Scenarios for the Future of the International Monetary System

Adrian Pop ()

Knowledge Horizons - Economics, 2016, vol. 8, issue 1, 80-83

Abstract: The paper argues that at present the overhaul of the global economic and financial architecture evolves on four different, although interdependent tracks: re-basing the international monetary system; recognizing the role of emerging economies in global governance; reinforcement of the special drawing rights (SDRs); and the restoration of the gold standard. The paper puts forward three scenarios for the evolution of the international monetary system, including the Repair and Improve Scenario, the Multi-polar/Bipolar Scenario, and the Renewed Multilateralism Scenario, underscoring that the Multi-polar Scenario is seen as the most likely in the medium term.

Keywords: International monetary system; international financial institutions; rising powers; scenarios (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:8:y:2016:i:1:p:80-83

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