The dynamic process of integration of national economies has a long history, with two distinct waves: one, from the middle of the 19th century until its interruption with outbreak of the First World War in 1913 till the end of the Second World War in 1945. The second wave is ongoing dating from...

Something has gone terribly wrong with the world's monetary system. It's evident that some kind of fundamental reform needs to be implemented. The question is: Can governments be trusted to issue sound money, or is money too important to be left to the politicians?Is it reasonable to expect...

Most projections envision continued rapid growth in the members of the Association of Southeast Asian Nations (ASEAN), the People's Republic of China (PRC), and India (collectively, ACI) over the next two decades. By 2030, they could quadruple their output, virtually eliminate extreme poverty,...

The global economy has built a tangled and tortuous financial system model at a pace arduous to manage. After the financial crisis which was widely recognized in 2008, the International Monetary Fund (IMF) made several attempts to create an effective financial system. However, the organization...

The paper examines the extent to which the membership of Indonesia and South Africa in G 20 can be leveraged to the benefit of not only the two countries but also Asia and African population as a whole. The paper explores the process that has led to the emergence of what some today call the New...

Based on a classification of countries and territories according to their regime and anchor currency choice, the study considers the two major currency blocs of the present world. A nested logit regression suggests that long-term structural economic variables determine a given country's currency...

Crisis may become a change catalyst, just as the collapse of the Bretton Woods monetary system and the oil crisis of 1973 led to the establishment of the G4 and its subsequent development. Similarly, the 2007-2008 crisis was a turning point for the G20 cooperation framework. A coincidence of a...

Collective Action Clauses (CACs) are back at the forefront of financial crisis response, this time in Europe. In the absence of a sovereign bankruptcy regime, CACs help solve coordination problems in sovereign bonds by binding all bondholders to the terms of a debt restructuring approved by the...