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Author | : Barry Eichengreen |
Publisher | : Brookings Institution Press |
Total Pages | : 212 |
Release | : 2000-08-21 |
Genre | : Business & Economics |
ISBN | : 9780815791423 |
Download International Monetary Arrangements for the 21st Century Book in PDF, ePub and Kindle
Recent events have reignited the debate over the future of the international monetary system. This book, part of the Integrating National Economic series, examines international monetary options of the twenty-first century. Barry Eichengreen argues that it will not be possible for governments to prevent exchange rates from exceeding prespecified limits. Changes in technology, market structure, and politics will force countries that have traditionally pegged their exchange rates to choose between floating rates and monetary unification. Eichengreen describes the various international monetary arrangements with which policymakers have experimented in the past. He introduces the requirements that an international monetary system must satisfy and illustrates how these requirements have been met over time. He analyzes which preconditions for the smooth operation of international monetary systems in the past will be impossible to achieve in the next century and creates a list of feasible options for future policymakers. These feasible options, he concludes, will be limited to some form of floating exchange rates and monetary unions. In which direction countries should move is not obvious. The choice between floating and monetary unification depends on a host of economic and political factors. The book provides an in-depth analysis of Western Europe's experience and the dramatic international monetary initiatives currently under way, and compares options for Asia, Africa, the former Soviet Union, and the Western Hemisphere. A volume of Brookings' Integrating National Economies Series
Author | : José Antonio Ocampo |
Publisher | : Oxford University Press |
Total Pages | : 296 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 019871811X |
Download Resetting the International Monetary (Non)System Book in PDF, ePub and Kindle
This volume 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 | : |
Publisher | : Peterson Institute |
Total Pages | : 596 |
Release | : 2006 |
Genre | : Electronic books |
ISBN | : 9780881325829 |
Download Reforming the IMF for the 21st Century Book in PDF, ePub and Kindle
Author | : Robert Z. Aliber |
Publisher | : Springer |
Total Pages | : 335 |
Release | : 1986-12-15 |
Genre | : Business & Economics |
ISBN | : 1349185132 |
Download The Reconstruction of International Monetary Arrangements Book in PDF, ePub and Kindle
The decade of the 1970s was one of turbulence in international monetary arrangements - the exchange rates fluctuated through a wide range, national price levels more than doubled fueled partly by several oil price shocks, and the external debts of the developing countries increased from $120 billion to
Author | : Ms.Christine Lagarde |
Publisher | : International Monetary Fund |
Total Pages | : 16 |
Release | : 2014-02-03 |
Genre | : Business & Economics |
ISBN | : 1513598600 |
Download A New Multilateralism for the 21st Century Book in PDF, ePub and Kindle
This chapter presents the content of the Richard Dimbleby lecture, which has been delivered by an influential business or a political figure every year since 1972. Christine Lagarde, Managing Director of the IMF, delivered the 2014 lecture at Guildhall in London on February 3. The 44 nations gathering at Bretton Woods have been determined to set a new course based on the principle that peace and prosperity flow from the font of cooperation. Fundamentally, the new multilateralism needs to instil a broader sense of social responsibility on the part of all players in the modern global economy. A renewed commitment to openness and to the mutual benefits of trade and foreign investment is requested. It also requires collective responsibility for managing an international monetary system that has travelled light-years since the old Bretton Woods system. The collective responsibility would translate into all monetary institutions cooperating closely mindful of the potential impact of their policies on others.
Author | : John Williamson |
Publisher | : |
Total Pages | : 9 |
Release | : 2006 |
Genre | : Monetary policy |
ISBN | : |
Download Choosing Monetary Arrangements for the 21st Century Book in PDF, ePub and Kindle
Author | : Edwin M Truman |
Publisher | : Columbia University Press |
Total Pages | : 141 |
Release | : 2006-02-15 |
Genre | : Political Science |
ISBN | : 0881324671 |
Download A Strategy For IMF Reform Book in PDF, ePub and Kindle
The International Monetary Fund (IMF) is in eclipse as the preeminent institution promoting international economic and financial stability. Successful reform of the IMF must engage the full spectrum of its members. The IMF should not focus primarily on its low-income members and the challenges of global poverty nor should it focus exclusively on international financial crises affecting a small group of vulnerable emerging-market economies. Instead, it must be engaged with each of its members potentially on the full range of their economic and financial policies and play a central role in shaping global economic performance. This important new book strongly argues that systemically important countries, starting with the Group of Seven, must support the IMF in this role. Its recommendations cover all key aspects of IMF responsibilities and operations: (1) In the crucial area of governance, the membership of the IMF should promptly address the reallocation of IMF shares (voting power) and the reallocation of chairs (representation on the IMF executive board), and it is time to discard the old conventions and to adopt a merit-based approach to the choice of the IMF's leadership; (2) mechanisms should be put in place to increase the IMF's leverage over systemically important members, and the IMF must act more forcefully in discharging its responsibility to exercise firm surveillance over members' exchange rate policies; (3) the Fund's central role in external financial crises should be reaffirmed; (4) the IMF should narrow and refocus its involvement with its low-income members; (5) the IMF's activities should be updated with respect to members' capital account policies and financial sectors; and (6) the IMF should put in place procedures for borrowing from the market to guard against the possibility that it will not receive timely increases in its quota resources.
Author | : Barry J. Eichengreen |
Publisher | : International Monetary Fund |
Total Pages | : 62 |
Release | : 2000-03 |
Genre | : Business & Economics |
ISBN | : |
Download The International Monetary System in the (Very) Long Run Book in PDF, ePub and Kindle
This paper takes stock of the evolution of the international monetary system over the last thousand years. Several points stand out from the analysis. One is the reluctance of governments to embrace radical changes in international monetary relations. Another is the conflict between external and domestic objectives over the cycle, which has been a source of significant tension in the industrial core through much of this century, is now becoming a significant issue for developing countries. Finally, recent developments represent a return to the more market-driven international monetary system that characterized the better part of the preceeding millennium.
Author | : Robert Z. Aliber |
Publisher | : |
Total Pages | : 330 |
Release | : 1989 |
Genre | : |
ISBN | : |
Download The Reconstruction of International Monetary Arrangements Book in PDF, ePub and Kindle
Author | : Julius Horváth |
Publisher | : Nova Publishers |
Total Pages | : 130 |
Release | : 2006 |
Genre | : Business & Economics |
ISBN | : 9781600212260 |
Download International Currency Arrangements and Policies Book in PDF, ePub and Kindle
This book deals with exchange rate arrangements and exchange rate policies. Chapter 2 classifies exchange rates into flexible, intermediate and rigid arrangements. The book is subdivided into an arrangement of free float, managed float, pegged but adjustable, target zone, crawling peg, hard peg, currency board, dollarisation, and monetary union. This chapter also discusses hypothesis of vanishing intermediate exchange rate arrangements as well as it deals with differentiation between de jure, and de facto exchange rate arrangements. Chapter 3 deals with the issue of choosing an appropriate exchange rate arrangement. The book briefly characterises basic approaches of how to choose an exchange rate regime. Furthermore, the book reviews considerations stemming from the optimum currency area literature. Chapter 4 deals with problems of exchange rate, which were encountered by the most developed transition countries. After discussing the initial stabilisation problems of the early 1990s, it provides a general overview of the macroeconomic situation and exchange rates arrangements in these countries in the period 1990-2004. Also the book discusses issues connected with the future introduction of the euro into these countries. Chapter 5 provides the reader with two case studies. First, a discussion of the Czech experience in the transition period till the crisis in May 1997 is presented. Second, a discussion of the Hungarian experience concerning banking and exchange rate policy in the 1990s till the early years of this century. Finally, Chapter 6 discusses different historical periods from the viewpoint of currency arrangements.