The International Monetary System: Its Institutions and its Future

In: Springer eBook Collection

Abstract

The International Monetary Fund and the World Bank were created fifty years ago. Have they adapted efficiently to the changes that have taken place in the international monetary system since then, or should one contemplate significant changes in their statutes perhaps by merging the two institutions and letting some of their current functions be carried out by the private sector? What is the probable evolution of currency areas in the world, and what should be the relationship between the major currencies in the system? How do the transforming economies in Eastern Europe fit in? In this book, internationally recognized experts analyze these and related issues that are crucial for an understanding of the evolution and reform of the international monetary system and its institutions