Table of Contents

1: A Brief History of the International Monetary System Since Bretton Woods
2: The Provision of Global Liquidity: The Global Reserve System
3: Global Monetary Cooperation and the Exchange Rate System
4: Capital Account Liberalization and Management
5: Resolution of Balanace of Payments Crises: Emergency Financing and Debt Workouts
6: The Governance of the International Monetary System
7: Reforming the (Non)System

About the Author

José Antonio Ocampo is a Professor at Columbia University and Chair of the Committee for Development Policy of the UN Economic and Social Council (ECOSOC). He has previously held positions as the UN Under-Secretary-General for Economic and Social Affairs, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and Minister of Finance, Minister of Agriculture, and Director of the National Planning Office of Colombia. He
has been awarded the 2012 Jaume Vicens Vives award of the Spanish Association of Economic History for the best book on Spanish or Latin American economic history, the 2008 Leontief Prize for Advancing the
Frontiers of Economic Thought, and the 1988 Alejandro Angel Escobar National Science Award of Colombia.

Reviews

José Antonio Ocampo, one of the world class economists, offers us here the elements of a comprehensive yet evolutionary reform of the international monetary system. This book is a urgent read for the G20, and for all those who consider a stable system to be key to international public good.
*Michel Camdessus, former IMF Managing Director*

This book is a must-read for all who want to understand the gaps of the international monetary system, as well as the links between the workings of national economies and of that system. It is remarkable not only in providing a truly global perspective but also a deep analysis of the flaws of the system vis-à-vis emerging and developing countries.
*Kemal Dervis, Vice-President and Director of Global Economy and Development at Brookings Institution, USA.*

José Antonio Ocampo is one of the most thoughtful critics of the international monetary system, but more significantly he is a prolific source of ideas for its reform. Implementing such ambitious reforms will not be easy - there are formidable diplomatic and political obstacles to overcome - but a first important step is to be clear on the concepts. There's no one better than Ocampo at conceptualizing the system, its flaws, and its fixes.
*Barry Eichengreen, Professor at the University of California at Berkeley, USA*

Once in a while one comes across something that is so self-evidently right that one is momentarily surprised that it has not already been introduced, until one reflects on the current mediocre leadership of the world economy. That was my reaction on reading José Antonio Ocampo's tour de force on reforming the international monetary system. On topic after topicreserves, adjustment, the capital account, emergency financing, debt workouts, the institutional infrastructurehe combines reason with judgment of what may reasonably be sought.
*John Williamson, Senior Fellow at the Peterson Institute for International Economics, USA.*