Global governance in a multipolar world: The case for regional monetary funds

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18 Scopus citations

Abstract

The reform of global financial governance is long overdue. Recent changes to the governance of the International Monetary Fund partially address the lack of representation of emerging market countries, but not their loss of confidence in the institution. In the meantime, alternative and perhaps better approaches to the problems of open economics are being proposed at a regional level. We describe these regional monetary funds and discuss their prospects. We conclude that because economic interdependence is strongest at the regional level, regional cooperation seems well-suited to a multipolar world.

Original languageEnglish (US)
Pages (from-to)109-121
Number of pages13
JournalInternational Studies Review
Volume13
Issue number1
DOIs
StatePublished - Mar 1 2011
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Political Science and International Relations

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