The disjuncture between global markets and an international monetary system based on national currencies generates instability for global trade and finance. As the BRICS (Brazil, Russia, India, China, South Africa) and Asian countries have become more integrated into the world economy, they have become increasingly aware of fundamental problems or challenges in the current International Monetary System (IMS).

The project, launched in 2012, will support innovative research on: first, views from the BRICS and Asian countries on the systemic problems that are pushing countries to seek international monetary reforms (that is, the "need" behind the reform); second, the range of views from the BRICS and Asian countries, as well as regional considerations on the impact of the adjustment measures that key countries are already taking in response to the instability in the IMS, including currency internationalization; and, third, options and preferences  for orderly adjustment.

Attachment Size
Conference Program - Hong Kong 2012 121.91 KB
Panel 2, Monica Baumgarten de Bolle | Brazil: Policy Responses to the Global Crisis and the Challenges Ahead 680.5 KB
Panel 3, Changyong Rhee | A Practical Approach to International Monetary System Reform 1.11 MB
Panel 3, Sean Craig | Comments on "A Practical Approach to International Monetary System Reform..." 1.01 MB
Panel 3, Andrew Powell | Promoting the International use of Emerging Country Currencies 1.25 MB
Panel 3, Victor Pontines | Comments on "Promoting the International use of Emerging Country Currencies" 401.5 KB
Panel 4, Daikichi Momma | International Monetary System Reform 500 KB
Panel 4, Sung-Soo Eun | Currency Internationalization, and International Monetary Reform 2.53 MB
Panel 5, Sean Craig | Comments on "Dollar Currency Risk in Asia" 315 KB
Panel 2, Johan van deHeever | Challenges of the International Monetary System and Response Options: A South African Perspective 1.66 MB
Panel 2, Juliet Johnson | Russia, International Monetary Reform and Currency Internationalization 6.94 MB
Panel 1, Benjamin J. Cohen | Global Turmoil: The International Monetary System Today 171 KB
Panel 1, Eric Helleiner | Reluctant Monetary Leaders? The New Politics of International Currencies 915.5 KB
Panel 1, Jae-Ha Park | Comments on "Reluctant Monetary Leaders?" 221 KB
Panel 1, Robert McCauley | Reforming the International Monetary System in the 1970s and 2000s 2.41 MB
Panel 1, Dong He | Comments on "Reforming the International Monetary System..." 201 KB
Keynote 1, Dong He | International use of the Renminbi: Developments and Prospects 286 KB
Panel 2, Songzuo Xiang | Challenges of the International Monetary System and the Direction to Reform 1.39 MB
Panel 2, Rakesh Mohan, Michael Debabrata Patra and Muneesh Kapur | Reforming the Architecture of the International Monetary System 3.14 MB
Closing Panel, Paul Jenkins | Comments on “The Way Forward” 64.08 KB