IIGG Content About International Finance

Other Report Global Imbalances, National Rebalancing, and the Political Economy of Recovery

Global Imbalances, National Rebalancing, and the Political Economy of Recovery

Author: Jeffry A. Frieden

In this CGS/IIGG Working Paper, Jeffry A. Frieden reviews the historical record on the political fallout from the unraveling of macroeconomic imbalances. He warns that the coming adjustments may test the capacity of national governments and international institutions to maintain an open international economic order.

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Transcript

The Financial Crisis And Global Financial And Monetary Cooperation

Speakers: Daniel W. Drezner, Steven Dunaway, and Sebastian Mallaby
Presider: Michael J. Elliott

What new forms of international financial and monetary coordination and regulation are required in light of the global economic crisis? How should the United States work to reform the Bretton Woods Institutions? Should the BRICs and other developing countries have an increased role at the IMF and World Bank? What are the preconditions for a U.S.-China bargain on global monetary and financial issues?

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Council Special Report No. 45 Lessons of the Financial Crisis

Lessons of the Financial Crisis

Author: Benn Steil

In this report, Benn Steil shows that the financial crisis is the inevitable bust of a classic credit boom, and explains how monetary, taxation, and home ownership promotion policy combined with other features of the financial system to fuel an unsustainable buildup in debt. He recommends significant reforms to reverse the debt financing bias and make the system more resilient to falls in asset prices. This report is also available in Arabic.

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