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International Monetary Cooperation - Lessons from the Plaza Accord after Thirty Years (Paperback)
Loot Price: R543
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International Monetary Cooperation - Lessons from the Plaza Accord after Thirty Years (Paperback)
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List price R628
Loot Price R543
Discovery Miles 5 430
You Save R85 (14%)
Expected to ship within 12 - 17 working days
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In September 1985, emissaries of the world's five leading
industrial nations-the United States, Britain, France, Germany, and
Japan-secretly gathered at the Plaza Hotel in New York City and
unveiled an unprecedented effort to correct the largest set of
current account and exchange rate imbalances that had ever
threatened the world economy. The Plaza Accord is credited with
sharply realigning exchange rates, significantly reducing current
account imbalances, and countering protectionist pressures in the
United States. But did the Accord provide a foundation for ongoing
international financial stability and policy coordination? Or was
it simply a unique one-time coincidence of national interests?The
Plaza experience continues to inform today's debates about the
limits and possibilities of international monetary cooperation. In
late 2015, leading policymakers and economists-including those who
were involved in the Accord's design, negotiation, and
implementation-held a Plaza Retrospective conference at the Baker
Institute for Public Policy to evaluate the Accord's legacy and how
its collaborative spirit can be applied today. This volume presents
their views and analyses to provide guidance for a time when the
world again faces the prospect of currency disequilibria, growing
imbalances, trade policy reactions, and thus uncertainty for both
the global economy and world politics.Data disclosure: The data
underlying the analysis in this volume are available. The data used
in chapter 14 are taken directly from William Cline's Policy Briefs
15-8 and 15-20, with the exception that they have been manipulated
with a key assumption stated in the chapter.
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