The Less Developed Countries and the International Monetary System

1983 ◽  
Vol 36 (1) ◽  
pp. 147-164 ◽  
Author(s):  
G. K. Helleiner
Keyword(s):  
Developing Countries ◽  
Commercial Bank ◽  
International Monetary System ◽  
Bank Lending ◽  
Developed Countries ◽  
Review Article ◽  
Balance Of Payments ◽  
Comprehensive Treatment ◽  
Monetary System ◽  
The International Monetary Fund

Eleven recent books are surveyed in a review article which finds that there is still no up-to-date and comprehensive treatment of the interests and roles of the developing countries in the international monetary system. The rise of international commercial bank lending to developing countries has significantly altered the system by which balance-of-payments credit is offered. The International Monetary Fund has been relatively weakened, with especially serious implications for the poorest countries. Stabilization at both global and national levels has thus been impaired.

scholarly journals The Governance of the International Monetary System

2017 ◽  
Author(s):  
José Antonio Ocampo
Keyword(s):  
Developing Countries ◽  
Ad Hoc ◽  
International Monetary System ◽  
Developed Countries ◽  
Regional Institutions ◽  
Layered Architecture ◽  
Monetary System ◽  
System P ◽  
Regulatory Bodies ◽  
Bretton Woods Institutions

The governance of international financial institutions has been a subject of debate for decades. The major issues have been the control of existing institutions by the major developed countries, the associated exclusion of developing countries from decision-making, and the tendency of major decisions to be taken by ad hoc groupings of major developed countries outside the framework of treaty-based organizations. This chapter therefore proposes a reformed architecture of the international monetary system based on three pillars. The first is a representative apex organization, which can be understood as a transformation of the G20 into a representative international institution. The second is the continuous reform of ‘voice and participation’ of developing countries in the Bretton Woods institutions and global regulatory bodies. The third is the design of a dense, multi-layered architecture, with the contribution of regional and sub-regional institutions, mirroring the denser architecture that characterizes the system of multilateral development banks.

scholarly journals International Monetary Relations: Taking Finance Seriously

2017 ◽  
Vol 31 (3) ◽  
pp. 3-28 ◽  
Author(s):  
Maurice Obstfeld ◽  
Alan M. Taylor
Keyword(s):  
Exchange Rates ◽  
International System ◽  
Current System ◽  
International Monetary System ◽  
Balance Of Payments ◽  
Minimal Risk ◽  
International Liquidity ◽  
Monetary System ◽  
Financial Conditions ◽  
Monetary Relations

In this essay, we highlight the interactions of the international monetary system with financial conditions, not just with the output, inflation, and balance of payments goals usually discussed. We review how financial conditions and outright financial crises have posed difficulties for each of the main international monetary systems in the last 150 years or so: the gold standard, the interwar period, the Bretton Woods system, and the current system of floating exchange rates. We argue that even as the world economy has evolved and sentiments have shifted among widely different policy regimes, there remain three fundamental challenges for any international monetary and financial system: How should exchange rates between national currencies be determined? How can countries with balance of payments deficits reduce these without sharply contracting their economies and with minimal risk of possible negative spillovers abroad? How can the international system ensure that countries have access to an adequate supply of international liquidity—financial resources generally acceptable to foreigners in all circumstances? In concluding, we evaluate how the current international monetary system answers these questions.

Financial Crises: Review of Eichengreen and Tirole

2004 ◽  
Vol 42 (4) ◽  
pp. 1094-1097 ◽  
Author(s):  
Stanley Fischer
Keyword(s):  
Financial Crises ◽  
International Monetary System ◽  
Review Article ◽  
Oxford University ◽  
Princeton University ◽  
Monetary System ◽  
Oxford University Press

This is a review article of two books: Financial Crises and What to Do about Them by Barry Eichengreen (Oxford University Press 2002) and Financial Crises, Liquidity, and the International Monetary System by Jean Tirole (Princeton University Press 2002).

The “Sanctions” of the International Monetary Fund

1972 ◽  
Vol 66 (4) ◽  
pp. 737-762 ◽  
Author(s):  
Joseph Gold
Keyword(s):  
International Monetary Fund ◽  
International Monetary System ◽  
The United States ◽  
Legal Structure ◽  
Monetary System ◽  
Special Drawing ◽  
Third Stage ◽  
Special Drawing Rights ◽  
Two Stages ◽  
The International Monetary Fund

Recent events in the international monetary system culminating in the decision of the United States, announced on August 15, 1971, to suspend the convertibility of the dollar induce the international lawyer to ask once again what contribution sanctions can make to respect for international law and the effectiveness of multilateral treaties. This question has been a practical problem at two stages in the development of the International Monetary Fund. It arose first during the negotiation and drafting of the original Articles of Agreement which were adopted at the Bretton Woods Conference in July 1944. The second stage was the negotiation and drafting of the amendment of July 28, 1969, which dealt mainly with the legal structure of special drawing rights as a supplement to existing reserve assets. It is now apparent that there will be a third stage, in which a reform of the international monetary system, perhaps in some of its most fundamental aspects, will lead to a further amendment of the Fund's charter.

scholarly journals Poor and Unhygienic Nutrition in Schools of District Lower Dir, Khyber Pakhtunkhwa, Pakistan

2016 ◽  
Vol 7 (2) ◽  
pp. 13
Author(s):  
Ghulam Nabi ◽  
Tariq Aziz ◽  
Muhammad Imtiaz Aqdas ◽  
Nasrullah Khan ◽  
Aziz Ur Rahman ◽  
...  
Keyword(s):  
Developing Countries ◽  
School Children ◽  
Developed Countries ◽  
Review Article ◽  
Mental Development ◽  
Cognitive Behavior ◽  
Khyber Pakhtunkhwa ◽  
Qualitative And Quantitative ◽  
Food Items ◽  
Food Programs

<p class="jbls"><span lang="EN-GB">Proper qualitative and quantitative nutrition is very crucial for both physical and mental development of children. School going children need special attention with respect to their nutrition need as, poor and unhygienic nutrition not only have serious effects on physical and mental growth, but also compromises cognitive behavior. Some developed countries have formulated special lunch food programs for school children and is under strict control. However, in developing countries there is no such policy. This review article focuses on the food items mostly served and their possible consequences in the schools of Pakistan especially in district Lower Dir.</span></p>

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