The present volume contains the texts of the papers and criti cal
commentary presented at the one-day conference "Financing the world
economy in the nineties" at Tilburg University (23 March 1988).
This conference was organized by the Post-graduate School of
Banking and Finance of "The Tilburg Institute of Advanced Studies"
(T .I.A.S.) which is closely associated to Tilburg University. It
should be borne in mind that all the chapters were written before
March 1988. Although some were revised later, none of the authors
has been asked to include develop ments which have occurred since.
To achieve a better understanding of the current financial
imbalances in the world economy and its consequences and to discuss
the alternatives to correct these imbalances, this conference
brought to gether outstanding authorities from the academic world,
from the inter national supervisors, and from the industrial
companies and the banks. After the editor's introduction about the
external disequilib ria in the world economy and the burden of
economic adjustment, Chapter 1 is the text of the opening address
by Dr. Witteveen. He calls atten tion to the central issue, which
financing needs that we can see now may persist into the nineties
and how can they be met? In this context he mentions the
U.S.-current account deficit, the need for stable exchange rates
and the international debt problem."
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