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.)
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- 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.
- Marc Flandreau, 1997. "Central Bank Co-operation in Historical Perspective: a Sceptical View," Sciences Po publications info:hdl:2441/648, Sciences Po.
- Gallarotti, Guilio M., 1995. "The Anatomy of an International Monetary Regime: The Classical Gold Standard 1880-1914," OUP Catalogue, Oxford University Press, number 9780195089905.
- 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. Full references (including those not matched with items on IDEAS)
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