Challenges in IMS Reforms: A Global and Emerging Markets Perspective
AbstractThe current global financial crisis has reopened an old debate on the international monetary system by baring weaknesses and flaws that have long been known. The debate is centred on both stability and equity. International co-operation is necessary to resolve a complex interplay of several interrelated problems. The G 20 seems to be better positioned than the IMF arrive at some international consensus on these issues. However, while there has been some progress, the big issues of moral hazard and inequities deriving from the global reserve currency seem intractable. With the macro-economic framework under great strain, we may indeed be poised for a leap into the dark going forward. Since solutions seem elusive, even as everybody is agreed that there is a major problem, discussion and debate are crucial. [Policy Series No. 11]. URL:[http://www.icrier.org/pdf/Policy_Series_No_11.pdf].
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Bibliographic InfoPaper provided by eSocialSciences in its series Working Papers with number id:4702.
Date of creation: Jan 2012
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Note: Institutional Papers
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Web page: http://www.esocialsciences.org
International Monetary Arrangements; Institutions; International Lending; Debt Problems; Open Economy Macroeconomics; International Policy Coordination; Transmission; Financial Crisis; International Financial Market; Government Policy and Regulation; global financial markets; IMF; G 20;
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