Gloablization and the International Financial System

This book provides prespectives on various aspects of the international financial system that contribute to financial crises and growth failures, and discusses the remedies that economists have proposed for addressing the underlying problems. It also sheds light on a central feature of the international financial system that remains mysterious to many economists and most non-economists: The International Monetary Fund and the factors that influence its effectiveness.

Peter Isard is Assistant Director in the Research Department of the International Monetary Fund, where he has worked since 1985. From 1972 through 1985 Dr Isard held research and managerial positions in the International Finance Division of the Federal Reserve Board. He has published numerous articles on the behavior of exchange rates, strategies for monetary policy, and directions for reforming the international financial system. His book Exchange Rate Economics (Cambridge University Press, 1995) has been widely acclaimed.