Autore
Sau, Lino

Titolo
Do the International Monetary and Financial Systems Need More than Short-Term Cosmetics Reforms?
Periodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper series
Anno: 2014 - Volume: 10 - Fascicolo: 26 - Pagina iniziale: 1 - Pagina finale: 31

The storm that has rocked our world has opened an interesting debate among economists and policy makers concerning with the need of a new international monetary and financial architecture. The monetary and financial regime that has been in force since the collapse of Bretton Woods (B-W), encourages indeed the persistence of unsustainable dynamics which spawn increasingly serious crises and it is unable of imparting an acceptable macro-economic discipline device to the world's economy. It became apparent that the global role of a key currency along with the deregulation of financial markets (neo-liberal paradigm) have acted as underlying conditions for the US financial crisis up to present situation and the following contagion to Europe. In this paper I point out the inadequacy of the institutional arrangements underlying the international monetary and financial regimes and I outline the relevance to the current debate of Keynes original plan, suggested rightly 70 years ago, that never born.



Testo completo: http://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2014dip/wp_26_2014.pdf

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