Symposium : Economic Dynamics and The New Millennium : The Architecture of The Multilateral Organizations  

Oleh:

Lloyd, P. J.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Asian Economics vol. 10 no. 2 (1999), page 211-236.
Topik: ECONOMICS; economic dynamics; new millenium; architecture; multilateral organizations

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ50.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper examines the architecture of the main multilateral organizations : the World Trade Organization, the International Monetary Fund, and the World Bank. It begins with some observations about the changes in the world economy due to greater integration of world markets for goods, services, and capital. Integration has increased the interdependencies among national economies and among individual markets. There is a lack of coherence in the activities of the three multilateral organizations due to three separate factors : a lack of coherence within the organizations, particularly the World Trade Organization; a lack of coherence between them ; and gaps in their coverage of markets. The latter relates to the lack of a single authority to regulate foreign direct investment flows and the lack of multilateral regulation of financial markets in general. The international financial architecture is too complex to be resolved easily. However, the future world trading system must be based on open trade in goods, services, and capital markets, and it must maintain a system of stable but flexible exchange rates. In this context, the World Trade Organization has an important role to play in preventing countries from increasing border protection.

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