Resetting the International Monetary (Non)System

Resetting the International Monetary (Non)System

作者:Antonio Ocampo, José
ISBN:9780198718116
语言:English
出版社:Oxford University Press
格式:Pdf
资源下载
此资源为免费资源,请先后下载

Keywords

sovereign debt workout; bretton woods; monetary reform; special drawing rights; international monetary system; macroeconomic policy cooperation; Balance of payments; Capital account; Developed country; Developing country; Exchange rate

Abstract

This book provides an analysis of the global monetary system and the necessary reforms that it should undergo to play an active role in the twenty-first century. As its title indicates, its basic diagnosis is that it is an ad hoc framework rather than a coherent system—a ‘non-system’—which evolved after the breakdown of the original Bretton Woods arrangement in the early 1970s. The book places a special focus on the asymmetries that emerging and developing countries face within the current system, and therefore on the development dimensions of the global monetary system and of global monetary reform. The book proposes a comprehensive yet evolutionary reform of the system that includes: (i) provision of international liquidity through a system that mixes the multi-currency arrangement with a more active use of the IMF’s Special Drawing Rights (SDRs), the only true global currency that has been created; (ii) stronger mechanisms of macroeconomic policy cooperation, including greater cooperation in exchange rate management, and freedom to manage capital flows as a complement to counter-cyclical macroeconomic policy and other instruments of financial regulation; (iii) additional automatic balance-of-payments financing facilities, and the complementary use of swap and regional arrangements; (iv) a multilateral sovereign debt workout mechanism; and (v) major reforms of the system’s governance, based on a more representative apex organization, more equitable participation of emerging and developing countries in decision-making, and a network of global, regional, inter-regional, and sub-regional organizations.

资源下载此资源仅限注册用户下载,请先
资源下载
作者:Antonio Ocampo, José
ISBN:9780198718116
语言:English
出版社:Oxford University Press
格式:Pdf

如果您有任何问题,请随时与我们联系,谢谢。Resetting the International Monetary (Non)System 内容均搜集于网络,本身不存储任何资源,如侵犯到您的权益,请提交反馈,我们将配合您第一时间删除。

0
封面图

评论0