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long-term evolution of the balance of economic weight in the world economy. Such an evolution may mitigate some flaws of …
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This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account liberalisation and internationalisation of the use of the renminbi. After a slowdown in reform momentum during the global financial crisis, there is a clear push towards reform,...
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The world economy is going through its biggest transformation in a relatively short space time. There have been many … seems little understood. In turn, there has been little preparation for, or adjustment to, this changing world, though if …. We highlight the dramatic degree of the shifts taking place in world GDP and trade and include fresh projections of what …
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The Bretton Woods international financial system, which was in place from roughly 1949 to 1973, is the most significant modern policy experiment to attempt to simultaneously manage international payments, international capital flows, and international currency values. This paper uses an...
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