Reforming the International Monetary and Financial System.

Intro -- Contents -- Preface -- Acknowledgments -- Abbreviations -- Contributors -- PART I. KEY ISSUES OF REFORM -- 1 Overview -- 2 International Financial and Monetary Stability: A Global Public Good -- PART II. MAINTAINING STABILITY UNDER HIGH CAPITAL MOBILITY -- 3 The Euro, Yen, and Dollar: Making the Case Against Benign Neglect -- Comments: Let Exchange Rates Float -- Comments: Foreign Exchange Origins of Japan's Liquidity Trap -- Comments: The Case for Benign Neglect -- 4 Moderating Fluctuations in Capital Flows to Emerging Market Economies -- Comments: Lessons from the Czech Experience -- Comments: Emerging Market Crises: Origins and Remedies -- Comments: Who Is to Blame for the Crises? -- Comments: Policy Options for Capital Importers -- 5 When Capital Inflows Suddenly Stop: Consequences and Policy Options -- Comments: The Balance Between Adjustment and Financing -- Comments: The Balance Between Structural and Macroeconomic Adjustment -- Comments: Can the Right Balance Be Achieved? -- Comments: On Dysfunctional Adjustment and Financing -- 6 Is Greater Private Sector Burden Sharing Impossible? -- Comments: Private Sector Participation in Crisis Prevention and Resolution -- Comments: On Debt Management and Collective-Action Clauses -- Comments: More Private Sector Involvement and Less Official Financing -- Comments: Private Sector Burden Sharing -- PART III. THE ROLE OF THE INTERNATIONAL MONETARY FUND -- Comments: 7 The Role of IMF Advice: A Postcrisis Examination Takatoshi Ito -- Comments: Evaluating IMF Programs -- Comments: The Case of Thailand -- Comments: A Mixed Record for IMF Advice -- Comments: Mexico as a Benchmark Case -- Comments: 8 Refocusing the Role of the International Monetary Fund -- Comments: On the Financial Role of the IMF -- Comments: The Low-Income Countries' Stake in IMF Reform.