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International monetary system – between crisis and reform

Author

Listed:
  • Ramona ORĂŞTEAN

    (“Lucian Blaga” University of Sibiu)

  • Silvia MĂRGINEAN

    (“Lucian Blaga” University of Sibiu)

Abstract

The 2008 global crisis that hit in the heart of the system highlighted main deficiencies and vulnerabilities of the current international monetary system and revived the old concerns about its functioning. The reform of the international monetary system is under discussion again after a long period, during the ’90 crises, especially in Southeast Asia, Russia and Brazil. To explain the relation between crisis and reform, this paper identifies some variables and hypotheses. It also analyses the matters that have sparked interest in reforming the international monetary system, in the context of the causes of the crisis and its vulnerabilities, admitting that the current system is not a perfect one. The paper concludes that it is time for a deep reform of the international monetary system.

Suggested Citation

  • Ramona ORĂŞTEAN & Silvia MĂRGINEAN, 2013. "International monetary system – between crisis and reform," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(8(585)), pages 137-147, August.
    • Handle: RePEc:agr:journl:v:xx:y:2013:i:8(585):p:137-147
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