|Publisher||Kiel Institute for the World Economy (IfW)|
|Subject Domain (in DDC)||Social sciences ♦ Economics|
|Subject Keyword||Rules for monetary stability ♦ Hedge funds ♦ Exchange rate crises ♦ IMF ♦ IMF quotas ♦ Financial instability ♦ Finanzmarktkrise ♦ Währungskrise ♦ Bankenaufsicht ♦ Geldpolitisches Ziel ♦ Internationales Währungssystem ♦ Internationaler Kredit ♦ Reform ♦ Welt ♦ International Monetary Arrangements and Institutions ♦ Monetary Policy, Central Banking, and the Supply of Money and Credit ♦ Financial Institutions and Services ♦ Economic Systems: General|
|Abstract||Financial crises can have a severe impact on the real side of the economy with countries losing up to 20 percent of GDP. The paper studies rules that prevent financial instability and currency crises. These include institutional arrangements for a solid banking system, prudent regulations and appropriate principles of monetary policy. The paper studies the role of the IMF in light of the past experience in preventing currency crises and a systemic breakdown of the world's financial system and points out necessary IMF reforms. It discusses how the IMF should adjust to the structural changes in the world economy.|
|Part of series||Kiel Working Paper x1401|
|Learning Resource Type||Article|
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