Institutions for Reducing Global Financial Instability


Rogoff, Kenneth. 1999. “Institutions for Reducing Global Financial Instability.” Journal of Economic Perspectives 13: 21–42.
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This paper asks how recent developments in research on banking and sovereign lending can help inform the debate on choosing a new international financial architecture. A broad range of plans is considered, including a global lender of last resort facility, an international bankruptcy court, an international debt insurance corporation, and unilateral controls on capital flows.


© Copyright 1999 by the American Economic Association. Posted with permission. One copy may be printed for individual use only.

NBER Working Paper #7265

Last updated on 12/07/2012