Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management.
This paper examines the most effective role for the IMF in an increasingly volatile global capital market. The Bretton Woods system experience and its successor "non-system" is reviewed, and the resultant institutional structure contrasted with the implicit need for public action to resolv...
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| Format: | Working paper |
| Language: | English |
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Levy Economic Institute
1996
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| _version_ | 1826268013165281280 |
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| author | FitzGerald, E |
| author_facet | FitzGerald, E |
| author_sort | FitzGerald, E |
| collection | OXFORD |
| description | This paper examines the most effective role for the IMF in an increasingly volatile global capital market. The Bretton Woods system experience and its successor "non-system" is reviewed, and the resultant institutional structure contrasted with the implicit need for public action to resolve the systemic problems of the global capital market. An interventionist approach proposed by the Fund, designed to discipline borrowers, is contrasted with an alternative approach implicit in the rules proposed by BIS, designed to regulate lenders. Finally, the new powers necessary to create an orderly market for international capital are contrasted with the reality of current international institutional arrangements. |
| first_indexed | 2024-03-06T21:03:04Z |
| format | Working paper |
| id | oxford-uuid:3b847fc5-417a-45b0-8390-3c4c09c194a2 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T21:03:04Z |
| publishDate | 1996 |
| publisher | Levy Economic Institute |
| record_format | dspace |
| spelling | oxford-uuid:3b847fc5-417a-45b0-8390-3c4c09c194a22022-03-26T14:08:10ZIntervention versus Regulation: The Role of the IMF in Crisis Prevention and Management.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:3b847fc5-417a-45b0-8390-3c4c09c194a2EnglishDepartment of Economics - ePrintsLevy Economic Institute1996FitzGerald, EThis paper examines the most effective role for the IMF in an increasingly volatile global capital market. The Bretton Woods system experience and its successor "non-system" is reviewed, and the resultant institutional structure contrasted with the implicit need for public action to resolve the systemic problems of the global capital market. An interventionist approach proposed by the Fund, designed to discipline borrowers, is contrasted with an alternative approach implicit in the rules proposed by BIS, designed to regulate lenders. Finally, the new powers necessary to create an orderly market for international capital are contrasted with the reality of current international institutional arrangements. |
| spellingShingle | FitzGerald, E Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management. |
| title | Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management. |
| title_full | Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management. |
| title_fullStr | Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management. |
| title_full_unstemmed | Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management. |
| title_short | Intervention versus Regulation: The Role of the IMF in Crisis Prevention and Management. |
| title_sort | intervention versus regulation the role of the imf in crisis prevention and management |
| work_keys_str_mv | AT fitzgeralde interventionversusregulationtheroleoftheimfincrisispreventionandmanagement |