TY  - BOOK
ED  - Werker, Eric
ED  - Sen Lant Pritchett, Kunal
AB  - "International financial crises have plagued the world in recent decades, including the Latin American debt crisis of the 1980s, the East Asian crisis of the late twentieth century, and the global financial crisis of 2007-09. One of the basic problems faced during these crises is the lack of adequate  preventive mechanisms, as well as insufficient instruments to finance countries in crisis and to overcome their over-indebtedness. Resetting the  International Monetary (Non)System provides an analysis of the global monetary system and the necessary reforms that it should undergo to play  an active role in the twenty-first century and proposes a comprehensive yet evolutionary reform of the system.  Criticising the ad hoc framework- a ""(non)system""- that has evolved following the breakdown of the Bretton Woods arrangement in the early  1970's, Resetting the International Monetary (Non)System places a special focus on the asymmetries that emerging and developing countries face,  analysing the controversial management of crises by the International Monetary Fund and proposing a consistent set of reform proposals to design  a better system of international monetary cooperation. Policy orientated and structured to deal in a sequential way with the issues involved, it  suggests provision of international liquidity through a system that mixes the multicurrency arrangement with a more active use of the IMF's Special  Drawing Rights; stronger mechanisms of macroeconomic policy cooperation, including greater cooperation in exchange rate management and  freedom to manage capital flows; additional automatic balance-of-payments financing facilities and the complementary use of swap and regional  arrangements; a multilateral sovereign debt workout mechanism; and major reforms of the system's governance."
DO  - 10.1093/oso/9780198801641.001.0001
ID  - OAPEN ID: 640293
ID  - OAPEN ID: OCN: 988170210
KW  - economics
KW  - monetary economics
KW  - Ghana
KW  - Gross domestic product
KW  - Liberia
KW  - Malaysia
KW  - Thailand
KW  - Uganda
L1  - https://library.oapen.org/bitstream/id/604ea322-5cdc-43f2-a436-bfb51f90d43e/640293.pdf
LA  - English
LK  - http://library.oapen.org/handle/20.500.12657/31035
PB  - Oxford University Press
PY  - 2017
SN  - 9780198801641
TI  - Deals and Development : The Political Dynamics of Growth Episodes
ER  - 
