Rethinking Bretton Woods | Mon, May 3, 2010
After a few years of improvement the debt situation in the developing world has, under the global economic crisis 2008-09, again taken a turn for the worse. Rather than an anomaly, this is consistent with the pattern of structural interdependence between debt and trade that has historically constrained the economic prospects of developing countries.
As the crisis exposes the fault lines throughout the current model that links international trading and public debt, nationally and internationally, the material in this book represents a useful roadmap to the issues that need to be addressed. Indeed, only crisis recovery measures that dare to reshape the paradigm linking trade and debt on the basis of the lessons learned can lead to a more resilient and development-oriented global economy.
Like the previous volume in this series, this one jumps off from the premise that a holistic approach to policy –making in trade and finance can bring substantial improvements in ensuring systemic coherence and providing better development outcomes than an approach that would take such areas in isolation. This one singles out debt as an area of finance and addresses the political and the technical dimensions of linking debt and trade, the potential and limitation of market access, the problems related to the export growth-debt repayment link, the effects on debt of foreign investment rules, the impacts of domestic monetary policy on debt and trade, and issues in the definition of debt sustainability and factoring trade performance into debt sustainability assessments.
Featured contributors include: Andreas Antoniou, Luiz Carlos Bresser-Pereira, Alfredo Calcagno, Heiner Flassbeck, Barry Herman, Richard Kozul-Wright, Jan Kregel, Jorg Mayer, Manuel Montes, Machiko Nissanke, Lida Nunez, Matthew Odedokun, Damian Ondo Mane, Matthias Rau, Arslan Razmi, Umesh Sookmani, Yash Tandon, Cecile Valadier, Christina Weller,
The publication and the event that it documents were made possible thanks to the generous support of (in alphabetical order) the Agence Francaise de Developpement (AFD), the Ford Foundation, the Forum for Environment and Development (Norway), Oxfam Novib, the United Nations Conference on Trade and Development, the United Nations Foundation and the Swedish Ministry of Foreign Affairs.
This publication was edited by Aldo Caliari.
Click here for the book.
Click here to read the table of contents.
Click here to see the cover.