those institutions established at Bretton Woods and their relations with the newly created World Trade Organization. Particular attention is given to the Internation Monetary Fund and the World Bank -- v.2 examines the type of global governance necessary for the changing world economy. Finally -- v.3 discusses the growing integration of capital markets and their role in the new economic architecture.

International Financial Architecture

Author : C. Peláez
Publisher : Springer
Page : 373 pages
File Size : 50,5 Mb
Release : 2005-11-01
Category : Business & Economics
ISBN : 9780230288959

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International Financial Architecture by C. Peláez Pdf

The Group of Seven Industrialized Countries, G7 developed a new doctrine of international supervision and regulation of financial markets. The G7 instructed international financial institution such as the IMF, the Bank for International Settlements, the World Bank and the Multilateral Development Banks to tighten their supervision and regulation of international finance. This volume examines this doctrine sometimes known as the 'New Architecture of the International Financial System' or IFA. Strengthening of the international financial system never ends and there have been recurring vulnerabilities in international financial architecture. The book examines current practices and its consequences and how the IFA has evolved and its alternatives. The book draws upon academic knowledge, practitioner techniques in financial risk management and official doctrine to analyze how investors, creditors and debts function within the new architecture.