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n AfricaGrowth Agenda - Is it time to bid the current international monetary system farewell? Lessons from the global financial crisis

Volume 2013, Issue 4
  • ISSN : 1811-5187

Abstract

Since the collapse of Bretton Woods System in 1973, the world enjoyed several periods of high growth facilitated by exceptional increase in global trade and international capital movements as the world economies become increasingly more integrated. The current international monetary system (IMS), viewed as an advancement of the Bretton Woods System, also afforded countries enough degree of flexibility to pursue national economic policy-mix endeavoured to achieve growth without major concern for global economic implications. This saw a number of developing and emerging market economies, particularly Asian economies pursue export-led strategies in the aftermath of the Asian crisis. In the process, these countries accumulated substantial amount of foreign reserves.

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/content/afgrow/04/1/EJC133775
2013-04-01
2019-11-13

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