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For a Better International Monetary System: An Emerging Economy Perspective

Author

Listed:
  • Kim Kyung Soo

    (Sungkyunkwan University)

  • Chey Hyoung kyu

    (National Graduate Institute for Policy Studies)

Abstract

The recent global crisis has demonstrated strongly that a systemic crisis victimizes a large number of innocent crisis “bystanders.” In order to prevent global crisis recurrence, and avoid victimization of such innocent crisis bystanders, the global financial safety net needs to be substantially strengthened. In this regard, assigning greater roles to central banks in addressing systemic crises seems one noteworthy option having several significant advantages.

Suggested Citation

  • Kim Kyung Soo & Chey Hyoung kyu, 2012. "For a Better International Monetary System: An Emerging Economy Perspective," GRIPS Discussion Papers 11-29, National Graduate Institute for Policy Studies.
    • Handle: RePEc:ngi:dpaper:11-29
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    References listed on IDEAS

    as
    1. Aizenman, Joshua & Pasricha, Gurnain, 2009. "Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation," Santa Cruz Department of Economics, Working Paper Series qt2vw7s14s, Department of Economics, UC Santa Cruz.
    2. Aizenman, Joshua & Pasricha, Gurnain Kaur, 2010. "Selective swap arrangements and the global financial crisis: Analysis and interpretation," International Review of Economics & Finance, Elsevier, vol. 19(3), pages 353-365, June.
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