Der Vorwurf von Globalisierungsgegnern, der IWF und die Weltbank trügen einen wesentlichen Teil der Verantwortung für weltweite Armut und gehäufte Finanzkrisen, ist nicht haltbar. Der Einfluss der Bretton- Woods-Institutionen auf die Wirtschaftspolitik und die wirtschaftliche Entwicklung...

Efforts to realize the issue of development-focused Special Drawing Rights (SDR) by the International Monetary Fund (IMF) have been on-going for many years. Recently, however, the campaign first gained a new momentum immediately after the Asian financial crises with the new liquidity problems of...

Following an analysis of the forces behind the global capital flows paradoxʺ observed in the era of advancing financial globalization, this paper sets out to investigate the opportunity costs of self-insurance through precautionary reserve holdings. We reject the idea of reserves as low-cost...