International Policy Coordination: The Long View
In: Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century
This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First, when it centers on technical issues. Second, when cooperation is institutionalized - when procedures and precedents create presumptions about the appropriate conduct of policy and reduce the transactions costs of reaching an agreement. Third, when it is concerned with preserving an existing set of policies and behaviors (when it is concerned with preserving a policy regime). Fourth, when it occurs in the context of broad comity among nations. These points are elaborated through a review of 150 years of historical experience and then used to assess the scope for cooperative responses to the current economic crisis.
(This abstract was borrowed from another version of this item.)
|This chapter was published in: ||This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number
12578.||Handle:|| RePEc:nbr:nberch:12578||Contact details of provider:|| Postal: |
Web page: http://www.nber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Meissner, Christopher M., 2005. "A new world order: explaining the international diffusion of the gold standard, 1870-1913," Journal of International Economics, Elsevier, vol. 66(2), pages 385-406, July.
- Gallarotti, Guilio M., 1995. "The Anatomy of an International Monetary Regime: The Classical Gold Standard 1880-1914," OUP Catalogue, Oxford University Press, number 9780195089905, March.
- Marc Flandreau, 1997.
"Central Bank Cooperation in Historical Perspective: A Sceptical View,"
Economic History Review,
Economic History Society, vol. 50(4), pages 735-763, November.
- Marc Flandreau, 1997. "Central Bank Co-operation in Historical Perspective: a Sceptical View," Sciences Po publications info:hdl:2441/648, Sciences Po.
- Nikolaus Wolf, 2010.
"Europe's Great Depression: coordination failure after the First World War,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 26(3), pages 339-369, Autumn.
- Wolf, Nikolaus, 2010. "Europe’s Great Depression: Coordination Failure after the First World War," CEPR Discussion Papers 7957, C.E.P.R. Discussion Papers.
- Nikolaus Wolf, 2010. "Europe's Great Depression - Coordination Failure after the First World War," CESifo Working Paper Series 3164, CESifo Group Munich.
- repec:cup:cbooks:9780521845519 is not listed on IDEAS
- repec:cup:cbooks:9780521792677 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:nbr:nberch:12578. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.