This title was first published in 2000: An outstanding volume which examines the professional economic merits, practical feasibility, and underlying politics of the hotly contested competing initiatives for strengthening the international financial system. Challenging much of the conventional wisdom, it offers a comprehensive account of the traditional enduring financial issues facing the G7 and the fundamental architectural elements of the new systemic design. This authoritative text contains a rich and balanced array of contributions from distinguished experts from all G7 countries and from emerging markets outside. Essential reading for academics in the areas of economics and management, to political scientists specializing in international political economy and to officials in the government and the private sector.

This book offers the most thorough, detailed inside story of the preparation, negotiation, performance, and achievements of G20 gatherings from their start at the finance level in 1999 through their rise to become leader-level summits in response to the great global financial crisis in 2008. Follow the moves of America’s George Bush and Barack Obama, Britain’s Gordon Brown and David Cameron, Canada’s Stephen Harper, Germany’s Angela Merkel, and other key leaders as they struggle to contain the worst global recession since the Great Depression of the 1930s. This book provides a full chapter-long account of each of the first four G20 summits from Washington to Toronto with summaries of the ensuing summits. It uses international relations theory to build and apply a model of systemic hub governance to back its central claim to show convincingly that G20 performance has grown to successfully govern an increasingly interconnected, complex, crisis-ridden, globalized twenty-first century world.

This book analyses the current debate around Central Bank Digital Currencies (CBDC) and the future of New Global Financial System. It offers deep insight into the global monetary policy in the context of digital and cryptocurrencies and examines both the opportunities and challenges to come. The book draws a clear distinction between digital and cryptocurrencies and answers several research questions, such as what the consequences of forming Central Bank Digital Currencies and their impact on the financial markets, in both advanced and developing economies, might be. Another question refers to whether the role of monetary policy easing has led to the rise of the virtual currency market, while still others relate to the impact of the pandemic on international settlements. The book also discusses the issue of investment in cryptocurrencies, and the related risks, whether or not this is a profitable investment vehicle, and how the digital banking system evaluates such investments. Further, the book also highlights the post-pandemic challenges for central banks, such as future monetary policy. It includes a complex review of the literature and presents elaborate econometric models of digital currencies and cryptocurrencies. The book has a wide geographic focus, examining these aspects from the perspective of several countries including China, India and the US. The primary audience for the book is researchers, scholars and students of international finance and economics but it will also appeal to practitioners concerned with the digitalisation of financial systems, policymakers and regulatory agencies. Note: Prof. Shalini Talwar's affiliation is published incorrectly. Her correct affiliation, which may be considered for referencing and records is: Shalini Talwar, Associate Professor, S. P. Jain Institute of Management and Research, Mumbai, India.

“National finance” is a new concept launched by the author in his book National Finance ─ A Chinese Perspective, a unique monograph that differs from other financial publications dealing with general topics in public finance. The monograph intends to provide a full, well-developed and macro-level exposition of all major aspects of finance from the perspective of the central government, with focus laid on the most essential, immediate and intricate issues in national financial development, which are the "hard nuts" that have to be cracked on both central and regional levels and on the fronts of both offshore and onshore finance. It attempts to cope with a series of formidable challenges that a country, particularly its top government officials, must take in developing finance: how national finance should develop and overtake in the face of rising financial industries, how it should respond to the influx of AI+blockchain technologies, how a country guards against and copes with systematic or regional financial risks with security, fluidity and profitability serving as its cornerstones, how it can build up and promote the new international financial system and governance amid international financial powers around the world, and so on.

This title was first published in 2001. Containing a wide array of intellectual perspectives, this illuminating text takes an authoritative look at the rules, decision-making procedures and organizational resources at the heart of the institutions of global governance and provides a much-needed Asian perspective on key issues, dealing with new questions raised at the Okinawa summit. Particularly suitable for graduate courses in political science, international political economy, international organizations, corporate strategy and international business, as well as having implications for the public policy community.

The book provides a critical analysis of the legal mechanisms that help shape the capitalist system, and also makes proposals for deploying these tools in a different manner.Although often disguised in difficult legal jargon, in reality the main legal building blocks of the prevailing capitalist socio-economic system are simple, the most important being: (1) money; (2) the company form and (3) (neo)liberal state organization aimed at making markets as free as possible for the entrepreneurial sector. Having been used to create the socio-economic order over 2-3 centuries, the legal systems that helped shape capitalist societies around the globe have also contributed to a variety of fundamental problems that remain unaddressed by the capitalist system itself, such as ever-mounting public and private debt, pollution and climate change, an increasing polarization between rich and poor and a globally unjust fiscal order. By proposing alternative uses for the tools of law that shape capitalism, the book also makes proposals for dealing with these matters.

The impetus for the conference that was the basis for this volume emanated from the influence of two brilliant minds-Egon Sohmen and Adam Klug, who both died at an early age, leaving their families and the professions of economics and economic history with major voids. In the course of research on the origins of Open Economy Macroeconomics, the significant contributions of Egon Sohmen came to the fore. After correspondence with some of those involved in the early development of the Open Economy Macromodel, we turned to Adam Klug for his views on the matter-as he had dealt with the history of intertemporal trade models in his Ph. D. thesis. And it was Adam who suggested the idea of a conference bringing together economists and economic historians. At this point we want to acknowledge the very generous grant from the Egon Sohmen Foundation and the active participation of Dr. Helmut Sohmen and Mrs. Renee Sohmen at the conference. We also want to thank Prof. Sir Aaron Klug, Nobel Laureate, and the Klug family for their support and the financial contribution of the Adam Klug Memorial Lecture Fund at Ben Gurion University. Other institutions that contributed to the conference were the Gianni Foundation; Bank of Israel; University of North Carolina; Department of Economics, Faculty of Social Science and Aharon Meir Center for Banking, Bar Ilan University; Department of Economics and Faculty of Social Science, Ben-Gurion University of the Negev.

We are now in the era of the G8, although the G7 still exists as a grouping for Finance Ministers. Why do G7 finance ministries and central banks co-operate? What are the implications of this co-operation for US power and the abilities of the other six states to exercise leadership? What role do the G7 play in global financial governance? How much authority do they possess and how is that authority exercised? This is the first major monograph on the political economy of G7 finance ministry and central bank co-operation. It argues that to understand the contribution of the G7 to global financial governance it is necessary to locate the process in the context of a wider world financial order comprised of decentralized globalization. It also provides original case study material on the G7’s contribution to macroeconomic governance and to debates on the global financial architecture over the last decade. It assesses the G7’s role in producing a system of global financial governance based on market supremacy and technocratic transgovernmental consensus and articulates normative criticisms of the G7’s exclusivity. For researchers in the fields of IR/IPE generally, postgraduate students in the field of international organization and global governance, policy makers and financial journalists this is the most extensive analysis of the G7 and the political economy of global financial governance to date.

This book brings together analyses of a wide range of economic and financial subjects, including any issue related to these broader concepts, such as development, banking crises, energy, and Islamic finance, among others. It offers a clear discussion of the current period of economic transition and the future prospects of developing countries in terms of financial and economic perspectives. It will serve to raise awareness of the important opportunities and risks inherent in the global financial system, and makes a valuable contribution to wider economic debates by identifying the priorities and policy prescriptions that will help countries to realise their potential. The book will particularly appeal to academicians and students, as well as, researchers and professionals in the fields of economics, finance, and business. It may also serve as a secondary textbook for courses about Eurasian countries in economics and finance departments of higher learning institutions.

The International Monetary Fund (IMF) is the institution designed to support global trade and economic growth by helping to maintain stability in the international financial system. Originally created to finance short-term balance of payments deficits during the Bretton Woods Era of gold/dollar fixed exchange rates (1944--1971), in the current world where flexible exchange rates dominate in the industrial economics, it has focused on developing countries where ever larger financial crises have erupted. The book provides a basic understanding of its mission and operations, and how they may have evolved. A comprehensive bibliography is included with easy access by subject, author and title indexes.