Risks of the International Financial System

  • Carlos M. Peláez
  • Carlos A. Peláez
Part of the Palgrave Texts in Finance and Monetary Economics book series (PTFME)

Abstract

The world economy has multiple vulnerabilities that challenge the international financial system. These vulnerabilities are similar to those that stimulated the G-7 to strengthen architecture of the IFIs. The objective of this chapter is to provide a framework of information on these vulnerabilities to motivate discussion of strengthening the IFA in the following five chapters. After 10 years of efforts by the G-7 and IFIs, many of the vulnerabilities in the world economy persist in similar or new forms. Events since 2000 reveal such vulnerabilities.

Keywords

Titanium Depression Europe Income Turkey 

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Notes

  1. 4.
    Maurice Obstfeld and Kenneth S. Rogoff, Foundations of International Macroeconomics ( Cambridge, MA: MIT Press, 1996 )Google Scholar
  2. Maurice Obstfeld, “International Macroeconomics: Beyond the Mundell-Fleming Model” (draft, University of California at Berkeley, Jun 27, 2001 ).CrossRefGoogle Scholar
  3. 5.
    Maurice Obstfeld and Kenneth Rogoff, “The Unsustainable US Current Account Position Revisited” (NBER Preconference on G-7 Current Account Imbalances, Cambridge, MA, Oct 14, 2004 ).CrossRefGoogle Scholar
  4. 6.
    Raghuram Rajan, “Remarks” (Australasian Finance and Banking Conference, Sydney, Australia, Dec 15, 2004 ).Google Scholar

Copyright information

© Carlos M. Peláez & Carlos A. Peláez 2005

Authors and Affiliations

  • Carlos M. Peláez
  • Carlos A. Peláez

There are no affiliations available

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