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Whither Macro-economic Policy Co-ordination?

In: Evolution of the International and Regional Monetary Systems

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  • John Williamson

Abstract

One of the major professional accomplishments of Robert Triffin was his success in propagating the concept of a managed reserve system as an instrument for exerting a stabilising influence on the behaviour of the global economy. That vision inspired the work of the Committee of Twenty. As we all know, and at least some of us regret, the C-20 did not succeed in reaching agreement on a reformed international monetary system. Instead, the regime degenerated into what could only be described as a non-system, which reached its extreme form with the aggressive unilateralism practised by the first Reagan administration.

Suggested Citation

  • John Williamson, 1991. "Whither Macro-economic Policy Co-ordination?," Palgrave Macmillan Books, in: Alfred Steinherr & Daniel Weiserbs (ed.), Evolution of the International and Regional Monetary Systems, chapter 2, pages 10-25, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11061-2_2
    DOI: 10.1007/978-1-349-11061-2_2
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