International financial architecture and the economic renaissance in Europe

Authors
Citation
Mc. Watson, International financial architecture and the economic renaissance in Europe, OPEN ECON R, 11, 2000, pp. 117-131
Categorie Soggetti
Economics
Journal title
OPEN ECONOMIES REVIEW
ISSN journal
09237992 → ACNP
Volume
11
Year of publication
2000
Supplement
1
Pages
117 - 131
Database
ISI
SICI code
0923-7992(2000)11:<117:IFAATE>2.0.ZU;2-P
Abstract
Over the past decade two transformations have changed the landscape of Euro pe: the European Union and the transition in East European countries. Count ries like Estonia, Hungary, and Poland have become "converging" countries m ore than emerging countries. Their experience offers insight on aspects of policy design that helped proof them against turbulence in international ma rkets. In a world of liberalized markets, the international financial archi tecture has to be strengthened by solving some problems like herding behavi or and contagion, moral hazard, and information on markets. The Internation al Monetary Fund has to play a big role in these innovations and challenges .