Sangam: A Confluence of Knowledge Streams

Resetting the International Monetary (Non)System

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dc.creator Antonio Ocampo, José
dc.date 2021-02-10T12:58:18Z
dc.date 2017-11-01 23:55:55
dc.date 2018-10-03 09:09:28
dc.date 2020-04-01T13:21:29Z
dc.date 2017
dc.date.accessioned 2023-02-17T21:39:09Z
dc.date.available 2023-02-17T21:39:09Z
dc.identifier 640315
dc.identifier OCN: 1009618744
dc.identifier http://library.oapen.org/handle/20.500.12657/31029
dc.identifier https://directory.doabooks.org/handle/20.500.12854/26184
dc.identifier https://library.oapen.org/bitstream/20.500.12657/31029/1/640315.pdf
dc.identifier https://library.oapen.org/bitstream/20.500.12657/31029/1/640315.pdf
dc.identifier https://library.oapen.org/bitstream/20.500.12657/31029/1/640315.pdf
dc.identifier https://library.oapen.org/bitstream/20.500.12657/31029/1/640315.pdf
dc.identifier.uri http://localhost:8080/xmlui/handle/CUHPOERS/248806
dc.description This 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.
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dc.language eng
dc.publisher Oxford University Press
dc.relation WIDER Studies in Development Economics
dc.rights open access
dc.subject sovereign debt workout
dc.subject bretton woods
dc.subject monetary reform
dc.subject special drawing rights
dc.subject international monetary system
dc.subject macroeconomic policy cooperation
dc.subject Balance of payments
dc.subject Capital account
dc.subject Developed country
dc.subject Developing country
dc.subject Exchange rate
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KC Economics
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCB Macroeconomics
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCB Macroeconomics::KCBM Monetary economics
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCL International economics::KCLF International finance
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCM Development economics & emerging economies
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCX Economic & financial crises & disasters
dc.subject bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance
dc.title Resetting the International Monetary (Non)System
dc.resourceType book
dc.alternateIdentifier 9780198718116
dc.alternateIdentifier 10.1093/oso/9780198718116.001.0001
dc.licenseCondition open access
dc.licenseCondition n/a
dc.licenseCondition n/a
dc.licenseCondition n/a
dc.licenseCondition n/a
dc.identifierdoi 10.1093/oso/9780198718116.001.0001
dc.relationisPublishedBy db4e319f-ca9f-449a-bcf2-37d7c6f885b1
dc.relationisbn 9780198718116
dc.pages 304
dc.relationisFundedBy UNU WIDER


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