The international monetary non-system
This panel will discuss the reforms that are necessary to build an adequate international monetary system for the twenty-first century. This includes:
(1) A global reserve system that contributes to the stability of the global economy and is considered as fair by all parties.
(2) Better macroeconomic policy cooperation among major economies, and an exchange rate system that contributes to restoring global payments balances.
(3) Improved crisis prevention and resolution through: regulation of cross-border capital flows, larger emergency financing, and creation of an international debt workout mechanisms.
(4) Improved governance: stronger voice and representation in the IMF, a representative apex institution, and a multi-layered architecture.
The discussion will analyse, in particular, the proposals included in the recent UNU-WIDER-OUP book Resetting the International Monetary (Non) System by the Chair.
For more than 30 years, UNU-WIDER has been associated with some of the most advanced thinking in development economics. Since the Institute’s start in 1985, UNU-WIDER has undertaken research on all the principal themes of development economics. It has created a global network of thousands of researchers, many from developing countries. Helsinki has become the hub of this network, producing knowledge of real value to policy makers and practitioners in the developing world, across the UN, and to the international community more broadly.
Beginning in 2009, UNU-WIDER embarked on what has proven to be its most ambitious work programmes yet. Poverty, inequality, economic transformation, development finance, climate change, gender, food security, and many other topics, have featured in its activities and work resulting in some 2000+ publications ranging across these areas of research focus. The overall volume of work has tripled, with activities and conferences now ongoing across the globe. The Institute’s international development conferences provide a major platform for the exchange of ideas and calls for action. It has actively promoted the work of both early career academics and senior researchers spanning the developing world.
The conference will showcase UNU-WIDER, its work, and the many people and institutions that are engaged with it. The conference will hold panel discussions on all of the main themes and findings of UNU-WIDER’s research during 2009-18 — finance, food and climate change; and transformation, inclusion and sustainability. It will take stock of what we have learned, look to the future of development economics, and global development more broadly, serving as a bridge to fresh UNU-WIDER initiatives, aiming to mobilize evidence and action around the 2030 SDG agenda and its goals.