Monetary sovereignty and its surrender -- Institutional developments to promote monetary stability -- Institutional design of supervision -- Banking crises and stability of the financial system -- Monetary and financial law reform in emerging economies -- History of monetary integration in...

This paper outlines legal developments related to floating currencies, gold, and special drawing rights (SDRs) in the IMF. The Articles of the Fund require each member to establish a par value for its currency in terms of gold as a common denominator. Alternatively, the par value may be...