New Institutional Arrangements for the World Economy

1. Front Matter

   Pages I-IX

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2. Introduction

   1. New Institutional Arrangements for the World Economy

      • Hans-Jürgen Vosgerau

      Pages 1-6

3. Exchange Rate Stabilization

   1. Front Matter

      Pages 7-7

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   2. A Public Choice Analysis of Strategies for Restoring International Economic Stability

      • Thomas D. Willett

      Pages 9-30

   3. Comments

      • John S. Chipman

      Pages 31-33

   4. Implications of Alternative International Exchange Rate Arrangements for the Developing Countries

      • Sebastian Edwards

      Pages 34-84

   5. Comments

      • Peter Bernholz

      Pages 85-88

   6. The European Monetary System: A Regional Bretton Woods or an Institutional Innovation?

      • Manfred Wegner

      Pages 89-118

   7. Comments

      • Roland Vaubel

      Pages 119-122

4. International Financial Markets

   1. Front Matter

      Pages 123-123

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   2. Domestic Bank Regulation in a World of International Banking

      • Kenneth E. Scott

      Pages 125-149

   3. Comments

      • Karl Kreuzer

      Pages 150-174

   4. The Internationalization of Financial Markets and the Regulatory Response

      • David Folkerts-Landau

      Pages 175-209

   5. Comments

      • Nikolaus K. A. Läufer

      Pages 210-212

   6. Economic Analysis of Debt-Equity Swaps

      • Günter Franke

      Pages 213-233

   7. Comments

      • Silvio Borner

      Pages 234-237

   8. Competitive Performance, Regulation and Trade in Banking Services

      • Anthony Saunders, Ingo Walter

      Pages 238-250

   9. Comments

      • Bernd Genser

      Pages 251-253

5. Protectionism and the Uruguay GATT Round

   1. Front Matter

      Pages 255-255

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   2. Does The World Need a GATT for Services?

      • Herbert G. Grubel

      Pages 257-275

New Institutional Arrangements for the World Economy Hans-Jiirgen Vosgerau, Konstanz I. The Problem During the first days of July 1987 the newly established Sonderforschungs­ bereich 178 "Internationalisierung der Wirtschaft" held its first symposium in Konstanz/Bodensee. "New Institutional Arrangements for the World Economy" were discussed by a group of economists and lawyers working in the fields of interna­ tional trade, international monetary economics, international finance, international public choice, and international economic law. Cooperation between these areas of research is an important condition for attaining the long-term aim of the Sonderforschungsbereich, viz. analysis of the complex interdependencies between international economic transactions of various kinds and international economy­ related institutions in a broad sense. The nature of these interdependencies seems to be crucial for the world economy's further development. A better understanding of their characteristics will be helpful for the solution of most imminent international economic problems. Four problem areas were especially addressed during the conference, each con­ sisting of three or four contributions. The revised papers are presented in this volume, each followed by a comment of the invited discussant, or by a summary of the discussion. The last contribution is meant as a summary conclusion and has no comment. The four problem areas discussed were: (1) Exchange rate stabilization and econ­ omic policy coordination, (2) International financial markets and their regulation, (3) Protectionism and the Uruguay GAIT-round, and (4) The institutional frame­ work for international production.

• Finance
• International Financial Market
• cooperation
• development
• economics
• economy
• institutions
• international finance
• international trade
• internationalization
• production
• public choice
• research
• trade policy
• value-at-risk

• Sonderforschungsbereich 178, Universität Konstanz, Konstanz, Germany

  Hans-Jürgen Vosgerau

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