BRETTON WOODS II STILL DEFINES THE INTERNATIONAL MONETARY SYSTEM

被引：37

作者：

Dooley, Michael ^{[1
]}

Folkerts-Landau, David ^{[1
]}

Garber, Peter ^{[1
]}

机构：

[1] Univ Calif Santa Cruz, Santa Cruz, CA 95064 USA

来源：

PACIFIC ECONOMIC REVIEW | 2009年 / 14卷 / 03期

关键词：

D O I：

10.1111/j.1468-0106.2009.00453.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we argue that net capital inflows to the USA did not cause the financial crisis that now engulfs the world economy. A crisis caused by such flows has been widely predicted but that crisis has not occurred. Indeed, the international monetary system still operates in the way described by the Bretton Woods II framework and is likely to continue to do so. Failure to properly identify the causes of the current crisis risks a rise in protectionism that could intensify and prolong the decline in economic activity around the world.

引用

页码：297 / 311

页数：15