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Written by Margaret Garritsen de Vries, former Historian of the IMF, the book describes the policies and activities the IMF has pursued in helping members achieve balane of payments adjustment. Separate treatment is given to industrial and developing countries, since their balance of payments...
Persistent link: https://www.econbiz.de/10014400477
The relationship between the Bretton Woods institutions and Africa began in the 1980s as a result of the international … countries in Africa had to meet in order to to be given credit facilities. It has been argued that most of these conditions were … argue that some of these conditions have improved the economic situation in Africa. Further, I also argue that the credit …
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This paper challenges the prevailing view in the sovereign debt literature by arguing that sovereign debt markets, in many respects, behave similarly to other credit markets. These markets are hierarchical rather than flat, inherently hybrid in nature, blending elements of public order and...
Persistent link: https://www.econbiz.de/10015152671
This paper proposes a comprehensive yet evolutionary reform of the global monetary non-system that evolved out of the breakdown of the original Bretton Woods arrangement in the early 1970s. It includes: (i) a global reserve system that mixes the multi-currency arrangement with an active use of...
Persistent link: https://www.econbiz.de/10011417842
What explains the US dollar's role in the global economy and the tensions affecting its likely persistence? Most analyses start from Triffin's dilemma, which accurately captured specific but partial tensions of a global monetary system based on essentially fixed exchange rates, gold backing for...
Persistent link: https://www.econbiz.de/10014631644
This paper analyses the history and effectiveness of the two major mechanisms of resolution of balance of payments crisis. It argues that IMF lending has met its counter-cyclical objectives through history and has been improving in terms of providing adequate lending facilities as well as...
Persistent link: https://www.econbiz.de/10010465432
A meeting of international finance and insolvency experts was held on November 2, 2013 at the Annenberg House in Santa Monica, California. The meeting was co-hosted by the USC Law School and the Annenberg Retreat at Sunnylands. The goal was to solicit the views of experts on the implications of...
Persistent link: https://www.econbiz.de/10013062029
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