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The Present International Monetary System: Problems, Complications, and Reforms

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  • Dominick Salvatore

Abstract

In the last decade serious crises have affected financial markets. Some proposals to avoid international financial crises have been made, but more useful could be measures to strengthen the functioning of the present international monetary system. Another way could be a much greater involvement of the private sector. The misalignment among leading currencies of the world can be a source of crisis difficult to solve. The creation of the European Central Bank (ECB) and of the euro leaves unresolved the serious problem of how a European Monetary Union member will respond to an asymmetric shock. Copyright Kluwer Academic Publishers 2000

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  • Dominick Salvatore, 2000. "The Present International Monetary System: Problems, Complications, and Reforms," Open Economies Review, Springer, vol. 11(1), pages 133-148, August.
    • Handle: RePEc:kap:openec:v:11:y:2000:i:1:p:133-148
    DOI: 10.1023/A:1008313608550
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    Cited by:

    1. Dellas, Harris & Tavlas, George S., 2001. "Lessons of the euro for dollarization: Analytic and political economy perspectives," Journal of Policy Modeling, Elsevier, vol. 23(3), pages 333-345, April.
    2. Hochreiter, Eduard & Tavlas, George S., 2004. "On the road again: an essay on the optimal path to EMU for the new member states," Journal of Policy Modeling, Elsevier, vol. 26(7), pages 793-816, October.
    3. Yucel, Eray, 2011. "A Review and Bibliography of Early Warning Models," MPRA Paper 32893, University Library of Munich, Germany.
    4. Mendoza, Ronald U., 2010. "Was the Asian crisis a wake-up call?: Foreign reserves as self-protection," Journal of Asian Economics, Elsevier, vol. 21(1), pages 1-19, February.

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