Reform of the International Monetary System : A Jagged History and Uncertain Prospects

Reform of the International Monetary System : A Jagged History and Uncertain Prospects

This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current "non-system" and how the global economic c...

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Main Authors: Lin, Justin Yifu, Fardoust, Shahrokh, Rosenblatt, David
Format: Policy Research Working Paper
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ADVANCED ECONOMIES
DEVELOPING ECONOMIES
FUTURE GLOBAL FINANCIAL INSTABILITY
GLOBAL ECONOMY
INTERNATIONAL MONETARY SYSTEM
MULTIPOLAR REVERSE CURRENCY SYSTEM
NON-SYSTEM STABILITY
Online Access:http://documents.worldbank.org/curated/en/2012/05/16269960/reform-international-monetary-system-jagged-history-uncertain-prospects
http://hdl.handle.net/10986/9349
id okr-10986-9349
recordtype oai_dc
spelling okr-10986-93492021-04-23T14:02:45Z Reform of the International Monetary System : A Jagged History and Uncertain Prospects Lin, Justin Yifu Fardoust, Shahrokh Rosenblatt, David ADVANCED ECONOMIES DEVELOPING ECONOMIES FUTURE GLOBAL FINANCIAL INSTABILITY GLOBAL ECONOMY INTERNATIONAL MONETARY SYSTEM MULTIPOLAR REVERSE CURRENCY SYSTEM NON-SYSTEM STABILITY This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current "non-system" and how the global economic context is likely to affect that stability in the coming years with potential adverse effects on both advanced and developing economies. Given the likely trend toward a multi-polar reserve currency system, the paper evaluates the stability of the emerging system, as well as the current proposals for reform of the international monetary system. The paper concludes that more ambitious reforms of the system may be needed to meaningfully reduce future global economic and financial instability. 2012-06-29T21:53:45Z 2012-06-29T21:53:45Z 2012-05 http://documents.worldbank.org/curated/en/2012/05/16269960/reform-international-monetary-system-jagged-history-uncertain-prospects http://hdl.handle.net/10986/9349 English Policy Research Working Paper; No. 6070 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ADVANCED ECONOMIES
DEVELOPING ECONOMIES
FUTURE GLOBAL FINANCIAL INSTABILITY
GLOBAL ECONOMY
INTERNATIONAL MONETARY SYSTEM
MULTIPOLAR REVERSE CURRENCY SYSTEM
NON-SYSTEM STABILITY
spellingShingle ADVANCED ECONOMIES
DEVELOPING ECONOMIES
FUTURE GLOBAL FINANCIAL INSTABILITY
GLOBAL ECONOMY
INTERNATIONAL MONETARY SYSTEM
MULTIPOLAR REVERSE CURRENCY SYSTEM
NON-SYSTEM STABILITY
Lin, Justin Yifu
Fardoust, Shahrokh
Rosenblatt, David
Reform of the International Monetary System : A Jagged History and Uncertain Prospects
relation Policy Research Working Paper; No. 6070
description This paper analyzes the historical evolution of the international monetary system in the context of the rising role of developing countries in the world economy and the emerging multi-polar growth setting. It evaluates the stability of the current "non-system" and how the global economic context is likely to affect that stability in the coming years with potential adverse effects on both advanced and developing economies. Given the likely trend toward a multi-polar reserve currency system, the paper evaluates the stability of the emerging system, as well as the current proposals for reform of the international monetary system. The paper concludes that more ambitious reforms of the system may be needed to meaningfully reduce future global economic and financial instability.
format Publications & Research :: Policy Research Working Paper
author Lin, Justin Yifu
Fardoust, Shahrokh
Rosenblatt, David
author_facet Lin, Justin Yifu
Fardoust, Shahrokh
Rosenblatt, David
author_sort Lin, Justin Yifu
title Reform of the International Monetary System : A Jagged History and Uncertain Prospects
title_short Reform of the International Monetary System : A Jagged History and Uncertain Prospects
title_full Reform of the International Monetary System : A Jagged History and Uncertain Prospects
title_fullStr Reform of the International Monetary System : A Jagged History and Uncertain Prospects
title_full_unstemmed Reform of the International Monetary System : A Jagged History and Uncertain Prospects
title_sort reform of the international monetary system : a jagged history and uncertain prospects
publisher World Bank, Washington, DC
publishDate 2012
url http://documents.worldbank.org/curated/en/2012/05/16269960/reform-international-monetary-system-jagged-history-uncertain-prospects
http://hdl.handle.net/10986/9349
_version_ 1764409227476992000

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