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The Instability and Inequities of the Global Reserve System

José Antonio Ocampo

Paper  148kb pdf

This paper argues the inherent instability of the current global reserve system due to the use of a national currency as the major international reserve currency, and the high demand for "self-insurance" by developing countries.

About the Author

José Antonio Ocampo
Co-President
Initiative for Policy Dialogue (IPD)

Jose Antonio Ocampo is Co-President of IPD, Professor of Professional Practice in the School of International and Public Affairs, and Fellow of the Committee on Global Thought at Columbia University. Prior to his appointment at Columbia, Professor Ocampo served as the United Nations Under-Secretary-General for Economic and Social Affairs, and head of UN Department of Economic and Social Affairs (DESA), as Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and has held a number of high-level posts in the Government of Colombia, including Minister of Finance and Public Credit, Director of the National Planning Department, and Minister of Agriculture . Professor Ocampo is author or editor of over 30 books and has published over 200 scholarly articles on macroeconomic theory and policy, international financial issues, economic development, international trade, and Colombian and Latin American economic history.

Publication Information

Type Network Paper
Program Financial Markets Reform
Posted 09/25/07
Download 148kb pdf
# Pages 29