Description
This volume is a contribution to the debates surrounding international monetary reform. The author examines and analyses the workings of the International Monetary Fund (IMF) and suggests how the international monetary system could, through changes to the IMF, be reshaped and reformed.
Chapters examine the Palais-Royal report, explain how the IMF could be granted unlimited bailout powers to confront a global crisis, propose an exchange-rate based mechanism by which the international community could discipline excessive imbalances, examine alternative possibilities for the supply of future reserves, advocate `enthronement of the Special Drawing Right’, and discuss the obstacles in the way of such an ambitious reform agenda.
Table of Contents
Chap.1 – Introduction Chap.2 - The Palais-Royal report Chap.3 – When to Adjust Chap.4 – How to Adjust Chap.5 – The Question of Reserves Chap.6 – The Case for a Lender of Last Resort Chap. 7 – Negotiating the Changes Chap.8 – Legislating the Changes Chap.9 – The Operation of a Reformed System Chap.10 – Conclusion
