Reform of the International Monetary System

- Foreword by Masahiro Kawai

Chapter 1: INTRODUCTION AND OVERVIEW by Masahiro Kawai and Mario B. Lamberte

Part 1: Overview of Reform of IMS

Chapter 2: INTERNATIONAL MONETARY REFORMS: A CRITICAL APPRAISAL OF SOME PROPOSALS by Yung Chul Park and Charles Wyplosz

Chapter 3: ISSUES RELATED TO INTERNALIZATION OF THE PRC YUAN by Yongding Yu

Part 2: Managing Capital Flows

Chapter 4: RE-THINKING CAPITAL FLOWS FOR EAST-ASIA by Stephen Grenville

Chapter 5: NEW MEASURES OF THE TRILEMMA HYPOTHESIS AND THEIR IMPLICATIONS ON ASIA by Hiro Ito and Masahiro Kawai

Part 3: Regional Currency Cooperation

Chapter 6: THE EVIDENCE FOR AN ASIAN CURRENCY UNIT by Abhijit Sen Gupta

Chapter 7: EUROPE'S CRISIS, COORDINATION FAILURE AND INTERNATIONAL EFFECTS by Stefan Collignon

Part 4: Regional/Global Cooperation and Financial Safety Nets

Chapter 8: PREVENTION AND RESOLUTION OF FOREIGN EXCHANGE CRISIS IN EAST ASIA by Chalongphob Sussangkarn

Chapter 9: REGIONAL AND GLOBAL MONETARY COOPERATION by Mario B. Lamberte and Peter Morgan

Masahiro Kawai is professor, Graduate School of Public Policy, Tokyo University, Japan. He was dean and CEO of the Asian Development Bank Institute from 2007 to 2014, special advisor to the ADB president in charge of regional economic cooperation and integration, deputy vice minister for international affairs of Japan's Ministry of Finance, and chief economist for the World Bank's East Asia and Pacific region. He was also professor of economics at the University of Tokyo after serving as associate professor at Johns Hopkins University. His recent publications focus on economic regionalism. He holds a BA in economics from the University of Tokyo and a PhD in economics from Stanford University.

Mario B. Lamberte is team leader, COMPETE Project, The Asia Foundation, Makati City, Philippines. Previously he was director of research at the Asian Development Bank Institute, the president of the Philippine Institute for Development Studies, and advisor to the Philippine senate on legislative measures pertaining to financial markets and trade policy reforms. His current areas of interest are regional economic cooperation and integration, financial markets, and development economics. He holds a PhD in economics from the University of the Philippines and did his post-doctoral studies at Stanford University.

Peter J. Morgan is senior consultant for research, Asian Development Bank Institute, Tokyo, Japan. Previously he served in Hong Kong, China as chief Asia economist for HSBC, responsible for macroeconomic analysis and forecasting for Asia. Before that, he was chief Japan economist for HSBC, and earlier held similar positions at Merrill Lynch, Barclays de Zoete Wedd, and Jardine Fleming. Prior to entering the financial industry, he worked as a consultant at International Business Information KK in Tokyo, specializing in financial sector consulting. His current research interests are macroeconomic and financial sector policy.