International Financial Institutions: Architecture, Flaws, and Legitimacy

Felix I. Lessambo

Chapter Chapter 1 in International Financial Institutions and Their Challenges, 2015, pp 3-8 from Palgrave Macmillan

Abstract: Abstract International financial institutions need to be adjusted to the needs and challenges of the twenty-first century. Today’s economy differs significantly from the world status of economy of the 1940s, which led to the creation of the Bretton Woods System and most of the existing international financial institutions. The globalization of financial markets, the debt crisis, cross-border flows of capital, and the rise of new economic powers have weakened the current system.

Keywords: Monetary Policy; Central Bank; International Monetary Fund; Current Account Deficit; International Financial Institution (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-52270-2_1

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DOI: 10.1057/9781137522702_1

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