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
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.
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.*
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