International capital markets have grown to be a major force shaping today's world economy, presenting a range of opportunities and threats to developing countries. Capital market liberalization created large pools of much-needed capital that developing economies could access, but tapping these...

This study is meant to underline some contemporary and stringent global problems, related to the international monetary system area and its crises. In the last 3 decades, this subsystem of global economy becomes the most important and the most instable as well. The last contagious monetary or...

Over viewing the most recently evolutions throughout global economy, this study conceive that the collateral effects of economical globalization and market integration, represents the main issues debated in specialized professional or political circles. The unanimous impression underlines the...

This paper explains the evolution of the International Monetary Fund’s mandate and discusses its role in supporting countries experiencing a macroeconomic crisis. We consider the conditionality attached to its loans and why it is convenient in some regards. Even though its operations and...

This paper focuses on the requirements and features of a successful monetary union on the basis of the optimum currency area theory, the "logical roadmap" for integration as proposed by Balassa as well as the economic and institutional framework of the European Economic and Monetary Union (EMU)....

How do policy makers manage the decline of an international currency? This paper examines British policy towards the pound sterling's international role in the years 1968-74. Using previously uncited government archival sources, we revisit the view that the 'sterling agreements' of 1968-74,...

Oekonomische Entwicklungen werden oft durch Narrative, d. h. populaere bzw. allgemein verstaendliche und leicht wiedergebbare Erzaehlungen, Bilder sowie Interpretationen, beeinflusst. In Debatten ueber europaeische Integration, Staatsschuldenkrise und Loesungen zur Bewaeltigung der Coronakrise...

Financial sanctions, which aim to economically hurt a target by restricting its access to financial assets and markets, require the ability to identify who owns an asset. Although experts have long claimed that offshore financial centres that offer secrecy ('tax havens') undermine sanctions by...

In 1999, eleven European countries formed the Economic and Monetary Union (EMU); they abandoned their national currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by itself) to a sizable and statistically significant...

In a series of summits, leading countries of the world will meet to draw up an international arrangement for financial stability. Such a rule system should prevent a financial crisis as we have seen it in 2007 and 2008. It should include appropriate principles of monetary policy, rules for...