Instabilities, Crises and Agenda for Possible Reform of the International Monetary System and the International Financial Architecture in the XXI Century

Amra Kozaric
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Amra Kozaric: University of Tuzla, Faculty of Economics

Economic Analysis, 2008, vol. 41, issue 1-2, 104-112

Abstract: Recent global, world occurrences (turbulence, volatility, risks, huge transaction costs, the weakness of public and private banking, financial structures, instabilities in the international financial activities and excessive international financial crises) made clearly, that the current international monetary system can't insure global stability and prosperity, neither the system can adapt to a more modern economic and social structure. Instabilities and unbalances, which characterised the system in the past century and at the beginning of the XXI century, have been brought by the economic globalization, in other words financial globalization. Intensive widespread of these instabilities, between developing countries and even to the industrialized world, have influenced on the international policymakers (called as the international financial institution) to start the initiatives about possible reform of the international monetary system and its international financial architecture.

Keywords: Instability; global economic system; International monetary system; international financial architecture (search for similar items in EconPapers)
JEL-codes: F33 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ibg:eajour:v:41:y:2008:i:1-2:p:104-112

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