F55 - International Institutional Arrangements

• 21 February 2013 The G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis

  Bank of Canada Review - Winter 2012-2013 Robert Lavigne, Subrata Sarker

  Since 2009, the G-20 Framework for Strong, Sustainable and Balanced Growth has provided a mechanism for international macroeconomic policy coordination. The Framework has had some successes, including agreement on objectives for fiscal consolidation. However, post-crisis global growth has been neither strong nor balanced. Progress has also been slow in developing credible fiscal consolidation plans in some advanced countries and in increasing exchange rate flexibility in certain emerging economies. A stronger peer review process and enhanced analysis of international spillovers would increase the Framework’s influence on member policies.

  Content Type(s): Publications, Bank of Canada Review Article Topic(s): Exchange rate regimes, Fiscal Policy, International topics, Recent economic and financial developments JEL Code(s): E, E6, E61, F, F5, F53, F55

• Canada and the IMF: Trailblazer or Prodigal Son?

  Staff Discussion Paper 2009-1 Michael Bordo, Tamara Gomes, Lawrence Schembri

  Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also the first major member to challenge the orthodoxy of the BrettonWoods par value system by abandoning it in 1950 in favour of a floating, market-determined exchange rate.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Exchange rate regimes, Exchange rates, Monetary policy framework JEL Code(s): E, E5, E52, E58, F, F4, F41, F5, F55, N, N7, N72