Regional and Global Monetary Cooperation

29 Pages Posted: 23 Feb 2012

Date Written: February 23, 2012

Abstract

The increasing occurrence of national, regional, and global financial crises, together with their rising costs and complexity, have increased calls for greater regional and global monetary cooperation. This is particularly necessary in light of volatile capital flow movements that can quickly transmit crisis developments in individual countries to other countries around the world. Global financial safety nets (GFSNs) are one important area for monetary cooperation. This paper reviews the current situation of regional and global monetary cooperation, focusing on financial safety nets, with a view toward developing recommendations for more effective cooperation, especially between the International Monetary Fund (IMF) and regional financial arrangements (RFAs).

Keywords: monetary cooperation, regional monetary cooperation, global monetary cooperation, regional financial arrangements, financial safety nets, global financial crises

JEL Classification: F33, F34, F36, F53, F55

Suggested Citation

Lamberte, Mario B. and Morgan, Peter J., Regional and Global Monetary Cooperation (February 23, 2012). ADBI Working Paper 346, Available at SSRN: https://ssrn.com/abstract=2009695 or http://dx.doi.org/10.2139/ssrn.2009695

Mario B. Lamberte (Contact Author)

Asian Development Bank Institute ( email )

Kasumigaseki Building 8F 3-2-5
Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan
+81 3 35935526 (Phone)
+81 3 35934270 (Fax)

HOME PAGE: http://www.adbi.org

Peter J. Morgan

ADBI ( email )

Kasumigaseki Building 8F 3-2-5
Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

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