Out-Of-The-Box Thoughts About The International Financial Architecture
AbstractThis paper contemplates ambitious reforms of the international financial architecture. It proposes routinising 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. All this of course presupposes meaningful IMF governance reform so that the institution has the legitimacy and efficiency to assume these additional responsibilities.
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Bibliographic InfoArticle provided by World Scientific Publishing Co. Pte. Ltd. in its journal Journal of International Commerce, Economics and Policy.
Volume (Year): 01 (2010)
Issue (Month): 01 ()
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Other versions of this item:
- Barry J. Eichengreen, 2009. "Out of the Box Thoughts about the International Financial Architecture," IMF Working Papers 09/116, International Monetary Fund.
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
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