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International Financial Institutions: Architecture, Flaws, and Legitimacy

In: International Financial Institutions and Their Challenges

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  • Felix I. Lessambo

Abstract

International financial institutions need to be adjusted to the needs and challenges of the twenty-first century. Today’s economy differs significantly from the world status of economy of the 1940s, which led to the creation of the Bretton Woods System and most of the existing international financial institutions. The globalization of financial markets, the debt crisis, cross-border flows of capital, and the rise of new economic powers have weakened the current system.

Suggested Citation

  • Felix I. Lessambo, 2015. "International Financial Institutions: Architecture, Flaws, and Legitimacy," Palgrave Macmillan Books, in: International Financial Institutions and Their Challenges, chapter 0, pages 3-8, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-52270-2_1
    DOI: 10.1057/9781137522702_1
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