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Efficient International Monetary System - Essay Example

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This paper will aim to enumerate the main criteria for an efficient and effective international monetary system. Furthermore, the role of the supranational organisations in achieving an efficient international monetary system would also be discussed…
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Efficient International Monetary System
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Efficient International Monetary System

Download file to see previous pages... It can well be stated that such a condition is highly desirable, for an efficient and effective international monetary system.
Global expansion allows companies to replicate successful domestic strategies in international markets, potentially in markets with lower competitive intensity. Additionally "Global market expansion provide the companies large untapped markets, advantages of low labour costs, savings of shipping costs, speed and efficiency of delivery system, etc. and this is where an efficient and effective international monetary system becomes essential." (Fletcher, R. 2006 p. 188)

The role of supranational organisations in achieving an efficient and effective international monetary system
The international monetary system is composed of a core, "which has the exorbitant privilege of issuing the currency used as international reserves, and a periphery, which is committed to export led growth based on the maintenance of an undervalued exchange rate." (http://www.cairn.info/article.phpID_REVUE=ECOI&ID_NUMPUBLIE=ECOI_100&ID_ARTICLE=ECOI_100_0039)
The IMF (International Monetary Fund) tells us that, taken together, all the developing economies had a current account that valued just a little over $640 billion, in the previous year. Obviously such a surplus in the current account is complemented by a shortage in the financial accounts. The shortage or deficit in the financial accounts in such a case will in fact be exactly equal to the net capital outflow from the developing countries to the industrial countries, thus this is the amount that we are looking for. As most will realize $640 billion is a huge amount, by all standards. Not long ago, even in 1996 (precisely 11 years back) the total...
With the continued spread of globalization, there is a new periphery, the emerging markets of Asia and Latin America, but the same old core, the United States, with the same tendency to live beyond its means. The main difference between now and then, aside from the names of the players, is the existence of a third bloc, Europe, which has neither the periphery’s scope for catch-up nor the reserve-currency country’s ability to live beyond its means, which is why it feels under pressure. This view yields strong predictions. It suggests that the current pattern of international settlements can be maintained indefinitely. In this context of market induced economy that the issues of globalization and hybridization are essentially important. In this context, it is important for the company to exhale into a powerful establishment by making the products both local and international at the same time. However, this blend should be better formulated for an enhanced and updated efficient and effective international monetary system and the fruits can be well utilized by the global community. ...Download file to see next pagesRead More
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