New Institutional Arrangements for the World Economy

Abstract

During the first days of July 1987 the newly established Sonderforschungsbereich 178 “Internationalisierung der Wirtschaft” held its first symposium in Konstanz/Bodensee. “New Institutional Arrangements for the World Economy” were discussed by a group of economists and lawyers working in the fields of international trade, international monetary economics, international finance, international public choice, and international economic law. Cooperation between these areas of research is an important condition for attaining the long-term aim of the Sonderforschungsbereich, viz. analysis of the complex interdependencies between international economic transactions of various kinds and international economy-related institutions in a broad sense. The nature of these interdependencies seems to be crucial for the world economy’s further development. A better understanding of their characteristics will be helpful for the solution of most imminent international economic problems.