International Economic and Monetary Architecture at the Crossroads
Bretton Woods at 80
- English
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International Economic and Monetary Architecture at the Crossroads
Bretton Woods at 80
About this book
The International Monetary Fund and World Bank were founded at the 1944 Bretton Woods conference on the premise that international cooperation and multilateralism would be to the benefit and enrichment of all. Yet, the establishment and evolution of the global financial architecture into its current form were not inevitable: this edited volume examines the "roads not taken" – critical junctures in the histories of the International Monetary Fund and the World Bank – where the choices made, and the decisions taken, would have far-reaching consequences.
Geoeconomic fragmentation, nationalism, and extreme protectionism pose threats to the open trade and payments system and are jeopardizing the hard-won gains in global incomes and living standards driven by postwar trade and globalization. Against the urgent need to rekindle the Bretton Woods spirit of cooperation and multilateralism, while also reckoning with the shortcomings of the postwar international order as they were revealed over time, the authors of this volume turn to history for inspiration, lessons, and insights from both the roads taken and those left for another day. The book also demonstrates that future reform can be inspired by previous intellectual and theoretical efforts.
The book will be of great interest to readers interested in the past, present, and future of international monetary systems, economic governance, and international finance and banking more broadly.
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Table of contents
- Cover
- Half Title
- Series
- Title
- Copyright
- Contents
- List of Figures
- List of Tables
- List of Contributors
- Introduction: The Roads Not Taken
- 1 Resource-Based International Currency: A History of a Failed Consensual Idea
- 2 Champions of Free Trade: The Peruvian Proposal for a Conference on Commercial Policy at Bretton Woods
- 3 Five Debates at the Creation of the International Monetary Fund
- 4 Four Roads Not Taken at Bretton Woods: International Financial Proposals Ahead of Their Time
- 5 Bretton Woods Institutions and the Problem of Sovereign Defaults During the Early Days
- 6 Paths Not Taken with the American Payments Imbalance: Bureaucratic Responses in the IMF, OECD, and BIS, 1960 to 1971
- 7 SDRs and Development Finance: Uncovering the Early 1970s Debate
- 8 A Failed Attempt Toward a Multilayered Safety Net: The Asian Monetary Fund
- 9 A Feminist Opening? Gender Mainstreaming at the International Monetary Fund and the World Bank
- 10 A Critical Road Not Taken? Assessing IMF Inclusive Growth and Frameworks of Technocratic Progressive Taxation in the Post-2008 Era
- 11 Luxembourg’s Role in Forging Post-War Financial Governance: Knowledge, Leadership, Diplomacy
- 12 The Governance of the Bretton Woods Institutions: Ambitious but Failed Goals?