IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/18453.html
   My bibliography  Save this paper

A New World Monetary System: Keynes' view revisited

Author

Listed:
  • Mohammed, Shehu Tijjani

Abstract

This essay critically examines the view of Keynes on the reform of the international monetary system. We then apply modern monetary and banking theory, where money is redefined as a pure numerical vehicle in contrast to money being defined as a net asset, to appraise those elements that are required for a functioning and efficient international monetary system. It is suggested that Keynes’ view are still very much relevant today if the world is to move from the present non-system of international monetary arrangements to a system where currencies would no longer be perceived as net assets and countries would no longer be grouped as key and non-key currency countries.

Suggested Citation

  • Mohammed, Shehu Tijjani, 2009. "A New World Monetary System: Keynes' view revisited," MPRA Paper 18453, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:18453
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/18453/1/MPRA_paper_18453.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(4), pages 872-873, October.
    2. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(4), pages 855-859, October.
    3. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(3), pages 616-621, July.
    4. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(1), pages 193-196, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ana Kristel Lapid & Rogelio Mercado & Peter Rosenkranz, 2023. "Concentration in Asia's cross‐border banking: Determinants and impacts," Pacific Economic Review, Wiley Blackwell, vol. 28(2), pages 267-292, May.
    2. Nabi, Ijaz & Malik, Abdul & Hattari, Rabin & Husain, Turab & Shafqat, Adeel & Anwaar, Sana & Rashid, Ammar, 2010. "Economic growth and structural change in South Asia: miracle or mirage?," LSE Research Online Documents on Economics 36389, London School of Economics and Political Science, LSE Library.
    3. Anthony M. Solomon, 1983. "Toward a more resilient international financial system," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 7(Sum).
    4. Mr. James M. Boughton, 2002. "On the Origins of the Fleming-Mundell Model," IMF Working Papers 2002/107, International Monetary Fund.
    5. Şerife Özşahin & Gülbahar Üçler, 2017. "The Consequences of Corruption on Inflation in Developing Countries: Evidence from Panel Cointegration and Causality Tests," Economies, MDPI, vol. 5(4), pages 1-15, December.
    6. Ansari, S. A. & Khan, W., 2018. "Relevance of Declining Agriculture in Economic Development of South Asian Countries: An Empirical Analysis," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 10(2).
    7. Ryan Federo & Angel Saz‐Carranza, 2020. "A typology of board design for highly effective monitoring in intergovernmental organizations under the United Nations system," Regulation & Governance, John Wiley & Sons, vol. 14(2), pages 344-361, April.
    8. Doessel, Darrel & Valadkhani, Abbas, 2003. "The Demand for Current Public Expenditure in Fiji: Theory and Empirical Results," MPRA Paper 50392, University Library of Munich, Germany.
    9. Krasnopjorovs, Olegs, 2013. "Latvijas ekonomikas izaugsmi noteicošie faktori [Factors of Economic Growth in Latvia]," MPRA Paper 47550, University Library of Munich, Germany.
    10. John H. Boyd & David S. Dahl & Carolyn P. Line, 1983. "A primer on the International Monetary Fund," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 7(Sum).
    11. Lars Osberg & Andrew Sharpe, 2003. "Human Well-being and Economic Well-being: What Values Are Implicit in Current Indices?," CSLS Research Reports 2003-04, Centre for the Study of Living Standards.
    12. Mr. Ken Miyajima, 2007. "What Do We Know About Namibia’s Competitiveness?," IMF Working Papers 2007/191, International Monetary Fund.
    13. Kashif Munir & Shahzad Arshad, 2018. "Factor accumulation and economic growth in Pakistan: incorporating human capital," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 45(3), pages 480-491, March.
    14. Houck, James P., 1973. "Some Aspects Of Income Stabilization For Primary Producers," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 17(3), pages 1-16, December.
    15. Acosta, Juan & Cherrier, Beatrice, 2018. "The transformation of economic analysis at the Federal Reserve during the 1960s," SocArXiv vdy2z, Center for Open Science.
    16. Karen Taylor & Craig Tipping & Adam McKissack, 2004. "IMF Quotas, Representation and Governance," Treasury Working Papers 2004-03, The Treasury, Australian Government, revised Nov 2004.
    17. Ilse Mintz, 1967. "Traditional versus Expansionist Views on Export Changes During Business Cycles," NBER Chapters, in: Cyclical Fluctuations in the Exports of the United States since 1879, pages 3-26, National Bureau of Economic Research, Inc.
    18. Sayeeda Bano, 2014. "An Empirical Examination of Trade Relations between New Zealand and China in the Context of a Free Trade Agreement," Working Papers in Economics 14/04, University of Waikato.
    19. Sushanta Mallick, 2001. "Dynamics of Macroeconomic Adjustment with Growth: Some Simulation Results," International Economic Journal, Taylor & Francis Journals, vol. 15(1), pages 115-139.
    20. James M. Boughton, 2003. "On the Origins of the Fleming-Mundell Model," IMF Staff Papers, Palgrave Macmillan, vol. 50(1), pages 1-1.

    More about this item

    Keywords

    Monetary System; Bank Money; Absolute Exchange Rate;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:18453. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.