Globalization and the International Financial System

Peter Isard is Assistant Director in the Research Department of the International Monetary Fund, where he has worked since 1985. From 1972 through 1985 Dr Isard held research and managerial positions in the International Finance Division of the Federal Reserve Board. He has published numerous articles on the behavior of exchange rates, strategies for monetary policy, and directions for reforming the international financial system. His book Exchange Rate Economics (Cambridge University Press, 1995) has been widely acclaimed.

• List of figures, tables and boxes; List of abbreviations; Acknowledgments and disclaimer; Part I. Background: 1. Introduction; 2. The evolution of the international monetary system; 3. The international monetary fund; Part II. International Financial Crises and Obstacles to Growth: 4. Factors contributing to international financial crises; 5. The effects of crises and controversies over how to respond; 6. Perspectives on economic growth and poverty reduction; Part III. The Agenda for Reform: 7. What can individual countries do?; 8. How can the international financial system be reformed?; References; Author index; Subject index.

'Peter Isard brings deep scholarship and experience to the bewildering array of problems surrounding the brave new world of globalized international finance. No single volume I know does a better job of evaluating the current international financial system and its history, and drawing sensible implications for national and global policy. This book will be required reading for every serious student of the world economy.' Maurice Obstfeld, University of California, Berkeley