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Financial Stability Paper No 13: Reform of the International Monetary and Financial System

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  • Bush, Oliver

    (Bank of England)

  • Farrant, Katie

    (Bank of England)

  • Wright, Michelle

    (Bank of England)

Abstract

The financial crisis has imposed large costs on the global economy and revealed deficiencies in policy frameworks around the world. While the ongoing reforms to financial regulation aim to make the financial system more resilient, they cannot eliminate all the risks associated with large global capital flows. This paper argues that broader reforms to the International Monetary and Financial System (IMFS) are also required.

Suggested Citation

  • Bush, Oliver & Farrant, Katie & Wright, Michelle, 2011. "Financial Stability Paper No 13: Reform of the International Monetary and Financial System," Bank of England Financial Stability Papers 13, Bank of England.
    • Handle: RePEc:boe:finsta:0013
    Note: http://www.bankofengland.co.uk/financialstability/Pages/fpc/fspapers/fs_paper13.aspx
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    Cited by:

    1. Miyajima, Ken & Mohanty, M.S. & Chan, Tracy, 2015. "Emerging market local currency bonds: Diversification and stability," Emerging Markets Review, Elsevier, vol. 22(C), pages 126-139.
    2. Victor Pontines & Reza Siregar, 2012. "Exchange Rate Appreciation, Capital Flows and Excess Liquidity: Adjustment and Effectiveness of Policy Responses," Research Studies, South East Asian Central Banks (SEACEN) Research and Training Centre, number rp87.
    3. Rakesh Mohan & Michael Debabrata Patra & Muneesh Kapur, 2013. "The International Monetary System: Where Are We and Where Do We Need to Go?," IMF Working Papers 2013/224, International Monetary Fund.
    4. Philip Turner, 2013. "Caveat creditor," BIS Working Papers 419, Bank for International Settlements.
    5. Stracca, Livio & Lo Duca, Marco, 2014. "The effect of G20 summits on global financial markets," Working Paper Series 1668, European Central Bank.
    6. Denbee, Edd & Jung, Carsten & Paternò, Francesco, 2016. "Stitching together the global financial safety net," Bank of England Financial Stability Papers 36, Bank of England.
    7. D. Essers & E. Vincent, 2017. "The global financial safety net :In need of repair ?," Economic Review, National Bank of Belgium, issue ii, pages 87-112, september.
    8. Speller, William & Thwaites, Gregory & Wright, Michelle, 2011. "Financial Stability Paper No 12: The Future of International Capital Flows," Bank of England Financial Stability Papers 12, Bank of England.
    9. Ovidiu Stoica & Iulian Ihnatov, 2016. "Exchange Rate Regimes And External Financial Stability," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 61(209), pages 27-44, April - J.
    10. Kristoffer Mousten Hansen, 2020. "The Populist Case for the Gold Standard," Post-Print hal-03480314, HAL.

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    Keywords

    international; monetary system;

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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