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Possible Means And Solutions For Avoiding Currency Wars

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  • Mihai Dragu

    (University of Craiova Faculty of Economics and Business Administration)

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    Abstract

    What is needed is a coordinated plan of action, involving all trading partners to ensure a balanced global recovery. The plan must address three interconnected issues: the exchange rate system, global imbalances and excessive reserve accumulation. Few solutions in response to these issues: - create an emergency markets reserve fund, from which member countries would be able to withdraw with no conditionality; - create a global governance mechanism to prevent countries from running excessive current account imbalances; - give surplus countries greater exchange rate flexibility; - enhance the role of the renminbi as an international currency; - strengthen the capacity of IMF to act as a lender of last resort, allowing it to lend to solvent countries against collaterals.

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    File URL: http://feaa.ucv.ro/AUCSSE/0039v1-032.pdf
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    Bibliographic Info

    Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Annals of Computational Economics.

    Volume (Year): 1 (2011)
    Issue (Month): 39 ()
    Pages: 211-216

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    Handle: RePEc:aio:aucsse:v:1:y:2011:i:39:p:211-216

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    Related research

    Keywords: currency wars; stability; global governance; global imbalances;

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    1. Bas B. Bakker & Giovanni Dell'Ariccia & Luc Laeven & Jérôme Vandenbussche & Deniz Igan & Hui Tong, 2012. "Policies for Macrofinancial Stability," IMF Staff Discussion Notes 12/06, International Monetary Fund.
    2. Botman, Dennis & Edison, Hali & N'Diaye, Papa, 2009. "Strategies for fiscal consolidation in Japan," Japan and the World Economy, Elsevier, vol. 21(2), pages 151-160, March.
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