From a Centralized to a Decentralized Global Economic Architecture : An Overview
AbstractThis paper argues that calls for a New Bretton Woods system in the aftermath of the global economic crisisâ€”similar to the remarkable 1944 Bretton Woods conference that led to the establishment of various international economic institutionsâ€”are unlikely to be answered. The likely scenario is that the centralized architecture from before the global economic crisis will evolve toward a more decentralized and multilayered global architecture where regional institutions are linked together to a â€œseniorâ€ global organization in a complementary manner by rules and regulations. The paper also highlights the new regional institutions that Asia needs to establish to contribute to this evolving global economic architecture.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Governance Working Papers with number 23386.
Date of creation: Jan 2013
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Global Economic Crisis; regional institutions; Asia; G20; G7; G8; Global economic architecture;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- 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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