Reforming the International Financial System

INTERECONOMICS, Vol 44, No.2, March/April 2009                                                                               

Selected articles contributed by CEPS free in PDF; others may be purchased individually (or the entire contents of the journal) from

Forum: Reforming the International Financial System

by Daniel Gros, Ulrich Klüh and Beatrice Weder di Mauro

Daniel Gros, Ulrich Klüh and Beatrice Weder di Mauro regard as the biggest flaw in the existing structures the lack of an institution that has the information, expertise and impartiality that would enable it to swiftly identify and frankly communicate emerging risks to the global financial system and the world economy. They present a proposal that aims at placing the IMF in a position to play this part.

Forum: Global Imbalances and Global Governance

by Philip R. Lane

The paper by Philip Lane focuses on how reforms in the governance of the global financial system may alter the incentives facing those emerging market economies that have opted to run large – and globally inefficient – current account surpluses as insurance against the risks of disruptions in capital flows to these economies.

A selected article can be downloaded separately:

Distributional Issues in the Context of the Economic Crisis in Europe

by Andrew Watt


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