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dc.contributor.authorAntonio Ocampo, José
dc.date.accessioned2017-11-01 23:55:55
dc.date.accessioned2018-10-03 09:09:28
dc.date.accessioned2020-04-01T13:21:29Z
dc.date.available2020-04-01T13:21:29Z
dc.date.issued2017
dc.identifier640315
dc.identifierOCN: 1009618744en_US
dc.identifier.urihttp://library.oapen.org/handle/20.500.12657/31029
dc.description.abstractThis book 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. As its title indicates, its basic diagnosis is that it is an ad hoc framework rather than a coherent system—a ‘non-system’—which evolved after the breakdown of the original Bretton Woods arrangement in the early 1970s. The book places a special focus on the asymmetries that emerging and developing countries face within the current system, and therefore on the development dimensions of the global monetary system and of global monetary reform. The book proposes a comprehensive yet evolutionary reform of the system that includes: (i) provision of international liquidity through a system that mixes the multi-currency arrangement with a more active use of the IMF’s Special Drawing Rights (SDRs), the only true global currency that has been created; (ii) stronger mechanisms of macroeconomic policy cooperation, including greater cooperation in exchange rate management, and freedom to manage capital flows as a complement to counter-cyclical macroeconomic policy and other instruments of financial regulation; (iii) additional automatic balance-of-payments financing facilities, and the complementary use of swap and regional arrangements; (iv) a multilateral sovereign debt workout mechanism; and (v) major reforms of the system’s governance, based on a more representative apex organization, more equitable participation of emerging and developing countries in decision-making, and a network of global, regional, inter-regional, and sub-regional organizations.
dc.languageEnglish
dc.relation.ispartofseriesWIDER Studies in Development Economics
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economicsen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomicsen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economicsen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economicsen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economiesen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCX Economic and financial crises and disastersen_US
dc.subject.classificationthema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industryen_US
dc.subject.othersovereign debt workout
dc.subject.otherbretton woods
dc.subject.othermonetary reform
dc.subject.otherspecial drawing rights
dc.subject.otherinternational monetary system
dc.subject.othermacroeconomic policy cooperation
dc.subject.otherBalance of payments
dc.subject.otherCapital account
dc.subject.otherDeveloped country
dc.subject.otherDeveloping country
dc.subject.otherExchange rate
dc.titleResetting the International Monetary (Non)System
dc.typebook
oapen.identifier.doi10.1093/oso/9780198718116.001.0001
oapen.relation.isPublishedByb9501915-cdee-4f2a-8030-9c0b187854b2
oapen.relation.isFundedByc9be6ad3-6692-452d-a1f3-a3e6c74f0fe2
oapen.relation.isbn9780198718116
oapen.pages304
oapen.remark.publicRelevant Wikipedia pages: Balance of payments - https://en.wikipedia.org/wiki/Balance_of_payments; Capital account - https://en.wikipedia.org/wiki/Capital_account; Developed country - https://en.wikipedia.org/wiki/Developed_country; Developing country - https://en.wikipedia.org/wiki/Developing_country; Exchange rate - https://en.wikipedia.org/wiki/Exchange_rate; International Monetary Fund - https://en.wikipedia.org/wiki/International_Monetary_Fund; Macroeconomics - https://en.wikipedia.org/wiki/Macroeconomics; Special drawing rights - https://en.wikipedia.org/wiki/Special_drawing_rights
oapen.identifier.ocn1009618744


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