Template-type: ReDIF-Paper 1.0
Author-Name: Sau, Lino
Author-Email: lino.sau@unito.it
Author-Workplace-Name: University of Turin
Author-Workplace-Homepage: http://www.de.unito.it/
Title: Do the International Monetary and Financial Systems Need More than Short-Term Cosmetics Reforms?
Abstract: 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. 
Length: 31 pages
Creation-Date: 2014-10
File-URL: http://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2014dip/wp_26_2014.pdf
File-Format: Application/PDF
Handle: RePEc:uto:cesmep:201403