Instabilities, Crises and Agenda for Possible Reform of   the International Monetary System and the International   Financial Architecture in the XXI Century

Kožarić, Amra (2008) Instabilities, Crises and Agenda for Possible Reform of   the International Monetary System and the International   Financial Architecture in the XXI Century. Economic analysis, 41 (1-2). pp. 104-112. ISSN 0013-3213

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Abstract

Recent global, world occurrences (turbulence, volatility, risks, huge transaction costs, the weakness of public and private banking, financial structures, instabilities in the international financial activities and excessive international financial crises) made clearly, that the current international monetary system canʹt insure global stability and prosperity, neither the system can adapt to a more modern economic and social structure. Instabilities and unbalances, which characterised the system in the past century and at the beginning of the XXI  century, have been brought by the economic globalization, in other words financial globalization. Intensive widespread of these instabilities, between developing countries and even to the industrialized world, have influenced on the international policymakers (called as the international financial institution) to start the initiatives about possible reform of the international monetary system and its international financial architecture.

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