Managing the World Economy: Fifty Years After Bretton Woods / Edition 1

by Peter Kenen

Overview

The Group of Seven major industrial democracies, at their Naples summit in July 1994, decided to consider "What framework of institutions will be required to meet the challenges of the 21st century?" and "How can we adapt existing institutions and build new institutions to ensure the future prosperity and security of our people?" This volume presents the results of an Institute conference at which leading experts and policymakers assessed the record of the Bretton Woods regime over the past half century and the need to modernize the system now. Specific proposals are made for reforming the international monetary and trading systems, including through changes in the roles of the International Monetary Fund, GATT and the New World Trade Organization, and the World Bank. The volume also assesses the case for creating new institutional arrangements to address several issues that have recently attained greater prominence on the global agenda—investment, financial markets, the environment, and migration.

Product Details

ISBN-13:	9780881322125
Publisher:	Peterson Institute for International Economics
Publication date:	02/01/2022
Edition description:	New Edition
Pages:	448
Product dimensions:	6.00(w) x 9.00(h) x (d)
Age Range:	18 Years

About the Author

Peter B. Kenen (1932-2012) was Senior Fellow in International Economics at the Council on Foreign Relations and Walker Professor of Economics and Finance, Emeritus, at Princeton University. Kenen's publications include The International Economy (2000), Economic and Monetary Union in Europe (1995), The International Financial Architecture, and International Economic and Financial Integration. He was a member of President Kennedy's Task Force on Foreign Economic Policy and the Economic Advisory Panel of the Federal Reserve Bank of New York. Kenen has served as consultant to the Council of Economic Advisers, the Office of Management and Budget, the Federal Reserve, the US Treasury, and the International Monetary Fund.

Table of Contents

	Preface	v
I	The Past
1	Managing the World Economy under the Bretton Woods System: An Overview	3
	Comment
	Robert O. Keohane	58
	Richard Portes	64
	Emile van Lennep	69
	Klaus Engelen	75
II	Managing the World Economy
2	Managing the Monetary System	83
	Comment
	Richard N. Cooper	112
	Shijuro Ogata	117
	Niels Thygesen	120
3	Managing the Trading System: The World Trade Organization and the Post-Uruguay Round GATT Agenda	131
	Comment
	Alan Wm. Wolff	152
	Kenneth A. Oye	156
	Martin Wolf	163
4	Managing Development and Transition	173
	Comment
	Marek Dabrowski	201
	William R. Cline	210
	Stephan Haggard	215
	Moises Naim	223
III	Managing the New International Economic Issues
5	Managing a Market-Led Global Financial System	235
6	International Direct Investment: Strengthening the Policy Regime	269
7	The Case for a Global Environmental Organization	287
8	Migration	311
IV	The Future
9	Managing the World Economy of the Future	341
	Comment
	Joseph Nye	375
	Paul Volcker	381
	Horst Schulmann	386
10	Summing Up and Looking Ahead	395
V	Annex
	The Bretton Woods Institutions and Global Governance	409
	Shared Prosperity and the New International Economic Order	419
	Conference Participants	427