Learning from the global economic crisis

Cayetano Paderanga

Philippine Review of Economics, 2011, vol. 48, issue 1, 35-70

Abstract: The world needs an international monetary system that promotes global price stability, facilitates world economic growth, and ensures global financial stability. Global crises provide rare opportunities in reforming the international monetary system. The ability to provide adequate liquidity, timely and adequate adjustment of imbalances, and reduced risk has proven to be elusive under the current system centered on the US dollar. The stability of the global economic system, in effect, hinges on the United States being the deficit country of last resort. There is a need for fundamental reforms in the current dollar-centric system. This paper presents proposals for reformation of the international monetary system.

Keywords: international monetary system; global crises; reform of international monetary system (search for similar items in EconPapers)
JEL-codes: F36 F42 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://pre.econ.upd.edu.ph/index.php/pre/article/view/660/766 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:phs:prejrn:v:48:y:2011:i:1:p:35-70

Access Statistics for this article

More articles in Philippine Review of Economics from University of the Philippines School of Economics and Philippine Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by HR Rabe ().