Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109582
Authors: 
Cho, Yoon Je
Year of Publication: 
2011
Series/Report no.: 
ADB Working Paper Series on Regional Economic Integration 73
Abstract: 
The recent global crisis has reminded everyone of the importance of reforming the international monetary and financial system. The current system is no longer adequate to meet the needs of a complex, integrated world economy. Various proposals, both on the demand and supply sides, have been put forward, and include building a stronger global financial safety net, diversifying the supply of international reserve currencies, and so on. However, these proposals face trade-offs between desirability and political feasibility. > In this situation, a practical proposal entails strengthening policy coordination among the major economies and reforming the International Monetary Fund. Success on both fronts depends heavily on reform of global economic governance and the effectiveness of the G20. Asia‘s representation in the G20, and its increased status, give both privileges and responsibilities. To meet these responsibilities, Asians should invest greater efforts in developing their intellectual leadership in global economic issues.
Subjects: 
Global Economic Governance Reform
Reform of International Monetary System
Reform of the International Monetary Fund
The role of Asia in global economic governance
JEL: 
F42
F53
F55
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/igo
Document Type: 
Working Paper

Files in This Item:
File
Size
989.8 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.