Regional Financing Arrangements and the Stability of the International Monetary System

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Main author: McKay, Julie
Other authors: Volz, Ulrich
Wölfinger, Regine
Format: Journal Article           
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id eprints-14789
recordtype eprints
institution SOAS, University of London
collection SOAS Research Online
language English
language_search English
description This article examines the potential contribution of regional financing arrangements (RFAs) to the stability of the international monetary and financial system. To gauge the quality of an RFA, we establish a set of optimal financing criteria relevant for providing crisis financing using a first principles approach. We then evaluate the frameworks for the main regional arrangements for emerging markets in existence against these criteria. The results suggest that the design and operation of RFAs determine the extent to which they can help prevent and alleviate crises and thereby contribute to global financial stability.
format Journal Article
author McKay, Julie
author_facet McKay, Julie
Volz, Ulrich
Wölfinger, Regine
authorStr McKay, Julie
author_letter McKay, Julie
author2 Volz, Ulrich
Wölfinger, Regine
author2Str Volz, Ulrich
Wölfinger, Regine
title Regional Financing Arrangements and the Stability of the International Monetary System
publisher De Gruyter
publishDate 2011
url https://eprints.soas.ac.uk/14789/

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