The Debate about Reforms of the International Financial Architecture

doi:10.16382/j.cnki.1000-5579.2002.03.011

Abstract

Abstract:

The occurrence and contagion of the Asian financial crisis has engendered some debates over defects of the international financial architecture (IFA) and its reforms. The defects mainly lie in two aspects: the first is the increasing instability within the current international system, and the second, the deficiency of effective supervision and regulation of crisis. Centering on the reform of the IFA, expects, scholars, government officials and international organizations have released their views. The debate mainly focuses on liberalization of capital account and management of short - term capital flow, selection of an exchange rate system, transparency and international standard, reform of Bretton Woods institutions, regional currency and financial cooperation and so on. This debate will greatly influence the reform of the IFA in fifty years to follow.

Key words: reform of the international financial architecture, selection of the exchange rate system, international financial standard

Ying-li PAN. The Debate about Reforms of the International Financial Architecture[J]. J. East China Norm. Univ. Philos. Soc. Sci, 2002, 34(3): 71-81.

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