Evolving global economic architecture : will we have a new Bretton Woods?
The Asian financial crisis (AFC) of 1997–1998 had led to calls for a “New International Financial Architecture” (NIFA) and discussions had focused on crisis prevention, management and resolution efforts. Similarly, the global economic crisis (GEC) of 2008–2009, which wa...
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| Format: | Working Paper |
| Language: | English |
| Published: |
2011
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| Online Access: | https://hdl.handle.net/10356/90545 http://hdl.handle.net/10220/6509 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | The Asian financial crisis (AFC) of 1997–1998 had led to calls for a “New
International Financial Architecture” (NIFA) and discussions had focused on crisis
prevention, management and resolution efforts. Similarly, the global economic crisis (GEC) of 2008–2009, which was expected to be the worst crisis since the Great
Depression of the 1930s, also led to calls for a “New Bretton Woods” (NBW)
system—a wider and a much more comprehensive set of reforms concerning the
global governance system and international economic institutions (IEIs), similar to the remarkable 1944 Bretton Woods conference where the World Bank, the IMF and the GATT (the predecessor of the WTO) were established. |
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